What is a Round Robin Bet?

Q: 1. What Is a Round Robin in Betting?

A round robin in betting consists of breaking a parlay into multiple bets. It takes its name from the tournament format in which all teams play against each other. For example, by betting on four different outcomes, you could have 6 two-team bets, 4 three-team bets and 1 four-team bet, plus an option to add 4 single-team bets.

What is more advantageous: placing a single parlay with six legs, or spreading them between smaller parlays consisting of two or three legs each? Many bettors have probably asked this question many times, and it’s our job to help you decide on the answer. While some punters prefer to risk it by wagering on a parlay with long odds, others consider it safer to break their big parlay down into multiple parts and bet on each smaller parlay. This betting type is called a round-robin bet.

But how does a round-robin bet compare to a regular parlay? And how do round robins work? What are the advantages and disadvantages of round robins? We will go through these questions with examples and tips on how to make the most of your round robins.

Round Robin Bet Explained

The name isn’t a coincidence: round-robin bets are indeed named after round robin tournaments, in which all teams play against one another. In a round-robin bet, you are essentially making all the possible combinations with the teams you picked to win.

Did that sound complicated? Well, it’s actually quite simple: let’s assume that you are going to bet on a parlay consisting of teams A, B, C, and D. The bookmaker will offer you the option to place your bet on a single parlay or to split it into six two-team bets plus four three-team bets.

Now, if you decide to go with a round robin in betting, then you should also get used to the types of round-robin bets. There are six types of round-robin bets, nicknamed Trixie, Yankee, Canadian (or Super Yankee), Heinz, Super Heinz, and Goliath.

🔷 Trixie: A bet consisting of three different selections, split into 3 two-team bets plus 1 three-team bet. You can add 3 single-team bets and turn the Trixie into a Patent as well.

🔷 Yankee: A bet consisting of four different selections split into 6 two-team bets, 4 three-team bets, and 1 four-team bet. You can also add 4 single-team bets to turn a Yankee into a Lucky 15.

🔷 Canadian (or Super Yankee): A bet consisting of five different selections, split into 10 two-team bets, 10 three-team bets, 5 four-team bets, and 1 five-team bet. Adding 5 single-team bets will turn the Canadian into a Lucky 31.

🔷 Heinz: A bet consisting of six different selections split into 15 two-team bets, 20 three-team bets, 15 four-team bets, 6 five-team bets, and 1 six-team bet. Add 6 single-team bets to the count, and a Heinz turns into a Lucky 63.

🔷 Super Heinz: A bet consisting of seven different selections split into 21 two-team bets, 35 three-team bets, 35 four-team bets, 21 five-team bets, 7 six-team bets, and 1 seven-team bet. You can add 7 single-team bets and turn a Super Heinz into a Lucky 127.

🔷 Goliath: A bet consisting of eight different selections split into 28 two-team bets, 56 three-team bets, 70 four-team bets, 56 five-team bets, 28 six-team bets, 8 seven-team bets, and 1 eight-team bet. That’s a total of 247 bets.

As you can see, round-robin bets can get out of hand in some cases. Once again, it all boils down to the punter weighing risk and reward, knowing which combinations to make.

Round-Robin Bet Tips

🔷 The secret to round robins in betting is learning how to create an upside for yourself. While winning a single eight-team bet is very difficult, breaking it down into smaller, more manageable two-team bets could result in a sizable win with less risk.

🔷 At the same time, round-robin bets can easily get out of control if you don’t pay attention. While a single $1 eight-team parlay means that you are simply wagering $1, it’s an entirely different matter for round-robin bets. If you are making the same $1 bet on all the possible two-team combinations, then the total jumps to $28. In a Goliath bet, it skyrockets to $247. Always keep track of how much you are wagering on round-robin bets, so you don’t end up losing track of your money.

🔷 Keep it reasonable. If you are going to place a round-robin bet, then remember to wager on results that actually have a chance of happening. Much like parlays, a round-robin bet can offer some tempting returns, but it also requires winning most of your bets for it to happen. Go through your betting ticket more than once and make sure that you feel genuinely confident about your wagers.

Round-Robin Bet Examples

For Week 1 of the 2022 College Football season, there is a wide range of games to choose from. You could pick favorites Utah (at Florida) at -140, LSU (vs. Florida State) at -162, and Coastal Carolina (vs. Army) at -145, and combine them into 3 two-team bets and 1 three-team bets, as well as 3 single-team bets. A $100 parlay would return $368,45. Alternatively, you could split the same $100 into a Trixie (in this case four $25 bets) for a potential return of $227,15. In both cases, you would need all three teams to win in order to turn a profit, with the parlay offering a better return. You could also risk $100 on each bet, but that would shoot the total to $400, risking an even bigger loss.

Now let’s use the underdogs as another example. For Week 1 of the 2022 NFL season, we are picking the Rams (vs. Bills) at +125, the Patriots (at Dolphins) at +135, and the Raiders (at Chargers) at +150. A three-team parlay would pay out $1,221.88. By breaking them down into a Trixie (again four $25 bets), you would only need two of the three teams to win in order to make a profit. Although the potential maximum payout of $650.17 is smaller, the round robin is worth considering in this case as it offers less risk.

You can also combine different betting markets into a single round robin: team A to cover a -4 spread, team B to win at -130, and on the over for the match between teams C and D. It works the same way as a moneyline round robin, combining the wagers into 4 parlays (or 7 bets if you throw in the 3 singles).

Pros vs Cons of Round Robin Bets

🔷 Pros:

🔹 Instead of risking everything on one parlay with multiple legs, you are splitting your money into more viable, smaller bets. While the payout will be smaller -assuming you don’t change the bet amount – you are still creating some upside depending on the odds.

🔹 Round-robin bets still offer better payouts compared to single bets, and a smaller risk compared to big parlay bets. If you are looking for an in-between, then it’s worth considering placing a round-robin bet.

🔶 Cons:

🔸 Round robins carry the same downside as any parlay bet, in which you must win all legs. Additionally, depending on the odds and the number of bets, you will have to win well over half of them just to break even. If you are going for a round robin bet, try to keep it small.

🔸 It’s easy to lose control of your money by wagering on a round robin. A $1 bet on eight different outcomes turns into a $247 total for a Goliath bet. Multiple small wagers can combine into a massive round robin without you realizing it.

Summary

Round-robin bets are a valid option for bettors but should be used with restraint. While they can offer some advantages compared to regular parlays in certain circumstances, round-robin bets can also run out of control, depending on how many outcomes you are wagering on.

Remember that betting on more outcomes also means increasing the bet amount, and even bets as small as $1 can combine into a monstrous round-robin bet. Including more teams also means that you will likely need to win more in order to profit, to a point in which a parlay might offer less risk for a better payout.

FAQs: What is a Round Robin?

1. What Is a Round Robin in Betting?

A round-robin in betting consists of breaking a parlay into multiple bets. It takes its name from the tournament format, in which all teams play against each other. For example, by betting on four different outcomes, you could have 6 two-team bets, 4 three-team bets, and 1 four-team bet, plus an option to add 4 single-team bets.

2. Are Round Robins a Good Bet?

It depends on the situation. Small round-robin bets can be profitable, offering a smaller risk, but at the cost of a smaller payout. However, big round-robin bets that combine four outcomes or more aren’t very efficient, as they rely on a high-winning percentage simply to break even.

3. How Do You Win Round Robin Bets?

You win a round-robin bet as long as all legs in each parlay win.

4. Is a Round Robin Better Than a Parlay?

It depends on the situation. The advantage, compared to a regular parlay bet, is that if a single leg ends up losing, it won’t necessarily ruin your entire bet. However, round robin bets require you to either wager a significantly higher amount compared to a parlay, or break the bet into smaller ones, with smaller payouts.

5. How Many Bets Is a Round Robin?

Round robin bets usually range from three to eight different outcomes. A Trixie, with 3 different outcomes, has four bets in total. A Goliath bet, which relies on 8 different outcomes, jumps to 247 bets.