If you have been betting for a while, you already probably know what a parlay is - a combination of two or more bets into one single big bet.
But you may be wondering: what is a round robin parlay bet? What makes it different from the usual parlay you may already be placing for games you bet on?
Round Robin Parlays Explained
You may already know how the round-robin system works in sports. Usually implemented in the World Cup preliminaries as well as in the qualifiers of groups sports for the Olympics, a round-robin system is wherein every team plays against each other once throughout the tournament period. The same principle also applies when you are making a round-robin parlay bet.
Before expounding on how a round-robin parlay works, one thing you should keep in mind is that not all bookies offer this way of betting. So, if you are interested in trying this out, it is always a good thing to check first with your bookies if they have a system open for this.
Before finalizing your bet, you have to decide on how many teams and how many combinations you will play around with on the bet, as well as the amount you are able to wager on each parlay, as every parlay in the round-robin must be wagered for the same amount.
To better illustrate this, take for example a three-team round-robin on a two-way bet with the following odds.
- Team 1 at -5.5
- Team 2 at +4.5
- Team 3 at -4.5
A round-robin bet would then look like this:
- Team 1 -5.5 and Team 2 +4.5
- Team 2 +4.5 and Team 3 -4.5
- Team 1 -5.5 and Team 3 -4.5
Still considering this example, a $10 on each parlay (a total of $30) would mean $26 per parlay in profit if all bets pan out. If you only won two out of three bets in the parlay, you'll get $52 less the $10 losing parlay. If you only won one, you'll win $26 less the $20 for the two loading parlays.
While bookies may have different rules on how they implement round-robin parlay betting, the general idea is that:
- You can bet on a minimum of 3 teams and a maximum of 8
- You can create a minimum of 2 combinations and a maximum of 6
- You cannot mix two of the same teams from the same game.
Guide to Making Round Robin Parlays
So now you know what a round-robin parlay is and how it works. But how do you make a good round-robin parlay bet? Here are some tips.
BetMGM Round Robin Parlay
Placing a parlay bet on BetMGM Sportsbooks is similar to other platforms. Select the "Round-Robin" tab, and simply make your picks from the list of open games and available lines. Choose the type of round-robin parlay you want to make and enter the stake amount you want to wager per parlay. The details and value of your picks would then be collected and displayed on your bet slip.
Double-check all the details and make sure they are according to how you want them. Finally, finalize your bet and wait for the confirmation of it being placed.
Bet365 Round Robin Parlay
If you are using Bet365 as your platform to place your bet on, this sportsbook uses a two-team round-robin parlay betting system.
Usually, the Bet365 menu would show you which games or teams you can bet on at any given time. To make a parlay bet, simply select your pick and it would then show on your bet slip.
Make another pick (not the same team nor the opposing team for the same game, of course) and it would also be added on your bet slip.
Now, convert your bets to a parlay by selecting the option for "2 Team Parlay."
Finally, finalize your bet by pressing the "Place Bet" button.
William Hill Round Robin Parlay
William Hill, another one of the most popular and well-reviewed betting apps, also offers round-robin parlay betting. Once you have the app and have an account, simply choose the sport you want to wager on (for example, football). Of course, make sure that there is an available round-robin option for your chosen sport first as this may not be available for every sport.
You would then be given the options of games and teams you can bet on, complete with the current odds and all of the important details you might want to check out. From this point, you can either select to make a straight bet by making only one pick, or a parlay by making multiple picks.
Then, the next screen would take you to the betting options you can make based on your picks. There would be the moneyline bet, spreads, and of course, parlays. Simply place the amount you want to wager (for each leg of the parlay), and finalize your bet.
When to Use Round Robin Parlays
Are round-robin parlays applicable for every game? Is it recommended that you always go for this type of parlay? Here are some of the things you need to know and consider when to use round-robin parlays.
Bypassing Wagering Limits
If you make only straight bets, chances are that your bookie might have a limit on how much or how many bets you can make. Sometimes, it might be a limit of $500, or $100, or maybe even as low as $100. If you try to bet over the limit, your wager would most likely not go through, and you might even get an error message saying that you have gone over the limit. Of course, this is not something that you would want to happen.
At the end of the day, it will depend on how your sportsbook manages the action by limiting wagers.
By doing a parlay or a round-robin parlay, you circumvent these limits as parlays are known to be larger in value, and thus usually, bookies do not set a limit for this type of betting. Thus, make a big bet if you want to but still, always make sure you understand the risks you are taking by placing a huge amount of money on your picks.
One of the main differences of a round-robin parlay from the usually parlay or accumulator bet is that here you don't necessarily have to win all legs of the parlay to get a payout.
In a traditional parlay, your bet would only be a winning bet once all legs of your parlay pan out and win. In a round-robin parlay, you still get paid out depending on how many legs of your parlay you have won. Naturally, you get more if you win more, and you get less if you win less. This way, you increase the potential of winning a bigger amount of money while mitigating the risks of you potentially losing more, too.
Completing Wagering Requirements
Bonuses are fun and exciting and while you may not make your big win with only a bonus or a free bet, you can help satisfy any wagering requirements by choosing a parlay bet. Although this is billed to you as one big, collected bet, a round-robin parlay is still also a combination of multiple bets.
Imagine having a wagering requirement of 10x. This means you have to wager any and all bonuses given to you by ten times before you can withdraw any winnings. By doing a round-robin parlay bet, you can satisfy this requirement quicker by placing multiple bets at once.
Pros & Cons
Here are some of the top pros and cons of doing a round-robin parlay.
- In a round-robin parlay, you don't need to satisfy all legs of the parlay in order to win the bet and get your payout. You can win two out of three, two out of five, or even only one out of all the other legs you wagered on.
- Since you do not necessarily need to win every leg, this makes a round-robin parlay a less risky type of betting all the while also increasing your potential profit.
- A round-robin is also a good choice for keeping your interest in the game even if one leg of your parlay loses early on since you still have the chance to have the other legs eventually pan out and win you money.
- A round-robin parlay can be very confusing, especially for beginners. This is understandable, however, since building a round-robin parlay is indeed a little more complicated compared to, for example, a simple straight bet.
- Although you mitigate the risks since a round-robin parlay pays even with some losing legs, a traditional parlay also has bigger overall potential profits. Thus, if you are after bigger payouts and are okay with the risk, then round-robin parlays may not be for you. On the other hand, this is your type of bet if you want the balance between risk and reward.
Round Robin Parlay: FAQ
Here are answers to some of the most commonly asked questions about round-robin parlays.
What are round-robin parlays?
A round-robin is a type of parlay containing every combination of the teams playing in one single, huge bet.
Are round robins parlay and regular parlays different?
Round-bin and a regular parlay are both similar and different from each other. The betting combinations are a little different, although they both combine multiple bets in one single, big wager. Also, a round-robin parlay is winnable even if one or more legs do not pan out.
What are Trixie, Canadian, and Heinz in regards to round-robin parlays?
These are all round-robin bets, but are nicknames depending on the number of picks there are in the parlay. A Trixie is a 3 two-team and 1 three-team bet; a Heinz is a six-team parlay.
Is it possible to place an each-way round robin parlay?
Although an each-way bet, or E/W or EW is also betting on multiple picks, it is considered two separate bets, unlike a round-robin that combines multiple picks into one.
Which sports are round-robin parlay frequently used for?
Most of the time, the biggest and most popular sport in the region you are on is open for a round-robin parlay bet. The US is bigger on baseball, American football, and basketball. On the other hand, European countries are big on football and sometimes even cricket.
Are round-robin parlays worth taking?
It is arguable. Some might say that it is not, considering the amount of money you need to risk to the value it can bring you. On the other hand, some say that it is, as it has less risk compared to ordinary parlay betting.
There are several ways of betting that can yield a bigger profit, and round robin parlay betting is only one of them. Always read about existing and new betting styles and find which one works best for you!