Daily Bets

What are Round Robbin Bets?

A round robin bet is a parlay bet that is broken down into a bunch of smaller parlay bets. A round robin can be thought of as you giving the sports book a list of bets you like, and they create a bunch of small parlays from this list. It seems to never fail that when you fire up a 5 leg parlay, only one leg loses resulting in the parlay losing. Round Robins are a way to eliminate this curse you have. In a round robin, you will still receive a solid payout if you hit 4 of 5 bets. On the surface, round robins seem like great bets. You limit risk, because you will get still paid out if only a few bets lose, and you still have the high reward aspect if all bets win. Do the numbers back up this surface level thought process? Lets find out. Read to the end to see the secret stat book makers do not want you to know.

How to Place a Round Robin Bet

To start, let run through how you would place a round robin bet. You would go to your sports book and click multiple bets you like, and then hit round robin. Below is what the screen would look like if you did this on Fanduel with 6 bets.

You have the options to put money on 15 – 2 team parlays, 20-3 team parlays, 15-4 team parlays, 6-5 bet parlays, and a full 6 leg parlay. I am going to breakdown exactly what you will be putting money on for each of these round robin options. I will also breakdown what win percentage you need for round robin bet to be profitable. I will start with the 15 -2 team parlays. In the chart below, the far left column is the 6 bets you really like. The next 2 columns show the 15 -2 team parlay combinations you will have. To simplify things, i made the line on each of these spreads -115.

2’s X 15 Round Robins

Round Robin vs Parlay vs Straight Bets

So from the above table you can see, you will risk $150 and if all your bets win, you will win $366. To make money on this round robin, you need to win at least 6 of you parlays, which is 4 of your 6 bets. The below table shows your return with each of your possible outcomes of the round robin. It also shows a comparison of what your payout would have been if you straight bet the $150 across all 6 bets ($25 each) or if you risked the $150 on a single parlay.

This shows us your percent chance of being profitable on the round robin and straight betting is 2.2% + 11.8% + 26.1% =40.1%. Your percent chance of being profitable on the parlay is 2.2% chance. This shows round robins are a clear and obvious better bet than a parlay. The better option between straight bets or round robin appears to be the same. You have to go 4/6 on both to be profitable and the implied probability of both is 40.1%. There is a secret stat that shows one of these is a clear cut better option for long term profit. Scroll to the end of the article to learn what book makers don’t want you to know. Lets take a look at how a 20-3 team Round Robin bet.

3’s X 20 Round Robins

Round Robin vs Parlay vs Straight Bets

In this type of round robin, you will risk $200 for a max return of $1,106 if all 6 bets hit. Like the 15-2 leg round robin, this type of round robin also required you to win 4 of 6 bets to be profitable. You will win more money with this 20 – 3 leg compared to a 15 – 2 leg because you risk $50 more. In a 20 -3 leg parlay, if you win 4/6 bets, you will actually only win 4/20 of your parlays. If you win 4/6 bets in a 15 – 2 leg round robin, you will win 6/15 parlays. The table below shows the return of each possible outcomes of the round robin. Each straight bet is worth $200/6 = $33.

These returns echo the same thing as the 15-2 leg round robin. If you go 3/6 straight betting, you lose 4.5% of your wager. If you go 3/6 on a round robin, you lose 63% of your amount risked. If you go 4/6 straight betting, you win 27% of your original $200 investment. If you go 4/6 in a round robin, you win 30% of your original $200 investment. Round robins returns multiply, so when you win 5/6, or 6/6, you get a much larger return.

The Stat Book Makers Don’t Want you To Know

Lets talk about the stats Vegas does not want you to know. Bookmakers bank on the odds that you will not go 5/6 or 6/6. Like shown before, your implied probability of going 5/6 or 6/6 is 14%. Bookmakers know that the odds say you’re most likely to go 3/6 (31%), and if you go 3/6 you lose an extra 36% of your original investment compared to straight betting. The second highest implied probability is going 4/6 (25.1%). If you go 4/6, you only win an extra 3% on your original original $200 investment compared to straight betting. On the surface, round robins seem like a great investment, but overtime, this stat shows they are a losing strategy. Hopefully now you understand round robins and what you are betting on when you place one. Overtime, they are a losing strategy. But if you like high risk, high reward bets, round robins are a better option then parlays.

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