Beginner’s Guide Part 13: Round Robin Betting—Spreading Risk for Bigger Wins
Mastering the Art of Safer Parlays for Week 1 of College Football!
If you’re new to sports betting, you’ve probably come across the term round robin and wondered what it’s all about. It might sound a bit complicated, but it’s actually a straightforward and useful strategy that can make your betting both safer and more exciting.
In this post, I’ll break down what a round robin bet is, how it works, when to use it, and a few key things to keep in mind. Plus, I’ll share some of my college football picks for this weekend that I’m planning to throw into a round robin. Week 1 is full of uncertainty, especially with teams that have had significant offseason changes, making it the perfect time to explore this strategy.
What Is a Round Robin Bet?
A round robin is a type of parlay bet that automatically creates smaller parlays from a larger list of your picks. It’s a way to hedge your bets by spreading them across several different combinations. So even if one or two of your picks don’t hit, you can still come out ahead with the winning combinations.
For example, let’s say you pick three college football teams:
Tennessee -38.5
Georgia -13
Alabama -31
With a round robin, the sportsbook will automatically generate multiple parlay combinations like this:
Tennessee and Georgia
Georgia and Alabama
Tennessee and Alabama
Tennessee, Georgia, and Alabama
This way, you don’t need all three teams to win to make money. If two of them win, you can still walk away with a profit.
Why Bet a Round Robin?
So why should you consider a round robin instead of just sticking to regular parlays or straight bets? Here are a few reasons:
Increased Chance of Winning: A round robin spreads your risk across several smaller parlays, which means even if one leg of your bet loses, you can still win on the other combinations.
Maximizing Upside: If you’ve got a few longshot picks or underdogs, a round robin lets you capitalize on those without needing every single one to hit.
Hedging Your Bets: If you’re confident in a few teams but not certain they’ll all win, a round robin offers a safety net while still allowing for decent payouts.
The Cost of a Round Robin
One thing to keep in mind is that round robins can get pricey. The more teams you include, the more parlay combinations are generated, which means a higher total bet. For example:
With 3 teams, you have 4 possible parlays.
With 4 teams, you have 11 possible parlays.
With 6 teams, you have 57 possible parlays.
Let’s say you’re betting $5 on each parlay. With 6 teams, that would total $285. It’s crucial to balance the number of teams you choose with how much you’re willing to risk.
How Does a Round Robin Payout Work?
Payouts in a round robin depend on how many of your parlays hit. Here’s a quick example with our college football teams:
Tennessee -38.5
Georgia -13
Alabama -31
If you bet $10 on each of the three possible two-team parlays, here’s how it could play out:
3-0 (all teams win): You win all three parlays, earning a total of $78.
2-1 (two teams win): You win one parlay, netting $6 after losses.
1-2 or 0-3: You lose all your parlays and are out $30.
Even if you don’t hit every bet, you can still make a profit or at least minimize your losses.
My College Football Round Robin Picks
This weekend, I’m betting on some uncertainty with teams that have had significant overhauls in the offseason. Here are the teams I’m including in my round robin:
South Dakota State
Sacramento State
Jackson State vs. ULM
Stanford
Central Arkansas
Florida
UNM (New Mexico)
Miami (OH) vs. Northwestern
I’ll create a series of 2-team and 3-team parlays with these picks. If I bet $10 per parlay, I’ll spread my risk while still aiming for a solid payout. Even if a couple of these teams don’t win, I’ll still have a shot at walking away with some profit.
Things to Watch Out For
While round robins can be a great tool, they’re not without their risks. Here are a few things to keep in mind:
They Can Get Expensive: The cost of betting on every parlay combination can add up fast. Be aware of how much you’re staking before you place your bets.
Risk of Small Payouts: If you bet on a lot of favorites, your potential payout might not be worth the initial investment. Balance your picks between favorites and underdogs to maximize your return.
Not Always a Safe Bet: While round robins help hedge your bets, they can still lead to losses if more than one team lets you down. Manage your bankroll wisely.
Final Thoughts
Round robin betting is a fun and strategic way to get more out of your sports bets, especially if you’re into betting on underdogs or want to hedge your picks. It offers a good mix of risk and reward, but like any betting strategy, it’s important to use it wisely.
Give it a try this weekend with your own picks or use some of mine! And remember, betting should be fun, so don’t go overboard. If you’ve got any questions or want to share your own round robin stories, drop a comment below—I’d love to hear how it’s working for you.
Let’s have a weekend of positive variance!