If you have heard the term “round robin,” you are probably thinking some kind of tournament. In betting parlance, round robin means something similar yet different.
Round robin in sports betting refers to a series of smaller parlays that are created from a larger list of bets. In the round robin tournament, you are probably aware that each team plays every other team in its group.
A round robin bet is similar. You can select multiple games to bet and your sportsbook will give you the option of creating a round robin. Essentially, you are picking parlay combinations. The more games you add; the more parlay combinations that can be created.
Round Robin Example
You can set up a simple round robin by selecting three teams which allows you to create three separate two-team parlays.
Take Week 1 of the 2020 NFL season as an example. You like the Chiefs -10 over the Texans, the Patriots -8 over Miami, and Baltimore -8.5 over the Cleveland Browns. You wager $10 on each parlay combination.
Patriots -7.5 $10 wager
Ravens -8.5 $10 wager
Ravens -8.5 $10 wager
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Assuming +160 odds on all three wagers, your $10 wager would payout $26. The most ideal scenario is that all three teams cover the spread. If they do, you would win all three parlays for a total of $78 ($26 X 3).
If Kansas City and New England cover but Baltimore does not, you would win one parlay ($26) and would net $6 (win $26 but lose $10 each on the other parlays for a total of $20).
In the event that only one team covers, you would lose all three parlays and your $30.
Round Robin Strategies
In many cases, round robin bets are simply bad. Trying to string together a number of wins on NFL point spreads is extremely difficult.
There is one strategy that does work for round robins. It involves betting underdogs on the moneyline and is best suited for college football.
Because of the variance in team strength in college football, it is possible to find a number of underdogs that could win straight up. Picking five to eight of these games can be turned into a series of round robin bets.
Take the following example from the 2019 season.
LSU +180 vs. Alabama
Illinois +495 vs. Michigan State
Western Kentucky -105 vs. Arkansas
Kansas State +235 vs. Texas
San Jose State +230 vs. Hawaii
Louisville +215 vs. Miami
With these six games, you can select a number of different combinations like 15 two-team parlays or 20 three-team parlays.
A three-team parlay with LSU, Illinois, and Western Kentucky would have paid off as all three teams were winners. The other three teams – Kansas State, San Jose State, and Louisville – did not win. Any combination those teams were involved in was a loss.
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Round Robin Terminology
When you visit a sportsbook, you might see some betting slang that refers to round robin bets. These terms are borrowed from horse racing. A Trixie is one.
A Trixie is made up of three two-team parlays and one three-team parlays. It is a total of four bets.
A Patent is similar to a Trixie, but includes single wagers. A Patent consists of three two-team parlays, one three-team parlay, and three single wagers. It is a total of seven bets.
There are sportsbooks that will allow round robin options such as the Heinz and the Canadian. When you pick five games for a round robin, you can make a total of 26 parlays (10 two-team, 10, three-team, five four-team, and one five-team). That is called a Canadian.
Picking six teams gives you 57 parlay combinations. That is called a Heinz.
There are other terms as well which you will become more familiar with as you dive into the world of round robin bets.