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Explaining the NFL Round-Robin Wager

In the sports betting world, participants have gotten a little spoiled. It wasn't all that long ago that sports bettors were restricted to making simple straight bets and parlays. These were the types of bets that serious gamblers seemed to prefer. It took a while, but eventually, some astute bookmakers began to realize that recreational sports bettors liked the idea of having other types of wagers made available to them.

US Sports BettingFast-forward to today and we find that indeed, today's sports bettors have quite a few more betting options than they had in years gone by. If you take a look at a standard online sports betting menu, you'll probably find the following options:

  • Straight bets with point spreads
  • Straight bets with money lines
  • Parlays
  • Teasers
  • Proposition or prop bets
  • Futures odds betting
  • If bets
  • Betting totals over/under
  • Round robin bets

All of these options have appeal for a variety of reasons. The remainder of this writing is going to focus on explaining the last option on this list: The Round Robin.

About the Round Robin Betting Option

Before Las Vegas retail and online sports books became an option, sports bettors in the U.S. had to align themselves with local bookmakers or bookies. If a sports gambler wanted to place wagers, they had to take a risk and do so through an illegal bookmaking operation.

Since bookies had to man phones to accommodate customers, there was no time for fancy complicated wagering options. It was the straight bet, the parlay, or don't bet. It wasn't until retail sports books opened up in Nevada cities like Las Vegas, Reno, and Lake Tahoe that bookmakers had time to get creative and create they did.

The first legitimate Round Robin betting option started appearing on the Las Vegas Strip in the mid-1980s. It wasn't a particularly popular option nor is it today. However, some recreational bettors seem to like the option.

Round Robin Definition: "A type of parlay that combines three or more selections and places a series of combination bets on them."

In theory, it works like a sports tournament where all of the teams in a league or division will play each other one time. A Round Robin bet takes a series of betting selections, usually 3-5, and matches them with all the other selections based on the type of Round Robin, i.e. 2-team Round Robin, 3-team Round Robin, etc.

Note: The bettor will have to pay individually for each Round Robin combination. If the base wager is a $10 Round Robin, the cost of the bet will be $10 times the final number of combinations.

The Advantages of Using The Round Robin Betting Option

The real value of using the Round Robin betting option lies in the three (3) advantages that it offers.

1. It's a time saver: If a sports bettor likes five games on which to wager and wants to create a series of 3-team parlays using all possible combinations, they would have to place 10 individual parlays. That is a little bit time-consuming. With that said, computer technology allows sports bettors to streamline the process by telling the retail bookmaker to create a Round Robin Ticket or by hitting the online Round Robin button. In both cases, the betting system knows to create wagers for all combinations in the system, though the bettor will get a single betting slip.

2. Good handicappers lose less often: Using the same five games, a parlay wager would require the bettor to accurately hit all five games to claim any winnings. That's a strike rate requirement of 100%. By breaking the larger parlay into smaller parlays, the bettor could still win money with a strike rate of 60% to 70%. Yes, the wager might cost more, but the chances of winning are enhanced.

3. More action on more games: Recreational sports bettors tend to have limited bankrolls. At the same time, they also tend to enjoy having a betting interest in more games from the board. As is the case with a standard parlay, the Round Robin bet gives the bettor a chance to win more money from a smaller investment while covering more games.

The Round Robin Example

FootballThe best way to define any type of sports wager is by example. With the NFL season underway, the following example will focus on the following wager:

A $10 3-team Round Robin with 5 NFL game selections on the betting slip:

The five games included on this ticket will come directly from one of America's top online bookmakers, using actual NFL betting lines for week 7:

Detroit Lions +2 at Minnesota Vikings -2
Miami Dolphins +3.5 at Indianapolis Colts -3.5
Houston Texans +3 at Green Bay Packers -3
Las Vegas Raiders +5.5 at Los Angeles Rams -5.5
Kansas City Chiefs +1 at San Francisco 49ers -1

THE ACTUAL SELECTIONS ARE IN BOLD PRINT

We'll assume the betting odds for each game are -110 and each 3-team parlay will pay at standard odds of 6-1.

Here is the way the Round Robin betting slip will appear in the betting system:

$10 parlay - Lions +2 / Colts -3.5 / Packers -3
$10 parlay - Lions +2 / Colts -3.5 / Raiders +5.5
$10 parlay - Lions +2 / Colts -3.5 / Chiefs +1
$10 parlay - Lions +2 / Packers -3 / Raiders +5.5
$10 parlay - Lions +2 / Packers -3 / Chiefs +1
$10 parlay - Lions +2 / Raiders +5.5 / Chiefs +1
$10 parlay - Colts -3.5 / Packers -3 / Raiders +5.5
$10 parlay - Colts -3.5 / Packers -3 / Chiefs +1
$10 parlay - Colts -3.5 / Raiders +5.5 / Chiefs +1
$10 parlay - Packers -3 / Raiders +5.5 / Chiefs +1

That's a total of 10 separate bets for a total wagering value of $100. If the bettor of this slip were to hit all five games, the total payout would be $70 per winning parlay times 10 winning tickets, or $700. If they were to hit any four games, the total payout would be $70 per winning parlay times 4 winning tickets, or $280. If they hit three games, the total payout would be $70 per winning parlay times 1 winning ticket, or $70.

If you think about it, the bettor can have a mere strike rate of 60% and still get back 70% of their investment while having effectively placed a single bet, that being a Round Robin.

Additional Round Robin Information

There are a few other things you might appreciate knowing about Round Robin betting.

- The Round Robin betting option is usually available on any online betting market.

- Online operators might allow for games from different betting markets to be included on the Round Robin betting slip

- If any game on a Round Robin betting slip ties or pushes, each of the applicable parlays will be reduced by one game. The same is true if a game gets canceled.

- Round Robin betting will also work with money lines. It's a great option to use if a bettor wants to bet a lot of underdogs with favorable money lines.

Conclusion: Before you place a complicated Round Robin wager, you owe it to yourself to educate yourself about the nuances of parlay and Round Robin wagering. Retail and online bookmakers feed off bettor ignorance. That's why you need to know about what you are doing before you jump into the deep end of the pool. Reminder: You should never wager with more than you can afford to lose. Confining your wagering activities to your discretionary resources would be the right thing to do.



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