What is a round robin?
A round robin is a wager that allows you to bet on a group of teams (or events) in subsets of equal parlay wagers. The round robin will be comprised of every possible parlay consisting of the number of ‘ways’ you choose. A ‘way’ is the number of teams you choose to be in each parlay that will make up your round robin.
For example, you choose 10 events and select a “5-way round robin” bet. You will have every possible 5-team parlay combination made out of those ten teams. This means you only need to get five out of the 10 choices correct to collect some winnings.
Instead of making one all-inclusive parlay bet on your picks (where you need to get all of your choices correct to win), a round robin allows you to be incorrect on one or more picks while still enabling you to win at least something.
A round robin allows you the convenience of creating multiple parlays at the same time. It’s just like boxing your horses in racebook betting.
At BetUS, a round robin can contain up to 15 events, with parlays of between 2-14 ways.
How does a round robin work?
To set up a round robin at BetUS, select between three and fifteen events. Then choose a subset of combinations of those teams to win; the number of ways in your round robin.
Example 1: If you select eight teams, you would create a round robin of between two and seven teams* where every possible combination of that number will be made into separate parlay wagers. Each parlay will contain the same number of teams**.
*Between 2-7 because one team would be a simple straight bet and all eight events together would be a normal parlay bet.
** The number of events you ‘choose to win’ is called a “way” and is the number of teams in each combination (parlay).
With eight events, for example, if you choose parlays of six teams each, this would be an 8-team round robin in six ways. Note that a round robin wager contains every possible combination of the number of ‘ways’ you choose. In this example, there are 28 possible 6-team combinations within any set of eight teams, thus an 8-team round robin with 6-ways will always be made up of 28 separate 6-team parlays (see table below).
A round robin with four ways has four teams in each parlay; eight ways have eight teams in each parlay, and so forth.
The Risk amount you enter will be multiplied by the number of parlays in your round robin.
Example 2: In a four-team round robin we have the choice of two ways or three ways, meaning getting parlays with every possible two-team or three-team combinations. Choosing three ways, we have the four teams: Team A, Team B, Team C, and Team D.
All of the three-way parlays with four teams are:
ABC, ABD, ACD and BCD
Since we’ve chosen three ways, we know we have to get at least three winners out of the possible four in order for at least one of our parlays to win. Say in this case, we picked three winners, but Team C, the Flyers, lost. We lose every parlay that contains the Flyers. But if you look at the combinations, there’s one parlay that the Flyers are not a part of. We would win the three-team parlay that contains the Celtics, Braves, and Mariners.
Remember, when you place a round robin wager, the Risk amount you enter will be multiplied by the number of possibilities available to you for a win (the number of parlays in your round robin). In the 4-team, 3-way round robin example shown above, a $50 risk amount would put $50 on each of the four possible parlays, or combinations, that make up this round robin bet, for a total of $200 wagered.
Here, we lost 3 x $50 = $150 on the three parlays we did not hit.
However, using a parlay calculator, we find that our $50 winning parlay paid out $328.80, including the $50 risked. Overall, even though we lost three out of four parlays in our round robin, we end up ahead by $128.80.
ROUND ROBIN PARLAYS TABLE
(Trying to make it easier to differentiate between # of events with color and bold within these 93 rows…you can do better, I’m sure)
|Picks in Round Robin||Number of Ways
(Events in each Parlay)
|Total Number of Parlays in Round Robin|
Why use Round Robins?
The advantage of placing a round robin is that you do not need to win every combination in order to make your money back for the entire round robin.
The round robin with the most parlays is a 15-team round robin with either seven or eight “ways.” Both of these options have 6,435 separate parlays. Huge. A $5 wager means you would be risking $32,175. If you went seven ways, even with four losses and two pushes out of those 15 games, you would still be up about $9,000. Any more losses or pushes, however, and you’d not be very happy.
Placing an Action Reverse:
Go to the sportsbook page at BetUS. If you only want to see the lines for one sport, such as football, click the football link in the menu on the right to see what options are available for wagering on football. The options will show up in a dropdown menu underneath the main football tab.
If you want to bet on NFL, click on it and the available games will show up in the middle of the page in what is called the betting engine. Choose which NFL events you would like to bet on by clicking on the odds displayed in the betting engine. After your choice loads, you will see it in the right-hand column under Bet Slip.
To choose another sport to add to your ticket, go back to the Sports column on the left and click another sport. Choose again from the available events and add them to your Bet Slip. Only full game lines or series are allowed for exotic wagers, which include reverses.
Note 1 : The system will automatically inhibit you from choosing two correlated wagers on the same game. For example, choosing Team A to win on the point spread and also on the Moneyline. You will only be able to choose one or the other, as they are otherwise too similar (correlated) to allow on the same ticket.
Note 2: BetUS also allows you to place what is called a Rolling If-Bet. This allows you to place a new bet with the funds from a previous bet, with a few conditions. Click the link to find out how if a Rolling If-Bet can work for you.
All your chosen events will be listed in the Bet Slip with your wager options above.
As you are choosing your events, you will see wager options for placing a Parlay, If Bet, Reverse, and Teaser in the Bet Slip. Straight will be the default wager type until you choose something else. Whatever wager type the Bet Slip is set to will be grey, as below.
Because Round Robins are just a series of Parlay wagers, they are nested within the Parlay choices. You must select the Parlay button in the Bet Slip, as you will place round robins from the parlay selections.
Click the Parlay button and you will see all your selections listed in the Bet Slip. Clicking on the drop-down arrow will show you your available Round Robin options. We have chosen five games and we want to place a four-way round-robin wager using those five games.
Using the table, you can see that a five-team, four-way round robin wager will actually place 5 four-team parlays. Each parlay will require the same Risk amount you enter. Here, we have risked $10, which means we will place five $10 parlays, risking a total of $50 to win $600.
To add more selections or an event from another sport on the menu, just bring up the lines for that sport in the betting engine again and select another event. The Bet Slip will add that event and keep itself in Parlay mode. If you have already entered a Risk amount, the Payout amount will automatically readjust with the new event’s odds.
Placing your Round Robin
To place your bet into the system, click the Place my bets button under the Bet Slip:
Here, your BetUS Bet Slip gives you one more chance to view your pending wager before it is placed. This includes the game information, lines and Risk and Win amounts. To confirm your wager, simply click Confirm. After you do this, you will be unable to change your wager and BetUS will be unable to cancel it.
Once confirmed, you will see five separate four-team parlays listed in your Pending Wagers, each risking $10 to win $120.
Once your wager is confirmed, the Bet Slip will again show you all your wager details and ask you to print a hard copy of your Slip. In case of emergency or other circumstance, no internet claims will be honored unless a printed copy of bets in question is supplied.