Among the countless advantages of online sports betting is the wide variety of wagering options that are offered to you. There are many exotic bets that you simply can’t get at a regular brick and mortar sportsbook. While some of these bets may be available in limited numbers in person, they are much more plentiful and significantly easier to execute at an online sportsbook. Among the very favorite bets of all at online casinos is the round robin parlay. Let’s take a look at how it works.
What is a Round Robin Parlay?
A round robin parlay is a single bet in which you bet several different parlays on the same single wager. To get started with a round robin parlay you must make a list of between two to six teams that will automatically be a part of every possible parlay bet that you could make. Here is a step by step guide on how to methodically create a round robin parlay in college football.
Select Three Best Bet Teams
In our example we’ll go with Alabama -18, Oklahoma -13.5, and Wisconsin +2. From there we will use each team for our round robin parlay as follows:
Parlay Number One
A three-team parlay consisting of each of our best bet teams. Alabama, Oklahoma, and Wisconsin
Parlays Number Two, Three, and Four
Now here comes the rotation of team aspects of a three-team round robin parlay which will entail a series of three, two-team parlays.
Parlay number two will be Alabama with Oklahoma, parlay number three will be Alabama and Wisconsin, and parlay number four will be Oklahoma with Wisconsin.
This completes the three-team round robin parlay!
Round Robin Parlay Strategy
First among equals as to reasons why a round robin parlay is so popular is that you can still find winning parlays if one of the teams fails. On a regular parlay of you win two of the three teams you will lose the entire bet. But with a round robin parlay that is not the case.
Of course, there is a counter argument against round robin parlays. Since, in essence, you are hedging your bets, you will not receive as much of a payout if all of your teams win. On a $50 parlay bet, if you hit a standard three teamer you will get a payout of $297.90. But if all three of your picks win on a round robin parlay the payout is a much smaller $132.18.
The Flat Tire
An old adage about parlays is that you have three great Michelin tires with one flat. And it is an experience that is totally frustrating. Ultimately a gambler has to ask himself the question as to whether he wants the bigger payout with the much more difficult task of winning a standard parlay with each and every one of the teams that he uses for it. Or if he is willing to accept a smaller payout with the security
of knowing he will get something back even if one of his round robin teams fail.
The Fun Factor
Most of all a round robin parlay is a considerable amount of fun. Regardless of what sports you are betting on, a round robin parlay gives you a lot of action with the potential for a still good payout after laying out a relatively small amount. On a college football Saturday, you can create several different round robin parlays that will carry from morning all the way to midnight.
Another great way to enjoy round robin parlays is to make multiple bets from multiple sports. In football you can take a combination of your best pro and college bets from Thursday through Monday night. You can also take a combination of NHL, NBA, and college basketball teams on a multi-sport round robin parlay.
Less serious players that lack huge bankrolls like round robin parlays because of the low price to make the bet with the potential of a major payout with a win. And of course, they like that one loss won’t ruin their gambling evening.
Most online sportsbooks will offer bonuses and incentives for round robin parlays. Check out what your online sportsbook offers and take full advantage of the free money!