Sportsbook betting offers you an exciting opportunity to be a more invested part of any game. However, it can be risky—more so if you don’t know the game or the players that you are betting on well. Learning different bet types and betting strategies can help you minimize your risk while still enjoying the thrill of betting.
Round robin betting is a popular betting type that allows you to minimize your risk while still positioning yourself to win big money. You can try your hand at round robin betting at the DraftKings Sportsbook at Boot Hill Casino, which offers a comfortable and vibrant atmosphere in which to watch your favorite games while also enjoying the thrill of gambling on the outcome. Our friendly and knowledgeable associates are always ready to answer your questions about betting strategies to ensure that you have the information you need to make smart choices and enjoy the game.
What is Round Robin Betting?
Round robin betting is a popular betting strategy used in sports wagering. It is a way to create multiple parlay bets from a set of three or more teams or outcomes. This type of bet is favored for its flexibility and potential for high returns. Unlike traditional parlays that require all selections to win, round robin bets can offer a return even if some of the parlays within it lose, making it a preferred choice for those who seek to balance risk and reward. With the right round robin bet, you can lose a little but still come out ahead in the end.
How Does a Round Robin Bet Work?
A round robin bet includes a series of smaller combination bets created from a larger list of available bets. For example, if you have betting options A, B, and C, a round robin bet would create bets like A+B, A+C, and B+C. The strategy allows bettors to spread their risk across multiple combinations. Understanding the nuances of creating parlays, deciding on the size of your bet, and selecting teams can all help you formulate a winning strategy.
Creating parlays in round robin betting involves selecting multiple teams or outcomes and combining them into smaller parlay bets. Each parlay is treated as a separate bet, and its success is independent of the others in the round robin. The key to success with creating parlays is to identify combinations that have a good balance of risk and potential return.
Deciding Bet Size
The size of your bet in a round robin is crucial as it determines your potential payout and your risk exposure. Know how much you stand to win for any bet, as well as how much you stand to lose. You can minimize your risk by choosing more bets that have a larger payout potential and a lower possible loss. Remember that the bet size is usually consistent across all parlays within the round robin, and be sure that you consider your overall bankroll and how much you are comfortable risking.
Selecting the right teams or outcomes is pivotal in round robin betting. Understanding the dynamics of the sport and the teams involved and researching history and performance can significantly impact your chances of success. Look for value bets, where the potential payout outweighs the perceived risk.
How to Calculate Round Robin Odds
Calculating the odds of a round robin bet involves determining the combined odds of each parlay within it. This requires multiplying the odds of each selection within a parlay and then combining the results of all parlays. The total odds give an overview of the potential return from the round robin bet, but remember, the final payout depends on the outcome of each individual parlay.
Round Robin Bet Example
To illustrate, let’s consider an example with four teams: A, B, C, and D. In a round robin bet, we create parlays of these teams in pairs: A+B, A+C, A+D, B+C, B+D, and C+D. If you decide to include triples, you would also have A+B+C, A+B+D, A+C+D, and B+C+D. Each of these combinations is a separate parlay bet. If one parlay loses, it doesn’t affect the others, giving you multiple opportunities to win.
How to Place a Round Robin Bet
Placing a round robin bet varies depending on the sportsbook. Generally, you select the teams or outcomes you want to bet on, choose the “Round Robin” option, and then decide on the number of teams per parlay (usually 2 to 6). The sportsbook will automatically create all possible parlay combinations. You then decide on the stake for each parlay within the round robin.
Calculating Round Robin Bet Payouts
The payout for a round robin bet is the sum of the payouts for each winning parlay within it. To calculate this, multiply the odds of each selection in a parlay, then multiply the result by your stake for that parlay. Add up the payouts for all winning parlays to get the total payout. Remember, the total return could vary significantly based on the number of parlays that win.
Round Robin Betting Strategies
Round robin betting is a larger strategy within sports betting, balancing risk and potential return. However, there are also strategies within the round robin bet, and learning them can help you maximize your potential winnings. Try out the following strategies to improve the effectiveness of your round robin bets:
Diversifying parlays in a round robin bet involves mixing high-risk and low-risk selections. This can balance the potential high payouts from riskier bets with the stability of safer bets, providing a more balanced betting portfolio. With this strategy, you may lose one of the riskier bets within the round robin, but you may win several of the safer bets, thereby netting you more profit than loss. Of course, you could also win the riskier bets and just enjoy a huge profit.
Full/Limited Coverage Strategy
You can choose full coverage, where you include all possible parlay combinations, or limited coverage, where you select only certain combinations. Full coverage increases your chances of winning but requires a larger investment, while limited coverage focuses on the combinations you are most confident in. If you have more to invest, you may be looking at a bigger win.
Bankroll management is key to your success in any type of gambling. Round robin betting is unique in that it incorporates several parlays in one, and that makes it easy for you to spend more than you intend. Those smaller numbers add up quickly. You can avoid losing more than you can afford by setting a budget at the outset of your gaming, as well as for each bet. Then make sure you stick to it. Doing so ensures that you risk only what you can afford to lose.
Round Robin Nicknames
Round robin bets are often known by various nicknames, each representing a specific combination or strategy. Learning these nicknames will make you sound like you’re an expert who’s been betting on the games for years. Learning the nicknames and the strategies behind them will also help you make better choices in your play that can lead to bigger wins.
Yankee and Canadian
A “Yankee” consists of 11 bets involving 4 selections in different events. This includes 6 doubles, 4 trebles, and a fourfold accumulator. Go a bit farther north and you have the Canadian,” which is also known as a “Super Yankee.” This round robin bet involves 5 selections in different events. This bet comprises 10 doubles, 10 trebles, 5 fourfold accumulators, and a fivefold accumulator, totaling 26 bets.
Trixie and a Patent
A “Trixie” is a smaller version of a round robin and includes 4 bets involving 3 selections in different events. This comprises 3 doubles and a treble. Meanwhile, a “Patent” includes all the bets in a Trixie plus three additional singles, making it a total of 7 bets. These types of round robin bets offer a combination of risk management and payout potential.
Bet at the DraftKings Sportsbook at Boot Hill Casino
Try out round robin betting at the DraftKings Sportsbook at Boot Hill Casino, which offers a user-friendly interface and a wide range of betting options. The DraftKings Sportsbook has a robust platform that gives both beginners and experienced bettors the chance to engage in round robin betting and other exciting sports betting strategies to take their love of the game to the next level.
Boot Hill Casino provides a comfortable and inviting gaming atmosphere that includes plush lounge chairs, big-screen TVs, and delicious snacks and cocktails. You can kick back and watch as much as you want, get up to have a hearty meal at one of our dining establishments, or order a cocktail right at your seat. Our rewards club gives you the chance to earn perks as you play and win. Join us today to watch your favorite games and get in on the action!