Sports Betting Guide and Terms - Round Robin Sports Betting Terms

Round Robin

Definition

A round robin is basically a combination of 2 team parlays involving 3 or more sides / totals. It is basically a fancy way of saying / playing 3 sides. This type of betting is not recommended, and is a quick way of depleting one’s bankroll.

Who bets this way?

The general public, who loves to bet parlays, are the usual people who bet round robins. In this type of betting, a sports bettor selects 3 or more sides and places them in a series of 2 team parlays. Basically it is another way of playing parlays.

A note about parlays

As stated in another article, parlays are a bad bet in general. Too many variables come into play when one considers parlays. They are the sportsbooks best friend and should be avoided at all costs. The majority of all sharps and professional sports gamblers agree that parlays, round robins, and the like are mathematically unsound. If one is going to play 2+ sides, then it would behoove the sports bettor to play such sides individually. Parlays are bad—the author cannot stress this enough times. If one is very comfortable with picks, one should not play them in parlays. It is better to play them individually and bet them accordingly, rather than locking them up in a parlay. There is just too many parameters to be satisfied. Do not give yourself a headache by relying on a parlay to save your bankroll. If you are considering playing parlays, round robins, etc., the sportsbooks have already won.

A concise mathematical treatise about parlays

Consider playing a 4 team parlay, or round robin. The possible outcomes could be 4-0, 3-1, 2-2, 1-3, and 0-4 (notice that only one combination—4-0—results in a parlay being graded as a winner). Mathematically, it is more statistically more likely to not have a result of 4-0 than having the other possible combinations. Notice that the only losing combinations is 1-3 and 0-4 (2-2 is technically a push, less the vigorish). Although the gambler must wager more to cover the 4 bets, he / she is playing the odds and should not be completely wiped out of the hobby (whereas if he / she were to parlay, the only way to win would be to go 4-0).

Summary

A round robin is a series of 2 team parlays that is composed of 3 or more sides that a sports gambler chooses. It is usually a losing venture and should not be normally attempted by the sports gambler.