5 Team Round Robin Parlay
A round robin bet is made up of 10 separate bets from 3 different selections. It consists of a trixie with 3 up-and-down bets added. You only need one of the three selections to win to get a return. The 10 winning combinations are: 3 doubles: 1-2, 1-3, 2-3 1 treble: 1-2-3 6 SSAs: 1-2, 1-3, 2-1, 2-3, 3-1, 3-2. Round Robins, also known as a ‘System of Parlays’, allow you to generate all new possible combinations within your Parlay selections by creating new Parlays with all of your original choices. Round Robins can be selected from 3 and up to 15 teams and their payoffs are based on Parlay Factors and true Fractional Odds.
A round robin is essentially an easy way to bet multiple parlays at the same time. You select the outcomes (teams) that you want to involve in the bet and then you choose if you want your parlay bets to include anywhere from 2 to 6 teams. If you select 2 then every combination that includes 2 teams will be parlayed, while if you select say 4 teams, then every combination of 4 different teams will be included.
Round Robin Bet Example
Here is a fairly simple example so you can get a basic idea. Say you want to bet on four teams in a three-way round robin bet. For this example here are the teams: Giants -7, Patriots -10, 49ers +4 and Packers +7. Now let’s say you want to bet $100 on each three-team parlay bet. Here is how the round robin would look:
Parlay #1
- Giants -7
- Patriots -10
- 49ers +4
- $100 Bet to win $595.79
Parlay #2
- Giants -7
- Patriots -10
- Packers +7
- $100 Bet to win $595.79
Parlay #3
- Giants -7
- 49ers +4
- Packers +7
- $100 Bet to win $595.79
Parlay #4
- Patriots -10
- 49ers +4
- Packers +7
- $100 Bet to win $595.79
Overall you would be risking $400 to win a potential profit of $2,383.04. This is quite a bit less than the $4,913.33 you would win by putting all of the teams on one 4-team parlay bet, but the benefit is that if just one of your teams lose you will still win one of your parlays from the round robin and end up with a profit of $395.79.
When To Use Round Robin Bets
Round robin bets are best to use when you feel strongly about several games, but don’t want to risk losing a large parlay. For example, if you are confident about 5 NFL teams heading into Sunday it may be smart to bet these 5 teams in 3-team parlays to get a bigger profit if they all win than just betting them individually, but not having the risk of 1 team losing you the big 5-team parlay.
Typical Round Robin Bet Rules
Most online sportsbooks have the same rules regarding round robin bets, with standard parlay betting rules applying. Most sportsbooks have the minimum number of outcomes included in a round robin set at 3, with the max at 8. While the minimum number of teams in each parlay set at 2, with the max at 6. This maximum of 6 team parlays will only come into play when you are choosing 8 outcomes.
5 Team Round Robin Parlay
How to Bet Round Robin Parlays
by Kevin Schweitzer - 08/12/2007
5 Team Round Robin Parlay Calculator
Raise your hand if you recognize this sequence of events: You've got $50 on a three-team NFL parlay. Your first two teams play early games and cover handily. Your third team plays Sunday night, and you have all day to think about how you're going to spend your money. Several nervous hours later, your team comes out and gets trounced.
At this point, wouldn't you feel better if you could just get your money back and lick your wounds?
There is a way, called the Round Robin Parlay. Of course, nothing comes free, but as you'll see the price for the peace of mind is well worth paying.
The way it works is pretty simple. Instead of putting all your money on one three-team parlay, you split it three ways with three two-team parlays. Each of your three teams gets paired with the other two, much like an exacta box in horse racing. For example, if you like Arizona, Buffalo and Chicago to cover, your three parlays are Arizona with Buffalo, Arizona with Chicago, and Buffalo with Chicago.
So let's see how this works in practice, with a two-team parlay paying the standard 2.6/1 payout. If you put $20 on each leg of a round robin and two teams hit, you win one of your three parlays, for a return of $72 - turning a small profit considering the $60 investment. If all three teams hit, you win all three parlays for a return of $216.
Of course, you could put all $60 on a three-team parlay, and the return if they all hit is $420 - almost double the $216 return of a Round Robin. That's the price you pay for hedging. But over time, the Round Robin actually is the smarter mathematical bet.
5 Team Round Robin Parlay
Here's why: Each side you pick should be a 50-50 proposition, and you should be able to hit three such propositions in a row once out of every eight times you bet it (1/2 * 1/2 * 1/2 = 1/8). However, you should also get two of the three correct another three times out of those eight. If you bet a three-team parlay for $60 each, you can expect a return of $420 once out of every eight plays, on an outlay of $480. By spending that $60 on eight Round Robins, you'll have the same $480 outlay with a return of $432 - a one-time return of $216 and three other returns of $72.
How Does A 5 Team Round Robin Parlay Work
Of course, if you can pick winners more than 50 percent of the time, you can raise those numbers to the break-even point. In fact, the return on investment for a standard three-team parlays passes the return on a Round Robin at a win rate of only slightly higher than 50 percent. But if you can pick winners, there's lots of ways to make money gambling. If you're picking less than 50 percent like most people and you still love the thrill of the parlay, the proper way to hedge it is with a Round Robin.