In a Round Robin bet, combinations of picks are formed. An example is as follows: You have selected four different picks and opted for a 2/4 Round Robin bet. This means that you will be placing a total of six bets, since there are six possible winning pairs based on those four predictions.
If only one wins, you lose your entire stake, because although one of your selections won, your returned stake on that winning selection was automatically reinvested in the other losing selection. However, you would still retain any profit from the selection you got right.
Round robins typically take a larger investment than traditional parlays, but it also increases potential profit while lessening the chance of a total loss. Round robins also offer the opportunity to hedge and minimize losses. Hedging involves picking the other side of a wager.
How do You Win a Round Robin Bet? To win a wager like this, you must pick at least two correct outcomes from your overall selections. These selections can contain single moneyline outcomes, or a team parlay. In fact, at your favorite online sportsbook, you can choose and combine all manner of different wager types.
For instance, a tournament of 16 teams can be completed in just 4 rounds (i.e. 15 matches) in a knockout (single elimination) format; a double elimination tournament format requires 30 (or 31) matches, but a round-robin would require 15 rounds (i.e. 120 matches) to finish if each competitor faces each other once.
Instead of creating a five-team parlay where one loss would cause the ticket to lose, betting a round robin would break those five teams into smaller parlays. Depending on how the ticket is structured, the bettor can lose one or more leg and still be profitable.