A round robin (RR) is simply a nickname for a type of parlay wagering strategy. You take a group of three or more selections and put them in combinations of individual parlays. You could enter these parlays individually yourself, but a lot of sportsbooks allow you to select a round-robin option and do it automatically. This proves to be a much faster proposition.
Parlay Betting Explained: How Parlay works Parlay betting is the second most popular betting option at the sportsbooks, after the straight bet. It offers the bettor a chance to win big while risking very small amounts of money, but naturally, the chances for a successful bet are much smaller, as compared to the straight bet. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win. To give an example, say you’re interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. 2 Team Parlay Payouts - Betting Parlays Explained Payouts on a 2 team parlay are standard throughout the industry at 13/5. Sportsbooks will pay $2.64 for every $1.00 wagered. Dec 20, 2019 A parlay is sort of like poppers mixed with molly mixed with cocaine mixed with a heart condition.
![Parlay formula explained Parlay formula explained](/uploads/1/3/6/2/136205600/697005737.png)
Round robins get a lot more complex as the number of teams goes up. A two-way round robin means that you are betting as many different two-team parlay combinations as you can with a given number of teams. On a three-team RR two-way parlay, you would have three different two-teamers.
What is a parlay? A parlay bet is a wager that links several single bets together to form one bet. The winnings from every single bet are reinvested into the next leg of the parlay. A parlay bet is also called an accumulator bet, and on first glance appears to be the same as a multi bet. However, there are different versions of the parlay bet that distinguish it, notably, the parlay.
Let’s just give an example to show you how a three-team RR two-way bet would work. You like three teams we’ll call the Cowboys -7, Packers -7 and 49ers +4. Let’s say you wanted $100 on each pair. Here’s how your wagers would look:
- Parlay 1:
Cowboys -7
Packers -7
Betting $100 to win $260 - Parlay 2:
Cowboys -7
49ers +4
Betting $100 to win $260 - Parlay 3:
Packers -7
49ers +4
Betting $100 to win $260
How Do You Win a Round Robin?
So, you’ll be risking $300 for a potential profit of $780. Your only options will be to lose all three, win all three, or lose two and win one. If you lose all three, you would obviously be out $300. If you win one and lose two, you would win $60. So, you basically have to go 2-1 or 3-0 to show a profit.
Are They Worth It?
That’s why it might be better to just bet all three separately for $100 each because if you go 2-1, you win $90 instead of $60. If you go 1-2 you lose $120 instead of $300. However, if you go 3-0, you would only win $300 compared to $780! The chances of going 3-0 are 7/1, meaning you will only hit one three-team parlay out of every seven you bet.
Here is a look at the Round Robin table showing you how many picks, how many ways you can bet them, and how many different combinations of bets you will have for each.
Picks | Ways | Number of Bets |
---|---|---|
3 | 2 | 3 |
4 | 2 | 6 |
4 | 3 | 4 |
5 | 2 | 10 |
5 | 3 | 10 |
5 | 4 | 5 |
6 | 2 | 15 |
6 | 3 | 20 |
6 | 4 | 15 |
6 | 5 | 6 |
7 | 2 | 21 |
7 | 3 | 35 |
7 | 4 | 35 |
7 | 5 | 21 |
7 | 6 | 7 |
8 | 2 | 28 |
8 | 3 | 56 |
8 | 4 | 70 |
8 | 5 | 56 |
8 | 6 | 28 |
As you can see, there are so many different combinations you can bet. The problem is that the more teams you have, the more bets you are going to have to place. Say you have eight teams and want to do as many 4-team parlays as you can do with those eight teams. Well, there’s a whopping 70 different combinations of 4-team parlays with eight teams. So, if you’re betting $100 on each parlay, that means you will be betting $7,000.
It’s simply not worth the risk in my opinion. If you go 3-5, you lose all 70 bets for a grand total of $7,000. You would have to go at least 4-4 to get any money back, and even then you’d only hit one 4-team parlay at 10/1 odds, which would bring back $1,000. So, you’d still lose $5,900 by simply going .500. You’d lose 69 bets at $1000 each and win one for $1,000.
The novice sports bettor sees a chance at a huge payout with these Round Robin parlays. And, if you do bet as many parlays as you can with six teams and go 6-0, then you are going to make a fortune. But how many times have you actually gone 6-0 in a day? The chances of doing so are slim to none, and if you bet too many of these Round Robin parlays, then you’re going to be broke before you ever get the chance to go 6-0.
Chiefs -3 (-120)
I’m amazed to see that this line is still as low as it is. The Chiefs absolutely crushed the Bills in the AFC Championship Game, and quite frankly I can’t see how any team would be capable of stopping Kansas City right now. Fantasy star online two ps4. Patrick Mahomes, Tyreek Hill, and Travis Kelce continue to dominate opposing defenses, and the Buccaneers aren’t exactly known for being stout defenders of the pass. Granted, nothing is guaranteed when it comes to the Super Bowl (just watch either game between the Patriots and Giants for proof on that), but I just can’t see how Tampa Bay will be able to keep up with Kansas City.
![Explained Explained](/uploads/1/3/6/2/136205600/795189456.jpg)
Tom Brady has had his struggles during the playoffs, including when he threw three interceptions against the Packers last week, and I think this Chiefs defense is vastly underrated. They did a tremendous job in coverage against the Bills last week and caused Josh Allen all kinds of problems. I expect more of that here and, all things considered, the Chiefs should win this one by a touchdown.
Under 56.5 points (-115)
Picking the under in my Bills vs. Chiefs same game parlay is what cost me last time, but I’m sticking with it here. After all, 56.5 is a seriously high line considering neither defense is a slouch. As I just mentioned, the Chiefs defense has played really well so far in the playoffs, shutting down Allen and severely limiting the production of Baker Mayfield. Further, Brady hasn’t played nearly as well as he was at the end of the regular season and could be in for another tough night here.
Of course, it’s hard to come up with reasons to doubt the Chiefs’ offense, but the Bucs are renowned for their run defense and I’m sure defensive coordinator Todd Bowles will have used the past two weeks to come up with ways of limiting Mahomes’ production. This could very well wind up being a shootout and still not feature 57 points. It may send your nerves sky-high, but add the under to this same game parlay.
Tyreek Hill to score a touchdown (-160)
Parlay Betting Explained
Let’s not make this any more complicated than it has to be. Earlier this season, Tyreek Hill posted 269 receiving yards and three touchdowns against the Buccaneers and has been phenomenal in the playoffs so far. In fairness, he hasn’t actually found the endzone in his last three games, but surely he’s due to find it again soon. The Bucs defense has already shown it can’t handle Hill, and even if Bowles opts to have him double covered he should still have a few opportunities to score a touchdown. He’s had 17 total receptions in his last two games, and should once again feature heavily in Kansas City’s offense. If the Chiefs do wind up scoring a bundle of points, bank on Hill to be responsible for at least six of them.
Cameron Brate to score a touchdown (+250)
Adding Cameron Brate to score a touchdown may seem like a bit of a wild card but I think it makes a lot of sense, especially at the odds available. The Chiefs defense allowed the seventh-most touchdowns to tight ends during the regular season (nine) and in the playoffs so far has struggled to contain Cleveland’s David Njoku and Buffalo’s Dawson Knox. Those two combined for 10 receptions across those two games and Brady has already shown during the playoffs he’s happy to throw the ball to Brate — the tight end has 11 receptions for 149 yards in the playoffs so far. He found the endzone against Green Bay last time and may serve as a good option for Brady to throw to if Gronk is covered. This one really bumps up the odds of our same game parlay and is worth taking a chance on.
Parlay Formula Explained
- Make sure you also read about our best player props for the Kansas City Chiefs and for the Tampa Bay Buccaneers