What is a Round Robin Bet? | Combination bets that help you multiply your winnings
You’ve probably heard of an accumulator or parlay before if you’ve ever been to a bookie’s, or you’ve browsed through an online sportsbook. If you’re familiar with more advanced bets, you might have even heard of Yankee bets and Trixie bets, which are different types of round robin bets.
These can be a little difficult to understand, as they’re more complicated than your typical parlay. If you’ve come here looking to deepen your understanding of Round robin bets, you’re in for exactly what you wanted.
Let’s take a look at what a round robin bet is first, and then we’ll discuss the different kinds of round robin bets you might see in sportsbooks
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What is a round robin? | Round robin bets explained
If a parlay is a consolidation of single bets, then a round-robin is a consolidation of parlays.
Round robin bets can come in all shapes and sizes, and there’s different names for them depending on the number of fixtures involved (more on that later). Given how complex it would be to explain generally, let’s explain what round robins are via a single four-way example.
Let’s say the following soccer games are being played on one action-packed weekend:
- West Ham United vs. Wolverhampton Wanderers
- Manchester United vs. Crystal Palace
- Brighton and Hove Albion vs. Leeds United
- Leicester City vs. Aston Villa
You intend to bet on all four fixtures, and after doing your research you find that the outcomes you want to bet on are as follows:
- Wolverhampton Wanderers will defeat West Ham United
- Manchester United will defeat Crystal Palace
- Leeds United will defeat Brighton and Hove Albion
- Leicester City will defeat Aston Villa
Round Robin Outcomes
Structuring those outcomes into a four-way round-robin bet will require you to place a total of 11 bets:
Six two-way parlays, or double bets:
- Wolverhampton Wanderers will defeat West Ham United and Manchester United will defeat Crystal Palace
- Wolverhampton Wanderers will defeat West Ham United and Leeds United will defeat Brighton and Hove Albion
- Wolverhampton Wanderers will defeat West Ham United and Leicester City will defeat Aston Villa
- Manchester United will defeat Crystal Palace and Leeds United will defeat Brighton and Hove Albion
- Manchester United will defeat Crystal Palace and Leicester City will defeat Aston Villa
- Leeds United will defeat Brighton and Hove Albion and Leicester City will defeat Aston Villa
Four three-way parlays, or treble bets:
- Wolverhampton Wanderers will defeat West Ham United, Manchester United will defeat Crystal Palace and Leeds United will defeat Brighton and Hove Albion
- Wolverhampton Wanderers will defeat West Ham United, Manchester United will defeat Crystal Palace and Leicester City will defeat Aston Villa
- Wolverhampton Wanderers will defeat West Ham United, Leeds United will defeat Brighton and Hove Albion and Leicester City will defeat Aston Villa
- Manchester United will defeat Crystal Palace, Leeds United will defeat Brighton and Hove Albion and Leicester City will defeat Aston Villa
One Four-Way Parlay
Wolverhampton Wanderers will defeat West Ham United, Manchester United will defeat Crystal Palace, Leeds United will defeat Brighton and Hove Albion and Leicester City will defeat Aston Villa.
This is what we call a Yankee bet, which is the generic name for a four-way round robin. If you stand to win 25 dollars on every 10 dollars wagered for doubles, 40 dollars on 10 dollars wagered for trebles, and 60 dollars on 10 dollars for the four-way parlay, you’d be looking at total winnings of 370 dollars on 110 dollars wagered (10 dollars x 11 bets = 110 dollars). That’s over a 3x return on your initial investment.
While that may seem enticing, there’s another factor to consider before you rush to your bookie. Let’s say one of your picks goes awry, and Wolverhampton ends up losing to West Ham. You’d end up losing 7 out of your 11 wagers – three double bets and three treble bets, as well as the four-way accumulator. So your winnings would go down to 115 dollars on 110 dollars; which doesn’t even amount to a 5 percent return. If you missed the mark on two out of the four fixtures, you’d only win out on one of your double bets, leaving you 85 dollars in the hole.
Round Robin Betting vs. Conventional Parlays
That’s the trick to round robins. They give you a slightly larger amount of insurance compared to a simple parlay, in exchange for a reduction in your winnings. You stand to win a maximum of 370 dollars on a 110 dollar bet with a Yankee bet, whereas If you’d just bet 110 dollars on the four-way parlay, you’d have received 660 dollars total. On the other hand, whereas you’d still break even missing one of your picks on the round robin, you’d go home 110 dollars in the red if you’d just bet on the accumulator.
The different kinds of Round Robin bets
You know now that a four-way round-robin is called a Yankee bet, but there’s other round robins on offer as well.
A Trixie bet is a three-way round robin consisting of four bets in total. It has three double bets and one treble.
A Canadian bet is a five-way round robin consisting of twenty six bets in total. It has ten doubles, ten trebles, five four-way parlays and one five-way parlay.
A Heinz bet is a six-way round robin that has fifty seven bets in total. It consists of fifteen doubles, twenty trebles, fifteen four-way parlays, six five-way parlays and one six way parlay.
Super Heinz bet
A Super Heinz bet is a seven-way round robin that has one hundred and twenty bets in total. It consists of twenty one doubles, thirty five trebles, thirty five four-way parlays, twenty one five-way parlays, seven six-way parlays and one seven-way parlay.
Round robin bets can also feature single bets for each individual fixture for a little added security. These round robins are called lucky bets, and all of the above bets can have their own lucky version. A Yankee bet with the addition of four singles is called a Lucky 15, while a Canadian bet with the addition of five singles is called a lucky 31, and so on.
We’d advise novice bettors or people with limited knowledge of the sport they’re betting on to steer clear of the larger round-robin bets. While they hold the prospect of big winnings, they also require a big initial investment, so you stand to lose quite a bit if you’re structuring a Goliath bet, for example, even if individual bets are only 20 cents each (20 cents x 247 bets = 49.40 dollars).
Stick with Trixies and Yankees to start off with, or their corresponding lucky bets, and work your way up as you gain confidence. Good luck with your bets!
What is a Round Robin FAQs
A round robin bet is a type of wager that combines multiple parlay bets into one. It allows you to place bets on a group of selections, and it generates various parlay combinations from those selections.
A round robin bet works by breaking down a set of selections into smaller parlay bets, creating multiple combinations. Its purpose is to offer bettors a way to cover different scenarios while minimizing risk, as you can still win even if not all your selections are correct.
Common types of round robin bets include the standard round robin, the Yankee bet, and the Trixie bet. Each type has its unique characteristics and number of combinations, making them suitable for different betting strategies.
Yankee bets and Trixie bets are variations of round robin bets. A Yankee bet typically consists of four selections and 11 different combinations, while a Trixie bet includes three selections and four combinations. Standard round robins can involve more selections and combinations.
Advantages of round robin bets include increased flexibility and the potential for winning even if not all selections are correct. However, they can be more complex to understand and may require a larger stake due to multiple bets. It’s essential to carefully consider your betting strategy and risk tolerance when using round robin bets.