Round Betting Definition

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A Round Robin Bet is a convenient way to create multiple parlays at one time. Most sportsbooks will allow you to pick 3-8 lines and combine them in parlays of 2-6 teams. You can make the same bet by making individual parlays but it would take a lot longer. The Round Robin Bet allows you to make multiple parlays very quickly. What is a Round Robin? Round robin wagers are an easy way to create multiple parlays at once. Select between 3 and 8 lines, then combine them into several parlays of 2 to 7 teams. The advantage to this type of wager is you can make your money back by hitting only one winning combination. Round Robin Betting Round Robin betting is a very fun and quite simple way of putting several parlays together at once. When you place a bet on a round robin, you are picking anywhere from 3 to 8 teams you would like to bet on. Following that, you will elect to do parlays of anywhere from 2 to 6 teams.

With your basic round bet, you are simply trying to predict which round will be the last fought. It can be pretty tough to guess the right round, more challenging than simply picking the winner. For this reason, you can get some great odds.

A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.

The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.

The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.

Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!

Placing a parlay bet

There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.

Some mobile sports wagering apps offer both types of parlay bets.

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Winning a parlay

There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.

Parlay odds

Betting

Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.

Parlay payouts

Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.

If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.

Types of parlays

A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.

Round Robin

A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.

Round Robin Betting Definition

The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.

The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.

Round Robin Betting Strategy

The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.

Betting

Teaser

A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.

Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.

  • For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.

Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.

Parlay Cards

The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.

Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.

NHL

Available Bet Types:Straight Wagers, Proposition Wagers, Parlays, Live Wagers, Period Wagers, Round Robins, Futures, Double Result

Spread/Puck Line Wagering

Spread/Puck Line Wagering in Ice Hockey is a straight wager on the goal spread. When making a spread wager, the team you wager on must cover/beat the goal spread. This means that the favored team must win by more than the minus spread value. The underdog must win the game, or lose by less than the plus value. Overtime counts.

What you need to know
  • Games must go 55 minutes for wagers to stand. If a game is suspended prior to the 55th minute of play wager will be void unless the result of a wager has been clearly determined during the normal course of play.
  • Overtime (including any subsequent shootout) counts for all markets unless stated otherwise.
  • In the event of a shootout, the winning team will be credited with one goal. This counts for all applicable wagers, like spreads and totals.

Round Betting Explained

Additional NHL Betting Rules
  • Double Result: For this wager you are choosing which team will be winning at the end of the 1st period followed by which team will be winning at the end of the 3rd period. So if you select Team A/Draw, your wager would be on Team A to be winning after the 1st period and a draw at the end of the 3rd period.
  • Player Props:

Overtime counts for all player proposition markets. Players must appear on the ice during play for wagers to stand. If the player does not appear on the ice, wagers are voided. Only goals scored in regulation or overtime count for settlement purposes. Shootout goals do not count.

  • Anytime/First Goalscorers:

Round Robin Sports Betting Definition

For the purpose of settlement all skaters who are dressed to play are considered runners. In the event a player does not dress for a game, wagers on that player will be void. Only goals scored in regulation or overtime count for settlement purposes. Shootout goals do not apply for settlement.