Round Betting Definition

• Round Robin Betting Strategy
• Round Robin Betting Definition
• Round Betting Explained
• What Is A Round Robin Betting

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Action - A sports betting wager of any kind, a bet.
Added Game - For sports betting, a game not part of Las Vegas regular rotation posted as an accommodation to customers.

A round robin bet is a set of parlays on 3-or-more teams that are all entered at once. The bet is determined by selecting the 3-or-more teams included in the round robin and the size of the. 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.

Angles – Using key factors from previous events to predict the results for future outcomes.
ATS - 'Against the spread,' taking points rather than betting with the spread and laying points in sports betting.
Beard - In sports betting a beard is a friend or acquaintance who is used to place bets as to conceal the true identity of the real bettor.

An NFL Round Robin bet takes the NFL lines you want to bet on, and turns them into multiple parlays, which spreads the risk around, making it more likely that you’ll win at least one of your parlays. 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.

Bet – To risk something on the outcome of an event
Book - In sports gambling a Book is an establishment that accepts bets on the outcome of horse racing and sporting events.
Bookie - In sports wagering a person who accepts bets.

Bookmaker – see ‘bookie’

Buck - Sports betting term for a $100 wager.
Buy (Points) - In sports betting, a player pays an additional price to receive half a point or more in his favor on a point spread game.
Canadian Line - In sports betting the Canadian line is a combination point spread and money line in hockey.
Chalk - The favorite.
Chalk Player - In sports gambling this person is someone who usually only plays the favored teams, rarely betting on the underdogs.
Circled game - In sports wagering this is a game in which the betting action is reduced; usually occurs in added games, games with injuries, bad weather, propositions, or halves of games. These games cannot be included in parlays or teasers
Cover - In sports betting this term means a pointspread win.

Data Mining- Searching through a large volume of statistics to find profitable situations to bet on in the future.
Dime - $1000.00 sports betting wager.
Dime Line - In sports betting a Dime line is a line where the juice is 10%.
Dog - In sports betting, the team perceived to be most likely to lose.
Dog Player - In sports gambling this term refers to one who mostly plays the underdog.
Dollar - $100, in sports wagering.
Double action - An 'if bet' in sports betting that is processed if the precedent bet wins, ties or cancels.
Double Bet - In sports betting a double bet is a wager for twice the size of one's usual wager; also known as 'double pop' or 'doubling up.'
Edge - A persons Advantage when it comes to sports betting.
Even Money - Sports betting term 'Even money' is a bet whose odds are 1/1; a wager in which no vigorish or juice is laid.
Exotic - In sports gambling the term Exotic is any wager other than a straight bet or parlay - also called a prop or proposition.
Exposure - The maximum amount of money a sports book stands to lose on a game.
Favorite - In sports betting this it the team expected to win an event. The quoted odds reflect the extent to which the choice is favored.
Fifty cents - $50.00 of sports betting action.
Figure - For sports betting, Figure is the amount owed to or by a bookmaker.
First half bet - In sports betting this is a bet placed only on the first half of the game.
Future - In sports gambling odds are posted in advance on the winners of various major events including the Super Bowl, the World Series, the Stanley Cup, and the NBA Championship this is called a Future bet.

Gamble- To risk money on the outcome of an event.
Getting Down - Sports wagering meaning making a bet.
Grand Salami - A sports betting term meaning the grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under.
Half a dollar - $50.00 in sports betting action.
Half time bet - In sports betting this is a bet placed only on the second half of the game.
Handicapper - When it comes to sports betting a handicapper is one who studies, rates and wagers on sporting events and/or races.
Handicapping - In sports gambling this is the attempt to predict the outcome of sporting events.
Handle - A sports wagering term that means the total amount of bets taken.
Hedging - A sports betting term that means placing wagers on the opposite side in order to cut losses or guarantee a minimum amount of winnings.
Hook - In sports betting a Hook is a half point added to football and basketball betting lines.
Hot game - Sports betting term for a game that is drawing a lot of action on one side by knowledgeable handicappers.
Juice - The bookmaker's commission on a losing bet, also known as 'vigorish.'
Laying the points - Betting the favorite by giving up points.
Laying the price - In sports wagering, laying the price means betting the favorite by laying money odds.
Layoff - sports betting term for money bet by a house with another bookmaker to reduce its liability.
Limit - In sports betting limit is the maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.
Line - In sports betting, the current odds or point spread on a particular event.
Linemaker - In the sports betting industry this is the person who establishes the original and subsequent betting lines.
Listed Pitchers - In sports gambling a listed pitcher is a baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.
Longshot - In sports wagering this is a team or horse perceived to be unlikely to win.
Middle - To win both sides of the same contest in sports betting event. Wagering on the underdog at one point spread and the favorite at a different point spread and winning both sides.
Money line - odds expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered.
Move the line - A player pays an additional price to receive half a point or more in his favor on a point spread game.
Nickel - $500.00, in on a sports gambling wager.
Nickel line - A sports wagering line where the juice is 5%.
No action - A wager in sports betting in which no money is lost nor won.

Odds- The likelihood of the outcome occurring, stated in numbers form.
Off the board - In sports betting this is a game on which the bookmaker will not accept action.
One dollar - $100.00 in sports betting action.

Opening Line- The earliest line posted for a particular sporting event.
Outlaw Line - Term for the earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.
Over - In sports gambling the 'over' is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.
Parlay - In sports wagering, a bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts.
Pick 'em - When neither team is favored. Also called a 'pick' in sports betting terms.
Point spread - In sports betting this is the predicted scoring differential between two opponents as quoted by a sports book.

Power Ratings- The strength of a team in comparison to another team.
Press - In sports betting this means to wager a larger amount than usual.
Price - Sports betting term for the odds or point spread.
Prop (Proposition) Bet - In sports gambling this is a special wager offered by the sports book on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the money line format of pay off odds and might included who scores the first touchdown in the super bowl, who will win the next presidential election, or whether or not O. J. will be found guilty.
Puckline - A puckline for sports wagering is giving odds of a goal spread instead of using a Canadian Line in hockey, where both a goal spread and money line are played.
Puppy - The underdog in an event.
Push - When the contest ends with no winner or loser for wagering purposes.
Round Robin - In sports betting this a series of three or more teams in 2-team parlays.
Run down - In sports gambling this is all the lines for an specific date, sport, time, etc.
Run line - In baseball a spread used instead of the money line.
Runner - One who places bets for another when it comes to sports betting.
Scouts - person(s) who waits for what he thinks is an unusually strong wager. AKA. Sports Player.
Sharp - When it comes to sports betting a sharp is a sophisticated or professional gambler.
Sides - In sports betting, the names of the two teams playing: the underdog and the favorite.
Single action - An 'if bet' in sports gambling that is processed only if the precedent bet wins.

Sportsbook- a person or company that accepts bets.
Spread - A spread in sports wagering is the predicted scoring differential between two opponents as quoted by a sports book. See 'point spread.'
Square - A novice when it comes to sports betting.
Steam - In sports betting steam is when a line starts to move rapidly. Most 'steam games' do not necessarily reflect objective circumstances, but are games that a mass of bettors is drawn to for some reason.
Store - A bookie or sports betting establishment.
Straight bet - In sports betting this is a wager on just one team or horse.

Straight-up- Winning the game without any regards to the pointspread.

Systems- Using trends for the past that you are consistent with to predict future outcomes.

Taking the points - When it comes to sports gambling this means betting the underdog and its advantage in the point spread.
Taking the price - In sports wagering this means betting the underdog and accepting money odds.
Teaser - A teaser is a special type of parlay in sports betting in which you adjust the point spread or total of each individual play. The price of moving the point spread (teasing) is lower pay off odds winning wagers.
Ticket - A sports betting wager.
Tie - In sports betting a tie is a wager in which no money is lost nor won because the teams' scores were equal to the number of points in the given line.
Total - The combined amount of runs, points or goals scored by both teams during the game, including the overtime.
Totals Bet - In sports gambling this is a proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sports book.
Tout - Someone who sells their expertise on sports wagering.

Trends- Using the past to predict the future focusing in on only one team.
Under - When it comes to sports betting a under is a wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.
Underdog - The team perceived to be most likely to lose. Also known as the 'dog' in sports betting terminology.
Value - In sports betting value means getting the best odds on a wagering proposition; the highest possible edge.
Vigorish - The bookmaker's commission on a losing bet; also known as juice in sports betting.

Wager- To risk money on the outcome of an event.
Wise guy - A wise guy is the sports gambling term for a well-informed or knowledgeable handicapper or bettor.

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.

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.

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.

Round Robin Betting Strategy

Round Robin Betting Definition

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.

Round Betting Explained

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.

What Is A Round Robin Betting

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.