Definition of Round Robin Bet

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What does the term "round robin bet" mean in the world of sports betting? What is the definition of the term "round robin bet"?

If you have used a sports betting site like Fanduel, you can probably come across the "round robin bet".

Or, maybe you've seen a bet slip posted on Twitter, which says something like:

Round Robin (By 2's) x 3 wagers

Or something similar.

Let's take a traditional 3-team parlay bet and compare it to a Round Robin wager.

Let's say that you like New England, Denver and the Buffalo Bills to all cover.

With the traditional parlay, you'd need all three times to cover in order to win your ticket.

With the Round Robin, you are making a number of 2-team parlays.

So, your 3-team, "By 2's x3 wagers" Round Robin ticket would have three different 2-team parlays:

Patriots and Broncos
Patriots and Bills
Bills and Broncos

If your wager of choice is $50, the total cost of your ticket would be $150, as you would be making three 2-team parlay bets.

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You can increase the number of teams on your ticket, and/or increase the number of teams within each parlay.

For instance, let's say that you pick four teams for a Round Robin ticket.

You could choose "By 2's x6 wagers", which would mean that the ticket would create six different two-team parlays of the four teams.

Or, you could increase the number of teams in each parlay to 3, which would create a total of four three-team parlays.

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The main advantage of the round robin bet is that a single losing choice won't ruin your entire ticket.