A ‘round robin’ betting system is used across North America to give customers the best possible odds when placing wagers on sports. Essentially, round robin allows customers to lay down a series of bets on a variety of sporting events, with the understanding that their betting odds will be good for all of the sports they’ve bet on. This essentially means that, as a customer, you essentially ‘share’ the profits of your wagers with the bookie!
If you’re a fan of sports betting, you’re probably already aware of the advantages of using a round robin system. However, maybe you’re not entirely familiar with how they work, or how they can be implemented into your wagering strategy. That’s exactly why we’ve gone above and beyond the call of duty to explain how to use round robin betting so you can maximize your profits and minimize your losses. Let’s get into it.
The Basics Of Round Robin Bets
First off, let’s discuss the basics of round robin betting. Essentially, this type of wagering strategy is used to reduce the risk of losing your entire bankroll on a series of unlucky sports bets. When you use a round robin betting strategy, you typically lay down a series of wagers on a number of sports, with the understanding that if one of those sports loses, you’ll only lose what you’ve laid down on that particular event. So, if you bet $100 on the New York Jets and they lose, you’ll only lose $100, instead of the entire $500 you had on the wallet!
The idea is to use a mixture of winning and losing teams, so even though some of your bets may lose, you’ll win (on average) enough to make it worth your while.
There are some significant advantages to using a round robin strategy when betting on sports. For one thing, you’re guaranteed to get your money back if one of your bets loses, but you’re not guaranteed to get your money back if all of your bets lose. Another advantage is that, generally speaking, your odds will be better with a round robin system than they would if you placed separate bets on each game. This is mostly due to the fact that sportsbooks (the places that accept wagers on sports) have to take into consideration the fact that some of your wagers may end up being profitable, and therefore, they have to adjust their odds to give you the best possible chance of winning.
How Do Bookies React To A Round Robin Betting System?
As already mentioned, using a round robin betting system is beneficial, as it reduces the risk of losing your entire bankroll if one of your teams loses. However, on the flip side, if all of your teams win, you don’t get the benefit of splitting your earnings with the bookie. In this case, you’ll either have to take a hit or earn a rebate from the bookie. Either way, it’s something you have to consider before you start betting with this specific strategy in mind.
How Does The ‘Round Robin’ Terminology Fit In?
Round robin actually is a reference to the fact that the members of a group of insects will gang up on a smaller creature that wanders around their territory. In this case, the ‘rounder’ will try to eat the smaller animal, while the other members of the group will prevent it from escaping by tying it up with silk strands (hence why it’s often referred to as a ‘silkworm’ strategy).
In sports betting, the term ‘round robin’ is used to describe a wagering strategy where you place separate bets on a series of sports games, with the understanding that if one of those sports loses, you’ll only lose what you’ve placed on that particular game. Essentially, the idea is to spread your wagers across a number of sports in an attempt to reduce the risk of losing your entire bankroll on a series of unlucky sports bets. In other words, round robin allows you to get the most value out of your wagering dollar!
Now that you’re equipped with the basics of round robin betting, let’s discuss how to make the most of this strategy in your favor. To begin with, you should probably familiarize yourself with the general rules of bookie etiquette before you start laying down bets with this strategy in mind.
The Importance Of Research
As a rule of thumb, when gambling, it’s essential to do your research. In the world of sports betting, this means getting to know the sports you’re betting on. For example, if you’re a fan of NFL football, but you’ve never heard of the Harlem Globetrotters, don’t expect to make much sense of their games!
Similarly, if you’re not familiar with a sport, it may be difficult to understand the strategy or action of the game, which can make it harder to succeed when betting on that sport. For this reason, if possible, try to find out as much about a sport you’re not familiar with before you start betting on it. This may mean reading a few books, going to YouTube videos, or asking other people who love that sport about it. Essentially, the more you know, the better you’ll be able to use this strategy to your advantage!
When Should You Use Round Robin Betting?
As mentioned, one of the key goals of round robin betting is to try and reduce the risk of losing your entire bankroll on a series of unfortunate sports bets. For this reason, you should probably only use round robin when you’re gambling on sporting events with the expectation that one or more of those events will lose. For example, if you have a hunch that the Cleveland Cavaliers will lose in the NBA Finals, but you don’t want to risk the entire cost of a ticket to see them play, round robin may be a good option for you.
The other advantage of using this strategy in this case is that since the Cavaliers are expected to lose, the bookie may offer better odds than they normally would for a championship game. Generally speaking, the earlier in the season you use round robin betting, the better. This is mainly because the odds are usually more favorable at the beginning of a season than they are at the end. For this reason, if you have a chance to make some money using this strategy, you may want to consider doing so as soon as possible!
What Sports Should You Bet On?
Depending on your bankroll, it may not be advisable to bet on all sports. For example, if you have a large amount of money to spend and you’re looking to capitalize on a winning streak, it may be smart to limit yourself to more established sports, or the ones that you’re more familiar with. In other words, if you have $10,000 to gamble with and you’ve never heard of cricket, it may not be a good idea to waste your time and money on this sport just because it’s new.
On the other hand, if you have a smaller bankroll and you want the absolute best odds possible, it may be worth your while to explore the world of ‘unproven talent’. In other words, if you want to give it a go and you’ve never used this strategy before, you may want to start with small sports like soccer or hockey, and work your way up. Essentially, the more you know, the better you’ll be able to choose your bets, and therefore, the better your chances of winning will be!
What Are The Most Popular Sports To Bet On?
Depending on your bankroll, it may not be advisable to bet on all sports. For example, if you have a large amount of money to spend and you’re looking to capitalize on a winning streak, it may be smart to limit yourself to more established sports, or the ones that you’re more familiar with. In other words, if you have $10,000 to gamble with and you’ve never heard of cricket, it may not be a good idea to waste your time and money on this sport just because it’s new.
On the other hand, if you have a smaller bankroll and you want the absolute best odds possible, it may be worth your while to explore the world of ‘unproven talent’. In other words, if you want to give it a go and you’ve never used this strategy before, you may want to start with small sports like soccer or hockey, and work your way up. Essentially, the more you know, the better you’ll be able to choose your bets, and therefore, the better your chances of winning will be!