A parlay is a complicated wager in which you combine the results of two or more wagers. A round robin parlay is simply when you place identical wagers on two or more horses in a row. In general, you will want to bet that the favorite horse will win and the underdog will lose. If you think the favorite will lose, you can choose the opposite and win some money… or you can lose your money as well.
Why Should You Try a Round Robin Parlay?
The simplest way to put it is, you will want to try a round robin parlay if you like the look of multiple horse wagers in a single transaction. Some people like the look of multiple horses actively racing against each other, as it can create more anticipation and excitement. If you are new to betting or just want to try something different than what you normally do, a round robin parlay can help.
How Do You Place a Round Robin Parlay?
Simply put, the round robin parlay is a combination of two or more wagers. You could choose to bet that two horses will win, (the favorite and the second-favoriet horse), or you could bet that two horses will lose, (the second-favoriet horse and the underdog). You can also choose to bet that the favorite will lose and the second-favoriet will win, or you can bet that the second-favoriet will lose and the favorite will win. It is all up to you!
When Is the Best Time to Place a Round Robin Parlay?
The best time to place a round robin parlay is between 2:00 and 5:00 pm Eastern Standard Time. This is when sportsbooks open and close, respectively, which means that most people are likely to be placing bets at this time. If they are placing bets during the day, they will want to do so as quickly as possible before the books close and before the action dies down.
How Do You Calculate the Results of a Round Robin Parlay?
The results of a round robin parlay are simply the aggregate of the individual wagers. So, if you bet $100 on the favorite and the favorite won, your $100 would be returned along with the $100 you wagered on the underdog. In the above example, you would get back $200 in total, rather than the $300 you originally put in.
What Are the Risks of a Round Robin Parlay?
The most obvious risk when performing a round robin parlay is losing money. Remember, you are essentially placing identical bets in a row. So, if one of the horses you bet on loses, you will lose your money. As a general rule, you should avoid this kind of wager if you want to remain financially secure.
Another risk is betting on popular horses. If you look at the long-term trends in horse racing, you will notice that most thoroughbreds are not very successful at winning. Due to this, it is easy for a smart bettor to figure out which horses are undervalued and can be profitable bets. If you are not careful, you could lose a lot of money if a popular horse you bet on loses. For that reason, it is best to avoid betting on popular horses if you want to remain financially sound.
Can You Beat the Odds When You Place a Round Robin Parlay?
Since you are taking on the same amount of risk in a round robin parlay as you would in a single wager, it is only fair to ask the same question – can you beat the odds? The answer is yes, if the horses you bet on are all going in the same direction and you have done your homework correctly. Simply follow these three steps and you will be able to place a round robin parlay and profit:
- Make sure you are physically located in the United States (please note: offshore betting is illegal)
- Make sure that the sportsbook you are using is a legitimate and licensed operation (again, please make sure it is legal where you are)
- Find out the betting line for the race you are interested in (you can visit various websites to get these numbers)
Once you have accomplished those three things, you can feel secure knowing you have done your best to beat the odds. Just make sure you are physically located in the United States and that you are using a legitimate and licensed sportsbook. If you follow these three easy steps, you will be able to place a round robin parlay and profit fairly easily without risking too much money. It is a great way to try out new things while having a little bit of fun.