What is a Round Robin bet on Bovada? – Everything you Need to Know in 2020

What is a Round Robin bet on Bovada

What you need to know about placing a Round Robin bet with Bovada

NFL sportsbooks and sports betting are widely popular these days, and there is a reason for that. They are easy to use, fun, and entertaining, and you can make a quick buck if you are lucky.

One of the more popular and successful sports betting sites is Bovada.

They offer great payouts and bonuses, and it is one of the simpler ones to use and understand.

Most people know how to place a bet, maybe even conduct a parlay. A majority of people probably look at the tabs marked “Teaser” and “Round Robin” and don’t think anything of them.

The reality is that a Round Robin bet can get you a large payout with ease if you know what you are doing.

Here are some tips and knowledge about Round Robin bets.

What is a Round Robin sports bet?

A Round Robin bet is a simple way to conduct several parlays at once.

To start, you need to choose at least three different lines.

Lines are basically just a bet; money-line, point-spread, over/under, etc. You can have between 3 and 8 lines if you are working off of Bovada.

From there, you separate the lines into parlays of 2 to 7 lines each.

You also need at least 3 parlays to do a round=robin bet.

It seems difficult and borderline frustrating at this point, but here is a quick example to get you up to speed:

Round Robin bets Example

Here are three lines (bets) you select to your bet slip-

Houston Texans -3

Dallas Cowboys +10

Chicago Bulls -4.5

With Bovada and most other sites, once you add these to your bet slip under the “Round Robin” tab, the site will do the rest for you.

These are the parlays within your Round Robin bet and for this example, we will bet $3 –

1.Houston Texans -3

Dallas Cowboys +10

$ 3 risk to win $9 (these are just nonsense odds for the sake of the example)

2. Houston Texans -3

Chicago Bulls -4.5

$3 risk to win $9

3.Dallas Cowboys +10

Chicago Bulls -4.5

$3 risk to win $9

Your $3 bet, or risk, will automatically be added to all the parlays and the site will calculate your payouts.

The rest of the process can get confusing at times.

For a parlay to hit, or be worth a payout, everything within the parlay must happen.

If the Texans win, but the Bulls lose, then Parlay #2 is void, and you lose that one.

How does a Round Robin bet Payout?

You know how to conduct and create a Round Robin bet. This is how your payouts work. As mentioned, a parlay is void if any of the lines within it lose. If all 3 parlays hit and pan out, you win the maximum amount of money.

For our example:

All 3 hit- $36 in winnings- $27 is from your winnings and $9 is your risk bets you get back.

Risks (or stakes) are different than a regular bet, as you can earn them back if you win.

Like I said, you win the maximum money with Round Robin.

If only 2 parlays win and one is void- $21 in total winnings- $18 is from your winnings and $3 is from getting back one risk.

You only get all three risk bets back in all three parlays hit.

If only one parlay hits- $0 winnings and zero risk bets returned. If you only win one, you lose everything.

How to Make A Round Robin bet with Bovada

Here are the steps to take to pick your lines and create your Round Robin bet with Bovada specifically.

  • Once you login in, go to the tab marked “All Sports”.
  • From there, select whatever lines you want to add to your bet slip.

With Bovada, you can pick up to 8, but at least 3.

As a side note, you can only pick one line per sporting event.

  • Once your bet slip is assembled, select the “+” tab next to the round-robin tab.
  • Select your number of ways or parlays.

With Bovada, the site will automatically sort them out into the parlay format.

  • You then add your risk bet into the corresponding box.

Don’t worry, Bovada makes it easy to know where to add your funds. Bovada also auto-calculates each risk bet for each parlay and the payouts.

  • The final step is just to confirm the bet.
Bet at Bovada HereBet at Bovada Here

Are Round Robin bets Smart?

We’ve talked about how to create one and how they work, but a question still lingers: is it worth it in the end?.

Is all this work worth the potential payout?.

Yes, with Bovada, a Round Robin bet is a safe play.

However. It is no surprise that a Round Robin is, in fact, more complex than a regular straight bet.

Even if you understood the steps to make one, it would still be smart to take it slow at first.

The best way to fully grasp the concept of round-robins is to practice with them.

Of course, start with making small bets of $1 until you get the hang of it. After all, there is a reason that the more skilled and experienced bettors tend to use strictly round-robin bets.

You have more chances to win and with much larger payouts and there are smaller risks.

Unless you are using a risk-free bonus on Bovada, there is no other way to get your bet back once a bet is placed unless it is with a round-robin.

Again, a Round Robin bet is a smart play if you are smart about it and know what you are doing.

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