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What is a Round Robin Bet? Home Run Betting StrategyMay 22, 2023, 10:16PM
One of our favorite things to do during baseball season is to bet on home run props. At the top of the most exciting plays in baseball, let alone all of sports, home runs are a way to enjoy the iconic view of a home run ball leaving the yard. Nothing makes the crack of the bat sweeter than it also depositing money into your bankroll.
There are several ways to bet on home runs in baseball. The most popular methods include single home run bets, HR parlays and multi-HR props. You can also bet Under home runs, for obscene minus-money odds and more specific markets like first and last to hit a home run. FanDuel even has an exclusive home run-centric promo called “Dinger Tuesday” in which users can earn bonus bets for every home run hit in a particular game.
We’re looking how to use the Round Robin betting method when it comes to wagering on home run props. If you’re unfamiliar, we’ll explain how Round Robin bets work, how to apply them to home run betting and various strategies to use.
What is Round Robin betting?
Round Robin betting is a type of wager that starts with a traditional parlay but then breaks your wager down into varying combinations of individual legs. Where a traditional parlay requires at minimum two legs, a Round Robin requires at least three.
We like to use home runs for Round Robins because the data given to us by DimersBOT offers insights that we can take advantage of. We get probabilities for each home run prop, so we can see the most likely home run hitters on any given day, as well as the best odds available so we know which book to build our parlays on. We also get the +EV in the odds, displayed by DimersBOT’s “edge” so we know which props are better priced than they should be. We post our Top Five Most likely HR Hitters every day on Twitter and Instagram.
How do Round Robins work?
Where a standard parlay requires all legs of the bet to hit in order to win, a Round Robin separates your original parlay into a series of smaller parlays, ranging from combinations of 2 all the way up to the maximum possible, which is one number less than the total legs (max combinations of 4 on a five-leg parlay). The combinations are often displayed in this format: number of legs x number of combinations. For example, in a five-leg parlay, your options would be 2s x10, 3s x10, and 4s x5.
Let’s use a standard five-leg parlay for an example:
- Player A
- Player B
- Player C
- Player D
- Player E
The combination of 2s would yield you these ten two-leg parlays:
Round Robin 2s x10:
- Players A+B
- Players A+C
- Players A+D
- Players A+E
- Players B+C
- Players B+D
- Players B+E
- Players C+D
- Players C+E
- Players D+E
Let’s say Player A hits a home run in his game, but Player B fails to do so. Instead of holding a losing parlay ticket with three legs yet to play, you still hold six possible winners, only having lost your four combinations with Player B.
How to bet on Round Robins
After selecting the legs for your base parlay, you would choose the Round Robin option in your betslip. You would pick the combinations you want, ranging from each one possible or just the 2s, just the 3s and 4s, etc. We’ll use DraftKings and DimersBOT’s most-likely home run hitters to create one for the May 22, 2023 MLB slate.
- The five-leg HR parlay for May 22, 2023
With this five-leg home run parlay, you can see that we have our options of 2x, 3x and 4x as well as the standard 5-leg parlay. You select your specified unit size for each combo, and in this example, we’ve staggered our wager size based on the risk of the bet. The reason we’ve done this is because we’re placing a total of 26 bets, meaning we need to keep our unit size small (more on that below). Our total wager (34.50) breaks down like this:
- $2 on 5-leg parlay
- $2 on 2s x10 = $20
- $1 on 3s x10 = $10
- $.50 on 4s x5 = $2.50
In DraftKings, you can see the individual parlays and the payout for each, which will update as legs hit or miss. You can easily track which parlays are still live, as well as how much you stand to make for each home run hit.
Should you bet on Round Robins?
Like all sports betting, the risk increases the more legs you add to a parlay. Straight bets are generally safest, while parlays create more variance. Round Robins by nature are risky, because you’re not only betting parlays, but multiple at once, and as you can see in the example above, even small bets can add up quickly.
Round Robins are ideal for home run betting because if you’re already planning to bet on home run parlays, you can slim down the amount you’re risking, as well as open up your potential winning options to hitting just two or three legs. A well-balanced 5-leg Round Robin can break even or turn a small profit with just two legs hitting.
You should never bet on Round Robins with your traditional unit size; they should be a fun side bet with the hope that a few winners will supplement your bankroll. It’s critical to bet within your means, especially with Round Robins plays that stack on top of each other.
MORE: 7 Rules to Live By When Betting on Sports
Check out all of our best daily MLB props here, and if you're interested in parlaying these, or any other picks, then check out our new parlay picker tool that allows users to generate their own parlays at the click of a button, and with the preferences that matter most to them.
Please remember to enjoy gambling responsibly. Set limits on time and money spent, and never chase losses. Understand the risks and make informed decisions. Know when to take breaks and seek support if needed. Remember, responsible gambling is about having fun while maintaining control.