- In a parlay, you place just one stake.
If your first selection wins, that stake and your winnings are used to back the second selection, and so on. If any of the selections you’ve backed loses, the multiple bet as a whole lose.
- In a Round Robin, you place a separate stake on each selection.
Round Robin is an easy way to create multiple parlays at once. The more selections you choose, the more parlay combinations are created. The advantage to this type of wager is you can make your money back by hitting only one winning combination. For example, let's look at an NFL round robin bet:
Let's say you choose:
Atlanta Falcons -5
Denver Broncos +3
Pittsburgh Steelers -7
Instead of making a three-team parlay, you can place a round robin and create all possible two-team parlays from the selections above.
First Parlay:
Atlanta Falcons -5
Denver Broncos +3
$10 to win 26 (+260 odds)
Second Parlay:
Atlanta Falcons -5
Pittsburgh Steelers -7
$10 to win 26 (+260 odds)
Third Parlay
Denver Broncos +3
Pittsburgh Steelers -7
$10 to win 26 (+260 odds)
The risk amount would be on each parlay individually.