A Chalk and a Pick ‘Em Game Explained
Bettors usually like the favorites, but are they assured of an outright win? But picking two teams with virtually equal odds of winning excites risk-taking punters with no guarantee of a payout. Check out how bettors spot chalks and deal with pick 'em games.
The lure of a potentially high payout usually attracts the minds of punters, especially if they want to place their money on multiple teams at the same time. The concept of a round-robin in sports betting may not be so different compared to the one used in sports tournaments. Yet, new bettors should fully understand its consequences before taking a plunge into such an opportunity.So how does round-robin betting work?
MULTIPLE BETS IN SPORTSBOOKS ENTICE BETTORS
If a round-robin in a sports tournament is defined as every team playing each other in its group, a round-robin in sports betting is compared to a series of smaller parlays created from an extensive list of bets.You may recall that a parlay centers around at least two or more bets or wagers linked together into one big bet. Every single bet that a parlay is composed of is called a leg. A bettor can have as many legs as he wants on his parlay. Sportsbooks now provide an option where punters can create a series of smaller parlays made up of their selected games.Round robin bets can be wagered in the same sport to three or more different sports. For example, a bettor likes three favorite lines composed of the Dallas Cowboys in the NFL, the New York Rangers in the MLB, and the Brooklyn Nets in the NBA.Bettors need all three of his teams selected to cover the spread if he needs to create one regular parlay. There is a sense of a security policy in round-robin betting, as punters can stay profitable even if one leg of the parlay fails. Bettors then create three different two-team parlays to get a payout instead of making a parlay where all three events need to be successful.
NO PARLAY ODDS CHANGE IN ROUND-ROBIN
There are some bettors who create parlays on one sport, meaning three teams in the NFL. A bettor identifies three NFL teams showing good numbers based on NFL odds, which are, for example:New York Jets +5 (-110)
Philadelphia Eagles -3.5 (-110)
Denver Broncos -1.5 (-110)Three two-team parlays will be offered to bettors under a round-robin bet instead of parlaying all three teams in one three-teamer. A payout on a two-team parlay on a USD100 bet would be +264, with standard odds for each game at -110. There are no changes in parlay odds when the round-robin bet is used. The odds on a two-team parlay are at +264, with each side listed at the standard online sportsbook odds of -110. Bettors must understand that each parlay will appear as an individual bet as they combine multiple teams in a round-robin parlay done on one ticket.
ROUND ROBIN FOR DEEP POCKETS, RISK-TAKERS
The potential for a higher payout also comes with the need for more money to spend and the higher risk of losing. That’s why new bettors must take it slow on multiple bets and study all details and consequences before taking on round robin bets. And having a deep pocket comes in handy, too.For punters with deep pockets who want to spend USD5 on a six-team round-robin bet using two-team and three-team parlays, get ready for 35 parlays for a total of USD175. The cost of four- and five-team parlays off a list of six teams will rise to USD280.Of course, bettors can start slow with just USD5 on each parlay – or start at USD1 or USD2. But there will be smaller payouts for such bets. Some bettors insert underdogs on the moneyline even if there’s no guarantee that one or all of them will win. But punters raise their chances of hitting a few of the parlays and getting some multipliers, thus diversifying their risks a little bit.
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