Can someone please tell me info on how profitable parlay round robins are?

parlays minimumize losses??? they eat your pocket book up faster.

Parlays involve considerably more juice than straight bets.  When you add hedges you are adding even more juice. 

Imagine deciding the US dollar is weak, so you drive all the way to the airport and then change a $1000 into Euros.  Five minutes later, you decide "wait a second the Euro might be weak as well".  You hedge and change the Euros back into Dollars.  The whole experience has gained you nothing other than paying a whole lot in commissions.

This is basically what you are doing when you hedge parlays (a Round Robin is just a complicated hedge).  You are basically paying the bookie twice (sometimes three or four times) the usual commission in order to cancel out your own bets.

Just make a straight bet on the teams you like.

If you want to minimize losses, make smaller bets.

Yeah, but over the long term, you won't win 1 in 3.  I mean you can set up round robins and parlays in a bunch of different ways.

Sometimes, you have a very large chance of winning a small amount of money and a small chance of losing a lot.

Sometimes you have a small chance of winning a lot and a large chance of losing a little. 

No matter what, you are paying more juice than if you just went at it straight.  Over time, that juice is going to kill you.

The key to success in this business is keeping overhead low and finding the right price.  You're unlikely to do that with complicated hedges and parlays.

Any sports book will take round robin parlays.  A round robin is just a combination of all the possible teams, into parlays, given a set of teams. 

They may not all set it up for you to enter easily on the computer, but you can enter all the parlays in a round robin easily by yourself.

These round robins tend to decrease your probability of winning but increase your win amount on those rare occasions when you do win.

You need to be able to do the basic calcuations of your payoff given different scenarios, such as you win 2 out of 3, 3 out of 4, 4 out of 5, etc.  Also what happens if you win 3 out of 5, 4 out of 6, etc.

This information should be available from your sports book.  Ask them.

Famous

Thanks for the info guys. I decided to not go that route. I am just trying make better wagers. Sometimes easier said than done but I am up the last few weeks.

Thanks again.