# Round robin

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Canonical: https://novigapi.com/learn/round-robin

A round robin is a set of smaller parlays built from every combination of a chosen group of picks, so you can still profit if not every pick wins.

```
number of parlays = C(n, k) = n! / (k! x (n - k)!) for n picks combined k at a time
```

A round robin takes a group of picks and bets every parlay of a chosen size that can be made from them. Four picks by twos makes six two-leg parlays. Instead of one four-leg parlay that dies on a single loss, you have six smaller tickets, and you can still win money with one or even two losing picks. The trade-off is cost: you stake every combination, so the total outlay is the per-parlay stake times the number of combinations.

## How it works

Choose n picks and a parlay size k. The number of parlays is the binomial coefficient C(n, k). Each parlay pays the product of its legs' decimal odds times the stake. When some picks lose, every parlay containing a loser loses, and the parlays made only of winners pay. The number of winning parlays when w picks hit is C(w, k).

## Worked example

Four picks, each at -110 (decimal 1.90909), as a round robin by twos at $10 a parlay. C(4, 2) = 6 parlays, $60 total. Each two-leg parlay pays $10 x 1.90909 x 1.90909 = $36.45.

Round robin of 4 picks by 2s, $10 each

| Picks that win | Winning parlays | Total return | Net |
| --- | --- | --- | --- |
| 4 of 4 | 6 | $218.68 | +$158.68 |
| 3 of 4 | 3 | $109.34 | +$49.34 |
| 2 of 4 | 1 | $36.45 | -$23.55 |
| 1 or 0 of 4 | 0 | $0.00 | -$60.00 |


A single $60 four-leg parlay at the same prices would pay $60 x 13.2833 = $797.00 if all four win, but nothing if one loses. The round robin gives up most of that ceiling to keep winning with three of four. The [round robin calculator](https://novigapi.com/round-robin-calculator) handles any number of picks and sizes.

## On Novig

Novig prices parlays through request for quote: makers quote a price for the exact combination, and the best quote wins. A round robin on Novig is therefore a set of separate parlay RFQs, one per combination, each with its own quoted price. Per Novig's fees page (checked 12 Nov 2026), RFQ fills pay a taker fee of 0.10 x w x k / (w + k), where w is your stake and k the maker's collateral, charged on execution. On a $10 parlay priced at 27.5%, w = $10 and k = $26.36, so the fee is about $0.73, which adds up across six or ten tickets. Check each quote against the fair product of the legs.

## Common mistakes

- Thinking a round robin reduces the vig. Each parlay still compounds the margin of every leg it contains.
- Underestimating the stake. Five picks by twos is ten parlays; by threes, another ten.
- Combining correlated picks. Books often restrict them, and they break the independent-legs arithmetic.

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