A Round Robin bet is a type of parlay or accumulator bet that involves multiple selections (usually three or more) across different events. Instead of making a single parlay bet, a Round Robin creates multiple smaller parlays. The number of parlays in a Round Robin is determined by the number of selections you make. For example, a three-team Round Robin would consist of one three-team parlay and three two-team parlays.

Here’s how the payout for a Round Robin bet works:

1. **Calculate the odds for each individual bet**: Each selection in your Round Robin has its own odds, which could be expressed in different formats depending on the sportsbook (decimal, fractional, or American odds).

2. **Determine the number of parlays**: For a selection of ‘n’ events, the number of parlays is determined by the formula for combinations: n! / (r!(n-r)!), where ‘r’ is the number of events in each parlay. For example, a three-team Round Robin would have 3! / (2!(3-2)!) = 3 two-team parlays and 1 three-team parlay.

3. **Calculate the individual parlay odds**: For each parlay, multiply the odds of the individual selections together to get the parlay odds.

4. **Stake distribution**: Your total stake is divided among the different parlays. If you bet $100 on a three-team Round Robin, $20 would go to each of the three two-team parlays and $40 to the three-team parlay (assuming equal distribution).

5. **Payout calculation**: If all selections win, you calculate the payout for each parlay by multiplying the stake by the parlay odds and then sum up the payouts from all winning parlays.

For example, let’s say you place a $100 Round Robin bet with three selections (A, B, and C) with decimal odds of 2.0, 2.5, and 3.0 respectively.

– You would have one three-team parlay (ABC) and three two-team parlays (AB, AC, BC).

– The odds for the three-team parlay would be 2.0 * 2.5 * 3.0 = 15.0.

– The odds for the two-team parlays would be 2.0 * 2.5 = 5.0 for AB and AC, and 2.5 * 3.0 = 7.5 for BC.

– Assuming equal distribution, you would bet $40 on the three-team parlay and $20 on each of the two-team parlays.

– If all selections win, the payouts would be:

– For the three-team parlay: $40 * 15.0 = $600.

– For each two-team parlay: $20 * 5.0 = $100 for AB and AC, and $20 * 7.5 = $150 for BC.

– Total payout: $600 + $100 + $100 + $150 = $950.

Remember that if any selection loses, the corresponding parlays that include that selection will also lose, but you may still win some parlays if other selections are successful. It’s important to note that the actual payout may also include the return of your original stake, depending on how the sportsbook calculates the payout.