Definition
A bet that automatically splits a set of picks into every smaller parlay of a chosen size. A 4-team "round robin by 2s" places all six 2-team parlays, so you can still cash on partial hits instead of needing all four legs to win.
Related terms
- Parlay — A single bet combining multiple selections that all must win. Bigger payouts, but the vig compounds on every leg.
- Correlation — When two bets' outcomes are linked, not independent (e.g. a team ML + its team-total over). Breaks the parlay's independence assumption, so the combined odds/EV are off.