What is Progressive Parlay Bet and How Does It Work?
Sports betting is full of exciting ways to wager, but if you’re looking for a bet that offers a unique mix of risk and reward, the progressive parlay might be for you. Unlike a regular parlay, a progressive parlay offers payouts even if not all of your picks win. This bet type provides more flexibility, making it appealing to bettors who want a chance at a payout even when things don’t go perfectly.
What Is a Progressive Parlay?
A progressive parlay is a type of parlay bet where you select multiple outcomes, usually between 4 to 12 picks, across various games or matches. Unlike a traditional parlay, where all your picks must win to receive a payout, a progressive parlay still pays out even if one or two of your selections lose. The more correct picks you make, the higher your payout.
Progressive parlays offer bigger potential payouts than single-game bets, though not as high as traditional parlays due to the reduced risk. Progressive parlays can be placed on multiple sports, making it a versatile option for bettors.
How to Place a Progressive Parlay Bet
Here’s a step-by-step guide to placing a progressive parlay bet:
- Visit the DraftKings Sportsbook kiosks at Boot Hill Casino & Resort into Your Sportsbook Account.
- Select Your Sports: Browse through the list of available sports events and choose your selections. Aim for anywhere between 4 to 12 picks.
- Choose the Progressive Parlay Option: After selecting your games, look for the “Progressive Parlay” option on your bet slip.
- Confirm Your Bet: Enter your wager amount and review your selections before confirming your bet.
- Wait for the Results: Track the games to see if your picks are successful. Remember, even if one or two of your picks lose, you may still get a payout.
How Does a Progressive Parlay Bet Work?
A progressive parlay bet allows for more leniency compared to traditional parlays. Here’s how it works:
- Payouts are tiered based on the number of correct picks.
- For example, if you make an 8-pick progressive parlay and 7 of your picks are correct, you’ll still receive a partial payout.
- The payouts are lower than traditional parlays because of the reduced risk, but the potential to win even with a loss makes progressive parlays appealing.
Sample Payout Structure (for an 8-pick parlay):
| Correct Picks | Payout Multiplier |
| 8 out of 8 | 75x your bet |
| 7 out of 8 | 10x your bet |
| 6 out of 8 | 2x your bet |
| 5 or fewer | No payout |
Examples
Example 1: You place a 6-pick progressive parlay with a $10 wager on NFL games. If all 6 picks win, you might win 15 times your bet ($150). If only 5 picks win, you might receive a smaller payout of 2 times your bet ($20).
Example 2: You place a 9-pick progressive parlay on a combination of NBA and MLB games with a $20 bet. If 8 out of your 9 picks win, you could still earn a payout of 5 times your bet ($100), even though one selection lost.
Progressive parlays are a great way to balance risk and reward, giving bettors a chance to win even when not all their predictions go as planned.
Progressive Parlay vs. Regular Parlay
Both progressive parlays and regular parlays offer the thrill of combining multiple bets into a single wager for a chance at larger payouts. However, they differ significantly in terms of risk and reward:
Regular Parlay:
- All-or-Nothing: To win a regular parlay, every selection in your bet must be correct. If even one pick loses, the entire parlay bet is lost.
- Higher Payouts: Because of the all-or-nothing nature, regular parlays offer higher potential payouts compared to progressive parlays.
- Greater Risk: With higher payouts comes higher risk. One mistake, and your entire bet is void.
Progressive Parlay:
- Flexible Wins: Progressive parlays are more forgiving, allowing for one or even two losing picks (depending on the total number of selections) while still paying out a reduced amount.
- Lower Payouts: The payouts are lower than regular parlays due to the reduced risk, but there’s still potential for significant winnings if most of your picks are correct.
- Better for Casual Bettors: Progressive parlays are ideal for those who want the excitement of parlay betting but prefer a buffer against losses.
Impact of Pushes and Non-Plays
In sports betting, it’s common to encounter situations where one of your selections results in a push (a tie) or a non-play (a canceled game). Here’s how these scenarios impact a progressive parlay:
Pushes:
- A push occurs when a game ends in a draw or hits the exact spread, resulting in neither a win nor a loss.
- In a progressive parlay, if one of your selections ends in a push, it is simply removed from the parlay, and the payout is recalculated based on the remaining selections.
- For example, if you have an 8-pick progressive parlay and one game pushes, it’s treated as a 7-pick parlay instead.
Non-Plays (Canceled Games):
- If a game is canceled or postponed, it is usually treated similarly to a push.
- The selection is voided, and the parlay is recalculated with one fewer game, which may reduce the payout odds but does not invalidate the entire bet.
Always check the specific rules of the sportsbook you are using, as some may handle pushes and non-plays differently, especially if you are playing a no-commission or special variant of progressive parlays.
Requirements for Placing a Progressive Parlay
Before placing a progressive parlay bet, it’s important to understand the general requirements:
Typically, a progressive parlay requires a minimum of 4 selections and can go up to 12 selections, depending on the sportsbook. The more picks you include, the higher the potential payout, but also the greater the risk.
Progressive parlays are usually available for major sports like NFL, NBA, MLB, and NHL. However, not all sportsbooks allow them for niche sports or in-play (live) betting. Most progressive parlays are placed on point spreads, totals (over/under), or moneyline bets.
Some sportsbooks may have limits on the maximum payout for progressive parlays, so be sure to review the sportsbook’s terms. Additionally, the minimum bet amount may vary but is often set around $5 to $10.
Due to their structure, progressive parlays can be a good option for casual bettors who want to maximize their entertainment value without taking on the high risk associated with regular parlays. Be mindful of the increased variance and adjust your bet size accordingly to manage your bankroll.
What Sports Can I Play a Progressive Parlay On?
Progressive parlays are versatile bets that can be placed on a wide range of sports, making them a popular choice for fans looking to add excitement to their favorite games. Most sportsbooks, including DraftKings at Boot Hill Casino, allow progressive parlays on:
- Football (NFL & NCAA): Bet on point spreads, totals, or moneylines for NFL and college football games.
- Basketball (NBA & NCAA): Place wagers on basketball games, with options for spreads, over/unders, and moneylines.
- Baseball (MLB): Progressive parlays are great for betting on baseball moneylines, totals, and run lines.
- Hockey (NHL): Enjoy betting on the NHL with options for totals, spreads, and moneylines.
- Soccer: Bet on major leagues like the Premier League, La Liga, and MLS, focusing on match outcomes and goal totals.
- Mixed Martial Arts (MMA): Wager on fight outcomes across popular events like the UFC.
- Other Sports: Depending on the sportsbook, you may also find progressive parlay options for tennis, golf, and more.
Always check with your sportsbook for the specific sports and bet types eligible for progressive parlays, as availability can vary.
When Should You Place Progressive Parlay Bets?
While progressive parlays offer an enticing way to enjoy sports betting, there are certain situations where they particularly shine:
- Moderate Risk, High Reward: If you’re looking for a way to stretch your bankroll while still having a shot at decent payouts, progressive parlays offer a great balance. Unlike regular parlays, they provide some insurance if one or two picks don’t hit.
- Betting on Favorites: If you’re betting on several favorites with relatively low odds, combining them into a progressive parlay can enhance your potential payout. Even if one favorite underperforms, you can still win a reduced payout.
- Diversifying Your Bet Slip: Progressive parlays are excellent for diversifying your betting strategy. Instead of risking it all on a single game, you can spread your bets across multiple matches and sports, increasing your chances of getting a return.
- When Uncertainty Is High: In situations where match outcomes are difficult to predict, a progressive parlay provides a cushion. If you’re unsure about one or two picks but confident in the others, this bet type allows you to still come away with a payout.
Play the DraftKings Sportsbook at Boot Hill Casino
If you’re excited to dive into the world of progressive parlay betting, look no further than the DraftKings Sportsbook at Boot Hill Casino. With competitive odds and the ability to place progressive parlays on your favorite sports, it’s the ultimate destination for sports enthusiasts. Whether you’re betting on NFL Sundays, NBA playoff games, or a thrilling UFC match, DraftKings at Boot Hill Casino offers the perfect environment to test your strategies and enjoy the thrill of sports betting. Visit Boot Hill Casino today to start placing your progressive parlays and experience the excitement of betting done right!