DraftKings Debuts Progressive Parlay
DraftKings, the well-known online sportsbook, has introduced a fresh addition to its offerings known as Progressive Parlay. This regulated sports wager allows a parlay bet to potentially win, even if not every leg of the parlay is successful. Initially available for eligible customers in CT, IA, IL, OR, TN, and WY starting from December 14, with plans for additional state rollouts in the future.
In this blog post, we will take a closer look at the new Progressive Parlay feature and how it works. We will also discuss some of the benefits and drawbacks of this new type of sports wager.
What is Progressive Parlay?
Creating a Progressive Parlay involves customers selecting “over” or “under” on a range of three to 12 bets. The “Bet Builder” continually updates customers on the remaining picks needed to form a Progressive Parlay, the evolving odds with each pick, and the number of legs required to secure a payout. The greater the number of picks, the increased opportunities to win, and the potential payout grows accordingly.
How to Use Progressive Parlay?
To access Progressive Parlay, customers will need to download the latest version of the DraftKings Sportsbook app. Once you have downloaded the app, you can start building your Progressive Parlay by selecting “over” or “under” on anywhere from three to 12 bets. The Bet Builder will dynamically inform you of how many more picks are still needed to create a Progressive Parlay, how odds change with each pick, and how many legs of the parlay must be hit for the bet to pay out. The more picks made, the more ways there are to win and the bigger the potential payout.
Benefits and Drawbacks of Progressive Parlay
One of the main benefits of Progressive Parlay is that it offers a new way to win big on sports wagers. Even if every leg of the parlay does not hit, there is still a chance to win. This can be especially appealing to sports bettors who are looking for a new challenge or a new way to engage with their favourite sports.
However, there are also some drawbacks to Progressive Parlay. One of the main drawbacks is that it can be more difficult to win than a traditional parlay bet. Since more legs are required to hit, the odds of winning are lower. Additionally, the potential payout may be lower than a traditional parlay bet since the payout is based on the number of legs that hit.
Overall, Progressive Parlay is an exciting new feature that offers a new way to win big on sports wagers. While there are some drawbacks to this new type of sports wager, it can be a great way to engage with your favourite sports and win big. If you’re interested in trying out Progressive Parlay, be sure to download the latest version of the DraftKings Sportsbook app and start building your parlay today!