What are DraftKings Progressive Parlays & How Do They Work?

DraftKings Sportsbook latest parlay innovation, Progressive Parlays shake up the way parlay betting works by allowing you to win your parlay even if a few of your legs lose.

While traditionally parlays have always required you to win every single leg in order for them to pay out, DraftKings Progressive Parlays are much more forgiving, leaving some room for error.

The perfect bet type for parlay bettors that always find themselves 1 or 2 legs away from a massive parlay win, Progressive Parlays allow you to group between 3 to 12 player prop bets under a single parlay.

Just as with regular parlays, the more legs it has, the higher the payout it will return. However, with DK Progressive Parlays there is an additional perk: The more legs you add, the more picks you can lose and yet still win your parlay, making it a great option for bettors that love to place huge parlays in hopes for a massive payoff.

DraftKings Progressive Parlays introduce an exciting twist to traditional parlay betting, offering bettors a chance to win even if not all their picks are correct. Here's how they work:

1. Selection of Games: First, you choose the over/under on a set of player props to include in your parlay.
2. Placing Your Bets: After selecting your picks, you will place your bet on the outcomes you predict. The more selections you make, the higher the potential payout.
3. Winning Criteria: Unlike traditional parlays, here you don't need all your picks to be correct to win. For instance, if you make a 4-game progressive parlay, you might still win a portion of the payout even if one pick is wrong.
4. Scaled Payouts: Payouts in progressive parlays are scaled. This means the payout decreases with each incorrect pick, but you're not entirely out of the game as you would be with a traditional parlay. The exact payout structure depends on the number of games you've chosen and the terms of the parlay.
5. Thrilling and Forgiving: Progressive parlays keep the excitement alive until the very end. They offer a forgiving structure, allowing bettors to still reap rewards even if their predictions aren’t perfect.

Remember, while progressive parlays offer a safety net, they also require strategic thinking and a keen understanding of the games you're betting on.

Currently, DraftKings Sportsbook is only accepting Progressive Parlays for two sports: Football (NFL only) and Basketball (NBA only).

Progressive Parlays can only be used for Player Props, and are available for the following markets:

The amount of picks in your Progressive Parlay that can end in a loss while still securing a payout depends directly on the overall count of legs in the parlay.

It's important to note that, in a Progressive Parlay, a selection that concludes as a push is treated as a loss.

If a player involved in one of the selections does not take part in the event, that particular leg of the parlay is deemed void and is removed from the Progressive Parlay. Consequently, the Progressive Parlay is adjusted and recalculated based on the remaining valid selections.

On Progressive Parlays, both the amount of the payout and the quantity of picks that can lose will increase with the amount of legs in the parlay.

Below you can see how Progressive Parlay odds are affected with every leg you add, as well as how each loss will affect your payout.

Pros:

• Parlay Protection: Progressive Parlays act as a form of insurance for your bets. Even if one or more selections lose, you still have a chance to earn a payout, which is not the case with traditional parlays. This "insurance" aspect makes them a safer option for those who want to protect their investment in a parlay.
• Potential for Higher Returns: Just like other types of parlays, combining multiple bets into a Progressive Parlay will result in higher payouts- especially with more selections. This appeals to bettors looking to turn small wagers into significant winnings.
• Strategic Betting: Knowing you have the possibility to miss a few legs on your parlay and still cash in gives you the chance to make a few riskier choices than you normally would, knowing you have some protection if they don't come through.

Cons:

• Availability: Progressive Parlays are only available for limited Player Props on NFL and NBA.
• Restrictions on Selections: Limits on the number of selections from a single game and restrictions on player selections can constrain your betting strategies and choices.
• Lower Odds Compared to Regular Parlays: Progressive Parlays offer significantly lower odds compared to traditional parlays. Their added flexibility and reduced risk are counterbalanced by less favorable odds, meaning the potential maximum payout is lower than that of a regular parlay, even if all picks hit.

Mastering DraftKings Progressive Parlays means balancing risk and reward with strategic insight. Here are some key strategies to consider:

1. Smart Selections: Choose games where you have a strong understanding and insight. It's not just about picking winners but also about knowing which games offer the most strategic value for your parlay.
2. Understanding Tolerance for Losses: Recognize the flexibility your parlay allows for losses. If you can afford a loss within your parlay, you might take a calculated risk on a game with higher odds.
3. Bankroll Management: Allocate your funds wisely. Progressive Parlays can offer significant returns, but they require careful financial planning to ensure you're not overexposing your bankroll on a single bet.
4. Stay Informed: Keep up with the latest news, injuries, and other factors that could impact the games in your parlay. The more informed you are, the better your chances of making savvy selections.
5. Review Terms and Payout Structures: Familiarize yourself with the specific rules, terms, and payout structures of DraftKings Progressive Parlays. Understanding these can help you tailor your strategy for maximum benefit.

DraftKings Progressive Parlays are available anywhere that DraftKings Sportsbook is licensed to operate.

As of the time of writing, DraftKings Sportsbook offers Progressive Parlays in 24 states: