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Hi and welcome to another episode from the MaxBet Tips video series by RescueBet. I’m Ron, spokesperson of Rescuebet. In this video, we will look at the definition and description of progressive parlays. Firstly, we want to know what distinguishes progressive parlays from straight bets.
So what is a progressive parlay?
A progressive parlay bet is when you have to choose from basketball or football, and combine 4 or more spread/total selections. A parlay win is achieved even if one or more selections lose. The only time a parlay loses is when you lose more selections than are allowed. It differs from straight bets because the payout amounts are extremely lower.
Let’s look at the method:
Once you choose from sports like football or basketball, all you have to do is select 4-10 point spreads, totals or combinations. You can then consider the maximum number of losing selections that are allowed. Otherwise called “Close Call Parlays”, progressive parlays are commonly placed on football and basketball games in which case, maximum payout rules apply.
So what are the pros and cons, you asked?
Pros of Progressive Parlays
- You get paid even if 1 or more of your selections lose
- You enjoy higher winning payouts than separate straight bets
- You can bet small amounts to win larger payouts. This is ideal for people with limited betting bankrolls or extra cash that can be used for fun bets
- Under allowed loss limit, progressive parlays pay more than a standard parlay with any losing selections
Cons of Progressive Parlays
- If you have 5 selections with 1 loss, you will get lesser pay than 4 winnings and 1 losing straight bets
- Progressive parlays are riskier, with the variance being greater than in separate straight bets. In short, multiple losing selections ruin the entire bet.
- A winning standard parlay pays more than a progressive parlay of the same size that has no losses.
- Ties in progressive parlays are losses.
To win parlay bets, first ensure you keep progressive parlays to 7 selections or less. It is rare to find or win 8 or more selections. The risk is not justified by large parlay bets. Also, make sure you reserve progressive parlays for a limited betting bankroll or fun bet. Analyze against the spread trends by doing a comparison of the expected value of progressive parlay vs. separate straight bets vs. standard parlay.
To learn more about other sports betting types and betting strategies, please stay tuned for more videos in the same Maxbet tips web series. Thank you for watching!