Progressive Parlays are Coming to DraftKings in Michigan
Soon, DraftKings will launch a brand-new product that sports bettors in Michigan might find rather appealing. Bettors may place bets on the DraftKings progressive parlay and still win even if they lose on any one of the wager’s legs.
During its latest investor call, DraftKings released a video promoting its new progressive parlay product. The business has submitted a copyright application for the phrase “progressive parlay,” but it has not said when the feature would be introduced to the sports betting market in Michigan. There is also plenty of exciting news for the fans of DraftKings Casino Online in Michigan and other services of the company.
The player in a conventional parlay wager has to win each of the wagers (or legs) in the parlay. They forfeit the wager if they lose even one leg. However, a progressive parlay offered by DraftKings Sportsbook Michigan will function in a different manner.
What is a Progressive Parlay?
According to DraftKings, a progressive parlay is a multi-wager bet on one game or many concurrent athletic events. The parlay must consist of three to twelve bets, or legs.
Legs might include props like touchdowns, goals scored, strikeouts, etc., as well as team-level bets like total points. The specific bets are determined by the games and player props that are acceptable for the sports events you have chosen.
A player must match a certain number of the parlay’s legs in order to win a progressive parlay. The number is determined by the size of the parlay. For instance, a six-leg parlay would pay out even if a player was victorious on only five of the legs in the DraftKings product demonstration video. A 10-leg parlay may pay off if you hit eight legs, and so on.
As more legs are removed from the parlay, the odds go down. A five-leg parlay, for instance, may have odds of +1800, but if the bettors win just four of the legs, the odds are recalculated to something less, like +950. These odds will vary based on the kind of wager and the losing leg.