Understanding Progressive Parlays
If you are looking for high payouts, but with less risk than what a standard parlay wager can offer, you might want to consider progressive parlays. Bringing you the best of both worlds, they offer the same high payouts for combining wagers on a single ticket, but with a slightly lower risk. With these types of bets, you can actually afford to lose one or two of your selections, and you will still be able to win big.
Standard vs. Progressive Parlays
Parlay online sports betting is the ideal way to get more bang for your buck. The way it works is by combining multiple selections onto a single bet slip. With standard parlays you can start with just 2 selections or as many as 12. By combining your selections, the odds are multiplied by each other giving you super high odds with huge payouts. The downside is that every single one of your selections has to win for the ticket to be a winner. If you bet on 5 games and 4 win, you still lose your wager and the stake attached.
Progressive parlays are a bit different to the standard option and offer up less risk for online or mobile betting enthusiasts. This is because they still pay out even if you lose 1 or 2 of your selections. For example, if you bet on 7 teams and 2 of them lose, you will still get something out. For obvious reasons, progressives don’t offer the same super high odds that you will find with a standard option. You get something in the middle, which is where most people want to bet in terms of risk versus reward.
Betting Selections and Payout Differences
With progressive parlays, the more sports bets you add to a ticket, the more money you stand to win at the end of the day. For example, if you pick 4 selections, you can expect a payout of 5/1 if all your teams win. However, if you picked 8 selections, you can expect a massive payout of 75/1 if all your teams win. This is because the chance getting 8 selections correct is around 60 times less likely than getting 4 correct.
Progressive parlays offer a kind of insurance in case something goes wrong. There is nothing more frustrating than picking 6 selections and one of them loses, while the other 5 win. With progressives you can lose up to 3 selections depending on how many you have on your ticket. The minimum starting number is 4 selections, while standards can have just two. With 4 to 6 teams, you can afford to lose one selection. With 7 to 9 teams you can afford to lose 2 selections. Bets with 10 to 12 teams can have 3 losses and still pay out.
Risk Versus Payout
With online sports betting, the key is to pick progressive parlays where the risk to reward ratio works in your favour. For example, if you were to choose 5 teams and 1 of them loses, you will still be paid out 2/1 on your stake. On the other hand, if you tried to go big and chose 11 teams, you might only have 8 of them winning. In this case, you will be paid out 1/1 on your stake even though you accurately predicted the results of 8 games. This means you’ll need to determine what risk-reward ratio is more profitable, and run the numbers accordingly.
Your strategy should be based on how confident you are of the results. The more confidence you have, the more selections you can add to your ticket and the greater your online sports betting winning potential.