Gamblers have many different opportunities to win sizable payouts if they predict games accurately. Some prefer to bet on single games, while others like the idea of parlays.
For someone who might want a little bit of wiggle room with their parlay, there is an option to try progressive parlays. Having an opportunity to lose 1-3 times in many instances while still winning money can be enticing.
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What is a PRP Bet?
PRP bets are progressive parlays in the sports gambling world. They are very similar to normal parlays except they come with a small margin of error. Most progressive parlays are anywhere from 4 to 12 teams. They almost always rely on pointspreads instead of money lines so that either pick is an even odds play.
What is the Margin of Error for PRP Bets?
Depending on the number of teams a gambler place as a wager on, they have the opportunity to lose 1 to 3 times.
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With 4 to 6 teams in a progressive parlay, it allows a person to lose once. Having 7 to 9 teams allows for two losses. Progressive parlays with 10 to 12 teams allow for three losses. Keep in mind that a tie counts as a loss in a progressive parlay.
What is the Payout for a Progressive Parlay?
If a person wins every single contest in a progressive parlay, it pays out very well. For example, a 4-team progressive parlay bet pays out +500 when a gambler is perfect. Get all of them correct in a 12-team parlay, and it pays out +90,000.
The numbers start to dwindle quickly when one of the teams ends up being a loss. With one loss, payouts range from +100 for four teams to +8000 for 12 teams. With two losses, a 7-team parlay pays out -150 while a 12-team parlay pays out +1000. Finally, three losses in a 10- and 11-team parlay pay out +100, while a 12-team parlay with three losses pays out +300.
Are Progressive Parlays Worth It?
Think of a progressive parlay as a slightly safer version of an all-or-nothing regular bet parlay. People might not be able to hit the jackpot and win quite as much all the time, but it’s better than going home empty-handed.
Not all sportsbooks offer progressive parlays, but they can be an option for those who want a slightly more unique option. Just make sure to keep in mind how many losses are allowed depending on the number of teams. Missing out just by one loss can be infuriating.