Sports bettors are often looking to reduce their risk, especially with parlays and other related bets. This is because parlays, pleasers, and even teasers require bettors to make numerous correct picks on the same ticket. Progressive bets are one way for sports bettors to reduce some of their risk.
Progressive Bets Explained
A progressive bet offers a consolation payout on parlays, pleasers, and teasers after a required number of wagers are won. With the protection offered by a progressive wager, you don’t have to get every pick right to get some cash back.
Payouts and conditions governing them vary, but usually on a progressive you need to get at least half of your bets right to be given a push. In some cases, two-thirds of your bets need to be correct.
If you do manage to get all of your picks right on a progressive wager, this will result in reduced payouts compared to a standard parlay. Odds and conditions on progressives vary a lot from sportsbook to sportsbook, and many online books don’t even offer these bets.
Positives and Negatives
As with the “if” bet and the reverse wager, progressive parlays, teasers, and pleasers provide sports bettors with some insurance. Reduced risk is always welcomed, and progressives make it possible for bettors to utilize limited funds to the fullest. However, payouts are greatly reduced, and the complex manner in which progressives work can be confusing.
Progressives are usually only available for football and basketball. These tend to be high volume betting markets, and many sports bettors play parlays. This is a way to further entice action, especially from sports bettors who may be reluctant to play parlays due to the risk involved, or who are struggling with the parlay and feel the need for some protection.
When to Utilize
Progressive parlays, pleasers, and teasers are useful when sports bettors feel the need to reduce risk. Because they offer a consolation payout on tickets that are partially correct, sports bettors stand a chance of breaking even on their bet. If you find yourself on a losing streak, are wary of the risks involved in multi-bet tickets, or don’t feel as strongly about a parlay as you would like to, then the progressive bet may be a good choice.
Do Your Homework
Because there’s a certain amount of protection afforded a progressive, sometimes sports bettors will skimp on their research and handicapping. This is never a good idea. After all, you still need to get some of your picks right. Also, whenever you put money down on any game, you should always do so with confidence and only after doing the necessary work. Handicap carefully and work towards making smart picks and getting every team correct when you make a progressive wager.