Progressive parlay
Encyclopedia
A progressive parlay is a joint wager
on multiple events, for example team sport
s or horse races
. Generally a progressive parlay involves a joint wager on four to twelve separate events. Should all the selected bets win, the bettor receives a relatively large payout, because of the sizable odds against this happening. However, unlike a regular parlay
, if some of the individual bets lose, but most win, the bettor still wins, although with a much smaller payout. Several sites use a schedule where the bettor can lose one bet on a 4-6 event progressive parlay, can lose up to two bets on a 7-9 event progressive parlay, and up to three bets on a 10-12 event progressive parlay.
The term has also been used for a long series of wagers on roulette
or other gambling games, where the bettor attempts to rely on a "stream of luck".
Wager
Wager can refer to:* Gambling* A scientific wager* A legal wager under the Roman legal system* WAGR syndrome - a rare genetic syndrome-Given name:*Wager Swayne , American military Governor-Surname:...
on multiple events, for example team sport
Team sport
A team sport includes any sport which involves players working together towards a shared objective. A team sport is an activity in which a group of individuals, on the same team, work together to accomplish an ultimate goal which is usually to win. This can be done in a number of ways such as...
s or horse races
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
. Generally a progressive parlay involves a joint wager on four to twelve separate events. Should all the selected bets win, the bettor receives a relatively large payout, because of the sizable odds against this happening. However, unlike a regular parlay
Parlay (gambling)
A parlay or accumulator is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately since the difficulty of hitting it is much...
, if some of the individual bets lose, but most win, the bettor still wins, although with a much smaller payout. Several sites use a schedule where the bettor can lose one bet on a 4-6 event progressive parlay, can lose up to two bets on a 7-9 event progressive parlay, and up to three bets on a 10-12 event progressive parlay.
The term has also been used for a long series of wagers on roulette
Roulette
Roulette is a casino game named after a French diminutive for little wheel. In the game, players may choose to place bets on either a single number or a range of numbers, the colors red or black, or whether the number is odd or even....
or other gambling games, where the bettor attempts to rely on a "stream of luck".