Share
DraftKings recently unveiled its latest innovation, Progressive Parlay, as part of its online sportsbook offerings. This introduction comes hot on the heels of the recent launch of the Pick6 daily fantasy sports game.
In a DraftKings news release shared with PlayUSA, Corey Gottlieb, chief product officer of the company, said one of their major objectives is to constantly devise new means for customers to have fun, and Progressive Parlay is evidence of this commitment.
“DraftKings is committed to constantly creating new ways for our customers to engage with the sports and athletes they love, and Progressive Parlay is a great example of that. This product provides the excitement of building a parlay but with the added opportunity of potentially winning even if every leg doesn’t hit. It’s the best of both worlds.”
What to expect from DraftKings’ Progressive Parlay
The Progressive Parlay, which is a bet builder feature, was first revealed in a recent 2023 Investor Day presentation. However, the company did not reveal the launch date until Thursday.
Part of its function is that it allows pay-outs with or without all legs achieved.
The feature also gives a bettor the leverage to pick “over” or “under” on anywhere from three to 12 bets, which will now create a parlay, according to a DraftKings news release. When this parlay is being built, the sports betting app will automatically inform bettors of the number of selections required to form a progressive parlay.
Bettors will be informed of the changing odds with each pick and the specific number of legs needed for a payout. The inclusion of more legs in the parlay translates to an expanded range of winning possibilities for customers.
DraftKings CEO Jason Robins said during the company’s annual Investor Day:
“We’re excited about our Progressive Parlay offering and its potential to generate a higher parlay mix and leg count, and thus a higher hold percentage, as well as being a great win with customers who will be able to win money on their parlays even if they don’t win every leg of their bet.”
Progressive Parlay soft launches in six states
Currently, this regulated sports betting feature will be accessible only to eligible customers in:
- Connecticut
- Iowa
- Illinois
- Oregon
- Tennessee
- Wyoming
DraftKings also promised to roll out in more states in the coming weeks. Also, for eligible customers to use the Progressive Parlay, they will need to download the latest version of the app.
At the moment, Tennessee is the only state that has both the Progressive Parlays at DraftKings Sportsbook and Pick6 on the DraftKings DFS site. Other states with the Pick6 game include:
- Oklahoma
- South Carolina
- Minnesota
- Maryland
- Wisconsin
