DraftKings has announced the launch of Progressive Parlay, the latest feature within the company’s leading online sportsbook that was first revealed during the 2023 Investor Day presentation.

Progressive Parlay is a regulated sports wager where a parlay bet has a chance to win even if every leg of the parlay does not hit. This feature will become available for eligible customers in CT, IA, IL, OR, TN, and WY beginning on December 14, with additional state rollouts expected.

To access Progressive Parlay, customers will need to download the latest version of the DraftKings Sportsbook app.

“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,” said Corey Gottlieb, DraftKings’ Chief Product Officer. “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.”

To build a Progressive Parlay, customers pick “over” or “under” on anywhere from three to 12 bets. As selections are made, the “Bet Builder” dynamically informs the customer of how many more picks are still needed to create a Progressive Parlay, how odds change with each pick and how many legs of the parlay must hit for the bet to pay out. The more picks made, the more ways there are to win and the bigger the potential payout.

The sports betting vertical is not the only area of recent innovation for DraftKings, as the company also launched Pick6, a peer-to-peer fantasy sports variant based around a simple “more or less” mechanic for individual player statistics. Pick6 debuted on December 6 in select states with additional rollouts anticipated to follow.