The concept behind progresive betting is pretty simple – instead of placing a single wager and hoping for the best, invest in multiple bets and potentially win more money.
You might be familiar with progressive jackpots. When you bet on a slot machine, some percentage of your bet goes to a jackpot, which is funded by the amount of money placed in the machine. When the jackpot is won, everyone who contributed to it gets their money back plus some extra. Since the jackpot keeps growing and growing until someone wins it, it’s basically a gamble with increasing returns.
Progressive betting is very similar, only instead of taking place at a single location, multiple locations can participate in a progressive betting pool. For example, if you were to bet $10 on the red button at a particular slot machine, you would be contributing 10% to a jackpot that’s being funded by everyone at the location. So if three people were playing at the same time, they’d all be on the same team and they’d all be sharing in the same jackpot. As soon as someone wins the jackpot, everybody there will win too, with the prize money going back to the pool to be redistributed.
This type of progressive betting can be pretty risky. You’re essentially placing multiple bets on a single event and hoping that enough people will contribute so that you can hit a winning combination. But if everyone at the location wins the jackpot, you’re out of luck. And if they don’t win the jackpot, then you’re out of pocket too because you spent the money you won in the first place.
On the other hand, if you wanted to take a more low-risk approach, you could place a single bet on a horse or dog race and hope for the best. The money you bet on that particular event will be split between the dogs/horses and the owner of the racecourse. So even if your horse/dog loses, you’ll still come out ahead because you didn’t risk anything.
The Pros And Cons Of Progresive Betting
While the concept behind progresive betting is pretty simple, it comes with some serious advantages as well as some disadvantages. Since multiple locations can be part of a single progressive betting pool, the odds of any one place coming up with the winning combination may be drastically reduced. Plus, throughput is drastically increased, as more locations can play on more devices at once. Here are the main advantages and disadvantages of progressive betting:
Advantages
Multiple benefits to progressive betting. First, it’s a great way to hedge your bets. If you think that a horse is going to win the race, you can bet on it and if it doesn’t, you don’t lose anything. Second, it provides an opportunity to become familiar with more horses and dog breeds. Third, you don’t necessarily need to have a lot of money to participate. Fourth, it creates a sense of community. When you play at a single location, everyone there is on the same team and if someone wins, they win money that was originally placed the same way by other players at the table. Fifth, it allows you to play at a higher stakes than you would otherwise. Sixth, you can play in real time. Live betting is popular among online poker players and although it’s not always possible, being able to place bets as the action continues is a huge draw. Seventh, it provides flexibility. Since the money stays in the pool and is redistributed at the end, you don’t necessarily have to play until you win. You can walk away at any time and know that you’ll be refunded. Eighth, it’s tax-free gambling. Certain U.S. states consider online gambling to be a form of recreation, so putting money into a progressive pool is essentially a no-tax purchase. This could potentially save you thousands of dollars in federal and state taxes each year.
Disadvantages
There are multiple disadvantages to progressive betting. First, it’s very high-stake gambling. As stated before, the more people who participate in a progressive pool, the smaller the chance that one place will win. And when one place does win, everyone else at the table will lose. Second, it’s very time-consuming. Just to make sure that everyone is placing bets on the right sides, you could end up having to watch the screen for a long time. Third, it can be difficult to find a group of people who want to participate in a progressive pool. It takes some planning and a lot of phone calls to get a group of people together who want to do this, so it isn’t something that will just happen by accident. Fourth, the cost is usually pretty high. The cost of a single data-layer vdevice (more on this next point) is usually about $500. And then you have to think about the cost of the phone bills and data plans that you will need to make the calls to get the pool started. Fifth, it requires a lot of trust. You’re basically giving your money to people you don’t know, which could be a potential problem down the road. Sixth, if one location wins, there’s no way to determine what the share is going to be. The cost for a single vdevice normally ranges from about $500 to $1,000, so you don’t want to give your money to a place that might cut you out of the profits later on. Seventh, you don’t necessarily need a group of people to set up a progressive pool. You can do it as a single individual if you’re sure that no one is going to interfere with your actions. Eighth, you have the risk of running out of money. Just like in a regular poker game, you don’t want to bet everything at once and then lose everything. Instead, you want to increase your bet with each subsequent pull of the dice or turn of the card, so you don’t end up in a bad spot because you ran out of money.
Recommended Sites For Progresive Betting
The concept behind progressive betting is pretty simple, but it comes with some serious advantages and some disadvantages. Since multiple locations can be part of a single progressive betting pool, the odds of any one place coming up with the winning combination may be drastically reduced. Plus, throughput is drastically increased, as more locations can play on more devices at once. Here are the recommended sites for progressive betting:
Primorbidity
The first and most important aspect of any good gambling site is the software. The software should be reliable, stable and safe. If any of these aspects aren’t up to par, then it’s basically a waste of time betting there. When it comes to software, primorbidity is one of the biggest issues that you need to be careful of. Primorbidity means that a site is so unreliable that it’s unwise to use it for gambling. The best example of a site with terrible primorbidity is Bovada. They used to be one of the good options available, but over the years, their software has become increasingly buggy, which makes it nearly impossible to use. Another good example of a site with terrible primorbidity is Paddy Power. They had a pretty good reputation when it came to sports betting, but over the years, they’ve become increasingly unreliable and their customer support is terrible, which is why I wouldn’t recommend them for betting.
Data Layering
Another important consideration when choosing a site to place your bets on is the data-layers. What this means is that the site should support multiple cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Also, it’s important to verify that the sites support the currency that you’re using. When it comes to data layers, it’s important to keep in mind that the more the better, as more data layers means more compatibility with more devices and more opportunities to make the right bets. The downside is that the more data layers the more expensive the device. For example, the more premium the Ethereum network is, the more expensive the device becomes (mostly due to the higher fees that the network charges). You get what you pay for. Another important consideration is whether or not the site has been hacked. It’s important to verify that the site is indeed secure and that your personal information is safe. The last thing that you want is to place a bet and have all your account details stolen. Since security is one of the main elements of any good gambling site, it’s important to ensure that you’re not putting your personal information in any way at risk. Hackers can and do happen to the best of us, so it’s important to be careful. There are many safe and secure places to gamble online, so you don’t have to worry about your safety or privacy. Just make sure that you’re doing your research before choosing a site, and keep in mind that not all hacks are created equal.