Re: Is my use of binomial distribution correct?
I'm not really sure why it's called a progressive parlay. A regular parlay only pays out if you're perfect, where as a progressive parlay pays a smaller amount if you miss one (or more) games. I think a 12-game progressive parlay pays 12, 11, 10 and 9 correct picks, at 900:1, 80:1, 10:1 and 3:1 respectively.
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