What Is A Teaser Bet And How Does It Work?

At Responsible Gambling, we sincerely believe that gambling can and should be a great hobby, not your primary source of income and to fully enjoy this pastime you really should be well versed in different types of bets in order to successfully combine them. In this article, we will tell you what a teaser bet is, how it works, and whether it is worth using.

What Is A Teaser Bet?

A teaser is basically a variant of a parlay bet with the main difference being that a teaser is a parlay with alternate point spreads or totals (Over/Under bets), moved in your favor. In a classic teaser, bettors get six points per football game and four points per basketball game. In return, they must pick at least two teams,  thereby increasing the chances of the bet losing by at least one leg. Just like in a parlay bet, all of the legs in a teaser must win for the bet to come through.

How Does A Teaser Bet Work?

The most common one is a six-point teaser, which bettors use to add or subtract six points from a spread or Over/Under whichever way they want. Some bookies offer their customers a wider range of point sizes, so it’s possible that you’ll find 6.5-point or 7-point teasers.

You must include at least two bets in a teaser (some sportsbooks require three or more). As the risk is greater, the more bets you add to a teaser, the more your potential payout will be. For a teaser to win, all bets included in it must come through – just like in parlay betting.

How To Make A Teaser Bet?

First, choose how many teams you want to include in your wager. A two-team teaser is the most common one, but some bookies will offer you teasers of 10 teams or even more.

After that, decide which teams you want to include in your bet, then take a look at the point spread odds section, choose the bet you want to make and finally repeat the process with all the other teams you’ve included in your wager.

When you’re done, you’ll see a section of your bet slip that reads “Teaser”. Click on that and choose the number of points by which you want to move the betting line in your favor but don't forget, the further you move the lines, the smaller your potential payout will be. Once you've done that you'll see the combined odds for your teaser. All you have to do now is to enter the amount you want to wager and submit. Keep in mind that it's not uncommon for sportsbooks to put a limit on the maximum amount you can wager with teasers. The most common limit for teaser bets is $1000.

Teaser Betting Strategy

The most basic strategy for teaser betting is related to football and involves moving a line on 1.5-point, 2-point and 2.5-point underdogs. The same goes for 7.5-point, 8-point and 8.5-point underdogs. In each case, it is recommended to move the line by not more than 6 points to get the best odds, as suggested by the renowned  gambling author Stanford Wong in his book “Sharp Sports Betting” published in 2001, which still holds true today.

NFL Teaser Picks Examples

Now, let’s imagine that the NFL regular season is in full swing, and you have three games you’d like to put money on. Each game is offering odds at a standard -110 (1.91).

So let’s imagine you’ve decided to follow Stanford Wong’s advice and back the underdogs. Here’s how your three-team, six-point teaser bet would look.

And choosing to stick with the favorites would look like this.

It is not mandatory to include only favorites or underdogs in your wager. Feel free to mix them up as you like, but keep in mind that each line should move six points in your favor.

NBA Teaser Examples

For basketball teasers, bettors can usually move the lines 4, 4.5 or 5 points. Let's imagine a typical match day of a regular season for an example of a two-team basketball teaser.

Here’s what your two-team, 4-point NBA teaser will look if you back the underdogs.

And here’s what happens if you trust the favorites.

Odds And Payouts For Teaser Bets

Every betting operator has its own algorithm to determine teaser payouts so of course payouts vary from one to another, but all of them are based on three main factors.

• The sport you bet on (football teasers always have better odds than basketball ones);
• The point size you’ve chosen;
• The number of outcomes included in your teaser, as you need every single leg to win the bet.

Here is an example of teaser payouts with standard price for each teaser type. We will use both American and European odds to make it crystal clear.

Tips For Teaser Betting

As we previously mentioned, a teaser is basically a subtype of a parlay bet and therefore carries some risk of losing money, which makes it more profitable for the bookmaker. We'd recommend betting teasers just every once in a while to have more fun while actually watching the games and not rely on them to score loads of cash. Here is what else to remember.

Avoid teasing through 0

It would not be a good idea to take a team that’s -4 to +2, since the NFL games are not designed to end in ties.

Basketball And College Football Games Are Not Good For Teasing

You should really stick with the NFL if you’re into teases. In the case of basketball and NCAA football, the range of outcomes is wider, and the odds are always worse. Teasing these games, in our opinion, is just not worth it.

Pay Attention To The Odds

Always try to make sure you’re getting -120 or better on 6-point, two-team teasers. If you’re not getting a fair shake on those, you’re probably not getting it on other teasers.

What Is A Pleaser (Reverse Teaser)?

A pleaser is the opposite of a teaser. When you play a teaser, you buy extra points to increase your chances of winning a bet. When you choose to play a pleaser, you sell the points to get a bigger payout. Let’s see how that works using our imaginary NFL regular season again.

So, if you like the underdogs’ chances and think they can cover a shorter number, you may “sell” six points to get better odds and a bigger payout.

NFL Super Teaser Cards

A super teaser card is a special card usually used by offline sportsbooks, which allows bettors to move the spread or Over/Under points by a large number (most often 7.5 or more).

These cards often require at least three bets per teaser and the payouts are adjusted to reflect the number of points chosen for line movement.

What Happens if a Teaser Leg Pushes?

If a two-team teaser bet pushes (i.e the game you’ve chosen is canceled or lands on the exact spread or Over/Under), you’ll get a refund just like in parlay betting. If that happens in a three-team teaser, it will be graded as a two-team one with a different payout. A four-team teaser will thus turn into a three-team teaser, etc.

Pros & Cons Of Teaser Betting

Now let’s take a look at some advantages and disadvantages of betting teasers.

Pros

• Better odds and bigger payouts compared to individual bets;
• Better winning chances compared to classic parlay bets;
• A good way to add some fun and adrenaline while watching the games.

Cons

• Smaller payouts compared to parlays;
• Bookmakers are more likely to win and take your money;
• Bookmakers’ margin is bigger than if you play individual bets;
• Betting teasers only might result in a losing streak, which would affect your mental health and might lead to problem gambling behavior. 

Conclusion

Teaser bets have become very popular with the development of the sports betting industry. This type of bet is not the best solution for a long-term game, but is great for brightening up a weekend evening sometimes.

Gamble Responsibly

No matter which type of bets you prefer, you should always remember to approach the game responsibly. Do not perceive gambling as your main source of income, do not exceed your own financial and time limits, be sure to use the responsible gambling tools provided by your sportsbook, and keep your gambling fun.