Common in football and basketball, teasers require all selections to win for the bet to be successful. While they offer the potential for higher winnings, the reduced payout compared to standard parlays calls for careful betting decisions.
A teaser bet is a sports parlay bet that allows amending the point spread or the game total fixed by the sportsbook to make the outcome more favorable to the bettor. The point spread, also called the line, indicates the victory margin the sportsbook sets for a game. The game total is the combined score of the two competing teams.
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A teaser bet is commonly used in football, basketball, and hockey, though less commonly. This is because the points spread or totals in these games offer the scope to “tease” them with specific points. Consequently, NFL and NBA games see a lot of teaser bets.
Most sportsbooks, including Stake.com, Rollbit, BetOnline, TrustDice, and Cloudbet, offer teaser bets.
Teaser Bet Types
There are two options when it comes to teasing a bet. If you place your bets on favorites, your teaser point will reduce their spreads or the game totals. It will help the favorite cover the spread or the game to go over the total, helping your bet win.
When your teaser bet is on the underdog, your teaser point is added to the spread or the game totals. This helps the underdog cover the spread or remain under the total, helping the bet win.
The first scenario is called “tease a favorite,” which is also known as “tease the over,” and the second one is called “tease a dog,” which is the same as “tease the under.”
A two-team six-point football teaser is the most common teaser bet. Teaser bets are more common in football betting. Basketball also sees teaser bets, but less commonly. Adjusting your points spread by 6 points in football and 4 points in basketball is more common.
While a two-team six-point football teaser is the most common, teaser bets can be made with any combination of bets.
You can include as many individual bets as you like in your teaser bet. The more legs you include, the higher your payout in the event of a win.
Teaser Bet Payout is Less
A teaser bet is used to increase the chances of winning. However, it also influences the odds, resulting in a reduced payout compared to an ordinary parlay win. In other words, while teasing the lines increases the chances of winning, it also reduces the potential payout compared to a standard parlay.
Adjusting the point spread in your favor by a teaser increases the odds of the bet failing at least in one leg. The sportsbook reduces the odds for teaser bets, ensuring your payout is less even if you win.
Like a parlay bet, you should win all individual bets (legs) in your selection for your teaser bet to be successful. You will lose the entire teaser bet even if you lose one leg in your selection.
Teaser Bet Example: NFL Football
Let’s say it’s NFL football season.
Original Lines:
- Kansas City Chiefs are favored by 7 points against the Los Angeles Chargers.
- 3 points against the Miami Dolphins favor the Buffalo Bills.
You like both teams to win but are hesitant about the point spreads.
So, you decide to place a 6-point teaser bet.
Teaser Lines:
Kansas City Chiefs +1 (instead of -7)
Buffalo Bills +9 (instead of +3)
By teasing the lines, you’ve made it easier for both teams to cover the spread.
To win the teaser bet:
- The Chiefs must win by at least 2 points.
- The Bills must win or lose by less than 9 points.
If both teams cover their new, adjusted spreads, your teaser bet wins!
Calculating Teaser Bets
How much you win from your teaser bet depends on the specific sportsbook. Each sportsbook has its algorithm and rules. Three factors influence a teaser bet’s payout:
The sport: Football teasers offer the best potential to win. It’s because smaller margins decide football matches compared to other sports. In other words, adding or subtracting a few points can make the spread more favorable to you.
The number of points you get: A teaser adjusts the point spread in your favor. The specific teaser option you choose determines the number of points by which you adjust the point spread in all individual bets in your teaser bet.
For example, a 6-point teaser means you add or subtract 6 points to each game’s point spread. If you add more points to the spread, your odds of winning all the legs of the bet decrease. If you win, you get a higher payout.
Adjusting the bet with a smaller point increases the chances of you winning all individual legs. However, as the odds of your win increase, the sportsbook adjusts the odds accordingly, ensuring you receive a lower payout.
The number of games included in your teaser: If you choose fewer games for your teaser bet, the chances of you winning the bet are higher compared to when you have several individual bets (legs) in your bet.
Advantages of Teaser Bets
Increased chances of winning: A teaser bet lets you adjust the spread points in your favor.
Reduced risk: As you adjust the point spread, you reduce the chances of losing.
Flexibility: Teasers allow you to create more strategic betting options.
Disadvantages of Teaser Bets
Lower odds: Teaser bets have lower odds, resulting in lower potential rewards than conventional point spread or total bets.
Limited availability: Teaser bets are available only for football, basketball, and hockey games, which limits the bettor’s options.
Less control: Teaser bets offer less control over the bet’s outcome as the point spread or the total line is predetermined.
Teaser bets became popular after gambling author Stanford Wong introduced the concept of positive expectation (+EV) for two-team teasers. It works on the notion that nearly 40% of NFL scores have a margin of 3 to 7 points. If a teaser bet helps you cover this margin, your bet can be profitable.
Take Away
Teaser bets are quite popular in NFL, football, and NBA basketball games. They are also popular in Stanley Cup hockey games. Teaser bets allow the bettors to adjust the point spread or the game total by specific teaser points to make the bet more favorable to the bettor. A teaser bet is a sports parlay with adjusted points. As it allows the bettor to adjust the lines, the sportsbook reduces the odds, resulting in lower payouts.
