What is a Teaser?
A teaser in sports betting allows players to move the point spread on football and basketball teams when combining two or more games, similar to a parlay. All the leading online bookmakers offer teaser bets but may have different payouts.
The number of points bettors may move the line is up to them. The spread can be moved up in a teaser to give the underdog a better chance of winning or moved down if they think the favorite will win with a bigger handicap.
The standard teaser allows the bettor to move the line by six points in football betting and four points for basketball. In return for the more favorable lines, the bettor must pick at least two teams, which lowers their chance of winning by losing one leg.
Like a standard parlay, all teams selected in a teaser must win for the bet to succeed. Teasers involve a minimum of two teams, but many online sportsbooks allow up to ten bets in a single teaser.
How To Make A Teaser Bet
Teasers are made more in NFL betting than in any other market, with a six-point teaser being the most common. Bettors must pick at least two games correctly and get an additional six points on the spread for each game.
For example, the bettor likes the Giants, who are at +2.5 against the Patriots, and the Browns at -7 versus the Chiefs. The new spread for the Giants moves to +8.5, and for the Browns moves to -1. This makes the bet more favorable, but in exchange, the odds for winning are -120, which is much less than hitting a two-team parlay that pays +260.
Bettors can also pick half-points to add to the spread, with odds moving lower as more points are added. For example, a 6.5-point two-team teaser has odds of -130, and a 7-point two-team teaser pays the bettor -140 odds. However, bettors can choose up to eight teams, increasing the odds to over +1000 depending on the sportsbook.
Not only will sportsbooks offer the bettor a chance to buy points, but they also allow them to sell points. A reverse teaser, sometimes called a pleaser, is a wager with two or more selections in which the player will “sell” points to the sportsbook.
However, pleasers are more difficult to win in the NFL because of how sharp the market is. This means that it’s likely that the handicap between two teams in a game is more accurate. Players have a better chance of making a profit on pleasers in a market like college football or basketball than betting on NFL games.
When Should Bettors Use Teaser Bets?
In most cases, teasers aren’t a good option for betting. Like parlays, bettors must put multiple bets into one wager that must all win, increasing the chances that the sportsbook takes their money.
However, there are certain instances where a teaser can push a good pick against the spread into a great pick. If a bettor finds one team has an edge but not enough of one to place a bet on the current point spread, adding points to that team can give them an excellent advantage.
Teaser Bets Pros and Cons
There are some obvious advantages to making teaser bets. Anytime a bettor has more than two teams they really like and can add six points to the spread in their favor, it’s a great alternative to a regular parlay.
Comparing odds at different sportsbooks can also give players an advantage. There are some sportsbooks online that will offer two-team six-point teasers at +100 odds, while most others offer the same bet at -120, which can give a huge boost to profits.
For those bettors looking for higher payouts, parlays are a better option than teasers. This is because the house advantage increases with each team added to a teaser. As a result, it is much higher than a regular bet on the spread.
Many players will avoid teasers simply because the house edge is so big. For example, an eight-team parlay using point spreads could pay out +3500, while the same eight teams on a 6-point teaser would pay the bettor closer to +1000. Also, research has shown that 7-point teasers have a negative return on investment in the long term.