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Teaser Betting Explained
Teaser betting is a common variation on a parlay that gives bettors greater control over spreads or totals markets. In this comprehensive guide, we’ve discussed what exactly teasers are, how you can make them, the sportsbooks that offer them, and examples of how they can be utilized for different sports.
A Sports Betting Teaser Bet Explained
Teaser bets are a special type of parlay that require bettors to increase the point spread by a set number of figures to improve their odds but reduce the payout rate. To qualify as a teaser, at least two legs must be added to the single parlay bet, and it will only payout if all legs are successful.
It is possible to make teasers for both point spreads and totals. The exact number of points that can be adjusted will depend on the sportsbook or sport. Football is one of the most popular sports for teasers, with points adjusted by between six and seven points. Basketball is another favorite for teasers.
The odds will be reduced for a teaser bet, meaning that payouts are adjusted to make it more plausible for sportsbooks to offer them. For this reason, bettors must consider whether it’s wiser to make a normal parlay or, if they are confident in their own prediction, to adjust the spread.
In addition to basic teasers, bettors are able to make reverse teasers that lower the odds to win but increase the payout potential. We have explained how these work further in an upcoming section, as well as alternate parlay options that may be more suitable if you’re still learning the basics of sports betting.
How to Make a Teaser Bet
Modern online sportsbooks are now loaded with technology that ensures the teaser building process is accessible for all players’ experience levels. To get started, add at least two markets for spreads and totals to your bet slip. These may be limited to certain sports such as football and basketball.
At the top of your bet slip, you should see a Teaser parlay tab. Click this tab and you will then see a tool that allows you to increase the points for all of your selections. At sites such as BetMGM, the point spreads will be limited to set figures, with basketball parlays allowing between 4 and 14-point adjustments.
Once you’ve adjusted the totals, you’ll notice that the odds for the parlay will change. If you’re satisfied with the selection, enter your stake and confirm the bet. Remember that just like all parlays, the more legs you add the more you increase your chances of losing. Retail sportsbooks will also facilitate teaser betting.
Reverse Teaser
You may come across the option to make a reverse teaser or “pleaser” at your chosen online sportsbook. While teasers permit the increasing of points, reverse teasers allow you to sell spread or total points. The selling limits will depend on the sport too, with six points being the common figure in football betting.
As the points are decreased, the payout rate is increased in turn. This indicates that they are in fact much harder to hit. That’s why reverse teaser picks are often better suited to college sports that could have sharper pricing oversight.
Teasers, Standard Parlays, and Robins
In addition to teasers, online sportsbooks will usually also offer parlay or round robins as an adjustment option in the bet slip. Unlike teaser sports betting, a standard parlay does not give bettors the ability to adjust any elements of the odds or market. Rather, they stake on the available odds and spreads.
However, like teasers, all legs must be successful for a standard parlay to pay out. The odds will also adjust with every new leg that is added. A round robin is a vastly different betting option that sees several parlays created from market selections that are combined to become a parlay.
For example, if three moneyline legs are added for a win for teams A, B, and C, then the robin parlays will include one AB, one AC, and one BC. Many legs can be added, though the chances of winning will drastically decrease. Robins require a higher stake since you’re making multiple parlays, but will pay out more than separate parlays on each outcome.
Teaser Payouts and Odds
When it comes to teasers, most sportsbooks adopt fixed odds adjustments with every selection. For example, a two-team teaser may see -130 odds applied to six-point adjustments, -140 for 6.5 points, and -150 for 7 points. The odds changes will be the same no matter which markets are wagered on.
As another team is added to the teaser and points are adjusted, the point changes may also follow the same incremental shifts. One example of a sportsbook that has fixed odds changes for teasers is BetMGM, which advertises its teaser odds table in its terms and conditions.
Other sportsbooks such as ESPN Bet are known for offering dynamic teaser prices that will change depending on how lucrative the teaser price is. There are pros and cons to each pricing system, with fixed-odds being more reliable but dynamic prices potentially more rewarding and versatile.
Teasers in the Event of a Push
Just like a parlay, a sports betting teaser can be impacted by a push. While many markets will avoid the possibility of a point outcome landing on the spread by including decimal figures, this isn’t always the case. If there is a push on a teaser with two teams, the bet will be canceled and the stake returned.
If you have a three-team teaser or more and one of the legs is pushed, the odds will be readjusted to include the remaining legs and will pay out accordingly. It is worth looking at the terms and conditions for teaser push rules in your sportsbook to see if these vary.
Pros & Cons
The primary advantage to making a teaser bet is that point spreads are adjusted to favor bettors. This helps insure against losses while still offering enhanced payouts compared to single bets on multiple outcomes. There is also increased flexibility for bettors to ensure a more pleasant and customizable betting experience.
But just as the payouts are still enhanced in comparison to other single bets, they are notably reduced when compared to standard parlays. This betting option is also limited to only football and basketball at most sportsbooks, so they may not appeal to some types of bettors.
Teaser Betting Strategy
Before you choose this betting option, understand the different teaser rules at your chosen sportsbook to see how much you can adjust the point spreads by. Then, analyze any upcoming or in-progress games that have narrow totals or spreads and exploit them, as this will increase the chances of a successful teaser.
Timing is important with live teasers, so keep an eye on the lines and strike when the odds are favorable. An essential element of a betting teaser strategy is to learn the key figures in sports betting for football and basketball. For example, margins of victory are commonly 3 or 7 for football, so this should be factored into your point spread adjustments.
If you’re completely new to a sportsbook teaser bet, experiment with different combinations of events and sports. You could theoretically adjust the spread on an NBA team and an NFL team if this is appealing. Be sure to evaluate the odds at different sportsbooks and choose the option that will pay out the most.
As with any sports betting strategy, good budget management is integral to success and longevity. Set aside funds specifically for teasers and don’t chase losses. Do not become overconfident with your point adjustments to chase higher payouts as the odds of winning will decrease for good reason.
When to Avoid Teasers
If the outcome for a particular match seems volatile and difficult to predict, do not place a teaser as it is best to place a teaser on pair-ups that are evenly matched. It is never wise to place a teaser if it is to chase losses, nor should you place a teaser if you haven’t committed to enough research or odds comparisons.
A Teaser Bet Example for Different Sports
As we have covered, teasers are most commonly available for basketball and football at US online sportsbooks. This includes both college divisions and major professional leagues such as the NBA and NFL. To ensure that the teaser bet definition is clear, we have provided examples for both sports below.
Basketball
Consider the following scenario for an NBA point spread teaser:
An NBA game that has the Charlotte Hornets compete against the Washington Wizards could have a point spread of +3.5. Assume you were to increase the points of the Hornets, with odds of -115, to +7.5. Your second market pick may see a -8.5-point spread to the Oklahoma City Thunder against the Miami Heat with -110 odds.
If you add the Thunder and adjust the spread by four, it would result in a -4.5 spread. A sportsbook may return the odds of -110 for both the Thunder and Hornets, with a potential payout of $191.91 in the case of a win. If the original spreads were added to a parlay and won, the payout would be $356.92.
Football
Consider the following scenario for an NFL totals teaser:
An NFL game that sees the New England Patriots compete against the Buffalo Bills could have a totals spread of 45 points at -110 odds. You could tease the total up to 51 points with the odds adjusted to -130.
In a separate game, the Green Bay Packers and Chicago Bears are expected to total 50 points at -110 odds. You could adjust this to 56 points with the odds adjusted to -130. With the markets combined, you could stake $100. This would result in a $176.93 win. A parlay on the original odds and spread would generate a $364.46 win.
Tools and Resources for Teaser Betting
The easiest way to find the potential payouts of a teaser bet is to use the bet slip automatic calculator and add your picks to that. However, if there are theoretical teasers that you are looking to exploit, you could use a sports betting teaser calculator at an external website.
Many sportsbooks that use fixed odds for teaser point adjustments will include pages in their Help Centers or FAQs that explain how these work. If you intend to make teasers regularly, refer to these odds tables and keep in mind that payouts can drastically change when more teams are added.
As sports betting becomes more popular across the USA, there are more resources where you can find expert picks and recommendations through blogs, Reddit forums, YouTube videos, and podcasts. Familiarize yourself with these pundits as they may share recommendations of when to exploit teasers.
FAQ
Is utilizing teaser bets a solid betting strategy?
There are many good instances when betting a teaser is a good strategy. It is best to do this when the pair-ups are evenly matched and when the odds may have not yet taken into account player injuries or other details. It’s wise to place a teaser only when sufficient research has been undertaken before implementing a strategy.
What can happen to a teaser if one leg is pushed?
This will depend on the sportsbook you have signed up with and the type of teaser that has been placed. In most cases, a two-team teaser that sees one market pushed will be canceled, with the stakes returned to players rather than the market being readjusted as a single bet. It’s worth looking at the specific sportsbook teaser rules at your betting site to see if its terms vary on this.
Which sports are best for using a teaser bet?
Unfortunately, US sportsbooks generally limit the teaser options to two sports: football and basketball. This is because these are among the most popular sports to bet on and sportsbooks generally have access to a wealth of data to base their standard and teaser odds on.
Do all online sportsbooks offer teaser bets?
No, not all online sportsbooks offer teasers. One notable exception for teasers is BetRivers, which only provides standard parlays and round robins. That said, you will find several teaser sports betting site options listed at the top of this page that facilitate smooth and convenient teaser calculation.
Conclusion
Now that you’ve reached the end of this guide to teaser wagers, we hope that it's clear to you that these betting options are easy to learn and accessible to newcomers and seasoned players. However, it should also be clear that these options may not always be the best for your betting strategy.
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If you’re new to them, keep your selections limited to only two or three teams so that the process isn’t overwhelming or unnecessarily risky. Most football teasers are adjusted by between six and seven points, while basketball points are adjusted by four, so consider this when teasing your spreads and totals.