What is a Teaser Bet? Detailed Explanation & Examples

Sports betting provides hundreds of staking options and is always a great way of entertainment. There are many standard gambling methods in sportsbooks, such as spread, Over/Under (Totals), Prop Bets, moneylines, 2-way bets, etc.

Especially if you are a fan of football or basketball matches, one kind of parlay bet - a teaser bet is also considered a kind that offers better odds, allows you to adjust the lines on the point difference. Therefore, in this article, our experts will introduce the concepts and how to use teaser bets for punters.

What is a Teaser Bet?

Teaser bets allow punters to adjust point spreads to their advantage in many events. Usually, teaser bets are prevalent in football and basketball. At the same time, punters can be used for both spreads and over/under.

In addition, punters will receive six points per football game and four points per basketball game. In turn, they have to pick at least two teams, increasing the probability of bets failing by at least one turn. As with parlay bets, all legs must win to be ranked as a winner for the amount listed.

However, you should note that bookies will not offer six or four free points, as payouts are adjusted based on the number of points bettors receive and matches selected.

Teaser Bet Example

It sounds a bit complicated, but the teaser bet is quite simple.

Example: Suppose you want to bet on three teams in three games of the upcoming NFL season. These are the lines that you see in the bookmaker:

• Green Bay Packers +5
• New York Jets -4.5
• Kansas City Chiefs -3

If you bet these three games as a regular teaser, those will be the lines you need to beat. You need the Packers to lose less than 5, the Jets to win more than 4.5, and the Chiefs to win more than 3.

For a teaser bet, you can choose between a 6, 6.5, or 7 point teaser in the NFL. Let's say that you decide you want to do a 6 point teaser, meaning that every one of those spreads will move in your favor of 6 points. So this is the new spread you have to include on your previous bet.

• Green Bay Packers +10
• New York Jets +3.5
• Kansas City Chiefs +5

At this point, you will expect the Packers to win or lose under 10. Jets to win or lose under 3.5, and the Chiefs to win or lose by less than 5 points.

Overall, everything is exactly like a parlay, and you have to win all three bets to win this teaser bet.

Is Teaser Bets a Wise Bet?

Yes or No answers depend on your preferences as well as where the matches are taking place. Overall, teaser bets can still help players win when betting on their favorite teams as parlays and can add six points to the point spread in their favor.

In NFL tournaments, a specific type of two-team teaser (called Wong - named after gambling author Stanford Wong) exists, which can be bet with positive expectation (+EV). Because of the sharpness of NFL competitions, buying points is more valuable than college football. The college market is much less certain. Therefore, paying for the numbers makes less sense.

Also, just like parlays, teasers offer a one-time play with additional odds, keeping costs low with higher payout potential.

How to Place a Teaser Bet 

The way to bet may vary depending on the bookmaker. However, in general, the betting steps will be as follows:

• After logging into your account, choose the market you like;
• Click on all spreads or totals related to teaser bets;
• When going to "bet slip," find "teaser" and click on it;
• Use the "+" or "-" buttons to adjust the desired number of points;
• Check all variances/totals adjusted as desired;
• Review the odds and potential payouts;
• Confirm the bet.

Understand Teaser Payouts

The payouts for teaser bets will vary from book to bookie as they use an algorithm that determines payouts based on three main factors:

• Sports (Football teasers are better than basketball bets);
• The number of points punters get;
• The number of games included in the teaser as punters need to win every game to get the stake back.

Here are examples of some teaser bets payouts for football games, based on score and number of selections. It should be noted that the payouts are not always the same for all bookmakers.

How Do Teasers Change Football Betting Lines?

Although it depends on the sportsbook, football teaser bets usually involve the three main numbers of 6, 6.5, and 7. Punters can choose to either move the favorite line lower or push the underdog odds higher.

To give you a better understanding of how the odds will move on an NFL bet on a 6-point teaser. We'll put all three favorites on seven points (this is the second most popular winning margin after three).

Original Odds:

• Green Bay Packers -7.5 vs. New York Jets;
• Kansas City Chiefs -7.5 vs. Dallas Cowboys;
• Los Angeles Rams -8.5 vs. Buffalo Bills.

Gamblers may enjoy favorites in all three games, but dropping more than one tap down isn't appealing. Therefore, it is the right time to bet 6 points as the odds of each match fall below the two most common winning margins.

6-point Teaser Odds:

• Green Bay Packers -1.5 vs. New York Jets;
• Kansas City Chiefs -1.5 vs. Dallas Cowboys;
• Los Angeles Rams -2.5 vs. Buffalo Bills.

There is a twist with teasers where the payout is reduced compared to the return paid on standard matches. The numbers will vary by the bookie, but the price on a 6-point opening game is usually set between +150 and +180 for three-team bets, i.e., punters will get a profit of $150 to $180 on a $100 chance.

What Happens if a Teaser Leg Pushes?

A push reduces the number of bets in a regular match of three or more teams. Push in sports betting is when a game hits the same spread or total.

If a selection in the teaser is a push, it will drop to the next lower level if a lower level is given to that particular teaser bet. Also, there is no action in one stage of the two-team teaser, and there will be no action in that teaser, and all funds will be refunded.

Bottom Line: Are Teasers Sensible Wagers?

As mentioned, each individual will have their preferences and judgments about teaser bets. Increasing or decreasing odds will yield more favorable odds, but the payoffs are significantly reduced. Also, since teasers use half points, the chance of pushing is eliminated, meaning that each pick on teaser matches must be won outright for the punters to receive a winning ticket.

The best strategy is to limit the number of games involved; although +600 odds on a 6-team teaser might be attractive, the odds of winning on all six sides are not very good. So don't let the higher payouts fool you. Limiting the teaser to two or three choices gives a better chance of making a profit. Therefore, it is always wise to do your research before placing a teaser or any other type of bet.

Do you know? 

A pleaser bet is similar to the teaser. Let's explore what is Pleasers? How is it different from the teaser?

What is a Pleaser Bet? 

A pleaser bet is similar to the teaser. Gamblers will also bet on two or more teams (individuals), and each team's lineup is adjusted in favor of higher payouts. Just like a parlay, all selections must be correct for the bet to have a good outcome.

Example: Suppose you want to bet pleaser on 3 teams on the games in the previous example. These are the lines you see with individual bets or if you parlay these games together.

• Green Bay Packers +5
• New York Jets -4.5
• Kansas City Chiefs -3

If you decide to bet a 6-point pleaser, you will have to go through the new lines to win.

• Green Bay Packers -2
• New York Jets -9.5
• Kansas City Chiefs -8

As can be seen, each line has been shifted 6 points in sportsbook favorites. To win this bet, each team must have a much larger spread, and you will need to win each of the three games to win the bet you want. If you lose a game, your pleaser bet will be void.

How Does a Pleaser Bet Pay Out?

There are three main payouts for pleaser bets:

• The number of points where the spread or total lines are moved;
• The number of selections included;
• The potential payouts.

Bettors can choose the number of points and the number of choices, which will affect the payouts, allowing some control over the possible levels of risk and reward.

Usually, there will be options of 6 to 10 points (6 or 7 points are the most common) for football lovers in terms of how many points the difference line or total is moved. Meanwhile, picks for basketball games often tend to be 4, 4.5, or 5 points. However, different bookies may offer other options. Increasing the number of choices will increase the payout but will make it harder for you to win the pleaser.

Here are some examples of payouts for 7 points football pleasers that you are likely to encounter at most bookies.

Should You Place a Please Bets or Teaser Bets? 

Remember that each bet type has specific strategies that depend on each match's punters' choices and preferences.

As seen from the payout odds tables above, pleasers offer the chance to multiply your chance by a massive multiplier if multiple lines are identified, and you can still win despite switching to sportsbook favorites.

So that, if you're willing to take a high risk with pleaser bets, make sure you reserve them for special occasions where you see multiple lines that don't seem way off.