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Over the last month, we at BettingPros have provided our readers a lot of content on how to make bets against the spread, on moneylines, and on totals. We have also delved into various prop bets such as team totals and winning margins.
In this column, we take a deeper look into my favorite bet of all: the “teaser bet.” Every time I make a teaser bet I think to myself, “How could this bet go wrong?” Keep in mind, they are called “teaser bets” for a reason.
What is a Teaser Bet?
A teaser bet is similar to a parlay in the sense that it takes multiple games or “legs” of the bet to win. However, teasers differ from parlays since you are not betting the actual spread. With teasers, bettors are given a fixed number of points with which a spread can be adjusted. Bettors can also adjust the total of a game if they wish to do so.
What is an Example of a Teaser Bet?
Here is an example of a hypothetical teaser bet from the NFL:
Three-team 7-point teaser
- New England Patriots -9.5 vs. New York Jets
- Kansas City Chiefs -5.5 at Los Angeles Chargers
- Green Bay Packers vs. Chicago Bears Over/Under 42
With a seven-point teaser, a bettor could adjust the Patriots vs. Jets line down to Patriots -2.5 or up to Jets +16.5. For the second game, a bettor could adjust the line so that the Chiefs are +1.5 point underdogs or move the Chargers to +12.5. In the last game, bettors could move the Packers vs. Bears over/under to Over 35 or Under 49.
Let’s say the bettor’s teaser looks like this: Patriots -2.5/Chiefs +1.5/Packers Over 35. For the bet to win, all three legs of the bet must come true. If you notice, there is an opportunity for one leg of the bet to “push” with the Packers Over 35.
Do your research ahead of time to see how your sportsbook handles a push with a teaser bet. Some sportsbooks will still consider this bet a winner as long as the other two legs are successful, though they would pay out a fraction of the original wager. However, some sportsbooks would consider a push a losing bet since they already gave the bettor points to adjust the spread or total with.
What are the Payouts of a Teaser Bet?
For football games, sportsbooks often offer 6, 6.5, 7 or in some cases 10-point teasers. Teasers typically require a minimum of three teams, while some sportsbooks allow two.
For basketball games, sportsbooks may offer 4, 4.5, 5, 5.5 or 6-point teasers. Just like in football teasers, bettors can adjust spreads and/or totals for their basketball teasers.
The payouts of a teaser bet depend on how many points and how many teams one uses in their teaser. For example, a five-team 7-point teaser would pay out less than a five-team 6-point teaser.
With a more basic example, one can see another big difference between parlays and teasers. A standard two-team parlay (against the spread) may pay anywhere from +200 (2:1) to +300 (3:1). However, a basic two-team 6-point teaser may have odds of -110. Therefore, teasers are easier to hit than parlays but also pay out less.
How Do I Make a Teaser Bet at a Sportsbook?
Placing a Teaser Bet Online (or a mobile device)
- Log into your sportsbook account
- Find the sport(s) you which to wager on
- Click on all the spreads or totals that you want to involve in your teaser
- When you go to your “betslip,” your sportsbook will likely have every game you clicked on as part of individual wagers. Instead, find where it says “teaser” and click that
- Use the + or – buttons to adjust the amount of points for the teaser you want
- Check that all your spreads/totals adjusted in the direction you wanted them to
- Review the odds/potential payout
- If agreeable, enter your wager amount and click “confirm bet”
Placing a Teaser Bet at a Sportsbook (In-Person)
- Check to see if your sportsbook uses “teaser cards.” If so, fill out your card before approaching the cashier.
- If the sportsbook does not have teaser cards, simply approach the cashier and say you want to make a “teaser bet”
- Identify clearly all the teams and how many points you want to use for your teaser
- Tell the cashier which way you want to adjust each spread
- When you are done saying all the “legs” of your teaser, review the new lines on the screen in front of you
- If the lines are to your liking, then tell the cashier your wager amount
- Review the odds/potential payout
- If agreeable, hand the cashier your money. Take your betting slip and keep it in a secure place.