Teaser Bet Explained: What is a Teaser in Sports Betting?
Sports bettors need to learn to walk before they can run. So, after mastering moneyline bets, spread betting, over-under totals, and parlays, some enjoy the exotic sports wager known as the teaser. Most commonly offered in NFL and NBA betting circles, teasers allow the bettor to adjust the point spreads in a multi-bet parlay wager. This guide will explain teaser betting in detail, provide real-world examples of teaser bets and answer frequently asked questions.
What is a Teaser Sports Bet?
If you’re familiar in building and making parlay sports bets, a teaser is closely related. Teaser bets are offered most often on NFL betting and basketball betting online sportsbooks. If bettors aren’t comfortable with the point spread or point total of any one game, they may buy points, a.k.a. tease, the line or over/under up and down. Teasers are available on parlays of 2-or-more events.
With baseball, hockey, soccer, etc typically ending with lower run/goal totals, you won’t find teasers available in these sports.
NFL Teaser Example
NFL teasers feature three key numbers, 6, 6.5 and 7. This is how many points the spread can be moved up or down ahead of a matchup. Here is a real-world, three-team, 6-point teaser:
- Browns -7.5 vs Jaguars +7.5
- Chiefs -6 vs Chargers +6
- Patriots +2.5 vs Bills
Let’s say you are backing the Browns, Chiefs and Patriots. With a 6-point teaser, here are the new spreads:
- Browns -1.5
- Chiefs PICK
- Patriots +8.5
In order for the teaser to cash, all three teams must cover the spread. If any leg of the teaser loses, the entire ticket loses. If the Chiefs and Chargers PUSH (tie), that leg of the teaser is removed and only the Browns and Patriots wagers are counted at lower odds.
NBA Teaser Example
The key teaser numbers in NBA basketball betting are 4, 4.5, and 5. Just like with an NFL teaser, an NBA one affords bettors the opportunity to move the on a parlay of 2-or-more events. Here’s an example of a 4-team, 4-point teaser:
- Lakers +2.5 vs Warriors -2.5
- Cavs +4.5 vs Sixers -4.5
- Nets +4.5 vs Bucks -4.5
- Suns -9.5 vs Magic +9.5
Now, let’s say you’re backing the Lakers, Cavs, Nets and Suns in this 4-team teaser. Here are the new lines on your ticket:
- Lakers +6.5
- Cavs +8.5
- Nets +8.5
- Suns -5.5
In order to cash, all four wagers must be correct. Your odds are stronger because you picked four events, but the risk is also higher than if you teased just two teams.
Difference Between Teasers and Parlays
Though sports parlays and teasers are closely related, there is one big difference. Rather than write how that is, it’s easier to illustrate the difference between a parlay and teaser bet.
| Parlay Matchups | Point Spread | Parlay Adjusted Spread | 3-Team, 6-Point Teaser | New Teaser Spread |
|---|---|---|---|---|
| Browns vs | -4.5 | No change | Adjusts line | Browns -10.5 |
| Bengals | +4.5 | No change | Adjusts line | Bengals +10.5 |
| Chiefs vs | -7.5 | No change | Adjusts line | Chiefs -13.5 |
| Broncos | +7.5 | No change | Adjusts line | Broncos +7.5 |
| Seahawks vs | -2.5 | No change | Adjusts line | Seahawks -8.5 |
| 49ers | +2.5 | No change | Adjusts line | 49ers +8.5 |
As you can imagine, with the Browns, Chiefs and Seahawks teaser lines becoming more difficult to cover, odds swing in your favor, while odds also improve if you backed the Bengals, Broncos and 49ers at comfortable spread because you need all three teams to cover their plus-spreads in order for the teaser bet to cash.
What if my Teaser Bet Pushes?
Win
Teasers are point spread / point total-adjusted parlay bets. All legs of a teaser must be correct for the wager to cash.
Loss
If any one leg of a X-team, X-point teaser is incorrect, the entire bet slip loses.
Push
In the off-chance one leg of the teaser bets is a push/tie, the sportsbook will just take that off your bet ticket. However, if you only wager a two-team teaser and one pushes, your original wager will be returned to you.
Teaser Sports Betting Strategy
Teaser bets assume the bettor understands sports betting enough to buy points on games where they have an advantage (or think they do). For beginners, basic strategy makes a basic. Remember these teaser sports betting tips to avoid rookie mistakes.
- Find -120 Teasers: These days, few sportsbooks offer -110 bets on teasers. Some only offer -130 bets, so the best teasers most bettors can find are -120. Look for these when shopping for teasers.
- Bet on NFL Games: NFL games tend to involve parity more than most American sports, so they are best for teaser sports betting strategy. Don’t place teaser bets on most other sports.
- Buy 3 or Buy 7: Since NFL winners tend to win by either 3 points or 7 points, buy 3 points or 7 points. Buying 6 points and 10 points also has value. When buying points, you get more value than if you buy 2 points, 4 points, or 8 points.
- Reverse Teaser Strategy: When betting pleasers, the reverse logic applies. Since NCAA football games and basketball games often have higher margins of victory, it’s best to bet on college football or NBA games when placing a reverse teaser bet.
Teaser Sports Betting Odds and Payouts
Teaser odds vary from one sportsbook to the next. That being said, bookmakers are competitive and tend to have similar odds and payouts. Use the following odds ranges as a measuring stick when choosing when engaging in teaser sports betting.
| Teaser Size | 6 Point Odds | 6.5 Point Odds | 7 Point Odds |
|---|---|---|---|
| 2-Team Teaser | -110 | -120 | -135 |
| 3-Team Teaser | +160 | +140 | +120 |
| 4-Team Teaser | +265 | +240 | +215 |
Teaser Betting FAQs
What is a teaser in sports betting?
Most commonly found in basketball betting and NFL betting, teasers are similar to parlay bets in that they combine multiple wagers on the outcome of different events on the same ticket. Unlike parlays, teasers allow bettors the opportunity to adjust the point spreads up or down. For example, an NFL 6-point teaser would look something like this: Let’s say the bettor backed the Chiefs -1 and Browns +15.5 on the 2-team, 6-point teaser, Kansas City would have to win by 2-or-more and the Browns would have to lose by 15-or-fewer points or win outright in order for the teaser to cash. If either wager loses, the entire teaser ticket loses. If the Chiefs win by one point, that leg pushes and the entire original wager is returned.
What if a teaser bet pushes?
Just like with a parlay bet, if one leg of the 3-team-or-higher teaser pushes, that pick is just removed from the bet slip and the rest of the action remains live. If a bettor wagered a two-team, 6-point parlay and one of the events pushes, the original wager is returned to the bettor.
What is a Wong teaser?
A Wong teaser is a specific type of 2-team teaser named for gambling author Stanford Wong. These bets theoretically have a positive expectation (+EV), but they only work in NFL betting. With its salary cap structure and draft rules, the NFL is designed for parity. Buying points, therefore, makes sense. Buying points in college football games is inadvisable because most games are relative blowouts.
What is a reverse teaser? What is a pleaser?
Reverse teaser sports betting exists, as well. Instead of buying points, you sell 6 points to the sportsbook. Reverse teasers are called “pleasers”, because they have huge payouts when they hit. Some joke they’re called pleasers because the sportsbook is pleased when you make this wager.
How many points is an NFL and NBA teaser?
The typical NFL teaser adjusts the spread either 6, 6.5, or 7 points and odds/payouts become higher or lower depending how many points you “tease” and in which direction. The typical NBA teaser adjusts the spread 4, 4.5, or 5-points.
Are teaser bets worth the risk?
This depends on a couple factors, namely the bettor’s comfort level with the sports and/or events his teasing. If an experienced bettor knows the ins and outs of NFL point spreads and over-under totals, the risk is less than a novice jumping right into a 3-team, 6-point teaser with little experience betting the point spread. Payouts are larger because the risk is larger. If you like to bet aggressively and know the sport you’re betting on, yes teaser bets are worth the risk. If you’re new to sports betting, start off slow with a moneyline bet and learn how to wager point spreads.
