What is a Teaser Bet?

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❓How Does a Teaser Bet Work?
📊Advantages & Disadvantages
💡Tips for Beginners

A teaser bet is an alternate version of a parlay which allows the bettor to manipulate a spread or points total to a more favorable line that has a greater likelihood of winning.

It’s most commonly used when betting on basketball or football and, like a traditional parlay, requires a minimum of two separate bet selections.

Although a teaser bet is easier to win than a regular parlay, the trade off is that the potential payout becomes lower as a result. Effectively it is an easier-to-win parlay with a lower return.

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How Does a Teaser Bet Work?

There are two distinct types of teaser bets, spreads and totals.

In a standard points spread, your chosen team is allocated a specific handicap (either positive or negative, depending on whether they are the favorite or underdog) before the game begins, with the intention of making the two teams theoretically equal.

However, in a teaser spread bet, additional points are added to the original line to make it more likely that your chosen team wins. Generally, the sportsbook will allow you to choose how far you move the line, with each line move further reducing any potential payout.

Here is an example, with two hypothetical matchups and their default point spread lines.

Team A (-5.5) vs. Team B (+5.5)
Team C (+12.5) vs. Team D (-12.5)

If the bettor picks Team A, they would require them to win by at least six points to clear the -5.5 spread. In a parlay that also includes Team B, they would require Team B to win or avoid losing by 13 or more points

However, in a six-point teaser bet, the same two selections would receive an additional six-point advantage, giving an even better chance.

Team A (+0.5) to beat Team B (-0.5)
Team C (+18.5) to beat Team D (-18.5)

Now Team A simply needs to avoid defeat and Team C can lose by up to 18 and the bet will still win. Keep in mind, though, that these new and more favorable conditions will be reflected in a lower payout should the bet win.

The same principle applies to total points betting. In this market, a pre-determined points line will be set and you have to predict whether the game will yield fewer or less. So, an example of a regular points line might be:

Team A vs. Team B - Over / Under 50 points

If you pick under, you’re betting that the game will feature 49 points or fewer. If you pick over, you’re betting that there will be 51 points or more.

A six-point teaser in this scenario would move the line in opposite directions, depending on which side you bet on, to give you more margin for error.

If you picked under, the line would move from 50 up to 56, giving you a higher ceiling, but if you picked over, the line reduces from 50 to 44, making the line easier to surpass.

Just like a parlay bet, if one of your teaser selections ends in a push (also known as a tie), many sportsbooks will remove that selection from the bet and the number of legs, and potential payout, will reduce accordingly. If it is just a two leg teaser though, typically the entire bet will become a push.

Most sportsbooks also offer a ‘reverse teaser’. Reverse teasers do exactly the same thing except in reverse. They make it harder for the bettor to beat the lines but will also increase the payout. This makes reverse teasers a good option for expert bettors or anyone who has a strong opinion about a team’s chances of success.

Advantages & Disadvantages of Teaser Betting

As with any bet type, teaser bets have pros and cons to consider before deciding whether they are right for you. We’ve listed some of these below:

The advantages of teaser bets include:

Less risk. Because the lines are moved in your favor, you have a greater chance of winning than in a typical parlay and, therefore, there is less risk of losing your stake.
Greater flexibility. Teaser bets often let you choose how far you would like to move the lines, making it a flexible betting option.
Excitement. The nature of teaser betting, which asks you to make multiple selections across a game round, can make the betting experience thrilling as, one by one, you watch the legs win and grow closer to a big return.

The disadvantages of teasing betting include:

Smaller payouts. The primary downside of making the lines easier to beat is that the probability of the bet winning is greater and, therefore, the odds are smaller. This means that if you win the bet, you’ll be paid out less.
Only available on certain markets. Generally speaking this bet type is only available on spread and totals bets. Although it might give you greater flexibility on your betting lines, you have less flexibility on the betting market.
Danger of overconfidence. The greater the likelihood of selections winning in conjunction with the smaller odds may tempt you to add further selections to your teaser bet. This will only add further opportunities for your bet to lose, particularly through games that you hadn’t originally planned to wager on.

Teaser Betting Tips for Beginners

Teaser betting is simple to understand but difficult to master. Here are some basic tips to help you improve your teaser betting strategy and, hopefully, maximize your profit.

Shop around for prices. A solid piece of advice for any bet is to check different sportsbooks for the best possible prices and teaser betting is no different. You might find that one sportsbook offers bigger odds on teasers than a rival and that added value will only multiply as you add more legs.
Understand key numbers. Key numbers in betting are understood as the most frequent margins of victory in an event, based on that sport’s scoring system. In football, for example, scores tend to move by three or seven at a time. Therefore teasing a football line by two, could be viewed as pointless as it will diminish your returns but isn’t enough to cover any potential score change. In that instance, you’d be better off either teasing the line by three or not at all.
Keep it Simple. Once you begin composing a teaser bet, it can become tempting to boost your potential return by including additional legs that you hadn’t originally planned to wager on. Try to resist doing this and remember that a successful three-leg teaser will always be worth more than an unsuccessful six-leg teaser.

The versatility and simplicity of teaser bets makes them an attractive wagering option for novice and seasoned bettors alike.

Newer gamblers, in particular, will definitely find the ability to manufacture their own lines a much safer and easier approach to parlays than they would with standard, tougher lines.

It’s important to remain disciplined and avoid needlessly adding extra legs to compensate for the shorter prices on offer but, if you can do this, you are far more likely to start landing multiples, which can be a thrilling and rewarding sports betting experience.