What Is A Teaser Bet? Teaser Betting And Teaser Odds, Explained

Football and basketball bettors know only too well how tough the point spread or total can be to beat on a week-to-week basis. Sometimes you may like a team, but when you see the point spread, you decide you aren’t quite getting enough points or you are giving up too many extra points. One popular solution to this problem is the teaser type of wager.

What Is A Teaser Bet?

Unlike straight bets, teaser bets come in a variety of different sizes depending on which online sportsbook you use.

Teaser bets are an effective way to play with point spreads given by oddsmakers to better fit the wager you would like to place. Sometimes point spreads that are offered are too constrictive or are often set so that sports bettors have a tough time picking which way they want to bet. 

This is where the beauty of a teaser bet comes into play. By placing a teaser, you can effectively create the spread you feel gives you a higher chance of winning based on your opinions/predictions on how a matchup may play out. Depending on the way you want to change the spread offered by your bookie, you may even end up with increased odds from what your original bet would’ve been. 

Learning to effectively utilize teaser bets is a great way to add a feather to your sports betting cap and ultimately set yourself up for larger paydays down the line.

Types Of Teaser Bets

NFL Teaser Odds

When betting NFL teasers, the most common football teaser varieties are selecting two or three teams and teasing NFL lines by 6, 6.5 or 7 points.

As an example of a football betting teaser, let’s say you like Pittsburgh -4.0 and Los Angeles +6.0 but are worried that the Steelers might only win by a field goal or that the Chargers might lose by a touchdown. If you pair these football games together in a 7-point teaser, you now have Pitt +3.0 and LA +13.0. Now any Pittsburgh win (and even a one- or two-point loss) is a cover, and Los Angeles is also covered in many more circumstances.

Three-Team Teaser Odds

Let’s say there are three bets you like this week:

Instead of betting these straight up or in a parlay bet, you could make a three-team, 6-point teaser bet of:

You’ll need all three teams to cover in order to win the 6-point teaser bet. At most online betting sites, a winning three-team teaser pays 1.8 to 1.

NBA Teaser Odds

Sportsbooks offer teasers for NBA basketball betting too. The most common types of basketball teaser bets are selecting two or three teams and teasing NBA lines by 4, 4.5 or 5 points.

Below are some point spreads you might see on a betting board:

Let’s say you wanted to make a three-team, 5-point teaser using the teams mentioned above. The point spreads would be moved 5 points in your favor with each team you selected. So, it would now look like this:

A $100 teaser on this three-team, 5-point teaser would have a payout of $150 in winnings. The exact payout schedule and whether a tie results in a PUSH or a loss can vary across online gambling sites.

Because teasers move the line so favorably in the direction of your choice, they do come at a price. Unlike two-team parlays that pay +260 at most online wagering sites, two-team, 7-point teasers pay -130.

Advantage Teasers: Teaser Betting Strategy

Soon after gambling author Stanford Wong released his book Sharp Sports Betting in 2001, Las Vegas sportsbooks started losing money on teasers. Wong showed that taking favorites of -8.5, -8 or -7.5 and taking underdogs of +1.5, +2 and +2.5 was the way to profit off teaser bets when given the right teaser betting odds. And that is why these are known as Wong teasers.

There are several other types of special teasers offered by online sports betting sites, such as super teasers, pleasers (a bettor actually gives points away in return for even higher returns) and sweetheart teasers.

Are Teasers Easier Than Parlays?

Teasers are easier to win, since parlay odds use the lines that bookmakers came up with while teasers give you a lot more coverage.

Teasers also leave a window in which both sides win, meaning that bookmakers would stand to lose that leg of the teaser regardless of which side you chose.

For example, let’s say a sportsbook is offering basketball teaser odds of Portland -3.0 against Memphis +3.0. If you decide to use this game in a 5-point teaser, you can have either the Trail Blazers at +2 or the Grizzlies at +8. If Portland loses by one or wins by seven or less, everyone who teased this game wins this leg.

Like a traditional parlay, each event selected for a teaser must win in order for the player to win the bet. Teasers (or sucker bets for some) aren’t always the best play, but they are a valuable option to have in your overall repertoire this NBA and NFL season.