A teaser bet is a type of parlay wager which allows a bettor to change the point spread (or an over/under) by a set number of points to make the bet easier to win. But, because it is a form of parlay, the bettor must win all legs of the wager.
In this guide, we take a closer look at this betting line and how teasers work, offer you examples, and look at the sports this wager is best suited to. We also show you how to sign up and place a teaser on an online sportsbook and look at several tips for a more exciting betting experience. So, let’s jump in.
What is a Teaser Bet?
In sports wagering, a teaser bet is a type of parlay. This betting line allows bettors to move the point spread or total bet over a set amount of points, making winning the bet easier. However, as part of the wager, bettors must place multiple bets together (to create the teaser parlay), and they must win all of these smaller bets (legs) to win their teaser bet.
Bettors engaging in teaser sports betting commonly pair it with football totals (over/under) and spreads and basketball totals and point spreads. While the teaser is a type of parlay, it differs from a traditional parlay in that it offers points in the bettor’s favor.
While the points may work to a bettor’s advantage, the pricing doesn’t. For example, while a four-leg parlay of spread bets could offer a 10/1 payout, a teaser bet for those same matches but with the spread adjusted may end up with a payout of 3/1 or 2/1.
Handy Tip:
Parlay bets can be highly lucrative, but they’re tricky to navigate. To learn more about parlay betting, read our article by clicking here.
How Does a Teaser Bet Work? – A Teaser Bet Example
The most popular teaser is a six-point teaser. Here, bettors can add or subtract six points from a total or spread in whichever direction works best for them. While this is a common option, the best online sportsbooks provide a range of point sizes for teaser betting, including 6.5-point and seven-point teasers.
Generally, teasers must have two or more wagers; the more bets added, the higher a bettor’s payout, which increases the risk(winning two bets is easier than winning four.) As with parlay wagering, a bettor must win each bet that makes up the teaser to win and receive a payout. Losing even one leg of the wager causes the entire bet to fold.
So, how does this work? Let’s take a look:
If we were to take two NFL games to create a two-team, six-point teaser:
- Baltimore Ravens (vs. Green Bay Packers); Original spread -9.5 (-110), New spread: -3.5 (-110)
- Chicago Bears (vs. New York Giants): Original spread +2.5 (-110), New spread: +8.5 (-110)
As you can see in the new spreads, the points have shifted by six points. So, the bettor would now need the Ravens to win by four points or more and for the Chicago Bears to lose by eight points or less or win outright. If both these outcomes occur, then the bettor would receive odds of -110, which means they would earn $100 off a $110 teaser bet.
While our teaser bet example above shows what this betting line would look like for football betting, it is important to remember that these wagers also apply to basketball games. However, unlike football teasers that see a six-point shift, basketball games have a four-point shift. So, let’s look:
Looking at our example below, we have a two-team, four-point teaser bet:
- LA Clippers (vs Phoenix Suns): Original Spread: +2.5 (-110), new spread: +6.5 (+235)
- Boston Celtics (vs. Atlanta Hawks): Original spread -5 (-110), New spread: -1 (+235)
In this instance, the bettor would need the Clippers to lose by six points or less or win outright and the Celtics to win by one point or more for their bet to pay out. However, because the odds changed to +235, bettors would win $235 off a $100 stake.
Handy Tip:
Keep in mind that these odds are displayed as American odds. European spreads differ and are referred to as a handicap. If you’re interested to know more, you can learn more about handicap betting here.
How to Read Teaser Bets – Understanding the Odds
When wagering teaser bets, understanding the odds and how the lines work is essential if you want to place lucrative bets. Since there are two groups of figures involved in teaser bets, let’s break them down:
Say we have an NBA game between the Sacramento Kings and the Golden State Warriors, with the point spread as follows:
- Sacramento Kings: (+5.5) -105
- Golden State Warriors: (-5.5) -115
The first number next to the Sacramento Kings shows the point spread. This team, as the underdogs, must win outright or not lose by more than five points. If one of these two outcomes occurs and the bettor has backed this team, they will win their bet.
To calculate their winnings, the bettor would then look at the second number, which shows the odds. Here, the Kings have odds of -105. As a result, the bettor would need to put down $105 to win back $100. However, it is essential to note that bettors are not restricted to putting down exactly $105, this is a guideline given by the sportsbook which allows bettors to calculate how much their stake would return.
In contrast, the Golden State Warriors are the favorites to win, which means they would need to win by five points or more. Additionally, because they are the favorite, a bettor would need to stake $115 to win back $100. Again, bettors need not wager precisely $115, this is a guideline provided by the sportsbook to help bettors calculate their return on a wager.
Once bettors can understand how these lines work, it makes it simpler to see where they could benefit by adjusting the point spread betting with a teaser. For example, it may be easier to win a bet where the Kings lost by more than five points, in which case you would want to apply a four-point teaser to this line.
Handy Tip:
In an instance where both teams have negative odds, the team with the number farther from zero is considered the favorite.
What Do and – Mean in a Teaser Bet?
Sports betting odds are typically preceded by a plus (+) or minus (-) symbol. The plus sign indicates the underdog (the team or athlete least likely to win,) and the minus highlights the favorite (the team with the better chances of winning). However, it is essential to note that these symbols mean something different when placed next to the point spread or teaser bet.
In teaser betting, these signs represent the following:
- The Plus (+) indicates the underdog and that the team must either win outright or not lose by more points than the number placed next to the plus sign.
- The Minus (-) symbol indicates the favorite. Here, the team must win by more than the number next to the symbol. For example, a team with a line of 5.5 must win by more than six points for this to be the winning wager.
However, when placed next to the odds, the plus and minus symbols have different meanings. While they still highlight the underdog and the favorite, these symbols no longer show how a team must perform for a bettor to win their teaser but rather how much a bettor will win from this bet.
When reading the teaser odds, the plus and minus mean the following:
Say we have the following odds: either +136 or -155.
- The Plus (+) indicates the chances of this bet winning are unfavorable and that the bettor will win $136 back on a $100 wager.
- The Minus (-) shows a favorable bet, and the bettor must bet $155 to win back $100.
Handy Tip:
To learn more about the + and – in betting odds, read our article on plus and minus in betting.
Teaser Payouts
It is essential to remember that with each game a bettor adds to their teaser bet, the more the payout rises, but so does the risk. We highlight this in the table below, which shows payouts for different point movements when selecting a different number of games. However, keep in mind that payout values can shift from sportsbook to sportsbook.
| Teaser Size | 6-Point Odds | 6.5-Point Odds | 7-Point Odds |
| Two-Team Teaser | -110 | -120 | -135 |
| Three-Team Teaser | +160 | +140 | +120 |
| Four-Team Teaser | +265 | +240 | +215 |
Teasers that End in a Draw
If one of the bets in your teaser ends in a tie, it is removed from the bet, and the payout odds drop (for a three-team teaser or more). However, in a case where a bettor only has a two-team teaser, the entire bet is considered a push, and the sportsbook would return the bettor’s original stake to them.
What is a Reverse Teaser Bet / Pleaser?
While the best offshore sportsbooks and regulated betting sites allow bettors to buy points, they also allow bettors to sell points. In this case, a bettor combines two or more parlay legs where they “sell” six points to the bookie, and this is called a reverse teaser or a pleaser.
Because pleasers modify the point spreads and totals in a disadvantageous direction, the risk is much higher, but the potential payout is much higher too. As a result, pleasers are challenging to win, much like wagering on the underdog, and the best place to start with these is college games.
Handy Tip:
While bettors typically back the favorite, there are several reasons why they may back the underdog. To learn more about underdog betting, check out the article here.
Teaser Betting in Sport
When it comes to teaser sports betting, sportsbooks typically offer these lines for football and basketball. However, the teasers for these two sports differ. So, let’s take a closer look below:
Teaser Betting in Football
The best NFL betting sites offer bettors the opportunity to wager teaser bets on football games. When placing teaser bets on the NFL, bettors can enjoy a six-point or sometimes even a seven-point shift to their side of both spreads or totals. Bettors must pick two or more games for their football teaser; the more games they add, the greater the payout and the higher the risk.
Teaser Betting in Basketball
While football is the most popular sport for teaser bets, bettors can wager these lines on basketball too. As a result, the best NBA betting sites will offer teasers from four points to as many as six points on two or more basketball games. Again, the more games a bettor adds to their teaser, the higher the risk and the potential payout.
Teaser Betting Strategy
While many bettors see teasers as a “sucker bet,” when used properly with a teaser betting strategy, bettors can make a decent profit off these wagers. Below, we offer you several tips to help you make even more informed teaser bets.
Tip One: Do Your Research
Before choosing your teaser bets, take some time to do your research on the different teams. Look into their stats and how they fared against their upcoming opponent in the past. Researching elements like this can make it easier to see what spread is achievable and what poses a more lucrative bet. Generally, the best basketball sites offer the latest NBA stats.
Tip Two: Keep an Eye Out for Key Numbers
The scoring system used in football sees NFL games being decided by specific margins, namely, 3,6,7, and 10. Therefore, these are key numbers when it comes to football point spreads, and using a teaser to move through these numbers increases the chances of your bet covering the spread.
Tip Three: Take Note of Injuries and Lineup Changes
Football is a high-injury sport, with players taking on injuries and often having to sit out of games. Changes to the lineup like this could and will easily happen and can quickly affect the odds, along with which team is placed as the favorite, so keep informed and take some time before placing your bets too soon.
Tip Four: Stick with the Pros
While teaser betting is offered for college football and basketball, the volatility of these games makes it more challenging to make a profit off of teasers. However, because NFL and NBA offer more consistent results, we suggest sticking to these leagues when placing your teaser bets.
How to Place a Teaser Bet
Before bettors can wager their teaser bets they first must sign up with a sportsbook, create a profile, claim their welcome bonus, and deposit funds. We take you through this process in a few short steps in the guide below, so you can get to placing those bets sooner.
In our guide, we use BetOnline as an example. However, most sportsbooks provide a very similar registration process, so if you choose to use one of the BetOnline alternatives out there, these steps should help you too.
Step One – Register with BetOnline
Open the BetOnline website and click the green “Join” button on the homepage. Next, add your details on the registration form that opens, and come up with a username and password. Then, click “Create Account.”
Step Two – Get Verified
Once you’ve registered your account, BetOnline emails you a verification link which you must click to finalize the registration of your new profile. After you’ve done this, use your new credentials to sign back into BetOnline’s website.
Step Three – Make Your First Deposit
Next, you’ll need to deposit funds. So, click the blue “Banking” button on the homepage. Then, select your payment method from the dropdown menu on the cashier page and type in the amount you want to deposit. Your next step is to add your BetOnline promo code “BOL1000” in the promo code box provided. Only then should you click “Deposit Now” and follow the prompts to complete your deposit.
Step Four – Choose Your Sport
Click on the “Sports” tab on the BetOnline homepage. Then, select the football tab to find the games you want to place your teasers on.
Step Five – Place Your Wager
Once you have selected the games, click on the spread line betting option for the teams you want to back to populate your bet slip with the relevant details. Next, select the teaser option on the bet slip and choose your points. Then, add the amount you wish to wager onto your bet slip. Then, click “place bet,” and you’re done!
The Pros and Cons of Teaser Sports Betting
Teaser bets offer bettors a unique way to shift the points on a spread to wager a more lucrative bet. However, while these wagers seem like they offer more benefits than any other line, they do have several shortfalls. So, let’s review the pros and cons of this betting line :
Pros:
- Provides an easier way for bettors to make winning bets
- Can be used in live betting
- Offers more of a risk but much higher payouts
- You can shift the odds to your advantage
Cons:
- Since they work like parlays, they can still be tricky to win
- New bettors may find these lines confusing
Teaser Betting Conclusion
Teaser bets offer bettors a unique variation on the parlay, which allows them to shift the point spread in their favor. However, because these wagers require bettors to win each leg that makes their bet to earn a payout, they can be risky, which means keeping these bets small to start is the best way to go.
