The point spreads and/or totals on a teaser can be adjusted to the bettor’s advantage, but the payout is lowered because the bet involves a mixture of two or more wagers. The point spread can be changed by lowering the favorite’s number or raising the underdog’s, and the over/under can be changed by increasing or decreasing the number. Like parlays, a teaser wager requires a successful outcome for each individual wager.
The NFL and NBA are the most popular places to place teaser bets. Teasers in basketball award 4–5 points to players, whereas those in football award 6–7 points. In most cases, the amount of points awarded is proportional to the inverse of the number of wagers placed. Typically, ten bets are placed on a single teaser. Here we show how to use the player’s points in conjunction with point spreads and/or totals.
Let’s use point spreads as an illustration.
First game: Denver Broncos versus New England Patriots (-2) (Over/Under: 53)
San Francisco 49ers at Seattle Seahawks (-7) (Over/Under: 44)
A teaser can be utilized in place of a parlay if you think the Broncos and Seahawks will both cover their spreads but still need some insurance. If you bet a 6-point teaser, the new spreads are Broncos (+4) and Seahawks (-1), respectively (-2 + 6 and -7 + 6). In this scenario, the Broncos wouldn’t even need to win; a loss by a field goal would suffice. The teaser would pay off for you if the Seahawks went on to win by more than a touchdown.
Teaser wagers on the total (over/under) are also available. Continuing with the same two games, let’s say you’re interested in betting on the over for the Broncos game and the under for the Seahawks game. For example, if you bet a 6-point teaser on the aforementioned lines, the over bet on the Broncos game would move from 53 to 47 [53 – 6] and the under bet on the Seahawks game would move from 44 to 50 [44 + 6] in your favor. To win your teaser wager, both the Broncos and Patriots would need to score more than 47 points (instead of 53) and the Seahawks and 49ers would need to score less than 50 points (instead of 44).
You can wager on a teaser that combines the point spread with over/under. This buys us some time, but at the cost of a far smaller payoff. The cost-benefit ratio shifts from sportsbook to sportsbook.
Payouts for Teasers
When the point spread or totals are changed, the payout is reduced. The sportsbook sets the exact teaser payout schedule based on the number of teams wagered and the amount of points bought.
These are standard rewards, however online sportsbooks often use the payouts from a teaser ticket based on the amount of games or teams you select. Ticket rewards may differ from those shown in the table above.
Do Teasers Have Any Value?
The principle of risk vs reward is relevant to every part of gaming. The amount you stand to gain or lose determines whether or not you should try to increase your chances of winning. It would be better to continue with the original wager rather than reduce your risk by 10% if the payoff was reduced by 50%, for instance. Here’s our strategy for teaser bets: Are we willing to take less of a chance for less of a payoff?
A 6-point teaser might pay 10/12, whereas a parlay wager covering the spread and total from the previous example might pay 2.6/1. This means that if you bet $10 on a teaser, you will win $8.33 instead of $26. Even though your spreads are better, your prospective profits are much smaller now.
It’s tough to know if a teaser bet is a good idea because of how situational it is. The industry of sports betting is constantly evolving. It’s susceptible to sudden shifts in almost limitless variables, and evaluating the effectiveness of a teaser campaign requires contextual knowledge. The majority of bettors will only engage in teaser wagering under optimal conditions. If a bettor is hesitant to place a parlay because of the sportsbook’s point spread or totals, a teaser bet could be a good compromise. However, teases rarely help your case.