Teaser Betting

Teaser betting is a form of gambling that acts as somewhat of a hybrid of parlay wagering and spread betting or over/under totals bets. However, there’s an extra twist that leads to the namesake of this particular bet type.

What is a Teaser Bet?

When putting together a teaser bet, you’re still picking teams to beat the spread (or an over/under total). However, the sportsbook will “tease” the point spread or total in your favor by a set number of points across multiple games, increasing your likelihood of a payout.

As with traditional parlays, all legs of your teaser bet must hit for your wager to result in a payout. The most common option is a two-team teaser, though you’re welcome to include more teams if you see fit.

Teasers are most commonly available for basketball and football betting and are usually centered around point spreads. As such, this guide to teaser betting will use language that primarily focuses on those two sports and on spreads instead of totals wagering.

How Teaser Bets Work

Teaser bets work similarly to a parlay of spread bet wagers. You’ll still pick teams to play against the spread to add to your betting slip.

Let’s use an example from Week Four of the 2024 NFL Season. We’ll pick the Miami Dolphins with the +1.5 spread against the Tennessee Titans and the Los Angeles Chargers at +8.5 against the Kansas City Chiefs.

A $10 parlay wager on these two teams to beat the spread has odds of +240, meaning you would win $24.02 if both teams managed to beat their respective spreads.

However, if you wanted to pick those same two teams (the Dolphins and Chargers) in a 6-point teaser parlay, your new odds and payout would look like this:

By giving each team an extra six points in their favor on the spread, you’re now getting Miami +7.5 against the spread (instead of +1.5). Similarly, you’ve also moved the Chargers’ line from +8.5 to +14.5.

However, you’ll notice the payout amount went down to a $7.50 win instead of the $24.02 win before. This is because you effectively “bought” six additional points in your teams’ favor, increasing your likelihood of winning both legs.

If one of the legs of your teaser results in a “push” (tie), that leg is simply dropped from the wager, the same as it would’ve been for a standard parlay. If you only made a two-leg teaser, your stake will be returned to you and the bet will be voided.

As you’ll see in the next section, you can also tease the line in the opposite direction, increasing your potential payouts with a more challenging parlay.

Types of Teaser Bets

As alluded to above, there are multiple types of teaser bets: standard teasers, super/monster teasers, and reverse teasers (also called “pleasers”). Below are a few more details about each type of teaser market.

• Standard Teasers: The example we showcased above is a Standard Teaser, where you’re getting extra points in your favor to increase your winning likelihood at the cost of a lower maximum payout. Depending on the sport you’re betting, you’ll be able to “tease” the spreads by a set number of points on each line. For football, these are most often 6-point, 6.5-point, and 7-point teasers; basketball most often allows you to tease by 4 points, 4.5 points, and 5 points.
• Super Teasers (or Monster Teasers): Super Teasers (also called “Monster Teasers”) increase the amount of points in your favor even more, now allowing you to buy 10 points or more, but with your maximum payout reduced even more given the line shift. Super teasers are somewhat rare at U.S. sportsbooks, especially compared to the other two markets on this list.
• Reverse Teasers (Pleaser Bets): Reverse teasers, or “Pleaser bets,” are the most aggressive bet type on this list, working in the opposite direction as a standard teaser. Instead of the sportsbook giving you the extra points, you’re instead giving them back to the bookie for a chance at a higher payout. Earlier, we showed you the odds for the standard teaser (-134) and a traditional parlay (+240). If you instead gave the sportsbook those six points, you’d now be taking Miami to win and cover a 4.5-point spread, along with the Chargers to keep things close with a 2.5-point spread. These new selections would result in +700 odds, meaning your same $10 stake would win you $70 on a pleaser wager.

Teaser Betting Odds and Payouts

Teaser betting odds are calculated differently than standard parlays because you’re adjusting the lines in your favor. Your odds will still multiply for each team you add to the teaser, but with the odds reduction, a three-leg, six-point NFL teaser is still unlikely to pay out as much as a two-leg spread bet parlay.

Spread odds are usually set to -110 odds on either side when the markets open with mild adjustments to the odds based on the betting action. However, sportsbooks will typically standardize the odds based on the number of teams you include (for example, on a six-point teaser, all lines may carry odds of -120 instead, so the vig is higher for the sportsbook).

Additionally, some sportsbooks will adjust this percentage even more depending on the spread before you tease the line. As an example, it would be more favorable for you to go from +2.5 to +8.5 than it would if you were moving from +8.5 to +14.5, so teasing that first line might receive an even larger maximum payout deduction.

Teaser Betting Strategies

When you’re making your teaser bets, we hope you’ll keep these strategies in mind.

• Don’t tease through zero when teasing spreads: Teasing through zero means you’re turning a favorite into an underdog (for example, going from a team at -4.5 on the spread to +1.5 on a six-point teaser is a bad strategy). This is unfavorable because games can’t end in a tie, so you’re effectively giving up one of the “points” you’re buying.
• Target key numbers: Especially for NFL spread betting, targeting around key numbers (3, 6, 7, and 10) is important because of the way points are scored. Trying to tease your spread totals around these numbers will leave you in a better position to make a winning wager.
• Tease totals with lower projections: When teasing over/under wagers, games with lower point total projections are prime targets. This is because your points are, in effect, “worth more,” as the points you’re buying will have a bigger impact overall than in a high-scoring affair.

Generally speaking, NFL spread betting is the best option for a teaser wager. College football spreads and basketball wagers have higher volatility, so the non-NFL market will have a higher degree of risk.

Conclusion

Teaser betting can be a difficult concept to apply, but hopefully, this guide has cleared up any confusion you may have been experiencing. Remember to start with smaller wagers when making your first few teaser bets so you can better position yourself to adjust strategies as you go.

If we didn’t sell you on teaser betting, maybe you’ll want to buy in on another betting type? We’ve prepared a detailed list of sports betting market guides to help new and experienced bettors alike learn more about various bet types and set themselves up for more consistent gambling wins.

FAQ

Can I place a teaser bet on live games?

No, teaser bets cannot be placed on live games. Instead, you would need to parlay your wager based on the active spread total or remove that game from your teaser selection.

What is a super teaser and how does it work?

A super teaser works by adding even more points in your favor than a standard teaser bet would’ve. Typically, this would mean a 10-point tease (or more) instead of the standard 6-point, 6.5-point, or 7-point teaser for NFL spread betting markets. However, the maximum potential payout is also reduced to offset your increased chances of winning.

How does a teaser bet impact the house edge?

A teaser bet impacts the house edge by increasing the vig. This means the sportsbook will take a larger amount of the juice for a winning wager than they would for a standard spread bet, lowering the maximum payout amount.