Teaser Bets in Sports: How They Work and When to Use Them

Wouldn’t it be cool if you could change the odds of a game in your favor to increase your chance of having a successful outcome? That doesn’t sound like something sportsbooks would do, right?

Well, in fact, teaser betting is a popular type of sporting event wager that could offer a better chance of winning.

But (and there’s always a but) you have to pay to adjust the odds, and similar to a parlay, multiple bets must be included on the same ticket and all must win.

Understanding Teaser Bets

Teasers are just like parlays in that two or more bets must be included in a single wager. The difference is that bettors can buy points to shift, or tease, the point spread or game total in their favor.

There are obvious benefits to this: most notably, a greater chance of winning the bet.

Yet, since the odds are moving in your favor, the payout on a potential win becomes smaller. And like a parlay, the chances of hitting a multi-wager teaser also decrease with more bets added to the ticket.

The most common teaser is a two-team, six-point football bet, where the spread and/or total is adjusted from the posted line.

Teasers are most commonly used when betting on football and can involve more bets and points; however, adding to both categories makes it less likely that you win the bet.

Mechanics of a Teaser Bet

Any bettor would agree that shifting odds in your favor is a good thing. And usually it is.

But when it comes to teaser betting, throwing down on just any team isn’t the most ideal approach. Sportsbooks don’t give money away. It's called "gambling" and not "winning" for a reason.

Teasers are structured to lose, and in the long run, playing them is not a profitable strategy. Yet, by studying odds and researching teams, teaser betting can pay out in the short term.

Line Movement in Your Favor

We can’t shift moneyline odds, at least not yet, leaving point spreads and totals on the table. So, how exactly is that done?

The standard number of points you can buy is six, with the price adjusted for more or fewer points. Moving the total higher in a game you think has value on the UNDER is a smart play.

Also, say the Cowboys are an 8.5-point favorite in their game, but that’s too high for your liking. Teasing the line in your favor, six points to -2.5 makes more sense. The Cowboys can win the bet and the game by a field goal, where it would’ve been a loss with the original spread.

Payout Calculations

Several factors are used to determine the price and potential payout on a teaser bet.

Those factors include which sport you’re betting on, the number of points you’re buying, and the number of individual bets included on your multi-team teaser.

Each sportsbook is different, and they all have their own rules when it comes to teaser betting.

The more bets on a single ticket increase the potential payout, but more games mean a bigger risk of losing the entire stake since all legs of a teaser have to win in order for the ticket to be graded a winner.

Teaser Bet Example

To people not familiar with teaser betting, the method can appear complicated. It really isn’t, though, and an example will help make the practice more relatable.

Since the most common teaser is six points in a football game, we’ll use the following NFL matchups to build a two-team teaser.

If you like the Cowboys but aren’t thrilled about laying 7.5 points, you can tease the spread to a more comfortable number. Since you’re getting six points, the spread becomes -1.5. Also, you like the Rams, but getting 2.5 points makes you nervous. Tease that line to Rams +8.5 and you’ll feel more confident.

Why Bettors Use Teasers

Like a menu at your favorite restaurant, sports wagering offers plenty of options. Teasers aren’t for everyone, but they exist for a reason.

There are several incentives for bettors to use teasers, with the most obvious being a change in the spread or total to enhance the chances of winning. For that reason, teaser betting has less risk than traditional spread/total wagers.

There is also the potential for a hefty payout if all legs of the bet hit; however, combining multiple bets on one ticket and needing them all to hit to cash out decreases the odds of winning.

Ideal for Tight Matchups

Games that are expected to be close are ideal for teaser betting since the line can be shifted.

NFL games are often decided by seven or fewer points, so a touchdown change in the spread or total is a big deal.

Of course, that doesn’t take into account the unpredictability and volatility of games, but games that are expected to be tight should be considered.

More caution should be used when teasing college football odds since there is more variance. There is more parity and consistent results in the professional game, which also makes it easier to identify value picks.

Strategies for Smarter Teaser Betting

Since you have around six points in your pocket to use, that doesn’t mean you put them down on just any matchup.

Like any form of sports betting, there are certain strategies to use when teaser betting that can boost your chances of cashing a winning ticket. They don’t guarantee success at the betting window, but adhering to these rules improves your chances of winning.

Pick the Right Number of Legs

Teaser bets are a type of parlay that is easier to win by purchasing points. In exchange, the bettor has to play at least two games, with all of them hitting to be considered a winner.

Making more individual bets on a single teaser only increases the likelihood of losing, which is why limiting the number to two or three is the best strategy.

Sure, the payout isn’t as large, but the odds of winning are better. The probability of a negative result only increases with more games added to the teaser bet.

Tease Through the Right Numbers

In the NFL, there are key numbers for point spreads to focus on when teaser betting.

Because of how points are accumulated, the two most common margins are three points and seven points, making those the key numbers.

To take full advantage of their points purchase, bettors should ideally move off and through the key numbers for a greater chance at covering the spread.

Crossing the number zero is often frowned upon since NFL games rarely end in a tie, and you are essentially giving a point away when doing that; however, there are cases where moving from a slight favorite to a slight underdog has proven successful.