What is a Teaser Bet?


What is a Teaser Bet
Info Details
Definition Bettors bet on the spread or total for multiple matchups. Bettors take additional points from the sportsbook in their favor. The bet is more likely to win in exchange for a reduced payout.
Bet Type Exotic
Odds See the matchup’s spread and total. Consider number of teaser points the sportsbook offers.
Sportsbooks All USA Sportsbooks
Example Bettor takes the 7 point favorite Patriots and 6 point favorite Steelers. Bettor takes 5 point teaser. Bettor’s spread moves 5 points in his favor. Now the Patriots must win by 2 (7 – 5 point teaser) and the Steelers by 1 (6 – 5 point teaser).
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The sportsbook Teaser Bet has some mystery to it that sometimes is confusing and intimidating. Put your mind at ease because we’re going to explain the Teaser Bet in a 3 step process. It’s better to break the Teaser Bet down into smaller pieces. Then think of it as a modified parlay bet.

Total Teaser Bet Example: Celtics vs. Bulls Total 155, Knicks vs. Cavaliers Total 170

Step 1 – Choose Over or Under for each matchup. Pick the most likely outcome. We choose Celtics vs. Bulls Over 155, Knicks vs. Cavaliers Under 170.

Step 2 – Take the Teaser Points. Sportsbooks will offer different Teaser amounts. 5-7 points is most common. We choose 6 points.

Step 3 – Winning the bet is now easier. The 6 points move the totals in our favor. Now the Celtics/Bulls Over 155 becomes 149 (155 – 6 point teaser). The Knicks/Cavaliers Under 170 becomes 176 (170 + 6 point teaser). The Over bet is easier to win with a lower point total. The Under bet is easier to win with a higher point total.

Final Payout: Winning teaser bets will payout lower in exchange for more favorable spreads or totals. The final amount will be less than a 2 team parlay without the 6 point teaser.

Teasers are essentially modified Parlay Bets. Players buying points from the sportsbook to tease the odds in their favor accept a smaller payout.

The Teaser Bet can be profitable if you “Tease” your odds by the right amount, without making the bet too easy to win. Easy winners pay less than higher risk bets.

Consider Teaser Bets in place of standard parlays. Teasers make more sense if a parlay is too risky AND buying points would put the odds more in your favor. On the flip side, a Teaser wouldn’t be a good idea if you’re very sure that a regular parlay bet would win. All else equal, a winning parlay bets will pay more than making the same wager as a teaser.

It’s all about tradeoffs with Teaser Bets. If you manage your risk carefully, you can diffuse the sportsbook’s edge and still collect a nice payout.

See Also
What is a Over Under Total Bet?
What is Spread Betting?