What is a Teaser Bet?
If you've used a sportsbook before, you have likely seen the option to turn a bet into a teaser bet. However, if you've never placed a teaser bet before or you're new to sports betting, you may be a little unsure as to what this means.
And that's ok, there are lots of oddly-named concepts and practices in the sports betting world. Thankfully, teasers are actually much easier to understand than you might think.
And once you've got to grips with them, you'll see that they can be useful tools for when you want to change the odds of a wager you're making .
If you're looking to learn more about teaser bets, how they work, and how to place them, you're in the right place. Below is our guide to teaser bets.
How Does A Teaser Bet Work?
Teaser bets are a form of exotic bet that can be placed on football and basketball games, allowing you to move the line higher or lower. Like a parlay, a teaser is placed on two or more games together, requiring you to win each individual wager in order to receive the payout.
By moving the line higher or lower, you change the odds of the bet. This is usually done in your favor, lowering the potential payout of the bet but increasing the likelihood that it will payout.
Because of this, sportsbooks will sometimes limit the amount you can wager on teasers during major tournaments and championship games to limit how much they have to payout.
Teasers are a little different in football and basketball, so let's look at both individually.
Teaser Bets in Football
While it varies from sportsbook to sportsbook, most football teasers can be used to move the line 6, 6.5, or 7 points, either making the favorite line lower or the underdog higher. This means you can change spread by the value of a touchdown (or more). Using week 1 of the 2020 NFL season as an example:
- Baltimore Ravens -7.5 vs Cleveland Browns
- New England Patriots -7.5 vs Miami Dolphins
If you like the Ravens and Patriots in both of these games, you may want to make the margin of victory smaller to be less than a single safety. So in this case, a 6 point teaser would bring the line to just -1.5, making it much easier to win the bet.
However, the odds would be reduced to around -130, with the odds worsening the more you move the line by. Teasers in football are very popular because they can move the line by a lot and can help experienced bettors get a lot of value from their wagers.
Teaser Bets in Basketball
Teaser bets work similarly in basketball, but you can't move the line by quite as much. Usually, sportsbooks will give you the option of teasing by 4, 4.5 or 5 points.
The fact that basketball games typically resort in far more points being scored per game than in football and that teasers are smaller, they offer less value to bettors and are, therefore, not as popular.
Teaser vs. Parlay: What's the difference?
Teaser bets are very similar to parlay bets. In fact, teasers are just parlays but with modified point spreads and odds. Everything else remains the same.
They both let you combine multiple wagers into a single bet, and will both only payout if all of the individual bets win. Even if five of your games have won in a 6-way parlay or teaser and the final one loses, you won’t receive a payout.
Teasers will have lower payouts than traditional parlays because they are more likely to win. Therefore, the bettor has a choice between risk and reward when they decide whether to place a standard parlay or a teaser bet.
If you'd like to see how the odds of a standard parlay can change as you add in extra wagers, check out our parlay calculator.
Why Are Teaser Bets Popular?
Teaser bets are popular because they allow bettors to move the line in their favor, increasing the chances that they'll win and receive a payout. This increased chance of winning means that teaser bet payouts are usually lower than standard parlays.
This is especially true in football where bettors can move the line by the most common margin of victory.
Can I place a teaser bet on an online sportsbook?
Yes. Just about every sportsbook offers teaser bets and placing them is easy. It's usually just the case of selecting the wagers you want to make and then clicking on the "teaser" button. You'll then be given the option of how much you want to move the line by and how much you want to bet.
However, it's important to remember that not all sportsbooks offer the same odds, so you could get a better return by comparing multiple bookies. At OddsChecker, we make this easy. Just head to our football odds or basketball odds sections, choose the bets you want to make and we'll show you the odds offered by all of the leading sportsbooks.
You can get even more value from your teasers by using the free bets offered by most bookies. Our team has scoured the net to find all the best free and risk-free bets in your state. Just head to our free bets section to find the promotion that's best for you and follow the instructions to redeem it.
If you're looking for inspiration for your next teaser, be sure to check out our latest picks.
What sports can I wager teaser bets on?
Unlike parlays, which can be placed on just about every sport, teaser bets are only available on a few sports, namely football and basketball. This is because these are sports where a lot of points can be scored in a single game. For example, most NFL games see 40+ points scored between both teams, while in the NBA that number is over 200.
In football, you can usually move the line by 6, 6.5, or 7 points, while in basketball, you can usually tease the spread by 4, 4.5, or 5 points. Using week 2 of the 2020 NFL season as an example:
- Baltimore Ravens -7.5 vs Houston Texans
- Kansas City Chiefs -8.5 vs LA Chargers
Moving the spread +6 would give you updated odds of -1.5 and -2.5 respectively, making both wagers easier to win.
Teasers can be placed on spread and totals bets, though you can't include moneyline. Some sportsbooks will also require you to include at least three individual wagers within a teaser, while others will allow just two.