Are teasers good bets? Here’s everything you need to know about teaser bets and how you can take advantage of them in your own betting strategy.
Are teasers good bets? How can you use teasers to your advantage in different sports? Should you be including teasers in your betting strategy? We’ll cover all of this and more here in our extensive teaser betting guide.
What is a Teaser Bet?
Before going into more detail on teasers, it is important first to understand what is a teaser bet. Simply put, a teaser bet is a parlay bet that uses modified point spreads.
Teaser bets are probably most common in College Football, NFL, NBA and College Basketball betting. Just like a parlay bet, all legs of the teaser bet must win for you to win your bet. Bettors must choose a minimum of two legs in their teaser – these can be teams or totals.
Let’s look at a typical 6-point three team NFL teaser bet example to explain how a teaser works. This week, you like Chiefs -9, Eagles -7 and Jets +7. Instead of betting these three teams outright or in a parlay, your 6-point three team NFL teaser would become Chiefs -3, Eagles -1 and Jets +1.
To win the bet, you’ll need all three teams to cover the modified spread. At most online sportsbooks, a winning three teamer pays 1.8 to 1 (or +180).
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Why Are Teasers Good Bets?
Teasers are good bets in situations where games are very close to call. For example, let’s say the Kansas City Chiefs are playing the San Francisco 49ers and the Chiefs are slim 3-point favorites. The game is expected to be a close one and many are struggling to predict the outcome.
This is where a teaser bet would be perfect. If you are unsure yourself of the outcome then you can apply a 6-point tease to the line, making San Francisco +9 seem a much more achievable and safe betting option.
You have to take into consideration that by modifying the spread of the game you will win less, but it’s definitely worth it in this scenario to give yourself a safety cushion.
Why Are Teasers Bad Bets?
While teasers are good bets for those games where it’s often too close to call, there are a few reasons why teasers could be considered bad bets.
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The numbers don’t work in your favor
Similar to normal parlay bets, the odds of teaser bets are tipped ever so slightly in the house’s favor.
A normal leg in parlay is often priced at -110 odds and means you need to win roughly 53% of the time to be profitable. When it comes to teasers, you need to win each game 73% of the time in order to make a profit.
Obviously, with the modified point spread in your favor in teaser bets you therefore have a higher chance of your bet winning. However, this doesn’t necessarily mean you are being compensated for your risk.
There are better options available
The legal US sportsbooks offer so many different betting options nowadays. If you are willing to take a slightly riskier approach to betting, then why not bet on the moneyline underdogs rather than an alternative point spread in a teaser? The added risk is certainly there, but the profit potential is considerably higher and outweighs the added risk in most instances.
Similarly, the normal point spread presents higher reward for your risk. You should always consider the point spread set by the sportsbook before building your own teaser bet.
Think about why teasers are being offered
Just like sportsbooks set their odds with some knowledge of public bias, they also create betting options with the same idea in mind.
Teasers and parlays definitely fall into this category. The sportsbooks know that by offering teasers they will entice bettors who are looking for those ‘easy wins’. However, there is no such thing as an easy win in betting and in most instances the sportsbook will come out on top.
Are Teasers Better than Parlays?
The answer is that it depends on the bet you are making. Sometimes, a teaser bet will modify the point spread to very close to the moneyline. For example, Jets +7 and Chiefs -7 would become Jets +1 and Chiefs -1.
In the example above, it is usually better value to tease rather than to bet on the two moneylines. Our advice here is to check the return on your teaser bet compared to your parlay bet and assess the risk associated with each before choosing which to wager on.
It goes without saying that teaser bets are definitely better for those who care more about a safety net than their profit potential. A teaser bet is always safer than a parlay bet which includes point spreads.
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Teaser Bet Rules
A teaser bet is effectively a modified parlay bet, so teaser bet rules require the bet to be a minimum of two legs. Most sportsbooks allow up to eight legs for teaser bets, sometimes more.
The rest of the rules associated with your teaser bet are up to you. It’s your call on how many points you wish to add to each side or how many points you wish to add or subtract from the predetermined totals.
Teaser Bet Payouts
Teaser bet payouts depend on the number of legs in your teaser bet and the number of points you have chosen.
The payouts for teasers will obviously vary depending on the sportsbook you are betting at, but these examples provide a good guide for teaser bet payouts.
Football Teaser Bet Payouts:
Basketball Teaser Bet Payouts:
Above is a good example of a teaser bet calculator in terms of payout odds for different types of alternative point spread. As you can see, Football teaser bets often have higher alternative point spreads compared to Basketball teaser bets.
What is a Teaser Bet in Football?
As already explained, a teaser bet is a popular method of betting in the Football world. Bettors can alter the point spread of any games or can alter the point totals that have been pre-set by the sportsbooks.
Teaser bets are very popular in both NFL and College Football.
Betting teasers in College Basketball
Betting markets for College Basketball, and NBA for that matter, are very similar to betting markets for NFL and College Football.
As a result, teasers are pretty popular among Basketball bettors for all of the reasons mentioned above. Teasers sometimes offer a better alternative to betting on moneyline underdogs and can also provide a safety cushion for those more reserved bettors.
Where to Bet on Teasers:
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