Everything you need to know about teaser betting and how to calculate your potential winnings using a teaser calculator at the legal online sportsbooks.
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Before diving into the benefits of using a teaser calculator, it is important to explain what teaser bets are.
Teaser betting is essentially a special form of parlay betting. Teasers allow you to combine multiple point spreads together into a parlay, but also give you the ability to ‘buy’ points for the spread. In other words, the spread will change by a specific number of points in your favor.
So, let’s look at an example. Let’s say you are interested in placing a 6-point NFL teaser bet based on these three legs:
- Steelers +5 (vs. Ravens)
- Packers -3.5 (vs. Lions)
- Cardinals -7 (vs. Seahawks)
In a three-team, 6-point teaser, you would be given an extra three points in your favor for each leg. This means that Pittsburgh would need to not lose by more than 11 points, Green Bay would need to avoid defeat by no more than 3 points, and Arizona would need to win by just two points or more. Your new teaser bet would look like this:
- Steelers +11
- Packers +3.5
- Cardinals -1
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You can see why teaser betting can be popular. You are effectively ‘buying’ yourself added points in your parlay, which increases your chances of winning. However, as expected, your win return is slightly smaller than a standard parlay bet.
Are teasers good bets?
Generally, teasers are good bets if you are looking for a middle-ground between a bunch of straight bets and a standard parlay bet.
Teasers offer you an alternative to the standard parlay, by giving you lower odds on a more likely set of outcomes.
Because so many NFL games end with margins of victory between 1 and 7, NFL teasers can be very profitable. However, teaser betting in College Football has been criticized due to the unpredictability and volatility of games.
Assuming you are betting it at -120 odds per leg, you must win each leg 74% of the time to break even on six point teasers. So, it’s up to you whether you think you can match that 74% success rate on picks!
What is a teaser calculator?
A teaser bet calculator allows you to calculate the odds of your teaser bet automatically, with the click of a button.
The biggest online sportsbooks in America have teaser calculators built into their websites and apps. This gives you, as a sports bettor, more options in addition to same game parlays and other exciting betting types. With the previous teaser example in mind, let’s take a look at how to place a teaser bet.
At DraftKings Sportsbook, you simply make your selections and DraftKings will give you the teaser bet option. Here’s how it looks on desktop:
Then, simply scroll down to see your NFL teaser calculator. DraftKings will calculate your teaser odds based on how many points you are willing to ‘buy’. The sportsbook offers options from 6 point teaser calculator to 10 point teaser calculator.
As you can see, the 6-point teaser we have chosen comes in at odds of +160. A $50 bet would return $130 if it wins.
It’s not only NFL-specific ones that are available at the legal online sportsbooks. There is an NBA teaser calculator, an NHL teaser calculator, a soccer teaser calculator, and more!
A teaser calculator can also be referred to as a teaser parlay calculator, as it is simply an alternative form of a parlay bet.
Where can I place a teaser bet?
You can place a teaser bet on a number of sports at the following legal online sportsbooks. Feel free to claim their generous welcome offers too: