What Is a Teaser and How to Bet Them
Teasers Can be Profitable if You Follow Rules
Teaser bets are a different breed and can be very profitable. Teasing a bet is essentially a type of parlay bet. Parlay bets are those where the bettor must choose and correctly predict more than one outcome in order for a bet to pay out.
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When you place a bet on the moneyline or against the spread on a certain sporting event, you are betting on a single outcome. If your moneyline pick wins, you win your bet. If you bet on the favorite to cover the spread and they do, your bet pays out.
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As with traditional parlay bets, all the legs of a teaser must hit in order for the bet to cash. The idea of a teaser bet is that the bettor adjusts the line – i.e. “teases” the line – to give himself a better chance of winning. The “tease,” or adjustment comes at a cost in the form of reduced odds.
How A Teaser Bet Works
One of the most common teaser bets is the NFL two-team, six-point teaser. We’ll use that as an example.
Seattle (-6.5) @ Miami
Indianapolis @ Chicago (+2.5)
If you like Seattle to cover on the road at Miami, you can tease the spread down to -0.5. If the Seahawks win by one or more points, that leg of the teaser wins.
As a home underdog, you like the Bears to cover but with the teaser up to +8.5. If the Bears win or lose by eight or fewer points, this leg of the teaser wins.
If both bets are winners, your bet cashes. The difference, of course, is that the payout on the teaser is less than single bets on each individual game.
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Teaser Strategy
To understand betting strategy of teasing a bet, it pays to know a little bit about what you are betting on. We’ll stick with the NFL as it and the NBA are the two sports that see the most teaser bets.
Knowing that the most common victory margins in NFL games are 3 and 7, you should tease in an effort to cross those two numbers. For example, a 2.0-point underdog can be teased to +8.0. If the game ends with the common 3- or 7-point margin, the bet is a winner.
It also helps to know that the next two most common victory margins in NFL games are 3 and 4. Again, teasing an underdog from +2.0 to +8.0 crosses those numbers as well.
Most handicappers will recommend that you do not cross zero on a tease. The reasoning is that you will not capture enough of the more common victory margins. For example, if you take a -2.0-point favorite and tease six points to a +4.0-point underdog the only common margin of victory included is 3.0.
An integral part of any teaser betting strategy is simply shopping for the best lines. If you were betting on individual sides, you would shop for the best lines. Why not do the same with teaser bets?
Bettors will take the same two-team, six-point NFL teaser at -110 odds at one online sportsbook over the exact teaser at another book offering -120 odds.