Teasers are one of the more advanced wager types, but are very easy to understand. They are worth getting to know because they give you the opportunity to lower your risk while still providing you with a good return on investment. In this article I will explain what a teaser bet is, the value they provide and why I like betting teasers.
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If you are reading this article about teasers, I am going to assume you know about betting odds and how they work. Knowing about point spreads and totals is a must because you will need to know about them if you are going to fully understand teasers. If not, take a look at our articles on any of those topics.
A teaser is a basically a parlay in that they contain more than one side in a single bet. Like a parlay, all parts of a teaser need to be correct in order to win that wager. With teasers, you are able to move the spread or total line in your favor, giving you a better chance of winning your bet.
These line movements do come at a price, so you are essentially buying points. Teasers will include anywhere from 2 to 10 teams.
Most online sportsbook will offer three different teaser options, 6, 6.5 and 7-point teasers for football and 4, 4.5 and 5-point teasers for basketball. Payouts will vary from shop to shop, but in general, the more you move the line or spread, the lower your payout will be. The more points you buy, the more it will cost you.
Let’s look at an example of the difference between a three-team parlay and a three-team teaser.
Carolina Panthers +6-100
LA Chargers -7-115
Risking $100 to win $573
Three-Team Teaser (7-point)
Carolina Panthers +13-100
LA Chargers PK-115
Risking $100 to win $150
As you can see by this example, the payout drops from $573 for winning the parlay to $150 to win the teaser. However, those 7 points you bought takes the Panthers from +6 to +13, the Chargers down to PK from -7 and gives you 7 extra points on the total in the UNDER wager in Eagles vs. Bucs game.
If you were already somewhat confident in the outcome of the original odds, buying 7 points can be a way to really assure a winning wager.
It works the same way with all different teaser amounts and in all sports, moving the spread and total depending on which side and/or total you choose.
The reason I like playing teasers the most is although you have to pay to move the line in your favor, if there is some uncertainty in the outcome of a game, paying a few bucks to move the line a full 7 points in my favor is worth it. Would you rather lose by a point or win by 5 or 6?
There have been many parlays I was considering betting, but ended up going back and playing a teaser instead, only to realize when the games are over that if I had went with the parlay I would have lost, but ended up winning my teaser. Wouldn’t you prefer to win $150 as opposed to losing $100?
As you can see there is an added element of cost when playing teasers, because you are paying more to minimize risk to win between a 3-team teaser and a 3-team parlay. That extra security I get from moving the line in my favor is more than worth it, and in the end, if you use your betting budget in the right way, it will provide great value at the end of the year.