Sports Betting | What is a Teaser Bet?

A "Teaser Bet" is a modified Parlay Bet, meant to reduce risk to the player by offering the opportunity to bet on point spreads and/or game point totals. The spreads or totals are adjusted, or "teased" to give the player a better chance of winning, but at reduced odds. Teasers are generally only offered on Football and Basketball.

Teaser bets may seem a little complicated at first, but the best thing to do is break them down into individual smaller bets, and THEN look at it as one whole bet, like a parlay.

For example, let's suppose the Red Skins are playing the Raiders. The teaser bet allows the player to wager on the spread and/or point total, so we'll first use the point spread for our matchup:

Step 1 - The Spread - Player selects Red Skins to win at +12.0 points, which means the Red Skins must either beat the Raiders, or not lose by more than 12 points.

Now, for Step 2, we'll assume the player bets on the game total, using the "under" option.

Step 2 - The Total - Player selects the game total points ( The final combination of points scored by both the Red Skins and Raiders) to be 50 or under.

Therefore, for this bet to win, the Red Skins must win outright, or not lose by more than 12 points AND the total points scored in the game must be 50 or under.

So far, this looks like a parlay bet, but now we'll add the Teaser bet factor in, which will increase the bettor's odds of winning, but will also mean a decreased payout.

Step 3 - The Teaser Points - The player is offered 7, 8, or 9 point teaser on the bet. The player selects an 8 point teaser, which means that 8 additional points are added to the spread from Step 1: 12 + 8 = 20 point Spread, and 8 points are added to the total from Step 2: 50 + 8 = 58 point total - or under.

Result: Now, for this Teaser bet to win, the Red Skins must either win or not lose by more than 20 points AND the game point total must be 58 points or under.

As you can see, it's best to think of teasers in pieces, and base your wagering decisions on each part of the bet. Remember, however, that adding points to the spread and point total will give you a better chance of winning, but you'll also get a smaller payout. Thus, a Teaser Bet turns a parlay bet into a bet with flexibility and better odds for the player.

When is it a good idea to bet a Teaser? If you're looking for a safer bet than a regular parlay, a Teaser bet is a good substitute. The teaser points allow for a little more risk tolerance, but this privilege also means you'll get paid out less. In some cases, Teasers are better ( especially in games where the final outcome is hard to predict ) because you might still come out a winner, even though you would have lost had you placed a standard parlay bet.

Most sportsbooks offer teaser bets in their lineups. Be sure to search through the betting options carefully, and also check out the "Exotic" bet section just in case Teasers aren't listed in the regular lineup of betting options. Teasers are a fun way to given your wagers some flexibility and margin of error, so that you're more likely to win. Furthermore, you're not facing the long odds of a parlay, which for some players, makes placing Teaser bets a bettor option.

When are teaser bets not a good idea? If you're very confident about the future resul tof a game, especially in regard to the point spread and point total, don't bet a Teaser: instead, go for a parlay bet, which will pay out better. Again, there's always a trade off. Parlay bets are harder to win than teasers, but the difficulty of winning a parlay bet also means you'll potentially make more money.

Choose your teams carefully and always read your sportsbook's wagering guide first before you place any bet, so that you can make an informed wagering decision! Good luck and have fun placing Teaser Bets!