One of the first steps to becoming a successful sports bettor is understanding the important terms and different types of bets available to you.
Of the many types of bets available, teasers are one of the popular betting markets, but can be confusing to understand.
With that, we have created a complete guide that will fully explain what teasers are and how they work.
Teaser Definition?
By definition, a teaser is a type of parlay that offers bettors a unique way to be on games by lowering the set point spread or total.
How Does a Teaser Differ From a Regular Parlay?
The biggest difference between a parlay and a teaser is the fact that with a teaser, you will be allowed to “adjust” the point spread or total that has been set for any given game.
Further, unlike parlays, which tend to offer intriguing odds, teasers are more likely to have standard odds that can be slightly higher or lower depending on the type of teaser you are betting on. As a result, you would not see a teaser with odds of something like +1500.
Instead, you would see a teaser with odds ranging from -140 to +650.
What can you Tease in Betting?
With a teaser, there are a limited number of sports you can bet on, and with that, only two types of betting markets you can tease.
These markets are the point spread and game total, as all of the other markets are considered fixed, such as team totals, player props, game props, etc
Totals
For totals, this only includes the full game. You would not be eligible to tease a team total, a halftime total, a 5-inning total, a quarter total, a period total, or any type of player prop.
Point Spreads
The same principle applies to teasing point spreads, as you can only tease full game point spreads in eligible sports.
Point spreads that you cannot tease include halftime point spreads, quarter point spreads, period point spreads, run lines, goal lines, and puck lines.
What is a Special Teaser?
This is a type of teaser that requires you to have at least 3 or 4 selections. There is a special teaser for a 3-team teaser and a 4-team teaser in both football and basketball.
With a 3-team special teaser, it is only available when you select 3 teams. In this type of teaser, you are able to move the spread or total 10 points compared to the standard 6, 6.5, or 7 points. The caveat is that the odds for a special 3-team teaser are -120, meaning your payout is always.
For a 4-team special teaser in football, you can move the point spread or total by 13 points. The odds for this teaser are -140, so again, your payout will be lower compared to creating a standard teaser.
Special teasers work the same with basketball, with the difference being how much you can move the point spread or total. In a special 3-team basketball teaser, you can move the point spread or total 8 points at odds of -120, while with a special 4-team teaser in basketball, you can move the point spread or total 10 points at odds of -120.
What are the Teaser Odds?
For the odds associated with teasers, it starts to get more complicated. One of the nice things about betting on teasers is that there are different types of teasers. They also work differently for football compared to basketball.
Below, we have created a table outlining the different options for a football teaser and the odds associated with each type:
| 6-Point Teaser | 6.5-Point Teaser | 7-Point Teaser | 10-Point Teaser | 13-Point Teaser | |
|---|---|---|---|---|---|
| 2 Teams | -120 | -130 | -140 | N/A | N/A |
| 3 Teams | +160 | +150 | +130 | -120 | N/A |
| 4 Teams | +260 | +230 | +200 | N/A | -140 |
| 5 Teams | +400 | +350 | +320 | N/A | N/A |
| 6 Teams | +600 | +500 | +450 | N/A | N/A |
As for basketball, the table below will highlight the different types of teasers available and the odds for each one:
| 4-Point Teaser | 4.5-Point Teaser | 5-Point Teaser | 8-Point Teaser | 10-Point Teaser | |
|---|---|---|---|---|---|
| 2 Teams | -110 | -120 | -130 | N/A | N/A |
| 3 Teams | +170 | +150 | +130 | -120 | N/A |
| 4 Teams | +290 | +240 | +190 | N/A | -120 |
| 5 Teams | +450 | +400 | +350 | N/A | N/A |
| 6 Teams | +650 | +550 | +450 | N/A | N/A |
How do Teasers work?
Teasers are similar to a parlay in the sense that all of your picks or legs must win. As mentioned previously, the main difference is that when betting on a teaser, you can move the point spread or total.
For example, say you were betting on a 3-Team, 6-Point Teaser in football. The original spreads were the following:
- Team A -6.5 vs Team B +6.5
- Team C -8.5 vs Team D +8.5
- Team E -12.5 vs Team F +12.5
Now let’s say in your teaser, you decide to pick Team A, Team D, and Team E. Once you place your teaser bet, the spreads for the teams you selected would look like the following:
- Team A -0.5
- Team D +14.5
- Team E -6.5
Team A had an original spread of -6.5, but it was moved to -0.5 as part of the teaser bet you made. This means that instead of needing to win by a touchdown (7 points), Team A simply needs to win the game.
For Team D, they had an original spread of +8.5, but because of the teaser, their spread is now +14.5. In this case, Team D needs to keep the game within two touchdowns (14 points), instead of within 8 points.
Finally, for Team E, their original spread was -12.5, which is teased down to -6.5. This means they now only need to win by a touchdown (7 points), instead of essentially two touchdowns.
If and only if all three of your bets win as part of this teaser, your overall bet will be graded as a win, and you will be paid out.
How Many Teams Can I Include in a Teaser Bet?
For both football and basketball teasers, the minimum number of bets that must be selected is 2, while the maximum is 6.
What Happens if One Leg of My Teaser Pushes (Ties)?
Similar to a standard parlay, if one of the legs of your teaser pushes, it will be excluded from the outcome.
Let’s say you created the following 3-team 6-point teaser for football:
- Team A -6.5 (-0.5)
- Team C +4.5 (+10.5)
- Team E/Team F Over 55 Points (49 Points)
3-Team, 6-Point Teaser Odds: +160
Team A wins their game, Team C loses by 7, and the total for Team E and F lands exactly on 49 points. Your teaser would then look like this:
- Team A -6.5 (-0.5) Win
- Team C +4.5 (+10.5) Win
Team E/Team F Over 55 Points (49 Points) Push
2-Team, 6-Point Teaser Odds: -120
Because the total for Team E/Team F was a push, your teaser is updated from a 3-team to a 2-team, and with it, the odds are adjusted.
Is it Better to Bet on Favorites or Underdogs?
Because teasers allow you to move the point spread or total, both favorites and underdogs can be considered better depending on what the original spread or total is.
For example, in football, a great way to bet favorites in a teaser is when they are a favorite of 6 to 7 points. This is because adding them to a teaser essentially means you are reducing their spread to 0.0 or 1, which means they just need to win the game.
How Are Teasers Calculated & Made?
Teasers are a direct result of point spreads and totals; therefore, they are generally created based on those two betting markets.
What Factors Influence a Teaser?
Because teasers come from the point spread and totals created for any given game, the same factors that would affect those betting markets also would affect a teaser. This includes weather, team form, location, and player injuries, as well as many more.
What Does Covering the Teasers Mean?
This term is simply referring to whether or not your teaser was a winner. If you created a 3-team 6-point teaser in football and it won, you covered the teaser.
However, if one (or more) of the teams in your teaser was graded as a loss, you did not.
What Sports Can I Place Teaser Bets on?
Teasers are very limited, as only a handful of sports are eligible for this type of bet. These sports include football and basketball.
The most popular sport to use a teaser with is the NFL, followed by College Football, then the NBA, and College Basketball.
Other than these, teasers can not be created in any other sports. For example, you would not be allowed to create a teaser in baseball, soccer, or hockey, as well as any individual sports, such as golf, tennis, or MMA.
Can I Mix Point Spreads and Totals in the Same Teaser?
Yes, betting on a teaser in football or basketball allows you to use point spreads or totals within the same teaser. As long as you do not exceed the maximum number of selections in your teaser, you can mix and match bets however you would like.
Can I Mix Sports on a Teaser?
No, with an exception. In terms of creating a teaser with both football and basketball selections, this will not be allowed. However, you could create a teaser with two selections from the NFL and two from College Football, and it would be considered a 4-team teaser.
Final Word: Is Teaser Betting for You?
Whether or not teaser betting is for you should be a decision based on your experience. Keep in mind that teaser betting is limited to two sports, football and basketball, as well as two markets, that being point spreads and totals.
The best advice is to try teaser betting for yourself, but do not immediately create the biggest teaser you can. Instead, start with a small teaser to see how it works and go from there.
Quick Glossary
Total
The betting market that focuses on the number of points scored in a game. This can be for a full game, a player’s performance, or many other types of markets involving points being scored.
Point Spread
The type of bet that uses a predetermined margin. Favorite must win by more than this margin, while underdogs must win outright or lose by less than this margin.
Covering
The term to determine the outcome of any given bet. If your bet won, you covered, while if it lost, you did not cover whatever the bet happened to be.
Push
A betting outcome where the point spread or total lands exactly on the number that was originally listed. This results in your money being refunded.
Vig
The extra amount of money you pay for a Sportsbook to accept your bet. The vig is only collected if your bet loses.