Frokat As we delve further into more advanced betting terms and strategies, a teaser bet is the first thing many newcomers get confused about. Many see parlay betting as complex, and teaser bets are just another variation of parlays. What are teasers? Is it worth betting on teasers and parlays in general? We answer these questions below.
What is a Teaser Bet?
A teaser bet is a variation of a parlay that allows punters to pick their own point spreads when combining multiple selections on a single wager. This crucial detail! The ability to move the point spread line makes teaser bets easier than a regular parlay bet.
A parlay bet is two or more wagers combined. Our parlay bets guide explains them in more detail.
Let's demonstrate a teaser bet with a simplified example.
Let's say we want to place a parlay bet on two matches in the UK Championship League:
- Match 1: Cardiff City vs. Huddersfield Town, with Cardiff City favored by 1.5 goals.
- Match 2: Middlesbrough vs. Norwich City, with Middlesbrough favored by 0.5 goals.
Now, we're certain that Cardiff will win but by a lower margin than presented, and Middlesbrough will draw the match. What we can do instead is place teaser bets and move the point spread in our favor on both matches.
Example teaser bet lines:
- We adjusted the line for Match 1, so now Cardiff City is only favored by 0.5 goal.
- We adjusted the line for Match 2, so now Middlesbrough is no longer favored; the match is a pick'em.
From this point onward, the rules for winning this two-team teaser are the same as for a parlay bet. Cardiff City must win their match by more than 0.5 goals (this fractional margin is just there to prevent a draw, so any winning margin goes). Middlesbrough must either win or draw (since the match is now a pick'em due to a teaser bet adjustment).
A teaser bet only sounds difficult on paper. In reality, teaser betting is the simplest of "complex bets".
Teaser Bet Tie
Unlike straight bets, which are refunded completely in case of a tie (also called a culled push bet), teaser bets can't tie. In case of a tie, most bookies remove one selection from the total bet slip, so a 3-selection teaser bet becomes a 2, and so on.
However, there's a limit to that. Once a teaser bet reaches two selections, another tie will result in the entire bet being refunded outright. This is called a "no action" bet. Note that it only occurs in case of a one-win/one-tie teaser bet—if it's one-loss/one-tie, then the bet is simply losing, and nothing is refunded.
Note that some sportsbooks use "hooks" to remove the possibility of teaser bet push. You may also rarely encounter sports betting sites that grade tie selection as losses (or wins), so act accordingly.
Reverse Teaser Bets (Pleasers)
We've talked about regular teaser bets and how they make betting on parlay easier. However, as we all know, making a bet less risky also makes it less profitable. That's where reverse teaser bets come into play.
These reverse teaser bets (also called pleasers) turn this concept on its head—they increase risks but also payouts. They work the following way: imagine dropping a total from 3 to 2 on a football game and then betting on the Under instead of the Over. The bet becomes much riskier (especially when it comes to three-team teaser bets or more), but the betting odds will be higher.
Let's demonstrate it with another example when betting on football:
Real Madrid vs. RB Leipzig
- Original point spread: Team A -1.5
- Original Over/Under: 2.5 goals
Borussia Dortmund vs. PSV Eindhoven
- Original point spread: Team C -1.0
- Original Over/Under: 3.0 goals
In a standard teaser, we'd bet on Real Madrid to win by more than 1.5 goals and the total goals in the Borussia Dortmund vs. PSV Eindhoven match to be over 3.0.
But that's too easy! We decide to opt for a reverse teaser bet to spice it up for higher risk and best betting odds. How do we do that? We decide to adjust point spreads by 1 goal AGAINST ourselves.
Real Madrid vs. RB Leipzig match: instead of needing Real Madrid to win by more than 1.5 goals, we now need Real Madrid to win by more than 2.5 goals. This is because the line is moved against our interest.
Borussia Dortmund vs. PSV Eindhoven match: instead of the total goals needing to be over 3.0, we now need over 4.0 goals for the same reason.
How to Place Teaser Bets?
Those used to single one-selection Moneyline bets might be confused with teaser bets. Betting teasers involves more operations with the bet slip, but fret not; it's still very easy. The algorithm is still very simple:
- Confirm the amount of selections you'd like to include in your teaser. Two-team teaser bets are a classic. But, the only limit here is your imagination - many bookmakers allow to include up to 10 or even more wagers in a single teaser bet.
- Choose the Handicap tab in the match. Depending on the region of your bookmaker, it can also be named a Point Spread tab.
- Select the point spread odds on the matches. Repeat the selection until you have included all the matches you want.
- Click on the "Teasers" bet slip section that appears. The point spread can be moved differently depending on the sports discipline of choice. In American Football, the most common teaser bet is moving the spread 6 points in your favor (the six-point teaser). In low-scoring sports, like football, the point spread is moved by 0.5-2 points.
- Review the odds and winnings and confirm the bet. The bet slip will automatically inform you of the potential payout.
Teaser Bets vs Standard Parlay Bets
These two are similar but have different goals. Let's review the advantages and disadvantages of teaser wagers to see if they're right for you.
| Advantages of Teaser Bets | Disadvantages of Teaser Bets |
|---|---|
| They're easier. The obvious part comes first—betting on teasers increases the chances of winning individual bets. This makes it perfect for punters who bet for fun and not profit. | Lower payouts make it impossible to win big. The less risky a bet is, the less the payout. Additionally, bookies ask for a higher margin with each selection added to the teaser. This margin is higher than a standard parley or a single-point spread bet. Teaser odds suffer as a result. |
| They're predictable. It's possible to alter the betting line for the match you like but would otherwise not bet on because of its high unpredictability. It's a great way to make spectating a match more exciting. | Large teaser bets aren't worth it. It's not even a question of denying yourself large payouts anymore! Point spread shifts that are too big aren't profitable in the long run at all, often resulting in negative gains over time. |
Teaser Bets in Different Sports
Not all sports are created equal when it comes to teaser betting. While this option is available to most bookmakers across many disciplines, some sports stand to benefit a lot more than others.
Teaser betting is a fantastic option for basketball. The NBA always works like clockwork with the winning thresholds. The NBA teams usually have a scoring margin around +5.0 (give or take 1 point). This is basically the standard basketball teaser amount—apply it and turn a mediocre point spread bet into a great teaser bet.
American Football games also have a lot to gain from bet teasers. Here's a simple stat: over a third of all NFL games are decided by seven points or less. Teaser betting massively boosts chances by pushing through these key numbers.