What is a teaser in sports betting, you ask? We’re here to dive into the dynamics of teaser bets and why you might use them as part of your gambling toolset.
Sports betting is a popular activity the world over. Many people partake, whether they physically go to a sports betting operator or choose to punt at their favourite crypto casino. Gamblers have many sports betting options, with thousands of bet types on offer.
The most common types are straight bets, point spreads, money lines, and game totals. But, there is one exotic bet type that many sports bettors often use – the Teaser bet. Let’s uncover the details.
What is a Teaser In Sports Betting?
A Teaser bet is a variation of a parlay or accumulator bet that allows gamblers to move the point spread or the over/under a specific number of points in their favour. How is that possible, you may be wondering?
Well, there is a catch to this generosity from the bookies. For a gambler to take a Teaser bet, multiple bets must be tied together as part of the total Teaser bet. In addition, all the bets involved have to win for the Teaser bet to win.
As part of the parlay variation, Teaser bets allow gamblers to adjust lines on point spreads and game totals for more favourable odds. Teaser bets are typically available for football, and basketball games since the range of odds can be shifted up or down by many points. On the other hand, games like hockey and baseball won’t offer Teaser bets as these sports are set with lower numbers.
Bookies usually offer daily teaser cards that enable gamblers to place a parlay bet with up to 15 different selections. Let’s dive into some of the dynamics of Teaser bets.
How Does a Teaser Bet Work?
The most popular Teaser bet is a 6-point teaser. It allows gamblers to add or deduct six points from a spread or total depending on the gambler’s preference. Selected sports betting operators offer different point sizes for Teaser bets. This way, gamblers may have the option of 6.5-point and 7-point, depending on the platform.
Teaser bets must include two or more bets, although some operators set the minimum to three. The greater the number of bets added to Teaser gives sports bettors a potentially higher payout. Although, this comes at a much higher risk.
As mentioned above, every accumulator in the Teaser bet has to win for the entire Teaser bet to payout. Any break in the winning combination will result in a losing bet. To illustrate Teaser bets a little better, we can see the example below.
Say two NFL teams played each other – the Baltimore Ravens (9.5) and Chicago Bears (2.5). Gamblers could tease the Ravens, who are favourites, from 9.5 down to -3.5. They could also tease the Bears, the underdogs, from 2.5 to +8.5. Once the gambler places the Teaser bet, they need the Ravens to win the match by four or more points. The Bears would have to win outright or suffer a loss of eight points or less. On the premise that both these things happen, the gambler can cash in with odds of -110. Essentially, for a bet of $110 on the Teaser bet, the gambler would earn a profit of $100 and get his $110 back.
In many cases, a Teaser bet is not a good option for the sports bettor. Tying multiple games into one bet where each choice must win increases your risk of losing. On the other hand, bookies have a higher chance of getting your money. If you think about it, sports bettors don’t get compensated enough for risking their funds on Teaser bets.
Why do people still use Teaser bets, then? Teaser bets are great when you’re knowledgeable about a specific sport. You also have to be good at predicting possible outcomes with a fair degree of accuracy. You can make money with a Teaser bet, but only when you use it selectively and smartly.
A type of two-team teaser bet called the Wong teaser can produce bets with positive expectations (+EV). However, the Wong Teaser bet only works well with NFL games. Considering the close nature of NFL games and the sharp market, buying points with a Teaser bet can be reasonably profitable in these instances.
Teaser Odds and Payouts
As you would have gathered, Teaser bet payouts increase when you add more games to the bet. But, this is riskier for the gambler.
For a two-team Teaser bet, 6-point odds would be -110, 6.5-point odds would be -120, and 7-point odds would be -135.
For a three-team Teaser bet, 6-point odds would be +160, 6.5-point odds would be +140, and 7-point odds would be +120.
On a four-team Teaser bet, 6-point odds would be +265, 6.5-point odds would be +240, and 7-point odds would be +215.
Note that payouts will vary amongst the different sports betting operators. Make a point of understanding the final odds before committing your funds to the cause.
If one of your accumulator bets in your Teaser bet ties or pushes with the spread or total, that specific one is removed from the Teaser bet.
Where a two-team Teaser bet has a push, you can classify it as an overall push. A three-team teaser that ends up with one push would be classified as a two-team Teaser bet, and the payout will drop from +165 to -110. Here, the gambler gets their original bet amount back.
Buying the Right Numbers in the Right Games
We mentioned the Wong Teaser bet earlier, and you probably want to know how it works. Wong Teaser bets entail buying important numbers. So if you are betting on football, you need to buy three and seven as those are the most common winning margins for football.
It’s not simple to buy the “right” numbers and then wait to rake in your winning. But, by doing so, you will have a better chance of success.
You must also be aware of totals. They play a crucial role in your bet structure. Typically, the lower the total, the better the value of the Teaser bet. The points you buy are more likely to count when there’s a low-scoring game.
The Price Must Be Right
A significant factor gambler should consider when planning to use a Teaser bet is the price. Yes, that’s right – this is where matters can become a little tricky. Pricing on Teaser bets has changed over the years. Bookies have had to adjust their strategy as +EV bets have grown in popularity.
Unlike times gone by, not everybody who relies on the Wong Teaser bet is fortunate enough to rake in winnings. Success on Teaser bets was more attainable when -110 pricing was widely available amongst sports betting operators.
Things have since changed. Bookies have become wiser, largely limiting this option and curtailing sports bettors from regularly raking in wins. However, you should shop around the different sports betting operators to find the best pricing available and get bang for your buck with your Teaser bet.
Teaser Bet Strategy
Although some sports bettors regard Teaser bets as sucker bets, there are specific ways to boost your chances. The following strategies are most suitable when taking a punt on NFL games.
The NFL scoring system has important numbers to consider when pondering point spreads. These are 3, 6, 7, and 10 since they are the margins that decide most NFL games. Using Teaser bets to move off and through these specific numbers will help boost the probability of your bet covering the spread.
The opinion is split when it comes to Teaser bets spread through zero. Those who watch the NFL often know that football games are seldom tied. In light of this, zero is considered a dead number. It’s a so-called true waste of a point when moving the spread with a Teaser bet. You may find more joy in taking a short favourite and moving them to a short underdog – an action that will need you to move through zero.
Although Teaser bets are available for college football, avid fans of the NCAA will testify that it is much more volatile. The larger point spreads can make it more challenging to maximize the value of your Teaser bet. It makes it easier to spot the value when you want to use this bet. If you can help it, drift away from Teaser bets on NCAA and stick to the NFL, where the results are more consistent.
When using a Teaser bet, teasing over/under totals may not be as common as point spread teasers. While that may be the case, there are significant numbers you can use for teasing over/under totals. These numbers are 37, 41, 44, 47, and 51, as they are most likely to rake in a win. The most effective teaser movements around these totals are dropping the points on lower numbers and taking the Over.
What is a Reverse Teaser?
Reverse teasers, commonly known as pleasers, allow sports bettors to add or subtract a specific number of points before betting with that move. For example, you could drop a total from 46 to 40 and bet the Under. It would be to gain an advantage with the Over bet.
The risk of losing such a bet is greater since reverse Teaser bets change the spreads and over/under totals in a direction that isn’t beneficial. Conversely, your potential payouts could be much more rewarding – fortune does favour the brave here!
Custom Teaser Bets Using Alternate Point Spreads
There are many sports betting operators that offer punters alternate point spreads. It allows gamblers to build a customized teaser. Punters can adjust the line on a single game and place a one-team bet. Or they can bet on an accumulator to create a parlay ticket.
Sports bettors can move the line up or down in half-point increments by using alternate points spreading. It’s an option for those who want to add their touch to their Teaser bets instead of taking what’s on offer on the sports betting platform.
The beauty of online sports betting is that there are many different ways to play teasers. Off-the-board Teaser bets allow punters to pull spreads and totals from the current odds. It is instead of a fixed set of odds designated for teaser betting.
Always be aware of the juice fee that goes to the bookie when factoring in your potential winnings from your custom Teaser bet.
Are Teaser Bets Worth It?
Like any other form of betting, whether sports betting or playing a crypto casino game, Teaser bets are a risky proposition, perhaps riskier than other types of bets. Adding more games to your Teaser bet lowers your chances of winning. But equally important is that you will have the opportunity to win a highly-profitable wager if your bet is accurate.
While adding more games to your Teaser bet is enticing, you may succeed better if you keep your bet size to two or three games. This way, you can capitalize on the movement of the points by pushing through key numbers that will boost your chances of cashing in.
Betting preferences are very personal, especially when it comes to sports betting. Bias and prejudice can easily cloud your judgment. The lure of adding many more games to your Teaser bet is attractive when you look at the potential returns on offer.
With the above in mind, we hope we have answered what is a teaser in sports betting. Teaser bets are a great weapon in your arsenal, provided you use them smartly. Make sure to shop around for the best odds and bet on the sports you know about – Good Luck!