The Comprehensive Teaser Sports Betting Guide

Swinging Johnson
August 16, 2024

Recreational bettors are normally more inclined to betting teasers than seasoned bettors, but the idea of getting more points on an underdog team or laying less on a favorite has an allure that is hard to resist. Two, three and even four-team teasers have become increasingly popular for casual bettors as they can have the luxury of a much better points spread in one fell swoop.

What is a teaser bet?

Parlay betting and teasers in sports betting are somewhat similar in that all legs within each bet have to cover in order for it to be graded a winner. It doesn’t matter the type of teaser wager but the entire teaser must win.

Essentially, in a two-team teaser, the teaser bettor can use 6 points on both legs of a football teaser or 4 points in a basketball teaser. The advantages of teaser bets are the additional points you are getting with an underdog or the lack of points you are laying with the favorite.

You will find that top-rated online sportsbooks offer a wide variety of teaser bets, standard parlays, or any type of parlay bet involving sides or totals routinely offered at the industry’s best betting sites.

An example of a two-team teaser using the following original betting lines of these two games:

Chiefs -4 vs. Giants +4
Patriots -2 vs. Browns +2

Now we can take both favorites, both underdogs, or a combination of each and put it in a two-team teaser which allows us to use 6 points in our favor. Below are the four different teaser combinations we can generate from these four teams.

Teaser 1: Chiefs +2 & Patriots +4
Teaser 2: Chiefs +2 & Browns +8
Teaser 3: Giants +10 & Patriots +4
Teaser 4: Giants +10 & Browns +8

Some sportsbooks do not allow both teams in the same game to be put in one teaser which is why we excluded Chiefs +2 & Giants +10 as well as Patriots +4 & Browns +8.

How to Place a Teaser Bet

Common teasers for football are found at all of the top-rated sportsbooks whether they are in a physical location like retail sportsbooks, or on the internet like online sportsbooks. Teasers in football are the most popular, which isn’t all that surprising considering football betting is the most widespread of all sports.

Teasers on football or teasers in basketball can be found at all of the most popular sportsbooks like Bookmaker.eu, BetOnline, Bovada, and Heritage Sports. And we must remember that six points are given to two teams, underdog or favorite, in football teasers while both teams in basketball teasers get four points. And let’s not forget that some sportsbooks will not allow the same teams in a football or basketball game to be included in the same teaser.

Different Types of Teasers

There are many different teaser varieties including a same-game teaser option. A two-team six-point teaser in football is the most popular but there are other teaser options like a reverse two-team teaser, often referred to as pleasers, where the bettor sells points for better odds.

Depending on the sportsbook you are using there can be two team all the way to 10-team teasers. Generally speaking, the more teams used the more points you will get. However, other sportsbooks will give you the same number of points regardless of how many teams you use, but they will give you increased odds for more teams.

Should you use teaser bets?

All sports bettors want a fair shake and that’s why most experienced bettors use a single-wager strategy and stay away from exotic wagers such as parlays, teasers and round robins. However, if a punter uses an optimal teaser strategy, it can be highly beneficial and even open up hedging or arbitrage opportunities.

The Right Numbers in the Right Games

The rule of thumb when placing this type of bet is to make sure they never move onto popular numbers like 3, 4, 6 or 7 because some sportsbooks count a push as a loss, which means the entire teaser immediately loses. However, most of the best online sportsbooks will simply reduce the number of legs in the teaser and not count the push as a loss.

This is a standard for teasers as moving from a -3 to a +3 is not a wise move considering three is the most popular margin of victory. If your book grades pushes as losses, then you might want to consider using another book.

When the Price is Right

Adjusted prices for teasers have become more common. In the not-so-distant past, the standard price of -110 was the norm for teasers but many books have now introduced two-team teasers at -120 and even higher depending on how many teams are being used in the teaser. Check your sportsbooks’ teaser rules so you know what to expect when betting on a teaser.

Reverse Teasers

We touched on reverse teasers earlier, but they are a teaser of sorts. Often called pleaser bets, these are simply taking away points instead of giving points. Betting pleasers are often reserved for highly confident bettors who believe they don’t need as many points on the underdog or are willing to lay more points on the favorites in return for better odds.

One example of a football pleaser pay table is the following:

# of Teams	6 Points	6½ Points	7 Points	7½ Points
2	6/1	13/2	7/1	8/1
3	17/1	19/1	21/1	26/1
4	45/1	55/1	63/1	80/1
5	120/1	150/1	180/1	240/1
6	300/1	400/1	500/1	700/1

If you hold your wagering abilities in high regard, then a pleaser bet may be the right one for you.

What happens if a teaser ends in a push?

The standard for teasers whenever there is a push is that the teaser becomes one leg smaller. For instance, a two-team teaser with one leg pushed would become a flat bet. A teaser with six teams and two of those teams pushed would become a four-team teaser from a teaser standpoint. Analysis of teasers is critical if you plan on making a steady diet of them.

Teaser Betting Strategy

Stanford Wong developed strategies about teasers that were predicated on moving the line through the two most important football numbers, three and seven. This is an optimal teaser strategy because in a single betting situation with a -110 vig using the exact spread that the books do with no alternate point spreads, you would need to cover the original point spread at a 52.4 percent success rate to break even.

However, using this advanced teaser strategy developed by Mr. Wong, when traveling through key numbers of three and seven, the success rate for each leg improves to 72 percent. And this is one of those alternative wagering options that can actually be +EV and beneficial for your bankroll.

Calculating Teaser Bet Odds

Teaser odds will vary depending on which online sportsbook you are using. You can plug your teams into the betting calculator and choose how many points you want in your teaser. The more points, the lower the odds. Remember, common margins of victory are normally 3, 4, 6, and 7 points so when you use the teaser points try to avoid those numbers. These frequent margins of victory are commonly made using a regular spread or one that has moved due to the teaser points the bettor is getting. Again, alternate point spread odds will vary from sportsbook to sportsbook.

Teaser Payouts

A potential payout on your teaser lines depends on the sportsbook’s teaser payout rules and the more teams put in a teaser, the greater the profit potential. More teams pose an additional risk but the potential profit is greater as well. The risk in exchange for greater profits is why there are different payouts depending on the teaser’s ability to cover all legs that lie therein.

Below are typical football teaser payouts.