A teaser bet is a type of wager that combines two or more individual bets — or legs — into a single bet with adjusted point spreads or totals. Teaser bets are popular in NFL games, since points are scored in increments that allow for adjustments to the spread or total. Typically, teaser bets involve adjusting the point spread in favor of the bettor, so there’s a better chance of winning each leg of the teaser. Before you get excited seeing the words “in favor of the bettor,” there is a bit you need to know about teaser bets.
For starters, you should understand that a teaser bet is basically a modified parlay bet, since two or more individual bets are being combined into a single wager. The biggest difference between a teaser and a normal parlay is that the point spreads or totals in a teaser are adjusted to favor the bettor. That means there’s an increased chance of winning each leg. Of course this also results in a lower potential payout when compared to a traditional parlay. Unfortunately, you can’t have it all in the world of online sports betting and as they say, “The house always wins.”
Still, teaser bets are a great way to learn how parlay bets work, since you only win a teaser bet if all legs are successful, just like a parlay bet. This also means if any one of the legs of a teaser loses, you lose the entire bet. If you follow everything about the NFL and not just your favorite teams, teaser bets might be up your alley. Armed with as much information as possible, you can select the right games and point spread adjustments to increase your odds of winning.
Teaser bet example
To better illustrate a teaser bet, here is an example involving two games:
- Kansas City Chiefs (-7.5) vs. Denver Broncos
- Green Bay Packers (-3) vs. Chicago Bears
Let’s assume you want to make a 6-point teaser bet, combining these two games. The point spreads would be adjusted in your favor by 6 points per game, so it’ll look like this:
- Teaser Leg 1: Kansas City Chiefs (-1.5) vs. Denver Broncos
- Teaser Leg 2: Green Bay Packers (+3) vs. Chicago Bears
That means the Chiefs will have to win by 2 points or more and the Packers can now lose by up to 3 points or win the game. That’s compared to the Chiefs needing to win by 7.5 points or more, and the Packers needing to win by more than 3 points. If both legs are successful, then the teaser bet is a win. If either leg doesn’t cover the spread however, the teaser bet is a loss.
What is the payout for a teaser bet?
As we mentioned before, the potential payout for a teaser bet will be less than a standard parlay because of the adjusted point spreads in the bettor’s favor. Each sportsbook or online betting site will handle the payout differently. But as an example, a standard two-team parlay may payout at 2.6:1 while a two-team, 6-point teaser will pay out at 1.8:1.
What to look for with teaser bets
If you’re considering an NFL teaser bet, there are a few factors to keep in mind. We recommend looking for games that have point spreads that can be adjusted by key numbers — like 3 and 7 — that are common margins of victory in the NFL. If you are able to move the spread through these key numbers, you can increase your chances of covering the adjusted spread. As always, we recommend “shopping” around at various online betting sites and sportsbooks to find the best teaser odds and point spread options.
Another factor to consider is proper bankroll management. As we explained earlier, teaser bets will typically have lower potential payouts than standard parlay bets. As a result, you’ll want to be disciplined with your wager sizes and learn to limit the number of legs in your teaser bets. Don’t forget, adding more legs will increase the difficulty of winning the entire bet.
What is the appeal of teaser bets?
Some bettors enjoy teaser bets because of their flexibility and increased probability of winning. Since you are able to adjust the point spreads to create a more favorable bet, you have a higher chance of winning than with a parlay bet. But like a parlay bet, all legs must be successful in a teaser bet in order to win.
In conclusion, teaser bets can be an exciting and potentially profitable option for those who enjoy betting on NFL games. By carefully selecting games with favorable point spread adjustments, shopping around for the best odds, and employing disciplined bankroll management, you can increase your chances of success with teaser bets. As with any betting strategy, practice and patience are crucial.