What is a Teaser Bet? | Teaser Betting Guide

One of the most popular ways to bet on high-scoring sports (think football or basketball) is through spread betting. But what if the point spread provided by the sportsbook doesn’t look good enough for you?

That’s where teaser bets come into play, allowing you to adjust the point spread to your liking. Continue reading our teaser betting guide below to learn more about teaser bets and how and when to use them.

What is a Teaser Bet?

A teaser bet is one of the most common yet misunderstood sports wagers. It is a type of parlay bet in which you can shift the point spread or total (over/under) lines in your favor.

When you tease the point spread, as they say in bet slang, you move the betting line by either deducting points from the favorite or adding points to the underdog. For example, in NFL or college football, the two most popular sports for teaser betting, you can shift an underdog’s spread from +2.5 to +8.5. In this scenario, the team now only needs to lose by less than 8.5 points (or win) for the bet to succeed.

But remember, teaser bets are a type of parlay, which means the wager must include multiple legs, and each leg must be successful for the bet to cash.

This type of sports bet makes sense because it boosts your chances of landing your wager. Of course, the trade-off here is that your expected payout will dip accordingly.

How are Teaser Bets & Parlays Different?

Teaser bets and parlays are similar in that they combine multiple bets into one wager. Here's an example of a three-team NFL parlay:

Parlays are high-risk, high-reward bets that combine multiple bets into one bet with longer odds and a higher payout. For both a parlay and a teaser bet to be successful, each leg (individual bet) must be correct for the entire wager to cash. If one bet fails, then the whole wager fails.

The key difference between parlays and teaser bets is that in teasers, you sacrifice higher risk and higher payout for a better point spread in each leg (typically 6 or 7 points in your favor). However, since your bet is more likely to succeed due to a better point spread in your direction, the odds will be shorter, and your payout will be lower. Essentially, teaser bets can be seen as safer parlay bets.

Let's take a look at how the parlay bet above looks when changed to a 6-point teaser bet:

As you can see from above, the total odds for the bet dropped from +600 to +160, considering that you received a 6-point swing in your favor on the spread in all three games. So, instead of earning $600 from a $100 parlay bet, you would receive $160 from a $100 teaser bet in this example.

How to Place Teaser Bets: How Does a Teaser Bet Work?

Teaser bets let players adjust point spreads across two or more legs in a parlay. Most commonly used in NFL and college football, these bets require all selected teams to cover their shifted spreads. If even one selection fails, the entire teaser bet is lost.

A teaser bet in football or basketball lets you deduct or add 6, 7, 7.5, or even 14 points from the over/under line or point spread. You can tease (shift) the point spread or total betting line in your betting favor (6 or 7 points is the most common). For example, if the Denver Broncos are -6 favorites, a 7-point teaser bet moves them to +1. This means that instead of needing to win by more than 6 points, now they only need to win the game outright for the bet to succeed.

The opposite is true for the underdogs. At +6, a 7-point teaser would push the Broncos to +13 on the spread. That means they can now lose by up to 13 points but still cover the spread.

Teaser Bet Odds & Payout

NFL sportsbooks like DraftKings, FanDuel, and BetMGM add a slider tool to the bet slip to help you set teasers. Let’s see what a two-leg NFL parlay looks like with a 6-point teaser at BetMGM. In our original parlay, we have the Cleveland Browns to cover a +6 spread at (-110) and the New Orleans Saints to cover a +2.5 spread at (-105). If we put a $10 bet on the parlay without making it a teaser, our payout would be $37.25 (including the original $10 stake).

Here's what it looks like as a parlay:

If we change the parlay to a 6-point teaser bet, the new spreads become +12 for the Browns and +8.5 for the Saints. Accordingly, the payout for a $10 teaser bet reduces to $17.70 (for a $7.70 profit).

Here's what it looks like as a teaser bet:

The tables above demonstrate just how much the potential payout can drop when placing a teaser bet versus a parlay bet. However, the more legs you add to a teaser bet, the odds and payout get significantly higher.

Teaser Bet Payout Examples

The most common teaser bets for NFL and college football are 6-point and 7-point teasers. Below, we will give you an idea of what kind of odds you can expect if you place a 6-point teaser bet using $10. Of course, this depends on several things, such as how many teams you add, how many points you tease, current spread odds, and which sportsbook you use.

Teaser Bet Push: What Happens?

When a game in a teaser bet results in a push (tie), most sportsbooks simply remove that leg and adjust the payout to reflect the odds of the remaining selections. A three-team teaser with one push becomes a two-team teaser.

How to Place a Teaser Bet: A Step-by-Step Guide

Placing teaser bets is very simple, as most sportsbooks greatly streamline the process. Here's a detailed guide on how to place a teaser bet:

1. Select a Trusted Sportsbook: Select a high-quality online sports betting site. We recommend DraftKings, FanDuel, BetMGM, Bet365, and Hard Rock Bet for teaser betting. Don't forget to claim a sportsbook bonus if you are a new customer.
2. Pick Your Sport and Games: Navigate to the sport you want to bet on and then find two or more games to wager on.
3. Select Your Teams or Totals: Choose two or more teams or point totals to include in your teaser bet.
4. Adjust the Spread or Total: Determine how many points you want to shift in your favor. Sportsbooks usually allow you to push the spread in your favor by 6, 6.5, or 7 points. The sportsbook will update your potential payout as you manipulate the spread or total and add legs.
5. Place Your Bet: Once you've decided on the teams you want to wager on, confirm your selections and place your bet.
6. Track Your Teaser Bet: Monitor your teaser bet throughout the games in your bet slip on the sportsbook.
7. Claim Your Winnings: If your teaser bet wins, collect your payout.

Types of Teaser Bets

When Should You Place Teaser Bets?

There are plenty of reasons to opt for a teaser bet (over a normal point spread), especially in college football and NFL games. Shifting the point spread or total in your favor makes your bet more likely to win. Think of it as a way of buying more points to cut the risk of a loss.

Teaser bets bundle multiple wagers into one ticket. If you win all the legs in your teaser, you can earn a bigger payout than placing them as single bets.

Another big plus is the flexibility that comes with teaser bets. You can adjust lines to match your game predictions more closely. This lets you turn seemingly tough parlays into something more achievable. Instead of being locked into a strict point spread, they can move the numbers to reflect your predictions more accurately.

Think of it as a way to give yourself a small buffer. A teaser bet can provide that extra cushion if you're confident about a team but worried about a tight point spread. It's a tool for gamblers who want more control and a bit more breathing room in their betting approach.

Best Teaser Bet Strategies

Teaser bets get a bad rap in some betting circles, sometimes called a “sucker's bet.” However, knowing how to wisely use teaser bets can give you another gadget in your betting toolbox. Here are a few teaser bet tips to follow:

1. Pay Attention to Key Spread Numbers

Most NFL games are decided by 3, 6, 7, and 10 points (35.8%) due to field goals and touchdowns. A smart teaser bet strategy is to move the spread off of these make-or-break numbers in order to get more cushion for your bet.

2. Move a Short Favorite to an Underdog

Veteran bettors often shift short favorites to underdogs in order to give more margin for error on their bets. For example, say the Miami Dolphins are favored by -3 points against the Las Vegas Raiders. If a bettor is unhappy with that number but is confident the Dolphins will come out on top or lose in a close one, they could alter the line with a 7-point teaser to make the Dolphins a 4-point underdog instead.

3. Bring Large Spreads Lower

This is a good teaser bet strategy for college football, as point differentials can get quite large when good teams face off against bad teams. The key is finding teams that consistently produce offensively or defensively. If you are confident a team will either score a certain amount of points or hold a team under a certain amount of points, you alter the spread to reflect that.

4. Find Spreads that Seem Off & Strengthen Your Position

You will often see a spread that feels like the oddsmakers missed big time, i.e., a high-confidence bet. If you find multiple of these in a week of games, you can place a teaser bet on them and get extra points in your favor. This turns a confident bet into an ultra-confident one.

Top Sportsbooks for Teaser Bets

Are Teaser Bets Worth It?

There are a few drawbacks to teaser bets. Lower odds hit teaser bets hard. Bettors face reduced potential winnings compared to standard point spread wagers. The trade-off for increased flexibility means less money in the event of a win.

Also, teasers are a form of a parlay, which means you are compounding your risk. It only takes one leg to be wrong for the whole bet to be doomed. For this reason, in most cases, teaser bets and parlays are not as good as betting options as spread, moneyline, and over/under bets.

Teaser Bets | FAQ