The most common teaser is a two-team, six-point football teaser. In this type of teaser bet, the bettor can adjust the point spreads for the two games but will realize a lower return on the bets in the event of a win. And just as in a standard parlay bet, both teams must cover these new spreads in order for you to win and for your teaser bet to pay out. Teaser bets are most common when betting on football, and slightly less so in basketball.
They can involve two teams, or many more—some sportsbooks allow up to 10 bets in a teaser. As with any type of parlay bet, teasers can generate large returns, but they are also risky. Key Takeaways In a teaser bet, you can change the point spread for two or more games. The bettor is allowed to change the point spread for a game in a teaser bet, making the bet easier to win. In exchange, the sportsbook will lower the payout due should they win.
Gambling always involves a negative expected return—the house always has the advantage. What Is a Teaser Bet? At its most basic level, a teaser bet is a type of parlay bet in which you can pay to make the bet easier to win.
You pay for this increased likelihood of winning in the odds that you pay for the bet. Normally, you can adjust six points for a football game and four points for a basketball game. In exchange for making your bet easier to win, you must pick at least two teams to bet on. This increases the chances of the bet failing by at least one leg. And like a parlay bet, you must win all of the legs in a teaser to see any return.
The sportsbook might also raise the odds for teaser bets, diminishing your payout even if you do win. Follow the example below to see this principle applied in a realistic situation. Additionally, the betting odds for the Dallas Cowboys to beat the Houston Texans are three points as well. When you place a teaser betting wager, you decide on the point spread within a range the sportsbook offers.
Typically this is either six, six and a half, or seven points. You can place your teaser bet on either the favorites or the underdogs for these games. Whichever you pick, a teaser bet adjusts the point spread in your favor. On the other hand, if you go for the favorites, your teams can actually still lose as long as the spread is less than three points.
Your teams both come out on top, so you cash out your teaser bet.