A teaser bet is similar to a parlay bet in the sense it is one of the sports betting in the United States. It also allows bettors to make multiple picks as part of a single wager and has a different payout structure compared to placing individual bets. 5c4i52
The biggest difference between teaser bets and parlay bets is that bettors get to adjust lines by a certain amount of points depending on the sport involved. Bettors are “buying” points to create a more favorable spread to beat the sportsbook. The price for those points is a smaller payout compared to a parlay bet.
How a Teaser Bet Works 286o6v
Teaser bets work with both college basketball games and totals.
For basketball games, bettors can buy anywhere from 4 to 6 points in one-half-point increments (i.e., 4, 4.5, 5, 5.5, and 6). For football games, bettors buy in a more narrow range from 6 to 7 points (i.e., 6, 6.5, 7). The more points bettors buy, the lower the payout for each successful winning bet, regardless of the number of picks teased.
Some sportsbooks offer teaser specials of 10 points, but those are usually restricted to three-team teasers. The usual payouts for each type of teaser will be covered below, but note that the payout could vary from sportsbook to sportsbook.
Placing a Teaser Bet 1g1j6o
Back in the old days prior to 2018-2019, bettors had to place a teaser bet in person with a ticket writer, and most sportsbooks had teaser card options to help speed the process along for transactional purposes. Though teaser cards are available, some sportsbooks offer teasers with “live lines,” which are lines or totals that may be different than those listed on the card.
When such an offering is available, ticket writers will confirm with bettors they accept those live lines before printing up the ticket. Bettors also have the option not to place the bet in such instances given even a shift of one-half point in either direction of one pick could conceivably alter the outcome of the entire wager.
Of course, teaser wagering is still available at traditional retail sportsbooks, but the vast, vast majority of bettors place their teaser wagers online using the mobile sportsbook app and choose the number of points to tease. Some online sportsbooks will offer a teaser card with the adjusted lines based on the number of points bought, allowing the better to choose the number of plays they like to make and the amount of the wager.
As part of building a teaser, bettors can mix betting types between point spread bets and totals bets if they are available. When teasing a totals or over/under bet, bettors are “tea” or “teasing down” the line to a desired outcome. For example, if an over/under total is 44 points in an NFL game and bettors are teasing 6.5 points, they would “tease down” to 37.5 points to aid the over being the winning play or “tease up” to 50.5 points to aid the under being the winning play.
While limited in type of bets to point spread and totals or over/under, bettors can be creative in finding the right combination of plays to build a multi-team or multi-pick teaser.
Example of a Teaser Bet mv5y
This example is a standard 3-team NFL teaser using a 6.5-point teaser. These are the point-spread betting lines offered by the sportsbook.
- New England (-7) vs. Buffalo at -110
- Dallas (-3) vs. Philadelphia at -110
- Minnesota (-3) vs. Green Bay at -110
In choosing these three games, bettors can then move each line 6.5 points in the direction of their choosing.
In the first game, if the bettor is confident New England will win the game, the decision would be to “tease down” the 7-point spread to 0.5 points. In that instance, the bettor would win that leg by New England simply winning the game.
If a bettor has the same confidence in a lesser favorite, such as the Cowboys, teasing down the line 6.5 points in Philadelphia’s favor would result in altering the spread so Dallas is getting 3.5 points (Dallas +3.5). In that instance, a bettor could win that leg if Dallas wins outright or losses by three or fewer points.
Lastly, if a bettor has confidence in an underdog either winning outright or losing by fewer points than a teased margin, the bettor can add points. In the last case, a bettor can “tease out” Green Bay to +9.5 points and win that leg if Green Bay wins outright or loses by nine or fewer points.
Technically, bettors can “tease out” if they are confident in a favorite, but there is nothing to be gained with such a selection. The goal is to make every pick as strong as possible since the only way bettors win a multi-pick teaser wager is for every leg to win.
Teaser Payout Charts 1r2a4l
The following are the average payouts based on the number of plays teased and the various payouts based on the number of points bought. Again, these payouts vary from sportsbook to sportsbook across the number of plays teased and points bought as well as sport to sport.
COLLEGE FOOTBALL TEASER PAYOUT CHART BY ODDS
| # Of Teams | 6 Points Odds | Payout Per $100 | 6.5 Points Odds | Payout Per $100 | 7 Points Odds | Payout Per $100 |
| 2 Teams | 20/21 | $105* | 20/23 | $115* | 4/5 | $125* |
| 3 Teams | 17/10 | $170 | 3/2 | $150 | 13/10 | $130 |
| 4 Teams | 11/4 | $275 | 12/5 | $240 | 11/5 | $220 |
| 5 Teams | 17/4 | $425 | 15/4 | $375 | 7/2 | $350 |
| 6 Teams | 13/2 | $650 | 21/4 | $525 | 19/4 | $475 |
| 7 Teams | 10/1 | $1,000 | 8/1 | $800 | 7/1 | $700 |
| 8 Teams | 15/1 | $1,500 | 11/1 | $1,100 | 9/1 | $900 |
| 9 Teams | 20/1 | $2,000 | 15/1 | $1,500 | 12/1 | $1,200 |
| 10 Teams | 25/1 | $2,500 | 20/1 | $2,000 | 15/1 | $1,500 |
* Denotes how much money needed to wager to win $100 on bet.
NFL Teaser Payout Chart 2j2430
| # Of Teams | 6 Points Odds | Payout Per $100 | 6.5 Points Odds | Payout Per $100 | 7 Points Odds | Payout Per $100 |
| 2 Teams | 5/6 | $120* | 10/13 | $130* | 5/7 | $140* |
| 3 Teams | 9/5 | $180 | 6/5 | $120 | 3/2 | $150 |
| 4 Teams | 3/1 | $300 | 5/2 | $250 | 2/1 | $200 |
| 5 Teams | 5/1 | $500 | 4/1 | $400 | 7/2 | $350 |
| 6 Teams | 7/1 | $700 | 6/1 | $600 | 5/1 | $500 |
| 7 Teams | 10/1 | $1,000 | 9/1 | $900 | 8/1 | $800 |
| 8 Teams | 15/1 | $1,500 | 12/1 | $1,200 | 10/1 | $1,000 |
| 9 Teams | 20/1 | $2,000 | 15/1 | $1,500 | 12/1 | $1,200 |
| 10 Teams | 25/1 | $2,500 | 20/1 | $2,000 | 15/1 | $1,500 |
| 11 Teams | 35/1 | $3,500 | 25/1 | $2,500 | 20/1 | $2,000 |
| 12 Teams | 50/1 | $5,000 | 35/1 | $3,500 | 25/1 | $2,500 |
* Denotes how much money needed to wager to win $100 on bet.
Basketball Teaser Payout Chart 3s34i
| # of Teams | 4-point Moneyline | 4.5-point Moneyline | 5-point Moneyline | 5.5-point Moneyline | 6-point Moneyline |
| 2 Teams | +117 | +103 | -110 | -120 | -150 |
| 3 Teams | +200 | +190 | +165 | +150 | +120 |
| 4 Teams | +335 | +315 | +265 | +240 | +185 |
| 5 Teams | +525 | +490 | +410 | +365 | +270 |
| 6 Teams | +805 | +745 | +610 | +550 | +380 |
| 7 Teams | +1,200 | +1,100 | +890 | +800 | +530 |
| 8 Teams | +1,775 | +1,625 | +1,275 | +1,100 | +725 |
| 9 Teams | +2,600 | +2,400 | +1,825 | +1,550 | +975 |
| 10 Teams | +3,800 | +3,500 | +2,600 | +2,150 | +1,325 |
* Listings such as -110 require bettors to wager $110 to win $100.
Potential Outcomes of Teaser Bets 3132y
There are three outcomes to a teaser bet.
- Bettors win their teaser bet when EVERY leg (i.e. individual pick) wins, and sportsbooks pay out the winnings based on the number of legs listed in the charts above. If ANY of those legs do not win or “push” (more on that below), bettors lose the teaser bet.
- In the event of a two-team teaser with one leg ending in a “push,” it cannot be reduced to a straight bet like a parlay. When one leg wins and a second leg pushes, the teaser bet is graded as “No bet” or “No action,” and bettors are returned their original stake.
- For a teaser of three or more teams, the pick that ends in a push is treated as if it never existed. As an example, a bettor has a four-team NFL teaser at 6 points. Three of those “legs” have won, while the fourth ends in a push. In this instance, the bet is now viewed as a winning three-team teaser and would pay out at 9/5 according to the payout chart listed above. So a $100 wager on that four-team teaser would result in a payout of $180 plus the original $100 stake, which is the typical payout of a winning three-team teaser.
Teaser bets offer bettors the chance to play oddsmaker and challenge the sportsbooks, though the price for playing oddsmaker is a smaller payout than a parlay bet. Teaser bets are still challenging propositions, though, with the allure of a big payout. Try out a teaser bet the next time you’re looking for something new to wager on using your favorite sportsbook app. Just to bet within your budget. For more on how to wager responsibly, check out our SportsHandle responsible gambling page.
