One of the most frequently asked questions when it comes to the betting glossary has to be about the teasers – what is teaser bet, what does it mean to tease a bet, could you explain teaser wagers, are just some of the questions we get in our email inbox almost daily. Well, as always we have come through with this guide to teaser bets explained.
Teaser Bet Explained
What is a teaser bet? It’s a form of a parlay bet, where you are given the option to adjust the conditions of the wager (for example, the point spread) in your favor in exchange for a smaller payout. And as a form of parlay, if any of the games in your teaser bet is a loss – your entire teaser is graded as loser. The teaser involves anywhere between 2 and 15 teams, depending on the sportsbook, and it’s most commonly available on football (NFL) and basketball games. There are quite a few options here when it comes to the different kinds of teaser bets, so keep reading. Some examples would help understand this type of wager so let’s get to it.
While teasers are available for basketball games, it is most used on the football games, so we will use NFL games to give examples of teaser bets. As noted earlier, you can adjust the conditions required to win the wager, the main two being: point spread and over/under. If you place a point spread teaser, you will decrease the spread of the favorite team (respectively increasing the spread on the underdog). Each sportsbook will be slightly different, but they all will present you with a list of options by how much you can move the spread of the teaser and the respective payout odds. For example, you could have 6-point teaser (moving the spread by six points in the direction indicated earlier) or even 10-point teaser. For the sake of simplicity, let’s say you’ve chosen to place a 2-team six-point teaser and the regular point spread on the two games is as follows:
Detroit Lions +10
Green Bay Packers -10
New England Patriots -2
Denver Broncos +2
If you place a six-point teaser, you will be moving the line of both games by six points. Let’s say you want to take the Packers and the Broncos. With a six-point teaser bet the spread on the Packers will move to just -4 and the spread on the Broncos will now move to -4 as well (since all we are doing is moving the point spread line by six points in the opposite direction). As you can see, you have greatly benefitted by the teaser bet adjustment of the spread, but keep in mind that the payout will also be changed in a negative way – you will get paid much less, as compared to a simple parlay of the two teams with the original point spread.
The explanation on the over/under teaser is similar, but instead of moving the spread, you’d be moving the total. The only difference here will be that with the total – it will always move in a direction beneficial to you. So if you have two-game over-under teaser and you want to take the “over” on one game and the “under” on the other, the total will move down on the first game and up on the second. To give an example, if in the first game the original total was posted at 40 points and the second at 50 points, and you are placing a 5-point teaser with the first game “over”, the total of that game will move down to 35 points, while if you bet the second game under, the total of that game will move to 55 points. In other words, both will move by 5 points, but each one will move in a direction favorable to your particular selection, whether over or under.
Types of Teaser Bets
There are three types of teaser bets, the main two being regular teaser and sweetheart teaser, we will talk about the third type towards the end, as it is rare and only a few sportsbook offer it. The types of teaser bets depend on only one condition – whether a game that’s part of your teaser pushes (or ties). We already learned that if just one game that’s part of your teaser is a loss – you lose the entire teaser, but what if a game is a push? Here the result depends on the type of teaser you placed.
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