Teaser Betting Term Meaning

You may have heard the betting term ‘teaser’ being mentioned but had no idea what it exactly means. It actually refers to a special kind of parlay bet that allows punters to alter the points spread in their favour.

A ‘teaser bet’ is an interesting wager which combines the much-loved parlay bet type with the popular spread betting markets. The minimum number of selections required to make a teaser bet is two, with some bookmakers allowing up to a maximum of 10 or 15 selections.

It works partly on the same principle as an accumulator in that each selection must win in order for the bettor to receive to a payout. The second part of this wager is that the markets must be O/U totals (points spread); therefore, it’s most commonly associated with NFL and basketball betting. 

The unique aspect of a teaser bet is that the punter is given a set number of points, usually between 4 and 10, that are used to increase or decrease the spread; thus making the bet more likely to win. The drawback of doing this is that a teaser bet pays out far less than a traditional parlay wager.

How a Teaser Bet Works

The easiest method to fully understand a teaser bet is to see it in action, so here is a walk-through example using two National Football League games with a six-point tease.

Standard bet options:
  • Miami Dolphins +3 (1.91) versus Washington Redskins
  • Cleveland Browns +3 (2.00) versus Green Bay Packers

Placing a six-point two-team teaser bet on the above matches would change the spreads to:
  • Miami Dolphins +9 (1.40) versus Washington Redskins
  • Cleveland Browns +9 (1.45) versus Green Bay Packers

If you placed a normal parlay bet on the original wager, a $10 stake would return a profit of $28.20. However, the six-point teaser has reduced odds, so it only returns $10.30 profit. The trade-off in price is because the teaser bet is more likely to win, so many punters view them as a safer option and a good way to build their bankrolls - albeit - far more slowly.

With certain betting sites, you get the option of how many points you want to tease. The more you take, the lower the odds will be. There are also 10-point teaser bets available but for these you must make a minimum of three selections.