Teaser Parlay Bet

Teaser
How adjusting point spreads creates flexibility for bettors and why teasers are both popular and risky

---

📘 Definition

A Teaser is a type of parlay bet where the bettor adjusts the point spread (or total) in their favor across multiple games, typically by 6, 6.5, or 7 points in football or basketball. While teasers increase the chances of each individual leg winning, they also reduce the overall payout compared to standard parlays.

Example:

• Regular line: Chiefs -7 vs Raiders.

• 6-point teaser: Chiefs -1.

• Combine with Rams +7 teased to +13.

• Both legs must win for teaser to cash, just like a parlay.

Teasers are attractive because they “tease” spreads around key numbers (like 3 and 7 in NFL). But sportsbooks price teasers to their advantage, making long-term profitability difficult unless executed strategically.

---

🧮 Structure

1. Basic Teaser

   • Adjusts spreads/totals by fixed points.

   • Common in NFL: 2-team, 6-point teaser.

2. Alternative Teasers

   • 6.5- and 7-point teasers at reduced payouts.

3. Basketball Teasers

   • Often 4-point teasers (since scoring margins differ from football).

4. Parlay Mechanics

   • Like parlays, all legs must hit. Pushes are graded differently depending on sportsbook rules.

5. Key Numbers

   • Teasers are valuable only when crossing NFL key numbers (3 and 7).

---

🎯 In Practice

Teasers are most popular in NFL betting due to predictable scoring distributions.

• NFL Example:

  • Standard spread: Bills -8, Patriots +2.

  • 6-point teaser: Bills -2, Patriots +8.

  • If Bills win by 3 and Patriots lose by 7, teaser wins.

• NBA Example:

  • Lakers -6 teased to -2.

  • Combined with Over 210 teased to Over 204.

  • Higher scoring variance makes teasers less valuable in NBA than NFL.

Books promote teasers because casual bettors love the flexibility, but disciplined use of “Wong teasers” (crossing 3 and 7 in NFL) can provide small edges.

---

🔢 Example Bet

2-team, 6-point NFL teaser:

• Original lines:

  • Packers -8 vs Bears

  • Chargers +2 vs Chiefs

• Teased lines:

  • Packers -2

  • Chargers +8

Stake: $220 to win $200 (typical payout -110).

If Packers win by 3+ and Chargers lose by fewer than 8 (or win), teaser cashes.

---

💸 Pros and Cons

---

💡 Strategy Tips

1. Target NFL Wong Teasers

   • Tease favorites from -7.5 to -1.5 or underdogs from +1.5 to +7.5.

   • Captures both 3- and 7-point outcomes.

2. Avoid NBA Teasers

   • High scoring variability reduces value.

3. Shop for Payouts

   • Some books offer -120 instead of -110 on 2-team teasers. Always compare.

4. Don’t Overload Legs

   • Stick to 2-team teasers. Adding legs increases risk without improving EV.

5. Time the Market

   • Bet teasers after line stabilizes to avoid sharp late moves against your position.

---

📊 Best Use Cases

• NFL Close Matchups: Perfect for teasing spreads around 3 and 7.

• College Football: Selective value when lines are inefficient, but higher scoring makes riskier.

• Primetime Games: Casual teaser action inflates value if you shop lines early.

---

⚠️ Common Mistakes

• Teasing across non-key numbers: Moving -2.5 to +3.5 wastes value.

• Adding too many legs: Four-team teasers rarely profitable long-term.

• Using teasers in high-total games: More scoring = less valuable each teased point.

• Overvaluing flexibility: Just because line “looks safer” doesn’t mean EV is positive.

• Ignoring vig: Reduced payouts often make teasers -EV unless executed perfectly.

---

📌 Summary