From the outside, teaser bets can often look to be some of the most complicated bets on a betting site. However, when you look at them in a bit more depth, they really aren't. In fact, they are just two types of bet rolled into one; a point spread and a parlay. There is a small caveat when you combine them, but even that isn't too tricky to understand.
On this page, we are going to walk you through what a teaser bet is. We are also going to give you a bit of advice on when you should be using one.
As we said, a teaser involves understanding two specific types of bets, so let's run you through them.
As you may know, a point spread is a way to bet on what you believe the difference between points between the two teams at the end of the game is. For example, you may see the following:
- Team 1 +5.5
- Team 2 -5.5
In this case, team 1 is the favorite. In order to win the point spread, they need to beat team 2 by at least 5.5 points. If they fail to do so, then team 2 win in the eyes of the bet.
The point spread essentially helps to bring an underdog to a level playing field. It makes the game tougher to predict but will allow it to deliver greater rewards, as a result.
A parlay is a combined bet. You add multiple betting lines to your parlay (they can be in the same game, or multiple games). In order for a parlay bet to be a winner, you have to win every single line on it. However, the risk is sometimes worth it. The odds can get much better the more betting lines you add.
Understand both of those? Fantastic! Now we can describe a teaser bet.
A teaser bet essentially allows you to ‘buy' points. This means that you can change up the way in which the point spread works. For example, if you put together a teaser bet and wanted to ‘buy' 6 points, then our previous example would look like this:
- Team 1´+11.5
- Team 2 – 11.5
If you bet on the underdog in your teaser bet, then you are going to be reducing the odds. This is because you are reducing the risk. You are giving more of an opportunity for the underdog to win.
If you bet on the favorite, you are lengthening the odds. You are saying that you believe that the favorite is going to win by a much larger point haul and, if they don't, you will lose the bet. This means more rewards, but greater risk.
In order for a teaser bet to work, you will often have to build a parlay out of at least 2 point spreads in separate matches. You then request a teaser bet from the online sportsbook. You can decide how many points you want to buy. It doesn't have to be 6. It can be less. It can be more.
How you build a teaser bet will be dependent on the online bookmaker that you are using. Not all of them will allow you to put together teaser bets, and those that do will have a slightly different process.
In most cases, you can build the teaser bet up by adding at least two different point spreads to your betting slip. If there is a parlay option on the betting slip, then you can click that. This may give you the option to turn the bet into a teaser bet. If you can turn the bet into a teaser bet, then you will be told so. At this point, you can then choose the number of points that you want to buy for your teaser.
Remember, the more points that you buy for your teaser bet, the more the odds will change. How they will change will be dependent on whether the bet is on the underdog or the favorite.
It is also important to note that you can mix the bets up a little bit. For example, in one game, you can bet on the underdog. In another game, you can bet on the favorite.
You are also allowed to add as many point spreads to your teaser bet as you want. However, the more you add, the riskier things start to become. Hefty teaser bets may benefit more from the inclusion of larger point buys, just to reduce the risk somewhat.
Let's go through the pros and cons of a teaser bet, shall we? By working through these pros and cons, you may be able to learn in which situations it may be wise to place a teaser bet, and when you may want to steer clear.
Pros of a Teaser Bet
The major pro of a teaser bet is that you are going to be able to reduce the risk of placing a point spread.
In the case of a favorite, you may find that they are underpriced. This means that you believe they are going to win by even more points then the market has priced them at. This means that if you go all-in on a teaser bet, you could walk away with greater rewards than hitting that point spread.
If you want to bet on the underdog, then a teaser bet will often be used when you believe that the underdog may suffer larger losses than the sportsbook predicts. By buying into the point spread, you are reducing the risk. However, you are also cutting into the rewards.
Basically, a teaser bet is great for those that really want to play about with their potential rewards from a point spread.
Cons of a Teaser Bet
The major con of a teaser bet is the fact that they are going to need to form part of a parlay bet. This means that you will have at least two points of failure on a teaser bet. The risk is higher. Some people hate parlay bets because you could get everything right on some of the lines, but just a single line miss can stop the win coming through.
Secondly, if you buy too many points for the underdog, then the odds are going to be woeful. It may not even be worth a bet. If you buy too many points for the favorite, then the risk is going to be extraordinary. Your risk is shooting all the way up. Some people may find that placing a teaser bet on a favorite is just throwing cash away.
If you want to make a teaser bet work for you, then you need to do a ton of research into the potential outcome of a game.
A teaser bet may look difficult, but it is really simple when you get the hang of it. A teaser will allow you to increase the risk when you bet on a favorite, and reduce the risk when you bet on the underdog. You really get to tailor the bet to your own risk standards. Some people love it. Some people hate it. We reckon that once you understand them, you will fall into the former category.