Teaser bets, sometimes called teaser cards, are a unique type of sports wager that allow bettors to adjust the points spread in their favour on combined bets. Understanding what teaser bets are and how they work is important for those new to sports betting.
What Are Teaser Bets?
A teaser bet combines two or more wagers into a single bet, allowing the bettor to adjust the points spreads in their favour. The catch is that the payout odds are lower than if you placed each individual wager separately.
For example, a bettor could combine a bet on two football teams in a 6-point teaser:
- Team A -6.5 points
- Team B +3.5 points
The bettor would move each line 6 points in their favour:
- Team A -0.5 points
- Team B +9.5 points
This makes it easier for both bets to win, though the potential payout is less than wagering on each game separately. A $100 standard bet on Team A at -6.5 points might pay 1.91, while Team B at +3.5 points might be 2.00. But combined in a 6-point teaser, the payout may only be 1.83 for the $100 wager.
How Do Teaser Bets Work?
There are a few key factors that determine teaser bets:
- Number of teams/legs – Teasers can include 2 to 12 teams/legs in a single wager. The more teams, the harder it is to win and the worse the odds become. A 12-team teaser may pay out at 6.00 or longer.
- Points adjustment – The bettor chooses how many points to adjust the spread, usually 6, 6.5 or 7 points. More points mean worse odds due to the larger spread adjustment.
- Odds and payouts – Due to the adjusted spreads in the bettor’s favour, teaser payouts are lower than straight bets. A typical 6-point, 2-team teaser is often 1.83, while a 3-team teaser may pay out at 1.77.
- Ties – In football and basketball, a teaser leg that ends in a tie is considered a loss. In hockey or baseball, a tie typically results in a push where the bet is refunded.
Teaser Strategy Tips
There are some strategic tips to consider when betting teasers:
- Stick to 2-team teasers – More than 2 teams greatly reduces your chances of winning.
- Bet on totals – Moving a points total 6 points in your favour has higher chances of winning than adjusting spreads.
- Avoid big favourites – Large NFL favourites can often still lose after a 6-point adjustment on the spread.
- Watch for key numbers – Adjusting a spread across key numbers like 3 or 7 points can provide an advantage.
- Shop for the best lines – Look for games where the original spread is on or near those key numbers to maximise teasers.
Teaser Bet in Action: A Real-World Example
Imagine it’s a weekend in the NFL season, and you’re interested in placing a teaser bet on two high-profile matches:
Game 1:
Dallas Cowboys vs. Philadelphia Eagles
Original Spread: Cowboys -4.5
Game 2:
Green Bay Packers vs. Chicago Bears
Original Spread: Packers +3.5
You decide to place a 6-point teaser bet. Here’s how the adjusted spreads would look:
Teased Spreads:
Dallas Cowboys vs. Philadelphia Eagles: Cowboys +1.5 (adjusted from -4.5)
Green Bay Packers vs. Chicago Bears: Packers +9.5 (adjusted from +3.5)
For your teaser bet to be successful:
The Cowboys must not lose by more than 1 point. Even if they lose by just 1 point or win the game, you cover the teased spread.
The Packers must not lose by more than 9 points. A loss by 9 or fewer points, or a win, means you cover the teased spread for this game as well.
Match Outcomes:
Dallas Cowboys vs. Philadelphia Eagles: Cowboys win 24-23
With the adjusted spread of +1.5 for the Cowboys, you’ve covered this leg of the teaser since they won.
Green Bay Packers vs. Chicago Bears: Packers lose 28-20
With the adjusted spread of +9.5 for the Packers, this leg of the teaser is also covered since the Packers only lost by 8 points.
Since both legs of your teaser bet were successful, your entire teaser bet wins!
This example illustrates the appeal of teaser bets. Even though the original spreads might have been risky, adjusting them with a teaser provided a cushion, making the bet more favourable. However, it’s essential to remember that while teasers can increase the chances of individual legs winning, the need for all legs to win for a payout adds a layer of complexity and risk.
Are Teaser Bets Profitable?
While teaser bets may seem enticing for getting better lines, they generally are not a profitable long-term betting strategy. The reduced payouts offset any advantage gained from the adjusted point spreads in most cases.
However, teasers can be useful for risk mitigation in certain specific high-value situations where the adjusted lines offer significant value. But they should be used selectively as part of a broader betting approach, rather than relied on as a primary strategy. Proper bankroll management is still critical if using teasers.
In summary, teaser bets allow combining multiple wagers and adjusting the lines in the bettor’s favour in exchange for reduced payouts compared to standard bets. Understanding the mechanics of teasers, from how they work to optimal strategy, is key for using them successfully as part of a diversified sports betting plan. While not a magic path to profits, they can provide situational value when used selectively with proper discipline and money management.
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