What is a Teaser Bet?

A teaser bet is a type of wager bookmaker that offers different payout options depending on the game's result. It's a prop bet with different possible payouts depending on the game's result or other factors such as team performance and halftime score. Essentially, a teaser bet lets you play the featured game at your own risk with five different payout options.

What is the Difference between Teaser Bets and Parlay Bets?

A teaser bet is similar to parlays in that it's an extended prop bet that allows bettors to get more value from their bets than usual. However, unlike parlays which involve multiple teams playing at once and have pre-set payouts regardless of what happens in those games, teasers have payouts that vary based on the exact final score of each match.

Teaser Bets Explained with Example

Let's say you have a bookmaker that offers 10 different teaser bets. One of these bets is a teaser bet where the payout is the same for every team that loses in the game. In this example, if you choose to bet on this particular teaser, your payout will be $100 if all ten teams lose. On the other hand, if you bet on this teaser and all ten teams won, your payout would change depending on which team won and how much.

For example: If the final score were 80-72 and your team lost by two points, you would get $40 back ($100 minus the win bonus of $20). If your team won by two points but lost by four points or less, you would get back $40 ($100 minus a win bonus of $20). But if your team won by four points or more, you would get nothing back ($100 minus a win bonus of $20). Study the table below to understand how the teaser payouts work in football. It shows how the payouts differ based on the team size and points in question.

As you can see, the payout structure completely changes depending on team size and points.

You can also use a parlay betting approach with teasers instead of single wagers. For example, let's say that bookmakers offer three different teaser bets for each game: one where an underdog wins and gets paid out at a specific rate; one where an underdog loses but gets paid out at another rate; and one where an underdog wins and gets paid out at yet another rate. Then, let's say that you have $100 in your betting account and want to bet on all three teasers.

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If you were to bet on only one teaser, you would get paid out at a rate you selected plus a win bonus. But if you chose to bet on all three, you would get paid out at the rate selected for one teaser instead of getting paid out at the rate selected for two teasers. In this case, your payout would change depending on which teams won and how much.

How to Calculate Teaser Bets?

If you are interested in finding out how to calculate teaser bets, then you should first be familiar with the formulas for odds and payout percentages. There are many different ways to calculate teaser bets. The easiest way is to divide the odds by the number of teams you want to win to calculate how much you will get back if your team wins.

To calculate the payout percentage for a teaser bet, you must know the odds of each team winning. If a team wins by less than four points, then there will be no win bonus, and your payout will be based on whether or not your team lost by less than four points.

On the other hand, if your team won by more than four points, then your payout is based on how much they won. For example: If a team wins by 40 points, your payout is 40% of $100 ($40). But if they win by 50 points, your payout is 50% of $100 ($50).

What is a Teaser Bet Payout Like?

If you win a teaser bet, you will be paid 100% of your stake back. If you lose a teaser bet, then you can receive up to the odds of your stake back (which is the amount that you originally risked) minus $20. So if you bet $100 on a team to win by 1 point and they won by 2 points, you would only get paid back $80 (because your loss was $20).

Are Teaser Bets a Good Strategy?

Teaser bets can be a good way to make money if you're willing to take a risk. They can also be a good way to hedge against other types of bets. That's why teaser bets are so popular among sports bettors. Teaser bets are also very popular because it's easy for anyone to place them.

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Types of Teasers

There are two major types of teasers; the super teaser and the Vegas teaser. The super teaser, also known as the special teaser, big teaser, or monster teaser, will enable you to select three, four, or even five teams. It gives many points to add or subtract from the spread selection. The result is that the bettor gets less amount than the money at stake. The second is the Vegas teaser, which combines a parlay and the super teaser. It often results in a high payout. Here are examples of the two teasers.

Super Teaser Example:

A three-team super teaser bet will be complete within one push and generally offers a -110 to a -130 pricing. For example, let’s say that there are three teams that you want to bet on, A +1.5, B -11.5, and C -2.5. Instead of betting straightforwardly at -110 or -105, you can put them in a super teaser. When you do this, you will have one single bet of A +11, B -1.5, and C +7.5. This means that each spread will be moved 10 points. As the bettor, you need to risk any amount between $11 and $13 for every $10 you desire to win. It all depends on the sportsbook you choose.

Vegas Teaser Example:

The Vegas teaser is a combination of the parlay and super teaser. Commonly known as just ‘Teaser’, it involves two to fifteen teams. The higher the number of teams, the higher your payout. For instance, if your teaser is priced at -120, you need to risk $12 to win $10. If none of the teams cover the provided new spreads, you will lose your $12.

What are Reverse Teasers, and How Do They Work?

Commonly known as pleasers, reverse teasers enable the bettor to add or subtract a particular number of points and then bet. For instance, if you bet on the spread, you will place a reverse teaser on the favored team instead of the spread. While they enhance the risk of losing the bets, the potential payouts are massive.

Top 3 Betting Strategies for Teaser Bets

1. Use Both Types of Teasers

This involves using a combination of super teasers and Vegas teasers. Use this when you strongly feel about which side will win the game and place a bet on that side. For example, if you think that one team will win, place the bet on that team and mix in a few super teasers with the bet.

2. Betting on Reverse Bets

Another way of increasing your odds of winning is by betting reverse teasers. This is when you bet against a certain side of an underdog or favorite team's teaser bets.

3. Betting on Unfavorite Teams

You can do this by placing a bet on the underdog team and then placing a teaser bet at double odds for the favorite side. For example, if you think the favorite team will win, place a bet on them and then place two teasers at double odds for the underdog side.

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Teaser Betting FAQs

Does a teaser bet offer a better payout than parlays?

It depends. The two bets seem to have similar repercussions. They both involve tying multiple bets into one, which may result in a huge win or loss. It goes both ways.

Can you tease total bets?

Yes, bettors can tease the total bets. It mostly happens in NFL betting. A teaser bet works by making adjustments to the point spread. In NFL, teasers enable a bettor to change the lines and invent more winnable bets. While you can tease totals, it is not always profitable.

Are teaser bets worth it?

While the potential wins in teaser bets are massive, the losses can also be huge. As such, their worth depends on how well a bettor can predict and use the strategies.

Which sport has the most teaser bets?

Football bettors commonly use teaser bets.