Teaser betting is a type of parlay that allows bettors to adjust the point spread, making the bet easier to win. However, if that was all there is to teaser bets, everyone would be doing it, and sportsbooks would have trouble staying in business.

Let’s take a deeper look at the ins and outs of teaser betting, including what teasers are, how they work, and why players should or should not consider betting them.

A teaser bet is a type of parlay in which bettors can alter the point spread, making it easier to win. Sportsbooks, of course, do not allow bettors to do this out of kindness. The potential payout is also altered depending on how much the point spread shifts.

Let’s use the conference championship games from the 2023 NFL season as an example. The Ravens were a 4.5-point favorite over the Chiefs, and the 49ers were a 7.5-point favorite against the Lions. For a six-point teaser, you could buy six points, changing the point spreads to Chiefs +10.5 and 49ers -1.5.

Now, let’s say the Ravens beat the Chiefs 17-10 and the 49ers won 34-31. Since the Chiefs spread was +10.5 and the 49ers -1.5, you win both legs and your teaser hits.

The “what” part is not hard to understand, but the “how” is a little more involved.

For example, you can’t change the spread on one leg by three points, another by ten, and a third by seven points.

Bettors can adjust the spread of all legs by a given number of points.

Changing the point spread makes it easier for you to win the bet but sacrifice your potential payout in the process.

Also, it depends on how much you alter the point spread and the sportsbook.

Each sportsbook will use its algorithm to calculate the new, lower payout.

Teaser betting is popular in football and, to a lesser degree, basketball at the best sports betting sites.

For example, follow these steps to place a teaser on Caesars:

1. Choose the spreads for at least two games to create a parlay.
2. Underneath the summary of your parlay on the betting slip will be “TEASER.”
3. Click on the button next to it to activate the teaser.
4. Choose how much you want to alter the spreads.
5. Caesars will adjust the spreads accordingly and recalculate the odds.

Here is a teaser bet at Caesars that involved two of the First Four teams of the 2024 NCAA Men’s Tournament: 

Before you start sports betting in this fashion, you should consider what some of the pros and cons are:

Depending on the sportsbook you use, you may not be able to move the original point spread as much or as little as you want.

It is not in the best interest for everyone, nor is it available for every sport. Let’s take a look at teaser bets specific to the four major North American professional sports leagues:

Here’s an example of a teaser involving NFL games:

With most NFL games involving relatively low scores (compared to basketball), buying three, six, seven, or ten points can be the difference between winning and losing. The payout will be less than a standard parlay but better than if you made a series of straight bets.

NFL teasers are more popular since buying a few points is more likely to have an impact.

An NBA teaser will work just like an NFL one. You will buy points to shift the spread in your favor. For example:

These are not as popular as NFL teasers because a few points do not have the same impact on basketball teasers. However, if you want to place an NBA teaser, we suggest leaning towards heavy road favorites and home underdogs. Every team tends to play better when they are at home, making a game more entertaining and competitive but frustrating to spread bettors.

But if you bet on a six-point teaser and can shift a road favorite from +10 to +4 and a home underdog from +3 to +9, you have a better chance of winning.

Teaser bets are typically not a sports betting option for NHL and MLB games at online sportsbooks since the final scores are so low. It’s not uncommon for an NFL score to total 45 points or an NBA game to total 230. But scoring opportunities are usually few and far between in the NHL and MLB; game totals are often less than ten.

Sportsbooks will adjust teaser bet odds and payouts as they see fit using their algorithm. The following table will show the odds for a standard NBA parlay (each leg starts at -110) and the change in odds as you buy points (at Caesars Sportsbook):

What happens if one of the legs in your teaser is graded as a push? If a standard bet grades out as a push, bettors get their stake back. You don’t win, but you don’t lose. A similar concept is applied to teaser bets:

It’s also important to keep in mind that some sportsbooks do consider a push a loss when it comes to teasers. It’s extremely vital to check out your preferred operator’s house rules before locking in any teasers for this exact reason.

In this section, we’ll review the basic steps for placing an NBA teaser bet with an online sportsbook:

Websites and mobile sports betting apps are excellent in their own right, but nothing beats the experience inside a retail sportsbook at your nearest casino. Follow these steps to place a teaser in person at a retail location:

Looking for a teaser betting strategy? Here are some common ones used when betting teasers at online sportsbooks:

Reverse teasers (pleasers) are just like teaser bets in that they are parlay bets with the point spreads and odds adjusted. But rather than move the spread in your favor, you move it in favor of the House.

Why would you want to do that? Doesn’t that mean your wager will be harder to win? Yes, winning will be more challenging, but the payout will also be higher.

Here is how you can place a reverse teaser bet on men’s college basketball at FanDuel:

1. Create a parlay bet by choosing the point spreads for 2+ games. Ex: Mississippi State +1.5 (-115), Duquesne +9.5 (-110), Akron +13.5 (-115). Parlay odds: +567
2. At the bottom of the bet slip, click “Teasers & Round Robins.”
3. Click on “Teasers.”
4. You want to make it harder for underdogs to cover, so click “-” until the number reads -5. Spreads then become: Mississippi State -3.5, Duquesne +4.5, and Akron +8.5. Teaser odds:+1057
5. Enter how much you want to bet.
6. Place your wager.

Below, we cover some of the industry’s most common questions regarding teaser betting. For more information on teaser betting at a specific sportsbook, check out the site’s house rules.

Parlays use the odds the sportsbook has listed for each leg, while teasers allow bettors to move the spread in their favor. As a result, the bet’s odds will be shortened when betting a teaser.

With an open teaser bet, bettors can add legs to an existing bet as long as at least one leg has not settled and there are no losing legs.

Here is an example of a two-team teaser: