Basically all sportsbooks accept teaser sports betting action these days, so most of them are going to be pretty standard. Same Game Parlay and the ability to parlay player props and futures will be different from book to book. Teasers are pretty much what they are across the industry.
You may find subtle, little differences here and there, but this is more or less a list of the top US sportsbooks because teasers are pretty boilerplate across the industry.
Does anybody really like to be teased? It sure feels like more of an annoyance than anything else. Like either do it or don’t, right?
Well, in a betting context, a teaser can be a very powerful weapon. What it means to “tease a bet” is to add or subtract points from the line to create a more favorable scenario. Teasers are predominantly used in the NFL, but there are some people that will tease the NBA or college football or basketball.
The best example of a teaser is to look at the NFL, so let’s explain what we’re talking about. There are a number of teaser varieties for football. Most sportsbooks will offer a 6-point teaser, a 6.5-point teaser, a 7-point teaser, or a 10-point teaser. If you “tease a favorite” or “tease the over”, you subtract that number of points from the line. If you “tease a dog” or “tease the under”, you add that number of points to the line.
For example, take the Tampa Bay Buccaneers against the Washington Football Team in the Wild Card Round of the 2020 NFL Playoffs. Tampa Bay was -8.5 with a total of 45.5 before the line eventually closed at -10. Let’s say that you like Tampa Bay in the game, but don’t want to lay -8.5. You can execute a 6-point teaser and bring Tampa Bay down to -2.5.
But, you cannot do this alone. A teaser is like a parlay, in that you have to have multiple bets on one betting ticket or Bet Slip. In order to tease Tampa Bay down from -8.5 to -2.5, you might have chosen to tease the Buffalo Bills down from -7 to -1. You could have teased the total on Ravens vs. Titans up from 52 to 58 to bet the under. Or down from 52 to 46 and bet the over.
With teasers, all you have to remember is that you take points off of the line on the favorite and the over and add points to the line on the underdog and the under.
The optimal teaser strategy, at least for the NFL, is called a Wong Teaser after Stanford Wong. That means teasing through numbers that allow you to get 3 and 7, which are called “key numbers” in the NFL. That would mean doing something like teasing a +1.5 underdog up to +7.5 or a -8 favorite down to -2.
Teasers are best used in relation to the total on a game. For example, if a team is +2.5 and the total on the game is 45, those six points to go up to 8.5 are more valuable than they would be if the total on the game was 55.
Teasers can also be used in college football, but that is usually a bad idea because college football games are high-variance in nature.
Some people like to tease the NBA. Basketball teasers are different from football teasers. Football teasers are 6, 6.5, 7, and 10 points. Basketball teasers are usually 4 or 5 points. Sometimes this can be really beneficial with late-game fouling and also when teams decide to stop fouling. Usually once a game reaches a score disparity of more than three possessions, teams stop fouling. As a result, you might see bettors tease underdogs up from +7 to +11 or favorites down from -10 to -6.
While parlay betting usually just mean increasing the payout odds with more risk to get every game right, teasers are a more mathematical version of parlays. These are a lot more popular among serious bettors, especially in the NFL. These can really be used to your advantage if you know the value of a number.
Unlike parlays, teasers do not apply to things like player props or derivatives like first half or first quarter lines. Teasers apply to the spread and total on a game. As a result, they have smaller payout odds, especially because you are making the line more favorable in your direction.
For example, a two-team, 6-point teaser pays back -110 at most places. That is the standard odds for a regular spread or total bet. Teasers also have a smaller number of options. With some sportsbooks, you can parlay maybe 10 or 15 things. With teasers, most cap the number of bets on one ticket at eight.
Parlays are certainly viewed as more fun and potentially more profitable if you get lucky and hit one, but teasers can create some +EV situations.