Sports betting has become increasingly popular over the years, with a multitude of options available for gamblers to wager on their favorite sports. One type of bet that has gained a lot of popularity recently is the teaser bet. With that in mind, let’s take a closer look at teaser bets, how they work, and provide some examples of how they can be used in sports betting.
What is a teaser bet?
A teaser bet is a type of sports bet you can find at the sportsbooks, that allows you to adjust the point spread or total for a game to your advantage. Essentially, a teaser bet combines multiple bets into one, allowing you to shift the lines in your favor. The catch is that you have to win all the bets in the teaser for it to pay out.
For instance, if a bettor wants to bet on a team that is a 5-point favorite, they can choose to “tease” the bet by adjusting the point spread to 7 points, making it easier for the team to cover the spread. However, the payout for a teaser bet is lower than a regular bet, because the increased chance of winning the bet reduces the overall risk for the sportsbook.
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Teaser bets are popular because they give bettors the chance to increase their chances of winning by shifting the odds in their favor. However, because of this added advantage, teaser bets typically come with lower payouts than traditional straight bets.
Teaser bets are often available for football and basketball games (NFL, NBA, NCAA, etc), and can be used for both point spread and total bets.
In a teaser bet, the bettor can adjust the point spread or total by a certain number of points, usually between 4 and 6 points. For example, if the original point spread for a basketball game is -10, the bettor could tease the bet to -6 or -4. If the total for the game is 200, the bettor could tease the bet to 204 or 206.
Teaser bets are typically offered on parlay bets, where the bettor must correctly predict the outcome of multiple games to win the bet. Teaser bets allow the bettor to adjust the point spread or total for each game in the parlay, making it easier to win the overall bet.
How do teaser bets work?
To understand how teaser bets work, let’s look at an example. Let’s say that the point spread for a basketball game between the Los Angeles Lakers and the Golden State Warriors is set at Lakers -5.5. If you place a teaser bet, you can adjust the point spread to your advantage by adding points to the Lakers or subtracting points from the Warriors.
For example, you could place a six-point teaser bet on the Lakers, which would shift the point spread to Lakers -0.5. Alternatively, you could place a six-point teaser bet on the Warriors, which would shift the point spread to Warriors +11.5.
If you bet on the Lakers to win and they do so by six or more points, your teaser bet would pay out. If you bet on the Warriors to lose by less than 11 points or win the game outright, your teaser bet would pay out.
Examples of teaser bets
Let’s look at some specific examples of how teaser bets can be used in, let’s say, basketball betting.
The Boston Celtics are playing the Toronto Raptors, and the point spread is set at Celtics -4.5. You place a six-point teaser bet on the Celtics, shifting the point spread to Celtics +1.5.
In this scenario, the Celtics would have to win the game outright or lose by one point for your teaser bet to pay out. If the Celtics lose by two points or more, or if the Raptors win the game, your teaser bet would be a loss.
The Houston Rockets are playing the San Antonio Spurs, and the total for the game is set at 220. You place a six-point teaser bet on the over, shifting the total to 226.
In this scenario, the total score for the game would have to be 227 or more for your teaser bet to pay out. If the total score is 225 or less, your teaser bet would be a loss.
The Miami Heat are playing the New York Knicks, and the point spread is set at Heat -8. You place a six-point teaser bet on the Knicks, shifting the point spread to Knicks +14.
In this scenario, the Knicks would have to lose by 13 points or less, or win the game outright, for your teaser bet to pay out. If the Heat win by 15 points or more, your teaser bet would be a loss.
Pros and Cons of Teaser Bets
Like any form of gambling, teaser bets come with advantages and disadvantages. In this article, we will explore the pros and cons of teaser bets to help you make an informed decision before placing your next wager.
Advantages of Teaser Bets:
- Increased Chances of Winning: One of the biggest advantages of teaser bets is that they increase your chances of winning. Teasers allow you to adjust the point spread or total in your favor, giving you a better chance of covering the spread or hitting the over/under.
- Reduced Risk: Teaser bets are considered to be less risky than traditional point spread or total bets. By adjusting the spread or total, you can reduce the amount of risk associated with your wager. This is particularly useful when betting on favorites, as it can be difficult to cover a large spread.
- Increased Flexibility: Teaser bets are more flexible than traditional point spread or total bets. This is because you can adjust the spread or total in your favor, giving you more options when placing your wager. This allows you to tailor your bet to your own personal preferences and risk tolerance.
- Higher Payouts: Teaser bets offer the potential for higher payouts than traditional point spread or total bets. This is because you are taking on more risk by adjusting the spread or total, so the payout is higher to compensate for this increased risk.
Disadvantages of Teaser Bets:
- Lower Payouts: While teaser bets offer the potential for higher payouts, they also come with lower payouts than traditional point spread or total bets. This is because you are taking on less risk with a teaser bet, so the payout is lower to reflect this reduced risk.
- Limited Options: Teaser bets are limited in terms of the number of games and sports that you can bet on. This is because not all sportsbooks offer teaser bets, and those that do may have restrictions on the types of games and bets that you can place.
- Increased Vigorish: Teaser bets come with an increased vigorish (or commission) compared to traditional point spread or total bets. This is because you are taking on more risk with a teaser bet, so the sportsbook charges a higher commission to compensate for this increased risk.
- Lower Betting Limits: Teaser bets often come with lower betting limits compared to traditional point spread or total bets. This is because teaser bets are considered to be less risky, so sportsbooks may limit the amount of money that you can wager on a teaser bet.
Teaser bets can be a useful tool for basketball bettors looking to increase their chances of winning. By shifting the point spread or total to your advantage, you can improve your odds of winning your bet.
Teaser bets offer a way to potentially increase your chances of winning and reduce the risk associated with traditional point spread or total bets. However, they also come with disadvantages such as lower payouts, limited options, increased vigorish, and lower betting limits. Before placing a teaser bet, it is important to weigh the pros and cons and determine whether it is the right type of bet for your personal preferences and risk tolerance.