What is a Teaser Bet?
Adjust the spread in your favor for lower payouts
7 min read
The Quick Answer
A teaser is a parlay where you get to move the point spread or total in your favor on each leg—in exchange for a lower payout.
Think of it as "buying" extra points across multiple games. A standard 6-point NFL teaser lets you add 6 points to each selection. If the Chiefs are -7, they become -1 in your teaser. The catch? All legs must still win, and the payout is much lower than a standard parlay.
Teaser Example: 6-Point NFL Teaser
Original Lines vs Teased Lines
| Game | Original Spread | Teased Spread (+6) |
|---|---|---|
| Chiefs vs Bills | Chiefs -7.5 | Chiefs -1.5 |
| Eagles vs Cowboys | Eagles -3 | Eagles +3 |
Standard 2-Team Parlay Payout
+264 (~2.64x)
2-Team 6-Point Teaser Payout
-110 (~1.91x)
Notice the tradeoff: you're much more likely to win the teaser (both teams only need to win or lose by less than 2), but the payout is significantly lower.
Standard NFL Teaser Payouts
| Teams | 6-Point Teaser | 6.5-Point Teaser | 7-Point Teaser |
|---|---|---|---|
| 2 Teams | -110 to -120 | -120 to -130 | -130 to -140 |
| 3 Teams | +150 to +180 | +130 to +160 | +110 to +140 |
| 4 Teams | +250 to +300 | +200 to +250 | +180 to +220 |
| 5 Teams | +400 to +450 | +350 to +400 | +300 to +350 |
Note: Payouts vary by sportsbook. Basketball teasers typically offer 4, 4.5, or 5 points with different payouts.
The "Wong Teaser" Strategy
Named after gambling author Stanford Wong, this is the most mathematically sound teaser strategy:
Wong Teaser Rules
- Use 6-point teasers only
Optimal balance of point value and payout
- Only tease favorites of -7.5 to -8.5
Crossing through 7, 6, 4, 3 to land at -1.5 to -2.5
- Only tease underdogs of +1.5 to +2.5
Crossing through 3, 4, 6, 7 to land at +7.5 to +8.5
- NFL football only
Key numbers (3 and 7) matter most in NFL
The logic: these specific point ranges cross multiple key numbers (3 and 7), maximizing the value of your 6-point adjustment. Historical data shows Wong teasers have the best win rates.
Teaser vs Parlay: When to Use Each
Use Teasers When...
- Lines cross key numbers (3, 7 in NFL)
- You're teasing through multiple key numbers
- Games are expected to be close
- You want higher win probability over payout
Use Parlays When...
- You're betting moneylines
- Spreads don't cross key numbers
- You've identified +EV legs
- You want maximum payout potential
Common Teaser Mistakes to Avoid
- Teasing basketball spreads
Key numbers don't exist in basketball like they do in football. The 6-point adjustment is less valuable when games don't cluster around specific margins.
- Using 7+ point teasers
The extra half-point or full point significantly reduces your payout without proportionally increasing win probability.
- Teasing totals instead of spreads
Point spreads have clear key numbers; totals don't cluster the same way. Teasing spreads is generally more valuable.
- Adding too many legs
Each leg you add increases variance. Stick to 2-3 team teasers for the best risk/reward balance.
Frequently Asked Questions
What is a teaser bet in sports betting?
A teaser is a type of parlay where you adjust the point spread or total in your favor on multiple selections. In exchange for more favorable lines, you accept lower payouts. For example, a 6-point NFL teaser lets you move each spread 6 points in your direction.
How many teams do you need for a teaser?
Most sportsbooks require a minimum of 2 teams (legs) for a teaser, with maximums typically ranging from 6-10 teams. Like parlays, all legs must win for the teaser to pay out. Some books offer "teaser+" products with different rules.
Are teasers better than parlays?
Teasers can offer better value than parlays in specific situations—particularly with 6-point NFL teasers crossing key numbers (3 and 7). However, standard parlays have better payouts. The right choice depends on the specific lines and your strategy.
What happens if a teaser leg pushes?
Push rules vary by sportsbook. Most commonly, a push reduces the teaser to fewer legs (a 3-team teaser becomes 2-team). Some books grade pushes as losses, so always check your sportsbook's house rules before betting.
What is a 6-point teaser?
A 6-point teaser is the most common NFL teaser, allowing you to move each spread 6 points in your favor. A team at -7.5 becomes -1.5, or an underdog at +3 becomes +9. The standard payout for a 2-team, 6-point teaser is around -110 to -120.