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.
When is a teaser actually worth taking?
Only when the six points carry you through both key numbers. Outside these windows you are paying teaser pricing without crossing the margins that make teasers work.
- 6-point teasers only — longer teasers give back more than the extra points are worth
- Favourites −7.5 to −8.5, teased down to −1.5 to −2.5
- Underdogs +1.5 to +2.5, teased up to +7.5 to +8.5
- NFL only — this rests on 3 and 7 being the common margins, which is an NFL property. See NFL key numbers.
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.
Related Glossary Terms
Teasers are one instrument. Most weeks, the edge is in the number.
The FairLine™ prices every game against the whole market, so you can see where a spread is already better than fair before deciding whether teasing it adds anything.
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