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Teaser Betting Rules
by Trevor Whenham - 12/31/2009
Teasers aren't the first tool that most serious bettors look at to make a profit. In the right situations, though, they can be both profitable and a lot of fun. One reason why bettors don't always embrace them is the confusion over teaser betting rules. The rules are at least a little bit different at each different sportsbook, and those seemingly small differences can make a big impact on the bottom line if you aren't aware of them. Here's a look at the important teaser betting rules that you need to be aware of.
Before we get to the nitty-gritty, we really should look at a definition of teasers. A teaser, like a parlay, is a bet on multiple games - two or more - and you must be correct in all of the games in order to cash your ticket and make a profit. They are most common in football and basketball - the sports most often bet against the spread. What makes teasers special, though, is that you get to adjust the point spread. A typical football teaser, for example, is six points. That means that you get to take six points off the spread of a favorite, and add six points to the spread of an underdog. For example, a -10 favorite would become -4 in a six-point teaser, while a +10 underdog would be +16. Now for those teaser betting rules:
Number of points - The first thing you need to be aware of is the number of points added to each game. The standard is typically six in football and 4.5 in basketball, but those can vary widely. As any sports bettor knows, even just a half point in a spread can make a big difference. You can find football teasers as low as five points and as high as 20, and basketball anywhere between four and 16. You need to know the number of points you have, and make sure that the adjusted spreads are favorable for you.
Payout - The payout in a teaser is fixed - it doesn't change based on the teams involved. Each sportsbook sets their own payouts, though, and they can vary widely. When you are making a teaser bet you need to shop around to find the best price for the number of teams you are betting. Some books generally have better teaser payouts than others, but they won't necessarily have better payouts for all of the possible teams involved. Over the long run a difference in payout can obviously make a big difference to the bottom line, so looking for the best payout is crucial.
Ties - This is the single biggest rule that you need to be aware of - how the book handles ties. There are four different ways that a book can handle it if one of your games ends exactly on the number. Some books treat a tie as a win. Others reduce the number of teams in the teaser by one - if you bet a four-team teaser and have a tie and three wins then it will pay off like a three-game teaser. Others will treat a teaser with a tie as no action - they'll return your bet - as long as you win your other bets. Finally, some books will treat a tie as a loss. Each of those is a very different situation, and can affect your return significantly. You need to be aware of what the book offers, and make sure that it fits your needs. There isn't necessarily one situation that is better than another, but you need to make sure that the potential return adequately reflects the risk you are taking.
Maximums - There are two potential issues you may need to consider here. First, the maximum amount you can bet on a teaser may to too low for you. Many books minimize their risk in teasers by making the maximum bet much lower than it is for a straight bet. Some books also put a maximum on the amount they will pay out for a teaser. That could mean that a large bet on a teaser with several teams involved which should pay out for more than the maximum will return less than the stated odds. Over the long term that's a real problem.
Different online books have different strengths when it comes to teasers. Here's a couple of sportsbooks that do well on many fronts, though:
5Dimes - 5Dimes offers a wide range of teaser options, with football teasers available from everything from five points to 20, and basketball from 4.5 to 16. They also offer two different options for ties - they can either be counted as winners, or the number of teams in the teaser can be reduced by one. The reduce option pays a little better than the win option. 5Dimes also offers prices that are competitive with most books in most situations, and better in many.
Bookmaker - Though Bookmaker offers fewer options than 5Dimes, and is less generous with ties (they treat them as no action if the rest of the bets are a win), their prices are attractive when you are involving more teams.
The price you’ll typically pay on a two-team 7-point teaser is right around -120, meaning you will need to risk $120 for every $100 you want to win on that wager. The most common college football teasers are 6, 7 or 10 points. The standard is 2 teams for both 6 and 7 point teasers and 3 teams for 10 point teases. Check Up On Las Vegas SuperContest® Payouts online at Westgate Las Vegas Resort & Casino. View payout status and return often to view standings, selections and mini selections at the world's #1 football handicapping challenge. The parlay odds at most Las Vegas sportsbooks are: 2 teams 2.6 to 1 3 teams 6-1 4 teams 10-1 5 teams 20-1 6 teams 40-1 7 teams 80-1 8 teams 150-1. Online the odds are similar, though some sites such as BetNow and MyBookie offer better odds starting with three teams and up. What’s important to note is that these are fixed odds based on a 50/50.
Most Recent Sports Betting 101
Teasers are one of the more advanced wagers in sports
betting. This is a wager you should definitely learn about
though, even as a beginner, as it provides opportunities to
place relatively low risk wagers which can still provide a good
return.
In this article we explain in detail how teasers work, but we
should point out that you need to already understand a few
things if it’s going to make any sense to you. For one thing you
should know how odds work, because odds are a basic component of
any wager. You should also know how parlays, point spread bets,
and totals bets work.
If you’re not yet familiar with any of these subjects, you
can find what you need to know on the following pages.
The Basics of Teasers
Teasers are essentially a type of parlay, in that they
involve making multiple selections as part of a single wager.
All selections have to win for the bet to be successful. The
selections included in a teaser must be based on either point
spread bets or totals bets. As such, teasers are typically
available only for football and basketball.
The main feature of teasers is that you are able to move the
spreads or totals lines in your favor, increasing your chances
of winning. Let’s take a look at the betting for an upcoming
football match so we can explain how this works in practice.
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As you can see, the Kansas City Chiefs are given 3.5 points
on the spread here. If you were including a point spread bet on
the Chiefs in a parlay, or just making a straight bet on the
spread, you would need them to lose by three points or less (or
win). As a selection in a teaser, however, they would be given
extra points. If you included them in a six point teaser, for
example, they would be given 9.5 points on the spread, meaning
they could lose by up to nine points and the selection would
still be a winner.
The same principle applies if you’re betting on the totals.
The line is set at 46.5 for this match, which means if you went
for the over you would need the total points scored to be 47 or
more. In a six point teaser the line would be moved to 40.5,
which means 41 or more would be good enough. If you went for the
under, the six point swing would be in the other direction, and
the line would move to 52.5.
As you can see, teasers can make it significantly easier to
get your selections right. The downside is that the payouts are
lower than in standard parlays, which we’ll get to later.
Teaser Variables
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The main variable with teasers is the number of points that
the spread or totals lines are moved by. With football teasers
you’ll find most bookmakers and online betting sites offer
three options – 6, 6.5, and 7 points. With basketball the three
options are usually 4, 4.5, and 5 points. These aren’t set in
stone though, and some places will offer even more flexibility.
Another variable is the number of selections you include in a
teaser. With most bookmakers, online and offline, the minimum
allowed is two and the maximum allowed is ten. This isn’t
always the case though. Some places may require more than two
selections or allow more than ten.
The payouts for teasers also vary. The more the spreads and
lines are moved in your favor, the lower the payouts will be. So
a 7 point football teaser will have lower payouts than a 6 point
football teaser. Payouts also change based on the number of
selections, as they do with a standard parlay. The more
selections included, the higher potential payouts. Remember,
though, that including more selections also increases the
chances of one or more of them losing.
Example Payouts
The following charts show some example payouts based on the
number of points and the number of selections. Please note that
the payouts for teasers won’t always be exactly the same with
every bookmaker and sports betting site, but the examples here
provide a good guide.
| Football Teaser Payouts | |||
|---|---|---|---|
| # of Selections | Payout Odds (6.0 Points) | Payout Odds (6.5 Points) | Payout Odds (7.0 Points) |
| 2 | 10/11 | 10/12 | 10/13 |
| 3 | 9/5 | 8/5 | 7/5 |
| 4 | 3/1 | 5/2 | 2/1 |
| 5 | 9/2 | 4/1 | 7/2 |
| 6 | 6/1 | 11/2 | 5/1 |
| 7 | 10/1 | 9/1 | 8/1 |
| 8 | 15/1 | 12/1 | 10/1 |
| 9 | 20/1 | 15/1 | 12/1 |
| 10 | 25/1 | 20/1 | 15/1 |
| Basketball Teaser Payouts | |||
|---|---|---|---|
| # of Selections | Payout Odds (4.0 Points) | Payout Odds (4.5 Points) | Payout Odds (5.0 Points) |
| 2 | 1/1 | 10/12 | 10/13 |
| 3 | 9/5 | 8/5 | 7/5 |
| 4 | 3/1 | 5/2 | 2/1 |
| 5 | 9/2 | 4/1 | 7/2 |
| 6 | 6/1 | 11/2 | 5/1 |
| 7 | 10/1 | 9/1 | 8/1 |
| 8 | 15/1 | 12/1 | 10/1 |
| 9 | 20/1 | 15/1 | 12/1 |
| 10 | 25/1 | 20/1 | 15/1 |
Teaser Example
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To further illustrate exactly how teasers work, we’ll look at
an example teaser based on the following three football matches.
Let’s assume you decide to place a three team, six point
teaser, for a stake of $50. You select the Kansas City Chiefs,
the Dallas Cowboys, and the Atlanta Falcons on the spread. You
would need the following three results to win this teaser.
- Kansas City Chiefs to win, or lose by nine points or
less. - Dallas Cowboys to win, or lose by less than nine points.
A nine point loss would be a push. - Atlanta Falcons to win, or lose by a single point. A two
point loss would be a push.
If all three results came in, then you would win $90 based on
odds of 9/5. You’d also get your stake back of course. If just
one result went the wrong way, you would lose your $50 stake.
You can see that a push is a possibility in two of the games.
The rules relating to pushes varies at different bookmakers and
betting sites, but what generally happens is that a push means
that selection is effectively removed from the wager. If the
Cowboys lost by exactly nine points, for example, then that
selection wouldn’t count anymore. You’d be left with a two team
teaser. If the other two results came in, then you would win at
reduced odds of 10/11.
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Now that you understand how teasers work, you might want to
learn how best to use them to your advantage. We can help you
with this, because we have provided a strategy article with advice on
football teasers.