If you’re new to sports betting, it won’t take long to figure out that the sportsbooks are pretty good at setting the betting lines. It’s hard enough for bettors to pick a winning team, let alone cover a point spread. Sometimes we all need a little edge when it comes to betting lines – and for that, we have the teaser.
Let’s take a look at what a teaser is and how you may be able to use it to your advantage when it comes to md sports gambling.
How Does a Teaser Bet Work?
In the sports betting world, a teaser is an adaptation of a parlay bet that lets the bettor move the point spread (or over/under) a certain number of points in their favor. While that all sounds great, it does come at the cost of reduced odds. Sportsbooks are no dummies.
Teaser bets are commonly used for wagering on football, and the most popular is a 6-point teaser. This type of bet allows you to add or subtract six points to or from either team. Some sportsbooks will offer variations of teasers, including 6.5-points, 7-points, etc.
Teasers must be a minimum of two bets (or legs), and like a parlay, you have to hit on all of them to win. The more games added to your teaser slip, the bigger the profit potential — but also the greater risk. With every game you add, the chances increase that one of them will fall outside the line of even your favorable spread.
Let’s look at an example of a three-game NFL teaser. Here we have the Baltimore Ravens teased from -9.5 to -3.5, the Washington Commanders from +4.5 to +10.5, and the New York Giants from +1.5 to +7.5.
|Single game bets||Teaser bet|
|Ravens -9.5 (-110)||Ravens -3.5 (-267)|
|Commanders +4.5 (-110)||Commanders +10.5 (-267)|
|Giants +1.5 (-110)||Giants +7.5 (-267)|
|Total teaser odds: +160|
As you can see, the odds are now approximately -267 for each game with the teased line. When you multiply them, you’ll wind up with odds in the ballpark of +160 for a 3-game, 6-point teaser. That means you would have to wager $100 to win $160. If you were to bet single games with the standard point spread (-110), you would need to bet $110 to win $100.
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Each sportsbook will offer its own odds on teasers, but this table will give you a general guide of what to expect.
|Teaser size||6 points||6.5 points||7 points|
If one of the legs on your teaser ties (or pushes), it will be voided from your betting slip. For example, your 6-game, 6-point teaser (+600) would become a 5-game, 6-point teaser (+400).
Stanford Wong Teaser
Stanford Wong is a pen name used by the author of the classic sports betting book Sharp Sports Betting. In the book, Wong’s research found that a high percentage of NFL games are decided by three or seven points.
A Wong teaser is a 6-point teaser that involves favorites of -7.5 to -8.5 and underdogs of +1.5 and +2.5. Teasing these spreads allows a bettor to cover the key numbers of three and seven for both favorites and underdogs.
For example, if the Baltimore Ravens were favored by -7.5, they would become -1.5 favorites after a 6-point tease. The teased line now allows you to win your bet if the Ravens win by a field goal or a touchdown, whereas before, you would need to win by eight points.
Let’s now look at an underdog example. If the Washington Commanders were +1.5 ‘dogs, a 6-point tease would put them at +7.5. This allows them to lose by a field goal or a touchdown, and you’ll still cash in.
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Other Types of Teasers
Teasers come in different shapes and sizes, and each sportsbook will have its own way of doing things. You’ll find variations in the number of games you’re allowed to bet and differences between how big the lines get. Here are a couple of teaser options that you’ll find at most books.
Some sportsbooks will allow you to adjust the line by a large number of points (more than 7.5), and the payouts will be adjusted to reflect the line movement. These spreads will be much more favorable, but you’ll have to hit a lot of them for a decent return.
Reverse teasers, sometimes called ‘pleasers,’ are when the line is adjusted unfavorably. This will produce much larger odds because of the disadvantageous direction of the lines. These are difficult to hit, but the payout can be huge if you do.
How To Bet Teasers in Maryland
Online sports betting is on the way to Maryland, and soon you’ll be able to bet on teasers at all the major sportsbook apps, including FanDuel, DraftKings, BetMGM, and Caesars. Each sportsbook will have its own flavor of teaser bets, and they will sometimes be referred to as ‘alternative spreads.’
For now, folks in Maryland can place their teasers in person at retail sportsbooks at various locations throughout the state.
AP Photo/Winslow Townson