Definition of Teaser Bet

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What is a 'Teaser Bet'?

Teaser bets are modified parlay bets.

With a conventional parlay, the house determines the specifics naturally by combining the individual wagers.

With a “teased” parlay, the book teases the bet by adjusting point spread, over-under totals and so forth. For the house, the benefit of a teaser bet is that it makes the parlays much more appealing to a wider audience.

Definition of Teaser Bet - Term - Sports Betting DictionaryFor the gambler, the benefit of a teaser bet is that the chances of winning are much higher than a conventional parlay with the same wager configuration. Of course, this comes at a cost: the odds, or payout, are much lower.

A parlay bet is an opportunity for a gambler to convert their confidence into winnings.

A teaser bet provides a middle ground between no confidence and great confidence.

Teasers also serve to make popular parlays much more practical bets. A common example of teaser usage is NFL betting. These bets typically combine the spread and the over-under, which are the two most popular NFL wagers.

Consider a situation: The Eagles are +2.5 at the Giants with an over-under of 54. With a 4-point teaser, the Eagles would be +6.5, and the under would be 58, or the over would be 50, which is much more favorable to the bettor.