Many sports bettors often look for value. One of the best ways to do that is by wagering on the spread. However, there is an interesting option available to gamblers with this betting method: the teaser betting strategy. This is easy to understand for all experienced bettors, and this guide explains all you need on teaser betting.
How do Teaser Bets Work?
In short, a Teaser bet is a type of parlay. However, with this wager, bettors can adjust the point spread for the game, giving the selection a greater chance of winning. But, in exchange for this, the sportsbook will pay less.
For example, the most popular way to use this type of bet is to include a two-team, six-point selection. Bettors would then adjust the point spreads in each game but will return a lower amount if both selections are correct. Like in all parlays, both selections must be right to get returns on this wager.
Teaser Bet Example
Placing a Teaser bet is most common when wagering on American Football. It can also be used to place a wager on basketball but is typically less common. For example, a bettor could have the Tampa Bay Buccaneers at -1 and the Dallas Cowboys at +8.5 for their teaser selections. These are adjusted totals from the spreads offered at the sportsbook, as the most likely starting spreads would be -7 and +2.5, respectively.
But, the Teaser bet enables bettors to tighten up their selections and ensure less room for error. This can be seen in this example, as the Buccaneers need to win by more than one point. The Teaser will also be a winner providing that the Cowboys don’t lose by more than nine points.
These selections are typically priced up around -120, which means a $12 stake could win a bettor $10, or you could lose the $12 if at least one of the selections is incorrect.
Pros and Cons of Teaser Betting Explained
Teaser bets are a solid long-term betting strategy for those that make wagers on American Football. The added insurance of being able to adjust the spreads to enhance your chances of winning is a huge bonus. Furthermore, adding multiple selections can ensure an opportunity to land greater returns.
However, given that the bettor adjusts the spread for this market, the returns aren’t as great as they could be when combining standard spread selections into a parlay.
Furthermore, teaser bets give bettors greater control over their selections and provide extra freedom to find their preferred value in the odds. However, it isn’t encouraged to make Teaser bets on basketball or college sports. This is because there is a greater variety of potential outcomes, and it may not be as profitable.