Teaser

A US-sports multi-leg bet that lets you move each point spread or total in your favour for a reduced combined payout, with every leg required to win.

Definition

A teaser is a variant of the parlay used mainly in NFL and NBA betting where the bettor shifts each selection's point spread or total by an agreed number of points (commonly 6, 6.5, or 7 in football) in a favourable direction. All legs must still cover the adjusted lines for the teaser to win, and because those lines are easier, the payout is much lower than a standard parlay. The bookmaker prices teasers so the points granted are worth less than their fair value, preserving the house edge.

Worked example

A 2-team, 6-point NFL teaser moves a -8.5 favourite to -2.5 and a +2.5 underdog to +8.5. Both must cover the new numbers. A typical price is around -120 (decimal 1.83), so $120 risked returns $100 profit if both legs land.

Why it matters

Learners see how buying points reshapes a bet's risk, and sharp bettors know only specific teaser combinations around key numbers (3 and 7 in the NFL) approach break-even, while most teasers favour the book.

Related

Note: Standard teaser point values and payouts vary by sportsbook and sport; the 6-point NFL example is common but not universal.