Teaser
A type of parlay where you move the point spread in your favor on multiple games in exchange for reduced odds.
A teaser is a type of parlay where you move the point spread or total in your favor on every leg by a fixed number of points, usually 6, 6.5, or 7 in the NFL. In exchange, you get a much lower payout than a regular parlay. Every leg still has to win.
How Teasers Work
In a standard 6-point NFL teaser:
- Chiefs -7 becomes Chiefs -1
- Giants +3 becomes Giants +9
- Over 47.5 becomes Over 41.5
Both (or all) legs must cover the new numbers. Ties are handled by the book's rules (see below).
Teaser Pricing
Payouts vary by book, but standard NFL teaser prices look roughly like this:
| Teams | 6 Points | 6.5 Points | 7 Points |
|---|---|---|---|
| 2 | -120 | -130 | -140 |
| 3 | +180 | +140 | +100 |
| 4 | +300 | +240 | +180 |
More points or more teams means a lower payout per leg.
The Breakeven Math
Because every leg must win, you need each leg to win at a high rate. For a 2-team, 6-point teaser at -120:
-120 implies 54.5% for the whole teaser
√0.545 = 73.9% needed on each leg
For a 3-team teaser at +180, each leg needs about 70.9%. A teaser leg that doesn't cover at roughly those rates loses money over time, no matter how safe the moved line feels.
Wong Teasers
Sports betting writer Stanford Wong popularized a specific kind of NFL teaser: 6-point teasers that move a line through both 3 and 7, the two most common winning margins.
- Favorites of -7.5 to -8.5, teased down to -1.5 to -2.5
- Underdogs of +1.5 to +2.5, teased up to +7.5 to +8.5
Historically, legs like these covered often enough to beat the breakeven rate. Sportsbooks noticed, raised teaser prices from -110 to -120 and beyond, and some limit these teasers. The edge is much thinner today, but these are still the only teasers with a real mathematical case.
Why Most Teasers Are Bad Bets
Moving a spread from -3 to +3 crosses 3 but nothing else valuable. Moving +10 to +16 crosses almost nothing. Outside the Wong ranges, the extra points rarely make up for the lower payout. Basketball teasers are usually worse, because NBA margins don't cluster around key numbers like football's do.
Teaser Pushes
If a teaser leg lands exactly on the new number, books handle it in different ways. Some drop the leg and reduce the teaser by one team, some grade the whole teaser as a push, and some treat a push as a loss. Check the rules before you bet.
Teasers vs. Parlays
| Parlay | Teaser | |
|---|---|---|
| Line movement | None | 6 to 7 points per leg (NFL) |
| Payout | Higher | Much lower |
| Chance of winning | Lower | Higher |
| Best use | Small, fun bets | Wong-style NFL legs |
Read more in our guide: What is a Teaser Bet?
Key Takeaways
- Teasers let you move the spread/total in your favor by a fixed number of points.
- All legs must still win, like a standard parlay.
- Lower payout than parlays, but higher win probability due to the adjusted spread.
- NFL teasers crossing key numbers (3 and 7) are historically most valuable.
Examples
- 2-team 6-point NFL teaser: Chiefs -9 teased to -3, Bills +1 teased to +7. Both need to cover.
Related Terms
Test Your Knowledge
1 / 4Do you know what Parlay means?
A single bet that links two or more individual wagers for a higher payout. All legs must win.
Go Deeper
Frequently Asked Questions
Are teasers a good bet?
Most aren't. The exception is NFL teasers that move a line through both 3 and 7, often called Wong teasers. Even those have a much thinner edge than they used to, since books raised teaser prices.
What happens if a teaser leg pushes?
Rules vary by sportsbook. Some books make the entire teaser a push; others reduce the teaser by one team.