Betting 101: Teaser
Leg: Each individual bet in parlay or teaser is known as a leg.
Alternate Line: An alternate line bet is a bet that is placed on a point spread, point total or prop where the bettor changes the original line.
Odds Adjustment: When betting a teaser the odds adjust to reflect the alternate line and combination of bets placed. Adding more legs to a teaser adjusts the odds further in the bettor’s favor but adds to the difficulty of the bet.
Ex. In our example above, the original Celtics, Hawks and Heat point spreads all had odds of -110 separately. Putting the three teams' point spread bets into a 4 point teaser now yields odds of +150.