A teaser is a type of parlay bet. Combining multiple games into a single bet and every line is adjusted in your favor. Each separate bet in a teaser is referred to as a “leg,” and each leg must be a successful bet in order to win a teaser. 

Winning multiple bets is no easy task, but the odds increase in value as more legs to the teaser are added. 

Risk Overview: The best sports bettors in the world are successful in singular bets around 55% of the time. It’s a hard gig. Trying to hit more than one bet, at the same time, where one loss loses the entire teaser, is an extremely difficult task. Always be careful when attempting to bet a teaser and never wager more than you are willing to lose.

In a teaser, each leg has their line adjusted by the same amount.

Ex. The Celtics are +3.5 on the point spread, the Hawks are +4.5 and the Heat are +7.5. Putting all three teams in a 4-point teaser means you are now placing a combination bet on the Celtics +7.5, the Hawks +8.5 and the Heat +11.5. 

Teaser Terms To Know

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.