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Teaser Bet
Bet Type: Exotic
In Brief: A Teaser Bet lets players bet on the spread and point total of a game, with a greater margin of error by taking a set amount of points from the sportsbook to "Tease" the numbers in their favor in exchange for a reduced payout.
Much like the mystique that surrounds playing Baccarat at a casino, the sportsbook Teaser Bet has some mystery to it that sometimes is confusing and intimidating for all but the most experienced sports bettors. Put your mind at ease, because we're going to explain the Teaser Bet in a simple 3 step process. It's better to break the Teaser Bet down into smaller pieces than thinking of it as one modified parlay bet.
Example: The Orlando Magic are playing the Chicago Bulls.
Step 1 - Bet the Spread - The sportsbook has assigned a 5 point spread to this contest, the favorite being the Chicago Bulls (shown as -5). You choose to take the favored Chicago Bulls. This part of the Teaser Bet wins if and only if the Chicago Bulls beat the Orlando Magic by more than 5 points.
Step 2 - Bet the Total - The sportsbook has assigned a total of 75 points to this game, meaning you can bet whether or not the final combined score of both the Orlando Magic and Chicago Bulls will be OVER or UNDER 75. You choose the OVER option, believing the final combined score will be GREATER THAN 75 points.
Step 3 - Factor in the Teaser Points - Sportsbooks commonly offer 7,8, or 9 point teasers. Now that you've locked in your Spread Bet for the Bulls to win by more than 5 points and the game total to be more than 75 points, you get to "Tease" these numbers based on the amount of teaser points offered by the sportsbook. You choose a 7 point Teaser, which means the 5 point spread bet becomes a 12 point spread (Original 5 points + 7 Teaser points) and the OVER 75 point Total Bet becomes an OVER 82 points Total Bet (Original 75 points + 7 Teaser points).
Final Wager: Therefore, in order for this bet to win, the favorite Chicago Bulls must win by more than 12 points, and the combined final point total of each team must be greater than 82 points.
Essentially, Teasers are modified Parlay Bets with additional points from the sportsbook that makes the bet more or less difficult to win. Don't forget, you could also take the underdog Orlando Magic in our example, and/or bet that the final score would be UNDER 75 points prior to adding the teaser points.
As a result, the Teaser Bet can be profitable if you "Tease" your spread and total bet by the right amount, without making the bet impossible to win or too easy to win.
It's a good idea to make a Teaser Bet when you think a standard Parlay Bet on the game spread and total would be more difficult to win without the sportsbook's additional teaser points. On the flip side, a Teaser wouldn't be a good idea if you're very sure that a regular parlay bet would win, because you stand to make more money.
It's all about tradeoffs with Teaser Bets, and if you choose the right trades to make in your wagers, you can diffuse the sportsbook's edge and collect a nice payout.
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