Types of Sports Bets: Teasers

Once you have learned about the US straight bets and parlay or accumulator bets, you are ready to learn about another american common type of bet called a teaser.  A teaser is similar to an accumulator bet in that it consists of a group of straight bets and/or totals all combined.  So what makes a teaser different from an accumulator bet?  With a teaser, additional points are involved which move the lines.  Let’s say you are betting against a line of -20.  If you are betting on a 5-point teaser, the line is moved 5 points in your favor, which converts the -20 to -15. 

Similar rules apply to teasers as apply to accumulators.  All of the individual bets included in the teaser have to win in order for you to win the teaser.  If you lose even one, you lose them all.  Teaser bets are available for some sports (like basketball and football), but not for all.  As with an accumulator, the more teams involved in the teaser, the higher the payoff.  The payoff is also modified by the points which are given in favor of your teams.  Obviously the more points you are given, the lower your risk, and the lower the payout.

There are three different ways that ties can be handled: 

• Ties Reduce:  As with an accumulator, if there is a tie with any of the games, your teaser bet converts to the next rung down in terms of payoffs.  If you are participating in a two-team teaser, and there is a push and a winner, you get a refund and the wager is classified as a “no action” wager. 

• Ties Win:  Ties are treated as wins.

• Ties Lose:  Any tie is considered a loser.

There are also several other variations on teasers.  In the US open teasers are like open accumulators.  You can call in on the phone or open a teaser online and fill in half the spots (or more).  You fill in the other open spots later at your discretion.  Progressive teasers are “ladder” parlays which provide small consolation payouts for losses, and do not close when you lose a selection.  Each time one of your selections is correct, the overall payout for the teaser increases.  Another variation you may sometimes see is the multi-chance teaser.  This is like a progressive teaser, but payouts do not increase with each winning selection.  Once a certain minimum number of selections win, the entire wager is considered a winner.  But the payout is not dispersed until all the selections are complete and the results are in. 

You can think of a teaser as an alternative to an accumulator where you have a bit more control over the action, and a bit less risk as well.  If the “all or nothing” nature of a parlay puts you off, a progressive teaser may be something to consider.  With any teaser, the addition of points in your favor reduces payouts, but also reduces risk, and may make a wager look more palatable.  It is entirely conceivable that you could win a teaser bet and lose the equivalent parlay bet, all because of the points added.