While the majority of NFL fans stick to basic wagers like moneyline bets and point spreads, there are a number of other betting options available to the public. Although you might not have a firm understanding of these wagers right now, it’s important to learn about teaser bets so that you can play them if you want in the right situation moving forward.
In this article, we’re going to take a closer look at NFL teasers and the strategy behind them.
Understanding Betting Odds
Before you can fully understand teasers, you need to have a firm understanding of basic betting odds. Let’s take a closer look at betting odds using the following example:
Buffalo Bills +150
New England Patriots -200
In this example, the Buffalo Bills are visiting the New England Patriots. There is a number next to each team name, which represents their betting odds. The first thing that you should notice is the positive and negative signs in front of those numbers. The plus sign next to the Bills indicates that Buffalo is an underdog. The negative sign next to the Patriots indicates that New England is a favorite. If you bet $100 on the Bills at +150 odds and they won, then you would win $150 on that wager. If you lost, you would lose the $100. If you bet $100 on the Patriots and they won, you would only win $50. This is because New England is listed at -200, which means in order to win $100 by picking them you would have to risk $200.
You could increase or decrease your wager amount to whatever you want it to be within the limits established by your sportsbook. That number is combined with the betting odds number to determine how much you can win on any given wager.
What are NFL Teasers?
NFL teasers are a type of bet where you link multiple outcomes together on the same ticket and then apply a filter to adjust the spreads for each of those games. Sports bettors take a hit on their potential winnings in exchange for more points on the spread for each game on their ticket. If every team you include on the teaser wins, then you win your teaser wager. However, if even one team on the ticket loses, then you lose your teaser wager. Let’s use the following example for the NFL teaser.
New England -9.5
Jacksonville -5.5
New Orleans -1.5
A parlay of these three teams would mean that the person making the wager took the Patriots to win by 10 points or more, the Jaguars to win by six points or more and the Saints to win by two points or more. If you apply a 7-point teaser, this is what your ticket would like.
New England -2.5
Jacksonville +1.5
New Orleans +5.5
New England moves from a 9.5-point favorite all the way to a 2.5-point favorite. Jacksonville moves from minus-5.5 to plus-1.5. New Orleans shifts from minus-1.5 to plus-5.5. You are getting the extra points on each spread using the teaser in exchange for lowering your potential winnings on the wager.
As is the case with parlay bets, you can usually wager on anywhere between three and 12 games when betting an NFL teaser. At the same time, there are usually multiple teaser options available including six-point teasers, seven-point teasers and even 10-point teasers with certain sportsbooks. Keep in mind that while you take a small hit on your potential winnings with a teaser bet, you should also be improving your probability to win the wager in the first place since you are moving the line in whatever direction you choose to move it in.
Understanding Teaser Payouts
While the majority of sportsbooks use the same or similar structures for their teaser payouts, it’s important to read what rules the particular sportsbook you are using has in place for each type of teaser.
Let’s use the example of the three-team, seven-point teaser listed above.
New England -9.5
Jacksonville -5.5
New Orleans -1.5
Becomes
New England -2.5
Jacksonville +1.5
New Orleans +5.5
In this situation, a sportsbook could give you 2.20 as the betting odds for the three-team, seven-point teaser. A $100 wager would pay out $220. The numbers change as you change the number of teams that you use and the number of points you get on the teaser. However, keep in mind that the Bet DSI sportsbook has a teaser payout table. You can look at it and quickly reference the payouts for three, four, five, six-team teasers.
It’s important to remember that the more teams you add to the teaser, the higher the potential payout becomes. At the same time, the greater the number on the teaser the worse your potential payout will be if the amount you risk is the same. Therefore, a four-team, seven-point teaser will give you a better potential payout than a four-team, 10-point teaser in which you risk the same amount of money.
The Pros and Cons Of Betting NFL Teasers
The pros and cons of a teaser are quite simple to understand.
On the positive side of things, you’re simply increasing your window of opportunity. You are getting extra points to help your cause, so that means that you have a greater opportunity to win.
On the other hand, you’re also having to play a parlay. While you’re getting points on your side, you now have to have more outcomes go in your favor to win your bet. That adds to your risk. The other downside is your payout. A two-team teaser usually pays out close to – or about the same – as picking one straight up winner against the spread. Remember, sometimes teasers only make you feel safer — often times the team you thought would cover ends up covering the original number and you didn’t need the extra points.
Typically, the best strategy with teasers is to cross key numbers. If you’re crossing numbers like three, seven and 10, that’s viewed as the smartest way to play a teaser.