A teaser bet is a multi on lines or totals in which every leg is moved the same number of points in your favour, and the whole bet pays a lower price in return. In a 6-point NFL teaser, a +2.5 underdog becomes +8.5 and over 44.5 becomes over 38.5, but every leg still has to win.
Teasers come from US betting, where the price is set by the number of legs and points, and the US sports betting guide maps the other US terms.
A worked 6-point teaser
Illustrative games and prices: $50 on a two-leg 6-point teaser at $1.80.
| Leg | Main line | Teased line | Final score | At the main line | At the teased line |
|---|---|---|---|---|---|
| 1 | Team A +2.5 | Team A +8.5 | Team A loses 20-27 | Loses: 22.5 trails 27 | Wins: 20 + 8.5 = 28.5 beats 27 |
| 2 | Team C -8.5 | Team C -2.5 | Team C wins 24-20 | Loses: 15.5 trails 20 | Wins: 24 - 2.5 = 21.5 beats 20 |
Both teased legs win, so the bet returns 50 x 1.80 = $90.00, a $40 profit, on a day both main-line bets lost. Had Team C won 22-20, its leg would have missed by half a point (22 - 2.5 = 19.5) and the whole $50 with it. NFL line betting covers how each line settles.
Why teasers carry margin
Every leg must win, so the chance of all of them winning must reach 1 / price to break even. With independent legs of equal chance, each needs (1 / price) to the power 1 / legs:
| Legs | Illustrative 6-point price | Break-even chance per leg (equal legs) |
|---|---|---|
| 2 | $1.80 | square root of (1 / 1.80) = 74.5% |
| 3 | $2.60 | cube root of (1 / 2.60) = 72.7% |
| 4 | $3.60 | fourth root of (1 / 3.60) = 72.6% |
If each teased leg is a 70% chance (illustrative), both win 0.70 x 0.70 = 49% of the time, a fair price of 1 / 0.49 = $2.04, so $1.80 returns 0.49 x 1.80 = 88.2c per $1. A single line bet at $1.90 on a fair 50% returns 95c. The margin compounds across the legs, as in any multi bet.
Where six points are worth most
A teased leg gains the results between its two lines, so six points are worth most when that stretch holds 3 and 7, the margins NFL games land on most, as NFL key numbers measures. Both legs above do. A favourite teased from -13.5 to -7.5 crosses neither and gains far less.
Teasers at Australian bookmakers
Availability varies by bookmaker and changes, so check whether yours sells a teaser. Where it does not but offers alternate lines, a multi of those lines needs the same results. Team A +8.5 at $1.38 and Team C -2.5 at $1.36 (illustrative) multiply to 1.38 x 1.36 = $1.88, to set beside a teaser price for the same legs.
Under the NSW rule book for bookmakers authorised to take sports bets there, a multi is lost if any leg loses (clause 5.1.9(a)) and a points start is set to half a point unless agreed otherwise (clause 5.1.3). Online bookmakers set their own terms, so read how yours settles a teased leg that lands on a whole number.
Comparing lines before you tease them
Half a point on the main line carries into every teased number. B337's Terminal lines up each bookmaker's line and total prices on the sports it covers, from 40+ bookmakers across racing and sports, though some bookmakers skip some games. Its prices are read on a repeating cycle, so check the line in your account first. A free account opens a limited view of the Terminal with live odds.
Risk: Betting involves risk. A teaser loses if any leg loses, the extra points are paid for in the price, and there is no guarantee of profit. See responsible gambling for limits and support.