A teaser is a parlay where you move every line in your favor by a set number of points, in exchange for a lower payout. In most situations teasers are just parlays with extra margin. In one famous situation in the NFL, they have historically been among the better-priced bets on the board.
How a teaser works
A two-team, six-point NFL teaser:
- Chiefs −7.5 becomes Chiefs −1.5
- Bills +1.5 becomes Bills +7.5
Both legs must cover the adjusted lines. Typical prices:
| Teaser | Common price |
|---|---|
| 2-team, 6 pts (NFL) | −120 to −130 |
| 3-team, 6 pts (NFL) | +150 to +180 |
| 2-team, 4 pts (NBA) | around −120 |
Prices vary by book; shop them.
Break-even per leg
For a 2-team teaser at −120 (decimal 1.833), you need both legs to win:
At −130: 75.2% per leg. At −110: 72.4% per leg. The teaser calculator shows the required win rate per leg for any price and leg count.
Why most teasers lose
Moving a line six points only helps when the result lands in the window you added. In the NBA, margins are spread widely, so six points rarely adds enough win probability to beat the price. In the NFL, it depends entirely on which numbers you cross.
The classic NFL teaser (Wong teaser)
Because so many NFL games end with margins of 3 and 7, teasing a line across both captures the most valuable part of the margin distribution. The classic spots:
- Favorites of −7.5 to −8.5 teased down to −1.5 to −2.5
- Underdogs of +1.5 to +2.5 teased up to +7.5 to +8.5
These legs have historically covered at rates near or above the break-even for −120 two-team teasers, often in low-total games where 3 and 7 matter even more. The concept was popularized by Stanford Wong's Sharp Sports Betting. (NFL key numbers.)
Caveats:
- Books know about these spots and have moved prices (−130 or worse at many books)
- Scoring changes (extra-point distance, two-point attempts) have shifted margin frequencies over time
- Higher totals make 3 and 7 less dominant
Avoid these teaser traps
- Teasing through zero (e.g., −3 to +3): crosses fewer key numbers
- Teasing totals: totals have weak key numbers, so teased totals are rarely good
- Three-plus legs without checking the per-leg break-even
- NBA and college teasers: margins are less clustered
Frequently asked questions
What is a teaser bet?
A parlay where every spread or total is adjusted in your favor by a fixed number of points, in exchange for a reduced payout.
Are teasers good bets?
Usually not. The main exception is NFL six-point teasers that move lines across both 3 and 7 at a reasonable price.
What is a Wong teaser?
An NFL teaser that moves favorites of −7.5 to −8.5 or underdogs of +1.5 to +2.5 across the key numbers 3 and 7.