So, in a game with countless betting markets, where does one start?
Most punters start their betting careers making straight bets using the ‘line’ or ‘spread’.
For example, if the Patriots are favored to win by 6, you place a bet on them and if they win by 7 or more, you win.
Once you’ve got lines down-pat, you’re ready for the wonderful world of NFL teaser bets.
What is an NFL Teaser Bet?
An NFL teaser bet is when you bet on multiple games on one bet. Otherwise known as a ‘parlay’ or ‘multi’, in order to win a teaser bet, you must compile winning spread bets together and win them all.
The enticing part is that you receive a boost to the lines on every game you choose. A six-point teaser moves all of the lines in your favor by 6 points. The amount of points available varies by sports book and each of them changes the payout. The higher the teaser points, the lower the payout. You can also pick a variable number of games, from 2 up to the maximum amount available at the sports book. Each game you add to your teaser increases your possible payout.
Here is an example of a standard 3 team teaser. If you choose a 7 point teaser and pick the following teams:
|If you choose a 7 point teaser and pick the following teams:|
|Your new lines are now:|
Here is a quick refresher if you don’t remember how to read betting lines: The Cowboys +2 means that they are underdogs by 2 points. So if you bet on them you add 2 points to their score. If they lose by 1 point or win the game your bet wins.
By moving the line to +9 you add 9 to their final score, so if they lose by 8 or less or win you win the game. In the Dolphins game, the Dolphins are favored by 9 so they have to win by at least 10 for you to win the wager. After the teaser they only have to win by 3.
You would think that by moving the lines so far in your favor that it would be a no-brainer to play teasers and win with them on a consistent basis. But, you also know that sportsbooks turn a consistent profit and don’t offer wagers that they lose on a consistent basis. So, you still need to find lines that offer good value and do the required research and work needed to give yourself the best chance to win.
Here is a sample chart reflecting how the odds change based on how many points you get and how many games you bet. This is not a complete chart. See your sports book or betting establishment for their complete chart. This chart shows just the payout odds for 6 and 7 point teasers for 2, 3, 4 and 5 games.
|Number of Games||6 Point Teaser||7 Point Teaser|
For example, if you placed a two-game six-point teaser you will bet $110 to win $100. If you place a 4 game 7 point teaser you bet $100 to win $215.
The general rule is that if a game ties or pushes it is ignored and the next lower number of games is played. For example, if you place a 5 game teaser and one pushes, it is now a 4 game teaser. There are different rules at different sports books about pushes / ties and if a ticket gets reduced to a single game. Some books count a ticket reduced to a single game that loses a loss while others count the same ticket as a push. Make sure you understand exactly how each place you place wagers handles these situations before you place a NFL teaser wager.
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NFL Teaser Strategies
The most profitable NFL teaser strategy that has been introduced is called Wong teasers. Stanford Wong is the pen name used by a blackjack player and sports bettor on gambling books he has written. He published a book called Sharp Sports Betting in 2001 that explains the theory behind his Wong teaser, among other things. Somewhere around 25% of NFL games are decided by either 3 or 7 points. This is because field goals are worth 3 points and touchdowns with extra points are worth 7 points. Wong puts forth that because such a high percentage of games are decided by these two numbers, if you can cross these numbers when playing teasers you have a stronger chance to win. There have been studies done and many years in the NFL you can just use Wong teasers and turn a profit. The problem is that the sports books know about Wong also and have learned how to set lines more efficiently.
Summary of NFL Teasers
It is easy to fall into the trap of seeing all of the extra points you receive while playing teasers and thinking that it is easy to win. But don’t forget that the people who set NFL lines and offer teasers are profitable businesses. This means that the majority of sports bettors tend to lose more than they win. You can find NFL teasers that you can use to win money, but if you can’t find straight bets that you can win consistently then teasers are probably not going to turn your fortunes around. When you do decide to start testing the waters by placing teaser bets, use the techniques covered in the strategy section above to improve your odds of winning.