A sports teaser bet is, in some ways, quite similar to the parlay betting strategy. With a teaser bet – which is only applicable for football or basketball games – you get to bet on odds as well as a point spread. But similar to the parlay, one must win all bets in order to turn a profit. You bet on the total score at the end of the game, as well as a point spread – which is a +/- difference of either 6, 6.5, and 7 points. To create a teaser ticket, you must select at least two teams, and some sports books will allow you to have as many as 15 teams on one ticket.
The variance in pricing and odds between bookies is great. Some will offer 6 point spread football teasers as low as -110 ($1.10), to as high as -130 ($1.30) per bet, on the exact same spread, for the exact same games. Bodog.com is a great site for those interested in the sports teaser bet, and they have favorable odds for both football and basketball betting.
Are These Sucker Bets?
Sucker bets are bets that give the bettor an illusion of having low risk and/or high odds of good profitability. And when it comes to the sports teaser bet, for the most part, these are sucker bets. The “house”, or bookie, will always have an advanced edge over the bettor. +EV bets are still the safest and best way to go.
The One Case Where the Sports Teaser Bet is Profitable
With all this said with regard to the negative aspects of the sports teaser bet, it can be the most profitable way to bet on NFL football games. A basic statistic that even beginning bettors need to become familiar with is that when betting in the -110 value range, you must win at least 53% of the time in order to turn a profit; anything less than that is a loss. Now, using the same -110 value range, when betting on two teams with a 6 point teaser, each “leg”, or aspect of your betting ticket, needs to win at least 72% of the time in order for this to be profitable.
What this essentially illustrates are the conditions that must be present for you to make a profit on a sports teaser bet. To make a profit, you will need to find two games that have less than a 53% chance of covering the originally stated spread, but they must also have a 72% chance of covering the six point spread. While, of course, these situations don’t appear very often, when they do, based on all historical data, these are profitable ways to use the sports teaser bet.
The book Sharp Sports Betting by Stanford Wong is a great resource for anyone looking for more information about NFL teasers – this book can be found on most major online bookstores. Bovada is a great place that has excellent teasers and good odds for bettors.