Teaser
What does "teaser" mean in sports betting?
A teaser is a parlay where you move the spread or total in your favor on every leg in exchange for a smaller payout.
The most common is the two-team, 6-point NFL teaser. Every leg has to win, just like a parlay, and the price depends on the book and the number of legs.
Teasers are most useful when the extra points carry a line through the key numbers 3 and 7, for example turning a 7.5-point favorite into a 1.5-point favorite. Moving a line through no key numbers adds much less value.
Example
With a 6-point teaser, Chiefs -7.5 becomes -1.5 and Lions +2.5 becomes +8.5. Both legs have to cover their new numbers. A two-team 6-point teaser is often priced around -120 to -130, depending on the book.
Related terms
Alt line
An alt line (alternate line) is a spread, total or player prop set at a different number than the main line, with the price adjusted to match.
Point spread
The point spread is a handicap that evens out a matchup: the favorite has to win by more than the spread, and the underdog covers by losing by less than it or winning outright.
Parlay
A parlay combines two or more bets into one ticket. Every leg has to win, and the payout is the odds of each leg multiplied together.
Hook
The hook is the half point on a spread or total, like the .5 in -3.5. It removes the chance of a push.
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