A teaser bet lets gamblers combine two or more plays into one ticket while shifting the point spread or total in their favor by a fixed number of points. In exchange for that cushion, sportsbooks lower the payout compared with a standard parlay.
Teasers only exist in football and basketball, since those sports produce scores in predictable point increments. Baseball and hockey cards do not offer them.
A teaser is technically a type of parlay. In football the standard move is six points; in basketball it’s four. Every leg on the ticket shifts by the same amount, always in the bettor’s favor, and every single leg still has to win for the ticket to pay out.
The catch is price. A standard two-team point spread parlay typically pays around +260. Move to a two-team six-point teaser and the payout drops to somewhere between -110 and -120, depending on the sportsbook. Bettors are paying for the extra points with worse odds.
Common Teaser Sizes
Bettors start with the standard line, then shift each leg by the teaser amount in whichever direction helps them: favorites shrink, underdogs grow, overs go lower, and unders go higher.
For example, two Sunday favorites with spreads that feel too big become easier covers once a two-team six-point teaser is applied. Totals work the same way — a game total of 47.5 becomes 41.5 on the over or 53.5 on the under. Spreads and totals can be mixed on one ticket, though most books won’t let a bettor teaser both sides of the same game.
In short, a teaser is a parlay with a discount on the lines and a discount on the payout. The real question is which discount is bigger.
How the Payout Works
Unlike a regular parlay, teaser payouts aren’t built leg by leg — each sportsbook sets a fixed price for a given number of legs at a given teaser size, and prices vary by 10 to 20 cents from book to book, so it pays to check the ticket before confirming. As an example, a $50 three-team six-point teaser at +170 would return $85 in profit plus the original $50 stake. A $50 two-team teaser at -120 would return $41.67 in profit.
The ‘Wong Teaser’
A six-point teaser earns its keep when it moves a spread across football’s two most common margins of victory: 3 and 7 points. NFL games are decided by exactly 3 points roughly 15% of the time and by exactly 7 points close to 9% of the time, so a line that starts on one side of those numbers and ends on the other captures a large share of outcomes.
That pattern has a name. In 2001, gambling author Stanford Wong identified the specific spots where a six-point teaser is historically profitable — moving favorites of 7.5 to 8.5 down below 3, or underdogs of 1.5 to 2.5 up past 7.
Sportsbooks are well aware of this. Many now price two-team teasers at -130 or -140, or adjust the lines on exactly these matchups, which has narrowed the edge over time. The underlying logic still works, but the margin is thinner than it once was.
College football spreads are larger and scores more unpredictable, so those key numbers matter less there. A six-point teaser on a college game is generally a worse bet than the same teaser on an NFL game, even in a marquee matchup.
Where to Find Teasers
Not every sportsbook app offers teasers on every game. Fanatics and bet365 build them directly from the bet slip, while FanDuel and BetMGM house them in a separate Teaser section on the NFL page.
Frequently Asked Questions
What is a teaser bet? A parlay in which every point spread or total is moved in the bettor’s favor by a set number of points — usually six in football, four in basketball. All legs must win, and the payout is lower than a standard parlay because of the extra points.
What’s a typical payout? Most sportsbooks price a two-team six-point football teaser between -110 and -120, meaning a $110 to $120 stake wins $100. Some books charge -130 or more, so bettors should check the ticket.
What is a Wong teaser? A six-point NFL teaser that moves favorites of 7.5 to 8.5 down below 3, or underdogs of 1.5 to 2.5 up past 7. It’s named for Stanford Wong, who showed these legs historically win often enough to beat the teaser price.
Can totals be teased? Yes — a teaser moves a total the same way it moves a spread, lowering the over or raising the under. Most bettors stick to spreads since totals don’t cluster around key numbers the way scores do.
What happens if a leg pushes? At most sportsbooks, a push drops the teaser down to the next lower number of legs; a two-team teaser with one push becomes a straight bet. Some teasers count a push as a loss, so it’s worth reading the rules.
Are teasers usually good bets? Most are not. Six-point NFL teasers that cross the 3 and 7 marks are the exception and carry a small historical edge. Teasers on big favorites, totals or basketball typically favor the sportsbook.
Can moneylines be teased? No. Teasers only apply to point spreads and totals, since moneylines have no number to move.
Sports betting is meant to be entertainment. Bettors should set a budget beforehand, treat losses as the cost of that entertainment, and avoid chasing them. Every legal sportsbook offers deposit limits, time limits, cool-off periods and self-exclusion tools in account settings, and free, confidential help is available for anyone for whom betting has stopped being fun.
