Teaser Bets Explained: When They Add Value

# Teaser Bets Explained: When They Add Value

Teaser bets are a popular form of parlay betting that allows you to adjust the point spread or total in your favor. In exchange for these more favorable lines, you receive a lower payout than you would with a traditional parlay. While teasers can be a fun and exciting way to bet on sports, they are often misused by novice bettors. This article will explain what teaser bets are, how they work, and when they can add value to your betting portfolio.

What is a Teaser Bet?

A teaser bet is a multi-team wager where you can “tease” the point spread or total of each game in your favor. The most common type of teaser is a two-team, six-point football teaser. In this type of wager, you would select two football games and adjust the point spread for each game by six points. For example, if you like the Green Bay Packers -7.5 and the Kansas City Chiefs -8.5, you could tease them down to -1.5 and -2.5, respectively. Both teams would then need to win by at least two and three points, respectively, for your teaser to cash.

Teasers are not limited to football. You can also tease basketball games, and the number of points you can tease can vary depending on the sportsbook. You can also tease totals, moving the over/under line up or down.

The Sucker Bet Myth

Teasers have a reputation for being “sucker bets,” and for good reason. Many bettors are drawn to the idea of moving the spread in their favor, but they don’t understand the math behind it. The payouts for teasers are often not commensurate with the true odds of winning, especially for teasers with a large number of teams.

However, that doesn’t mean that all teasers are bad bets. There are certain situations where teasers can be a profitable long-term strategy. The key is to understand when and how to use them.

When Do Teasers Add Value?

The most profitable way to bet teasers is to use them in specific situations where you can gain a statistical edge. The most well-known and effective teaser strategy is the Wong teaser, named after the legendary gambling author Stanford Wong.

Wong teasers are two-team, six-point football teasers that involve teasing teams through the key numbers of 3 and 7. In football, many games are decided by a field goal (3 points) or a touchdown (7 points). By teasing a team’s point spread through these key numbers, you can significantly increase your chances of winning.

The Rules of Wong Teasers

To be a true Wong teaser, a bet must meet the following criteria:

• It must be a two-team, six-point football teaser.
• The teased line must cross through the key numbers of 3 and 7.

For example, if a team is a -8.5 favorite, you can tease them down to -2.5. This crosses through the key numbers of 3, 4, 5, 6, 7, and 8. If a team is a +1.5 underdog, you can tease them up to +7.5. This crosses through the key numbers of 2, 3, 4, 5, 6, and 7.

By focusing on these specific situations, you can turn the teaser from a sucker bet into a +EV wager.

The Math Behind Wong Teasers

The reason Wong teasers are profitable is that the adjusted payout for a two-team, six-point teaser is often better than the true odds of both legs of the teaser winning. The standard payout for a two-team, six-point teaser is -120. This means you have to risk $120 to win $100. The implied probability of winning this bet is 54.5%.

However, if you are teasing through the key numbers of 3 and 7, the true probability of winning each leg of the teaser is significantly higher than the 50% that the point spread would suggest. By focusing on these key numbers, you can increase your win probability to a point where the -120 payout becomes profitable.

Conclusion

Teaser bets can be a valuable tool in a sports bettor’s arsenal, but they must be used correctly. The vast majority of teasers are sucker bets that will lose you money in the long run. However, by following the principles of Wong teasers and focusing on two-team, six-point football teasers that cross through the key numbers of 3 and 7, you can turn the tables and make teasers a profitable part of your betting strategy. Like any other form of betting, success with teasers requires discipline, patience, and a solid understanding of the math involved.