Parlays and Teasers

by Betrics Co. Author Sal Cacciatore

Parlays and Teasers: The Basics

Parlays allow bettors to bet on multiple games at once in a single wager. For a parlay to cash, all bets contained in it need to win.

If you play a two-team parlay, for example, both teams need to win, or it is a loss.

Bettors play parlays because the payout for a winning parlay is higher than what it would be had you made a series of independent bets.

The downside is, since you need a series of events all to go your way, your chances of winning are lower.

Teasers

Like parlays, teasers are a way to bet on multiple games, and bettors need to hit each leg of the bet to win.

Teasers are unique because instead of wagering based on the listed point spreads, the wager involves alternate point spreads modified by a uniform amount.

A common teaser is a six-point variety in football. In these instances, six points are added to the spread for each leg of the bet.

For example, say a bettor makes a bet on a two-team, six-point teaser involving Indianapolis +4.5 and Green Bay -7.5. For the teaser, the Indianapolis spread is modified to +10.5, and Green Bay is moved to -1.5.

Indianapolis would need to cover the 10.5-point spread for this bet to win, AND Green Bay would need to cover the 1.5. If either does not happen, the bet is a loss.

Payouts for teasers are less than point-spread parlays, but the teaser is more likely to win since the bettor gets points from the bookmaker.