5 Reasons Teaser Bets Are a Bad Idea

Every sports bettor is searching for a way to make winning just a little easier. On the other hand, the sportsbooks are well aware of this and have implemented what I would consider “trick plays” to get more money out of you.

An example of one of these trick plays is the teaser bet. It promises better odds and easier wins, but when you run the numbers, is it really worth it?

In this article, I’ll explain what a teaser bet is and why you should think twice before incorporating them into your overall strategy.

Understanding Teasers

The first thing you need to know about teaser bets, if you’re unfamiliar, is that it requires you to win multiple games in order to win your bet. With that being said, there is a benefit for the bettor in the way the odds are adjusted.

The most common example would be to use an NFL game. The two-team, 6-point teaser is considered the standard.

Although you are getting a much more favorable point spread, it’s important to remember that you must win both games in order to cash in. This presents a challenge that sports bettors, especially those who regularly bet on the NFL, are all too familiar with.

For the following reasons, I would suggest using teasers sparingly, or even not using them at all.

1 – The Numbers Don’t Work In Your Favor

Sportsbooks and online sports betting sites know that the vast majority of gamblers aren’t going to crunch the numbers to find out if they’re actually getting a better deal on a certain play. You might be surprised that parlays are actually tipped in the house’s favor, until you get to four or five different bets where winning is highly unlikely.

Here are the numbers you need to know:

In order to be profitable betting normally, meaning a single bet with a -110 vig, you need to win about 53% of the time. It’s a tall order, but some bettors are able to get to this number. When it comes to teasers, you need to win each game 73% of the time in order to be profitable.

Now, it’s true that you do have a much higher chance of winning with the extra points on your side, but are you being compensated for your risk? The answer, in nearly all cases, is no.

2 – The Points Don’t Matter as Much as You Think

I’ve never understood people who agonize over an extra point or half-point when it comes to the spread. Sure, there are times when it comes into play, but the vast majority of games are decided well outside the spread.

Getting six additional points with a teaser is nothing to be scoffed at, but it’s important to consider if it’s really going to be a factor in both games that make up the play. The reality is that you’re taking on major risk, meaning you need to win both games or you lose the bet in exchange for the extra points.

The next time you sit down for an NFL Sunday slate of games, keep track of which games would have been impacted by the 6 points. You might be surprised to find that it’s only a handful each week, meaning most gamblers would be better off just playing the games the traditional way.

3 – There Are Simply Better Options

The real argument against teasers isn’t so much pointing out the flaws but, rather, looking at the alternative plays that you could be making instead. Without question, there is tremendous value to be enjoyed if you look elsewhere.

• First, you’re better off simply betting on the spread as it is without the teaser. If you go 5-5 on the day but bet all teasers, you could theoretically lose every single play. If you just bet the games individually, you’d still be close to even.
• Second, if you’re utilizing a teaser, then you’re probably ignoring the opportunities presented by the moneyline underdogs. To continue with the theme of not overestimating the impact a few points has on winning or losing a bet, consider all the games that have an under 4-point spread for either team.

If a spread is less than a touchdown, it’s reasonable to think that the sportsbooks are saying the game could go either way. Instead of just accepting the -110 odds, take the leap and bet on the moneyline underdog. Yes, this is going to result in you losing a few additional games, but when you’re dealing with +130 to +150 odds, your wins are going to cover your losses—and then some.

The bottom line is that gambling requires a significant degree of risk tolerance to be successful. It’s necessary to accept that you’re going to lose a high percentage of the time. The key is to maximize wins and hope that it offsets your losses.

Remember, the win/loss categories don’t matter as much as the financial side of things. Trying to get easy wins, such as with a teaser, almost always benefits the house.

4 – Consider Why They’re Being Offered

Have you ever known a sportsbook to create offerings that benefit bettors? If so, I’d love to be pointed in that direction.

In the same way that sportsbooks set their odds with some knowledge of public bias, so too do they create betting options with the same thing in mind.

Parlays and teasers are two examples of bets that are offered in the hope of attracting people who are looking for easy wins.  Simply put, be smart enough to avoid taking the bait. This is yet another example of, “if it looks too good to be true, it probably is.”

When it comes to betting on sports, especially the NFL (where the sportsbooks are receiving a huge amount of action and have a huge incentive to get the most out of gamblers), there’s just no such thing as a “gimme.” If you think you’ve found one, the bet offering is probably a wolf in sheep’s clothing.

5 – It’s All or Nothing

I’ve touched various aspects of this idea throughout the article, but to lay it out bluntly: it’s hard to go 2-0. In this case, to go 2-0 on the day, you’d actually have to go 4-0 if you’re using teasers.

If you go 3-1 in the early round of games on an NFL Sunday, you’re going to feel good about your plays. You’re up a good deal, and can play with house money in the evening games. With teasers, you could go 3-1 on the day and end up being down slightly. In my opinion, any time you put yourself in the position where three wins and one loss ends up being a net-loss financially, you’ve made a mistake.

To further demonstrate the point, it’s important to look at the implication of playing teasers regularly. If each and every bet you make requires you to accurately predict two outcomes of an inherently unpredictable game, it’s simply too difficult to win consistently.

When betting teasers, you can finish the NFL weekend correctly picking eight of 12 games. Ordinarily, this would be an outstanding and profitable weekend. If you’re betting teasers, an 8-4 record (meaning six total teasers played), could potentially result in two wins and four losses. That’s just not a winning formula.

Conclusion

Teasers allow you to feel great when you lock in a bet. With an extra 6 points on your side, it seems like you’re stealing money from the sportsbook. The reality is much more nuanced, and it’s important that you don’t misunderstand the decision you’re making.

Sportsbooks love parlays and teasers. In the former, people are trying to maximize their money without recognizing the risk. In the latter, people are trying to maximize their number of wins without recognizing the risk. In all cases, it’s simply better to bet straight up and let the chips fall where they may.