Teaser Odds Payout Explained
A teaser is similar to a parlay in the sense that it is a combination of multiple wagers, however the big difference between a parlay and a teaser is that you essentially get points added in your favor in exchange for a lower overall payout for a teaser. If your teaser play is a basic point spread play, you can deduct points from the favorite or add to the spread for the underdog. When the teaser includes a total, you can increase the under or decrease the point total. Just like with a parlay, you must win all of the plays in order to cash in on the teaser. One loss of any of your chosen games will negate the others, and give you a losing teaser.
As the teaser odds payout is explained, in tilting the odds further in your favor, the bookmakers account for that shift in value by paying out less money, as opposed to a parlay where you play the bookmaker’s spread and receive the full payout. However, in case of a push, that game is dropped from the group of games, and the odds are reconfigured to reflect the other remaining selections. For example, if you had a 3 game teaser, and one of them pushes, then the odds and payout for the other two games will decide what the book pays you, and does not nullify the entire teaser.
Teasers can be a very effective tool for handicappers and bettors when you sense that a line is just a bit off, and would like to basically buy points to tilt the odds in your favor. While the payout is lower than that of a parlay, the value is accounted for by increasing the odds in your favor.