Pros and Cons of Teaser Bets

If you are getting into betting  on sports and are trying to decide which types of wagers to place, you may be wondering what the advantages and disadvantages of different types of bets are.  I have previously written in-depth about a number of different types of sports bets, but I focused in the past more on definitions than on pros and cons.  In this series, I am delving deeper into the benefits and drawbacks of each.

In the first instalment in this series (Pros and Cons of Straight Bets), I talked about straight bets, which are among the most basic, simple types of sports bets.  Now I want to talk about one of the most complex types of sports wagers, the teaser bet.

What Is a Teaser Bet?

Before getting into the pros and cons of teaser bets, let’s first quickly review what a teaser bet is.  A teaser bet is very similar to a parlay bet in that it is a series of straight bets and/or totals.  As it is a combined bet, you have to win all the component wagers in the series in order to win the teaser. 

What differentiates a teaser from a parlay is that points can be added in a teaser which move the lines in your favour.  This reduces your risk and makes it more likely you will win.  You can read in-depth about how teasers work in my article, “Types of Sports Bets:  Teasers.”

Pros of Teaser Bets

There are three main reasons to consider teaser bets:

1. They are interesting and exciting (you get bragging rights if you win).
2. They can potentially pay out a huge amount of money.
3. If you are interested in parlay bets but prefer something a little less risky, a teaser bet is a good alternative.

It is really difficult to win a teaser bet, because in essence you have to win a bunch of straight bets all in a row.  There are some variations on teaser bets which will allow you to win something even if you do not win every selection (progressive teasers for example - see the article I linked to above for more information).  If you achieve a perfect win on a traditional teaser, you have achieved quite a feat, and it really is something to boast about.

Naturally if you do manage to win such an unlikely wager, you are going to get a hefty payout, and that is another reason to consider teaser bets.  Finally, teasers are safer bets than parlays since you can opt for added points.  Just remember, adding points reduces your potential payout. 

Cons of Teaser Bets

The biggest reason to avoid teaser bets (and it is a pretty solid reason) is the fact that you are simply not all that likely to win.  Think about the win percentages which are typical among even professional punters for a moment.  You are doing pretty outstanding if you are batting around 55-60%.  So why would you actually expect to win a whole series of straight bets all strung together in the form of a teaser?  You would have to be ridiculously confident in your selections to have a serious chance at winning the entire teaser.

For this reason, I generally recommend staying away from teasers and parlays and sticking with simpler bets like straight bets.  But if you do feel the need to place complicated wagers, I do suggest looking into progressive or multi-chance teasers.  These teasers pay out something even if you do not win every single selection, which ultimately makes them a better value.  If you opt to stick with traditional teasers, you will probably lose a lot of money.