How To Place a Teaser on FanDuel Sportsbook | Betting Hero Tutorial
So, in order to calculate how often each team wins individually, we must simply take the square root of 0.5238 which is 0.7237 or otherwise stated as 72.37%. So what we now know is that in order to achieve the 52.38% break even win rate for both teams, we need each team individually to win 72.37% of the time.
If you take look at these two examples, a 3-team 6-point teaser at +180 gives us better odds per team than a 2-team 6-point wager at -110; due to a 70.95%, as opposed to 72.37%, required break even rate. Now if we want to see exactly what we’re being offered, we could go ahead and convert these required break even rates, known as implied probabilities, to American betting odds.
Therefore a 2-team 6-point wager at -110 is basically a two team parlay with each team priced at -262. Doing the same math for 70.95%, 1/.7095= 1.4094 decimal odds, which plugs into the formula as 100/(1-1.4094) and solves to -244 American odds.
Can You Bet Teasers on DraftKings
To put this in perspective a 2-team 6-point bet at -110 is a parlay with each team priced at -262 and a 3-team 6-point wager at +180 is a parlay with each team priced at -244. Obviously there is higher expected value betting 3-team 6-point teaser at +180. Here we get the exact same six points, but we’re getting far better odds for each team.
A prerequisite to profitable betting is to well enough that you can break down to individual odds per team. For example, in a 2-team 6-point bet, it’s easy to calculate that we need both teams to win 52.38% of the time in order to have an expected value of break even.
The difference of 70.95%-50.00% is 20.95%. From here if we could somehow calculate that moving one team’s spread 6-points increased their expected cover rate by greater than 20.95% we’d know we have a profitable selection to add to a 3-team 6-point +180 teaser.
The first challenge we face is that moving the point spread 6-points at random rarely increasing a team’s win rate by 20.95%. To illustrate this I pulled data for the 2006, 2007, 2008, 2009 and 2010 NFL regular seasons and analyzed the point spread spreads and results. My finding was that all teams teased 6 points went 1446-702 against the modified point spread, meaning the cover rate was only 67.3%. This is a far cry from the 70.95% break even rate each team requires in a 3-team 6-point +180 bet.
What Is Teaser Betting And How Does It Work
In the NFL Teasers chapter of a book first published in 2001, Sharp Sports Betting by Stanford Wong, the author used much the same math we’ve covered in this article, to show that given the correct odds the types of bets that fully crossed BOTH the point spreads 3 and 7 were profitable.
What Is A Teaser Bet In Sports Betting
Now that you know what a teaser bet is, let’s look at how to place this type of wager. The following step-by-step guide walks you through the process, from picking games to confirming your sports betting teaser.
A teaser is a type of parlay betting covering only point-spread picks
Using the simplified method I suggested a moment ago, I pulled data from ATS Database and over the past five seasons found, that all underdogs +1.5 to +2.5 and all favorites -7.5 to -8.5 combined for a 67-93 record against the point spread. Meaning they’re only covering the spread 41.9% of the time. When I teased these same teams 6 points, I found the cover rate improved to 113-47 (70.6%).
What is a Teaser Bet – Learn to Bet with TopBet sportsbook
This data is nowhere near conclusive due to sample sizing issues. However, it absolutely suggest that teasing favorites -7.5 to -8.5 and underdogs +1.5 to +2.5, is a FAR better option than betting these same teams straight against the point spread.
What is a Teaser in Sports Betting? Teaser Bets Explained
Now if you’re concerned that the recent results are only 70.6% when the required break even rate is 70.95%, let me suggest this: there are dozens of people making their living betting point spreads at -110, where the required break even rate is 52.38% and the markets probability is 50.00%. With a little selectiveness you have FAR LESS of a bookmaker advantage to overcome.
What Is a Teaser Sports Betting: 2024 Guide
Typically, the payout for a two-game, 4.5-point teaser in the NBA will be slightly less than even money. Again, this depends on the teaser bet odds and the sportsbook’s payout structure.