A Teaser Bet is a parlay in which the bettors takes more points or lay fewer points than the line, thus adjusting the point spread in his favor. However, the bettor's payout odds are reduced when this is done. Teaser rules are as follows:
A teaser bet can only consist of point spreads and totals; the bettor cannot buy points.
The number of teams and the number of teaser points the bettor select determines his payout odds.
A tie or no action and a win on a 2-team teaser shall constitute a no action wager.
A tie or no action and a loss on a 2-team teaser shall constitute a losing wager.
A tie on a 3 or more team teaser shall revert to the next lowest betting bracket. For example a tie on a three team teaser becomes a 2-team teaser.
The two teasers listed above can only be made on the point spread. Money lines and totals cannot be used.
For example, the bettor places a 3-team, 6-point football teaser. The chart above lists the odds as 16/10. The unadjusted line is Denver -7, New York -3 and Chicago +15.
The point spreads are adjusted as follows.
If each and every one of the three teams wins against the adjusted spread, the bettor wins $16 for every $10 bet.