Parlays vs Teasers - Which is the Better Bet?

In the online sports betting world, the vast majority of bettors simply place a straight up bet on one side of the contest or the other. They will pick one sports team to beat another, and either bet on the money line or the point spread between the two teams based on the current Vegas odds on sports that apply to the events they are wagering on. These are far and away the most common bets, and even amateur bettors have a pretty good handle on how they work. But sometimes you have to step out of your comfort zone to get the best possible odds on a particular wager, and that is where parlays and teasers come into play when you are evaluating betting lines that you are interested in.

Unfortunately, not all online sportsbook gamers understand the similarities and differences of these two advanced wagering types. Very basically, the similarity is they both involve multiple teams, wagers, sides, money lines, totals, prop bets or some other type of individual wager. The biggest difference is how your odds of winning change, and how much money you stand to make from a winning parlay bet versus a winning teasers bet. Still confused? Don't worry, we're going to break it down for you so that by the end of this article, you will be betting teasers and parlays like a seasoned pro.

Parlay betting means choosing multiple games, individuals or teams to bet on, usually a minimum of two and not more than twelve, and placing a single wager on the outcome of all of them. If all of your multiple teams win, you win your parlay bet! Obviously, the more teams you choose for your parlay wager, the higher your potential payout, but the lower your odds of winning. Making a teaser bet means choosing multiple games to bet on, usually a minimum of two and not more than fifteen, while simultaneously changing (or teasing) the point spreads of each. Obviously, if you're allowed to add or take points away from a point spread, the sportsbook must lower your possible payout. Your payout drops, but your chance of winning increases.

As you can see, a parlay bet allows you to place a small wager with the possibility of a huge payout. Making a smart two or three team teaser bet can allow you to bet a greater amount of money than you usually do, while offering you lower risk. It really depends on what you are trying to achieve from your online sportsbook. Some online bettors love making small $2, $5 and $10 parlays with 6, or 8, or 10 teams. This seemingly insignificant wager can pay as much as 300 to 1 if all 10 of your teams hit, and some online sportsbook regulars bet parlays only.

Then there are those sports bettors who absolutely love teasers. Once they spot a favorable line, total or point spread, they then "tease" 2 or more lines, and protect their bet by lowering their risk. This does lower the payout rather than making individual bets on the same games without teasing the lines, but capital preservation is usually the goal here. All online sportsbooks are not created equal, and different sports and individual athletic contests are sometimes treated differently, but the basics are the same. Make a multiple team parlay bet when you want to maximize your return as long as you understand you will have much higher risk. Make a multiple team teaser bet when you see a couple of lines, totals or point spreads that look attractive, and you want to minimize your risk. Now you can log onto your favorite sportsbook account, and start playing parlays and teasers like a professional gambler.

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