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Parlays and Teasers

Parlays and teasers are the two most popular exotic sports bets.  Both of these sports wager types require players to include at least two outcomes.  For teasers, these can include point spreads and totals.  Parlays can use spreads, totals, and money lines.  Parlays may include picks across multiple sports, while all bets on a teaser must be on the same sport.

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A standard parlay takes a point spread, total, or money line right off the board.  Parlays can contain anywhere from two to ten outcomes.  Each outcome must win or tie to keep the parlay alive.  Any loss will kill the card and make it lose.  A tie or push will drop and lower the payout by one outcome.  For example, a four-team parlay that has three wins and a tie would be paid as a three-teamer.  This rule does not apply to parlay cards that specifically state that ties win or lose.

Standard Point Spread and Total Payouts

The following parlay card payouts refer to point spreads and totals in football and basketball. Some smaller Las Vegas and large, safe online books offer slightly better odds. In general, Jerry’s Nugget is the best place to make parlay bets in Las Vegas.

  • Two Team: 13-5
  • Three Team: 6-1
  • Four Team: 10-1
  • Five Team: 20-1
  • Six Team: 40-1
  • Seven Team: 80-1
  • Eight Team: 160-1
  • Nine Team: 360-1
  • Ten Team: 720-1

Money line parlay payouts that can be made on any sport are determined by taking multiplying the house edge on each individual bet. This is also done when combining money lines with point spreads or totals.

Ties Lose Parlay Cards

Ties lose parlay cards have higher payouts than traditional parlays.  These are much more difficult to hit because the sports book will intentionally put numbers in key places, like 3 and 7 for football.  A game that lands on one of those numbers will kill all parlay cards that picked it on both sides.

Some ties lose parlay cards will contain only primetime games.  These will offer just the night game point spreads and totals with a variety of prop bets.  The props include number of fumbles, interceptions, field goals, and touchdowns.  These numbers will nearly always be even so that anyone that takes either side of the bet loses the entire card if the prop bet pushes.

Ties Win and Half Point Parlay Cards

More desirable cards are called ties win or half point.  Both have the same concept.  Neither card can be lowered or graded a loser due to a push. On ties win cards, look for football games with spreads of 3 and 7. On half point parlay cards, check for games that had spreads on 3 and 7 and see which way the line moved a half point. Take the other side that gets the free hook, another way to describe a half point.

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Football Teasers

Teasers allow players to add points to a spread or total to increase the advantage. The most common football teaser cards offer 6, 6.5, and 7. Some sports books will also offer 10 and 14 point teaser cards.  These are usually complete sucker bets.

Football Teaser Payouts

The following are common teaser payouts in Las Vegas and at online sports books. Certain sports books will offer better returns so it is always a good idea to shop around.

Six Point Teaser Payouts

  • Two Team: -120
  • Three Team: +160
  • Four Team: +250
  • Five Team: +450
  • Six Team: 7-1
  • Seven Team: 9-1
  • Eight Team: 10-1

Six and a Half Point Teaser Payouts

  • Two Team: -130
  • Three Team: +140
  • Four Team: 2-1
  • Five Team: 4-1
  • Six Team: 5-1
  • Seven Team: 8-1
  • Eight Team: 9-1

Seven Point Teaser Payouts

  • Two Team: -140
  • Three Team: +120
  • Four Team: 2-1
  • Five Team: 3-1
  • Six Team: 5-1
  • Seven Team: 7-1
  • Eight Team: 8-1

Basketball Teaser Payouts

Basketball teasers are typically 4, 4.5, or 5 points. These have different payouts than football teasers.

Four Point Basketball Teaser Payouts

  • Two Team: -110
  • Three Team: +180
  • Four Team: 3-1
  • Five Team: 4-1
  • Six Team: 6-1
  • Seven Team: 9-1
  • Eight Team: 12-1

Four and a Half Point Basketball Teasers Payouts

  • Two Team: -120
  • Three Team: +160
  • Four Team: +250
  • Five Team: 4-1
  • Six Team: 5-1
  • Seven Team: 7-1
  • Eight Team: 9-1

Five Point Basketball Teaser Payouts

  • Two Team: -130
  • Three Team: +150
  • Four Team: 2-1
  • Five Team: 3-1
  • Six Team: 5-1
  • Seven Team: 7-1
  • Eight Team: 9-1

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