Many people like betting teasers in football since it gives them a chance to increase their odds by increasing or reducing the spread in their favor. A team that is an eight-point favorite might become a two-point favorite with a six-point teaser, while their opponent would suddenly be a 14-point underdog. By teasing several bets into a parlay, many bettors feel confident that they can have the margin of error needed to get themselves some easy money.
Of course, if winning teaser parlays were that easy, sportsbooks would not offer them to bettors. While it’s obviously easier to win when the odds are teased, the reduced payback on a winning parlay almost always eliminates your advantage. However, if you choose to use a sophisticated teaser betting strategy, you might be able to reclaim that advantage and make some teaser bets work for you.
One of the most popular teaser betting strategies is the Wong Teaser. It’s named after Stanford Wong, which is the pen name for John Ferguson, a Stanford graduate. Wong first published his teaser strategy in his 2001 book “Sharp Sports Betting.” The theory is that the most common margins of victory are three points and seven points. The Wong Teaser theory is to tease any game with a +1.5 to +2.5 underdog or a -7.5 to -8.5 favorite in order to push the point spreads away from those possible outcomes.
There is some solid math in the theory and there is evidence that people have been successful with it. However, there is also a belief that casinos have caught up with the Wong Teaser and are setting odds to ensure that these bets don’t come into play as much as they once did. Many sportsbooks have also changed the odds on a two-team NFL teaser from even money to -110 or -120.