Teaser vs Parlay: When Is Each Worth Betting?
Both combine multiple legs, but a teaser buys points on every spread in exchange for a lower payout. That trade is terrible in general - and occasionally excellent around football's key numbers.
Teaser
Move every spread 6-7 points in your favor for a reduced combined payout.
Pros
- Much higher per-leg win rate
- Wong teasers historically clear break-even
- Crossing key numbers adds real equity
Cons
- Payouts far below parlay odds
- Only worthwhile crossing 3 and 7
- Books have tightened teaser pricing
Parlay
Combine legs at full odds; every leg must win at its original number.
Pros
- Full multiplicative payout
- Works across all sports and bet types
- Simple risk/reward math
Cons
- Compounded vig on every leg
- No protection from near-misses
- House edge rises with each leg
The Verdict
Random teasers are worse than random parlays, but Wong teasers (crossing 3 and 7 in the NFL) are one of the few structurally +EV bets available to recreational bettors. Parlays win on payout ceiling; disciplined teasers win on hit rate.
Frequently Asked Questions
What is a Wong teaser?
A 6-point, two-team NFL teaser where each leg crosses both 3 and 7: favorites -7.5 to -8.5 teased down, or underdogs +1.5 to +2.5 teased up. Each leg historically wins about 73-75%, above the 72.4% break-even at -120.
Do teasers pay less than parlays?
Substantially. A 2-team parlay at -110 pays about +264; a 2-team 6-point teaser pays about -120. You're selling payout to buy 6 points of cushion per leg - only worth it when those points cross key numbers.