If you are still a little confused about what a teaser and parlay is maybe this will help you to understand them a bit. A teaser is a type of wager used in sports betting most commonly in basketball and football. This wager is a multi-team wager, allowing the bettor to choose a minimum of two teams up to, in some cases, 15 teams. The bettor will get points on his favor to add or subtract to the teams chosen to improve the point spread chosen, but will get a lower return if they win.
This can be tremendously advantageous if you think you have a lock on one team, but aren’t so sure of another. When you bet a teaser you’re betting on two teams. You get a lower return if you bet those teams separately, but the chances of you winning goes up. That’s the bonus of betting a teaser.
A parlay is when you bet on more than one team at the same time, and if they all win you get a lot bigger pay out. For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the bettor receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately.
Betting a parlay adds a bit of zest to an average bet. If you can hit a parlay it’s huge; huge pay out, huge for the ego, and huge excitement. Betting alone can be exhilarating, but hitting a parlay brings it to a new level. It’s like taking a scoop of ice cream, and turning it into a sundae. The parlay bet is it’s own bonus.