This article explains how teaser bets are priced, how to calculate payouts under the two main models, and how grading rules change outcomes. It provides worked 6-point examples and practical checklists so you can verify a sportsbook's current paytable and grading rules before placing a teaser. We assume readers want a practical, reproducible process rather than a promise of profits. The guide focuses on mechanics and verification steps you can use across sportsbooks and sports.

Teaser payouts vary by sportsbook because of differences in paytables, dynamic pricing, and grading rules.

Common guide ranges: about -120 for a 2-team 6-point teaser and roughly +150 to +160 for a 3-team 6-point teaser.

Always confirm minimum legs and push grading in the sportsbook's house rules before calculating a payout.

Quick answer: what a teaser pays and why it varies

how does teaser bet work in short: a teaser combines multiple selections and moves point spreads or totals in the bettor's favor for reduced odds, but payouts are not universal because each sportsbook defines minimum legs, grading, and whether it uses fixed tables or dynamic pricing; published guides show typical ranges so bettors have a baseline to compare. Investopedia primer on teasers.

Common published ranges provide a useful starting point: for example, many guides place a 2-team 6-point teaser near -120 and a 3-team 6-point teaser around +150 to +160, while larger 10-point monster teasers often appear nearer to even money to -120 in traditional paytables, but actual payouts depend on the operator and season Covers teaser guide.

Verify paytables and grading before you bet

Check the sportsbook's current paytable and grading rules before assuming any payout or placing a teaser.

Review challenge rules

Because some U.S. books publish fixed paytables while others price teasers per leg similarly to parlays, the only reliable step is to consult the book's house rules and posted table or per-leg prices for the sport and teaser size you want VSiN guide on teasers.

A teaser is a multi-leg wager that adjusts point spreads or totals by a fixed number of points in the bettor's favor in exchange for reduced odds; unlike a parlay, a teaser changes the underlying lines for each leg before the bet is graded, which alters the probability of each individual outcome and the combined payout Action Network teaser overview.

Teasers typically apply to point spread and total markets in football and basketball, and common teaser sizes include 6-point and 10-point options, though availability and minimum leg counts vary by sportsbook and sport DraftKings sportsbook rules.

Each operator's house rules set the minimum number of legs and define how pushes or cancelled events are handled, so a teaser's practical profile depends as much on grading policy as on the advertised point shift.

Core mechanics: how teaser bets are priced and settled

Fixed paytables vs dynamic per-leg pricing

There are two common pricing models for teasers: traditional fixed paytables that list payouts for selected combinations of legs and teaser points, and dynamic pricing where each leg receives a per-leg price that is multiplied to produce the overall odds similar to parlay pricing; which model a book uses materially changes how you calculate the payout VSiN explanation of teaser pricing.

How does a teaser bet pay out, and why do payouts differ between sportsbooks?

A teaser adjusts spreads or totals in the bettor's favor and pays reduced odds according to either a fixed paytable or dynamic per-leg pricing; payouts differ because sportsbooks set their own paytables, per-leg prices, minimum legs, and grading rules for pushes and voids.

How odds change when you add legs or points

Under fixed tables, adding a leg moves you to a row with the listed payout for that leg count; under dynamic pricing, each extra leg multiplies additional per-leg juice and typically reduces the combined payout further, while increasing the points teased tends to push odds toward even money in many traditional tables Action Network on teaser pricing.

Step-by-step: calculate a teaser payout

Start by determining whether the sportsbook posts a fixed teaser paytable for the sport and teaser size you want; if it does, reading the table gives the exact payout for a matching leg count and point shift without further arithmetic Wizard of Odds teaser guide.

If the book uses dynamic per-leg pricing, obtain the per-leg price for each selection, multiply those decimal or American-converted prices to calculate the combined price, and then convert back to American odds as needed; always confirm whether pushes are treated as losses, reduced legs, or pushes because grading will change the final result Action Network on teaser calculation.

Checklist before you compute: confirm minimum legs, confirm sport and teaser point size, confirm whether the book uses a fixed paytable or dynamic pricing, and confirm grading rules for pushes and cancellations. See the Funded Plays blog for related posts.

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Review challenge rules

When a fixed paytable applies, follow the table entry that matches your leg count and teaser points; when dynamic pricing applies, collect per-leg prices and multiply them, then apply the grading rules for ties or voids to adjust the final payout as required by the house rules Covers explanation and example tables.

Worked examples: 2-team and 3-team 6-point teasers

Example A: 2-team 6-point teaser (typical fixed-table pricing)

Minimalist side by side infographic comparing fixed paytable row versus dynamic per leg multiplication with simple numbers showing how does teaser bet work on dark Funded Plays style background

Illustrative 2-team 6-point teaser example: published guides commonly list this combo around -120, which means a bettor would need to risk 120 units to win 100 units in that sample table; this figure is a common guide, not a universal rate, so always check the sportsbook's current table Covers 6-point examples. See the Fox Sports guide for additional perspective.

Why that pricing appears: moving two NFL spreads by 6 points often crosses helpful margins for both legs while the book reduces the payout to reflect the improved win probability, which is captured in the fixed-table entry near -120 in many published samples.

Example B: 3-team 6-point teaser (fixed and dynamic comparisons)

Illustrative 3-team 6-point teaser example: many guides place this option near +150 to +160 in fixed tables, meaning a 100-unit wager would return about 150 to 160 units profit in those sample paytables, but a dynamic-pricing book might produce a different result by multiplying three per-leg prices to reach the combined price Covers 3-team guide.

Comparing fixed and dynamic approaches in practice shows why the published +150 to +160 range matters: fixed tables group common leg counts into readable payouts, while dynamic pricing reflects current per-leg market prices and can produce higher or lower returns depending on each leg's implied probability and the book's per-leg margins Wizard of Odds on teaser math.

How grading rules, pushes and voids change the payout

Grading rules are a frequent source of surprise for teaser players; common approaches include treating a push as a loss, reducing the teaser by one leg when a tie occurs, or pushing the entire bet, and those distinctions change the realized payout even when the listed paytable looks attractive FanDuel sportsbook house rules.

estimate combined teaser price from per-leg prices

Use when book provides per-leg prices

Example of grading impact: if a 3-leg teaser wins two legs and the third is a push, some books will treat the result as a winning 2-leg teaser at the corresponding paytable or per-leg product, while others will make the entire ticket a push or count the push as a loss; always read the house rules to know which outcome applies DraftKings rules on grading and pushes.

For cancelled or voided legs, many books drop the leg and pay the ticket according to the remaining legs, but the precise adjustment differs, so accounting for that possibility is part of any accurate payout calculation.

Availability and special cases: monster teasers and sport limits

A 10-point or so 'monster' teaser typically gives a large point shift and in traditional tables often prices near even money to -120 for a three-team combo, though some operators limit monster teasers or price them differently, so you cannot assume universal availability or consistent odds across books Covers on monster teasers. See OddsShark for another chart of sample monster teaser prices.

Availability also varies by sport and market; some books restrict large-point teasers to certain leagues or only allow them in football and basketball, and the offered odds or limits will reflect those product constraints VSiN on sport-specific teaser rules.

Expected value and key numbers: why 3 and 7 matter in football

Key numbers in football, especially 3 and 7, matter because many spreads fall around those margins; moving a spread by 3 or 6 points can cross those key numbers and materially change the win probability for a leg, which is the core reason teasers can deliver positive expected value in select situations if priced correctly Action Network on key numbers.

Estimating expected value means comparing how often your adjusted lines cross relevant key numbers, then combining that frequency with the sportsbook's posted pricing or per-leg multipliers to see whether the payout compensates for the true change in probability. See how Funded Plays evaluations work.

Decision criteria: when a teaser makes sense

Use this checklist to decide whether to place a teaser: confirm the current paytable or per-leg pricing, confirm minimum legs and grading rules, evaluate whether teased shifts cross key numbers for your selections, compare the teaser's payout to available parlay or single-bet alternatives, and check that the stake fits your bankroll plan Action Network decision guidance.

Trade-offs to weigh: teasers lower variance by improving each leg's raw win chance but also lower upside because payouts shrink; when lines do not cross meaningful key numbers, single bets or a parlay may offer better expected return than the teaser structure.

Bankroll and risk management for teaser players

Size teaser stakes relative to your bankroll and do not treat teasers as a shortcut to fast gains; because payouts and grading rules vary, record results separately and adjust stakes as you learn how a specific sportsbook's paytables and pushes affect realized performance Action Network on bankroll management.

Monitor variance and track how often pushes, voids, or grading quirks alter long-term returns, since those factors materially affect realized profitability even when sample paytables look favorable.

Common mistakes and how to avoid them

Common errors include assuming a published guide applies to every sportsbook, ignoring how a push is graded, and failing to verify the current paytable or per-leg pricing; these oversights change expected outcomes and can lead to consistent mispricing of teaser risk versus reward Wizard of Odds common errors.

Fixes are simple: always re-check the house rules and paytable before each bet, document how your book grades ties and cancellations after a ticket resolves, and treat sample numbers from guides as illustrative averages rather than guaranteed rates Covers on verification.

Conclusion: checklist and next steps

Quick checklist before placing a teaser: confirm the paytable or per-leg prices, confirm minimum legs and grading rules, calculate the expected payout for your exact selections using the book's model, and ensure the stake fits your bankroll plan FanDuel house rules for reference.

Teaser payout figures in published guides are useful benchmarks, but remember they are illustrative; verify current house rules and pricing for the sportsbook you use and focus on disciplined sizing and record-keeping to judge whether teasers improve your long-term results. Visit Funded Plays.

What is the difference between a fixed paytable teaser and a dynamically priced teaser?

A fixed paytable lists set payouts for specific leg counts and point shifts, while dynamically priced teasers use per-leg prices that are multiplied to create the overall odds.

How do pushes affect teaser payouts?

Pushes are handled differently by each sportsbook; some reduce the ticket by one leg, some treat a push as a loss, and others push the entire bet, so check the house rules.

Are 10-point monster teasers always available?

No, availability and pricing for 10-point monster teasers vary by sportsbook and sport; some operators limit or price them differently.

Use the final checklist before you place a teaser: confirm paytable or per-leg pricing, check grading rules for pushes and voids, calculate the payout for your exact selections, and size the bet to match your bankroll plan. Published guide numbers are illustrative; rely on the sportsbook's current house rules for any final decision. Responsible, repeatable verification is the best way to know whether a teaser suits your strategy in a given market.