What is a Teaser?Ī teaser bet is a type of sports bet where you can adjust the point spread or total of multiple games in your favor. In this article, we’re going to be looking at what is a teaser in sports betting, how the bet works, real-world examples, and strategy related to teaser betting. A teaser is an extension of a parlay bet that allows bettors to increase or decrease lines on totals and spread bets, in exchange for a slightly lower payout.