When betting on NFL games, handicappers have the option to either bet the point spread or the total. The most common type of bet is a straight bet where bettors just pick one side to win. When playing the spread or total, handicappers typically have the lay $110 in order to win $100. The extra $10 is considered the “juice or vig” that the books place on the game for their cut at taking the bet.
In order for handicappers to maximize their bets, books also offer “parlays” or “teasers” that can give them greater bang for their buck.
A parlay is when handicappers select a minimum of two winning bets and in order to win, both must win. If bettors win one of the bets on their parlay, but lose the other, the bet is a loss.
For example, sat a two-team parlay pays 2.6 to 1, and handicappers wagers a $100 bet on a two team parlay. That means the bet would pay out $260 in profit if they win. This is a common bet placed amongst those who are looking to put together a few of their best plays in order to maximize their wins with a minimal risk.
When playing a parlay, if one bet ties the spread or total, the bet reduces from a three-team parlay to a two- team parlay. And while parlays can provide the greatest amount of pay, they come at a risk, because it is hard enough to pick just one winner, but now handicappers must have all of their teams on a parlay win in order to cash in on their wager.
Another parlay option is the NFL “teaser.” The NFL offers either a 6, 6.5, 7, or 10 point teaser.
In a teaser, handicappers are able to add additional points to whatever side they want, but must select multiple teams and they must also win, similar to a parlay.
When making a teaser bet, the odds are not nearly as tasty as they are in a parlay because the “juice or vig” is higher because the bettor is getting the additional points.
Teasers are very common because bettors feel that if they are able to add additional points to the regular line, they have a better chance of winning.
However, when making a teaser bet, handicappers need to make sure to read all of the conditions to the bet. Some teasers are a loss if one bet is a tie, so it is always important to check if that may apply.
Finally, when making an NFL parlay bet, it may seem like the best way to make the most out of your money.
The enticing bet can also be the problematic bet as bettors can get five out of six bets right on a parlay or teaser, but still lose the bet.
So, when making a parlay wager, choose wisely and always remember do place your bet that will get you the greatest value.