European sports betting company Kambi has unveiled a new twist on parlays. The company is distributing the Teaser+ for immediate integration into online platforms like DraftKings Sportsbook and SugarHouse ahead of the NFL season in the U.S.
What even is a teaser?
For sports bettors new to the game, this announcement probably sounded like some kind of industry jargon. However, Teaser+ may end up becoming a close friend of many.
For those who are unsure, a teaser is a type of parlay bet. In a parlay, the bettor makes a single wager on a combination of events.
In order to win, the bettor must guess correctly on every single leg of the bet – for example, every team he or she bets must cover or beat the point spread. Obviously, making multiple correct picks is more difficult, and parlays come with higher payouts because of their increased risks.
Enter the teaser. A teaser allows the bettor to receive an adjustment on each game’s point spread in his or her favor. In return, the player receives a reduced payout amount.
Essentially, teasers appeal to sports bettors who are generally too risk-averse to attempt a parlay wager. A teaser is a way to hedge against the difficulty of pulling off a successful parlay.
Okay, so what is a Teaser+, then?
Custom teaser rates
The problem with the traditional teaser is that the line adjustment is applied uniformly across all legs of the parlay. However, not all games and matchups are created equal, and the adjustments end up being too much or not enough.
Teaser+ solves that problem. Instead of using blanket odds tables, Kambi uses alternative lines generated in-house that takes the team selections, match factors, and other variables into account.
The result is a group of teaser rates that are more precise for each wager. According to the press release, Teaser+ rates almost always result in a more generous adjustment than traditional teaser rates.
Pushes are no longer a problem
Another issue that bettors face in traditional parlays and teasers is when the teams push on the spread. Typically, since a push is decidedly not a win, the parlay drops that leg of the bet and pays (or doesn’t) with the reduced odds of a lower-tiered parlay.
Teaser+ basically breaks down parlays into individual bets. Because of that, the Teaser+ can treat ties like pushes and keep the teaser alive for its remaining legs.
This flexibility even works in a two-team bet. Teaser+ would simply push one game and pay the other as a single game wager.
“Kambi’s Teaser+ has the potential to fundamentally change how both operators and bettors consider teaser bets,” said Kambi CEO Kristian Nylen, in a press release. “Our modern approach (is) a step away from the current one-size-fits-all system (and) deliver(s) a fairer and more advantageous price to the player.”
Kambi continues to lead in sports betting innovation
Both DraftKings and PlaySugarHouse are already operating another Kambi product, Cash Out. Cash Out is a groundbreaking live ticket system that allows players to receive payouts on open tickets at any time during the match.
Players can even cash out after preliminary legs of a parlay. Essentially, every wager on DraftKings or PlaySugarHouse is now an in-game bet.
The payoff amount adjusts according to how the match or matches are proceeding, and obviously, players pay a premium for the reduction of risk. Still, the Cash Out system is nothing short of revolutionary, since players can hedge against last-second losses or the weakest leg of a parlay.
Teaser+ is not quite that much of a paradigm shift. However, players who were considering dipping their toes into the world of parlays should welcome the addition.
The result of Kambi’s innovation is a more intuitive and customized teaser system. Ultimately, it’s a win for both sportsbook and player.