All About Parlays and Teaser Bets

Multi-bets offer sports bettors in the Philippines huge payouts and loads of fun. Learn all about placing parlays and teaser bets online with our guide.

There are many different types of bets you can opt for when it comes to online sports betting. In the Philippines, the most popular options at online sportsbooks are parlays and teaser bets. These allow you to wager on multiple events or outcomes simultaneously.

Although placing single bets offers the best way to build up your bankroll, multi-bets have many advantages, too. Of course, it can be hard to succeed with your selection for parlays or teasers. However, if you are lucky and get all outcomes right your winnings will be exponentially larger. All about how parlays and teaser bets work you can find right here, in our full guide.

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What is a Parlay Bet?

Parlays, or parlay bets, are a type of wager where multiple bets are combined into one with bigger payouts. However, you have to predict correctly the outcome of every event you select for the parlay bet to win. Of course, the more games you add to your parlay bet, the bigger profit you expect to get. Moreover, you may combine popular bet types like money line, totals, over/under into a single bet.

What is a Teaser Bet?

Teasers or teaser bets are a type of multi-bet, just like parlays. In other words, you get to combine multiple bets into one for a bigger payout. Of course, with teasers, you need to predict all outcomes correctly, too, in order to win. However, these are much easier to win because you get to adjust the point spread on several games in your favor. Hence why many people prefer teaser bets over parlays.

How to Place Parlay and Teaser Bets Online

Parlays and Teaser Bets in Practice

Now that you know what parlays and teasers are, let’s look at an example for each:

The Parlay Bet

Suppose you think that the Cavemen will cover the spread against Datu but also that the Warriors will beat the Juggernauts in the same week. In a parlay, you can combine these games into a single bet to win a bigger payout. However, you lose your bet when one leg of the parlay bet is lost.

The Teaser Bet

A six-point teaser is the most common in sports betting today. In this case, you have to predict two games correctly. However, you will get six additional points on every line in the bet. For instance, let’s say both the Cavemen and Datu are your favorite teams and you are not sure if they will cover their respective spreads. Rather than opting for a parlay bet, you can tease the point spread in your favor to reduce the risk of losing. So, if four of your favorite teams in PAFL are awarded points as follows:

  • Cavemen -8.5
  • Datu -7.5
  • Warriors -9.5
  • Juggernauts -10.5

You can adjust the payouts by adding a 6-point teaser and get:

  • Cavemen-2.5
  • Datu -1.5
  • Warriors -3.5
  • Juggernauts -4.5

Though the teased bets have better odds, the payout is relatively smaller. Thus, you must risk more money to get a substantial payout.

Parlays vs. Teaser Bets

Although parlays and teaser bets may seem similar, there is one key difference. With parlays, you combine different bets to create one massive payout. On the other hand, while teasers also combine single bets into one multi-bet, you get to adjust the point spread. This way, you can shift the odds in your favor.

What If There Is a Tie?

On a similar note, you might be wondering about what happens when there is a tie. In sports betting, a tie between the bettor and the sportsbook is called a push. In that case, the sportsbook refunds you in full and you will suffer no loss.

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Are Parlays and Teaser Bets Worth the Risk?

Naturally, multi-bets are more complicated than single ones. They require you to pay close attention to the events you select in order to win. Moreover, it’s important to remember that parlays and teasers are always in favor of the sportsbook. In fact, they lack a positive expected value and hence are considered unfavorable by most. However, the high potential payouts may be worth it if you’re confident in your selection.

Generally, most online sportsbooks will calculate the potential payouts for you. Hence, there’s no need to worry about mastering many formulas. Alternatively, you can use an online calculator for a quick check. But if you wish to calculate the payouts and odds, the process is pretty simple. Here are the steps to follow:

  • Convert the odds to decimal;
  • Multiply all decimal odds;
  • Multiply the results with your bet amount;
  • Minus your initial stake to get the parlay odds. For teasers you’ll have to adjust the odds after converting to decimals.

Top Tips for Parlays and Teaser Bets

  • True odds vs. reality – remember that what the real odds are and what bookies offer are not the same thing. Sportsbooks always set the odds in their favor.
  • Don’t get carried away – multi-bets are fun but be careful. Try not to get carried away, especially when you get big wins.
  • Learn how correlated parlays work – this way you will be able to make the right decision even in tricky situations.
  • Check on how pushes are handled – every sportsbook is different. If this information is not available, you should contact the support team.
  • Take advantage of reduced parlays and bonuses – use these bonuses to boost your bankroll as you place parlay bets.
  • Stay humble – don’t be greedy for bigger wins. It would be best if you placed bets on teams you are sure will win.


Parlay and teaser bets are among the most popular wagers online. They attract many because of the huge payouts they offer. Although they require a careful selection of the outcome predictions, the returns are certainly worth it. Especially when you place big wagers on bets you’re confident in. Not to mention, you can apply parlays and teaser bets to different types of sports, too. Find out which online sports betting platforms can offer you the best experience with multi-bets on our recommendations page. There we’ve got reviews of the top online gambling destinations in the Philippines.


To place a parlay bet, go to your sportsbook and navigate the games section. Then pick two or more teams, enter the bet amount and play.

There are different types of teaser bets, including a 6-point teaser, a 10-point football teaser, and 4-point basketball teaser.

There are many sports where you can apply parlay and teaser bets. The most popular ones in Philippine sportsbooks are basketball and American football.

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