Columnist Jeff Haney: Bury the notion that teasers are for suckers

Wednesday, Aug. 31, 2005 | 9:39 a.m.

Jeff Haney's sports betting column appears Wednesday. Reach him at (702) 259-4041 or haney@lasvegassun.com.

The Sun's Jeff Haney will be this Friday night's guest on the Leroy's Sports Hour on KDWN 720-AM. The program airs 8-9 p.m. Friday live from the sports book at the Riviera hotel-casino. Jimmy Vaccaro and John Kelly host.

The popular football wagering proposition known as a "teaser" is at times erroneously dismissed as a "sucker bet."

Yeah, right.

The actions taken by Las Vegas sports books this NFL preseason should eradicate that notion for good.

Of the city's eight distinct sports books that offer favorable teaser odds during the regular football season, only one is accepting two-team teasers on preseason games -- and that property is limiting such wagers to a maximum bet of $55.

All of the other casinos in town either offer poor odds on teasers or flat-out refuse to accept two-team teaser wagers at any time.

Sucker bet, indeed.

A teaser is a specialized form of a parlay in which the sports book gives the bettor extra value in the point spread in exchange for paying a heavier vigorish, or commission.

For example, in the type of teaser we're concerned with, each of two NFL teams, in separate games, would be given 6 extra points in the betting line. The bettor risks $1.10 for each $1 he's trying to win, and both teams must cover the spread for the teaser to be successful. (If there's a "push," or tie, the wager is refunded.)

Take the first week of NFL action, when the New England Patriots are favored by 7 1/2 points against the Oakland Raiders on Thursday, and the Philadelphia Eagles are favored by 2 points against the Atlanta Falcons on Monday.

A teaser bettor might want to play the Patriots laying only 1 1/2 points (instead of 7 1/2) along with the Falcons getting 8 points (instead of only 2). Again, both legs of the teaser must win for the wager to be successful.

In his 2001 book "Sharp Sports Betting," Stanford Wong described the proper strategy for playing two-team, 6-point NFL teasers: Basically, concentrate on favorites of 7 1/2 to 8 1/2 points and underdogs of 1 1/2 to 2 1/2 points. This allows you to "capture" the crucial football point-spread numbers of 3 and 7 -- the most common margins of victory in NFL games.

That strategy is viable now as ever, according to Fezzik, the one-name Las Vegas professional sports bettor and all-around advantage player.

The refusal of local casinos to book preseason teasers should drive home the point that savvy bettors are getting the best of it on this wager, Fezzik said.

"Las Vegas sports books have been trained, when dealing with an area of betting that is somewhat unknown, that it's much safer to just say no," Fezzik said. "If, instead, they say yes and end up offering something that's profitable (for the bettor), they know the locusts will descend and make that bet over and over again."

Betting lines on preseason football games are more volatile than in the regular season -- but sports books protect themselves from that volatility by offering smaller maximum bets.

So if a team is a 2-point underdog, the books generally don't mind taking a maximum wager at plus-2, then another max bet at plus-1, then another at pick 'em, Fezzik said.

"What they are concerned about is getting whacked on teasers involving that 2-point 'dog," Fezzik said. "They're worried about someone coming in and betting a gajillion teasers, all wheeled to that 2-point 'dog."

Fortunately for bettors, eight sports books do offer favorable odds on 2-team, 6-point NFL teasers during the regular season, requiring bettors to risk $1.10 for each $1 they're trying to win.

The properties with the favorable odds, according to rules posted in their sports books, are: Wynn Las Vegas; Coast casinos; the Golden Nugget; Binion's; Terrible's; Arizona Charlie's/Stratosphere; the Plaza; and El Cortez.

Other casinos either do not accept 2-team NFL teasers, or require bettors to risk $1.20 -- or more (!) -- to win $1. (Those that do not accept the wagers are, in a way, doing bettors a favor, as laying more than $1.10 on these teasers is a losing proposition).

The Arizona Charlie's properties are the only sports books accepting these teasers in the preseason, albeit with $55 limits. Requests to bet more were denied.

While those low limits might not be worth the trip for a professional gambler like Fezzik, Arizona Charlie's should be applauded for making this wager available to recreational gamblers who want to play preseason teasers at fair odds. (Even if they can't get down a gajillion times.)

Going for 'Green'

When betting lines for the first week of the college football season were posted earlier this month, we immediately heard from local handicapper Bobby Bryde, who recommended taking the Bowling Green Falcons and 5 points in their game Saturday at Wisconsin.

Now that Bowling Green has attracted the attention of other handicappers as well -- and has been bet down to as low as a 2-point underdog -- Bryde certainly isn't wavering.

"Bowling Green wins that game straight up," Bryde said this week.

D-Rays prop

Oddsmakers at Caesars Palace will be paying close attention to next week's series between the New York Yankees and the Tampa Bay Devil Rays.

At the beginning of the baseball season, Caesars posted several head-to-head season series matchups, and the Yankees-Devil Rays pairing generated the most interest from bettors.

The Yankees opened a heavy minus-330 favorite (bettors risk $3.30 to win $1) to win their 19-game season series against the Devil Rays. Despite the steep price, money poured in on the Yankees.

Oddsmakers responded by adjusting the line to the Yankees, minus-3 1/2 games, minus-150, yet the one-way betting action continued.

Now, with six games remaining, the Devil Rays lead the season series, 9-4. One more win for Tampa Bay, and Caesars Palace makes a small fortune on the prop.

"Amazing how the Magic 8 Ball, the dartboard and the blind man all seemed to line up perfectly for us on this one, if we get that last win," said a Caesars representative.

Stardust update

Due to health problems, industry watchdog Jeff Jones has dropped out of the $10,000 Stardust invitational football handicapping contest. Handicappers Rich Dressler and Ron Boyles were named as the final two contestants to round out this year's 16-man field.

No wagering is permitted on the outcome of the contest per state gaming regulations, but on the informal "underground" betting line in Las Vegas, Fezzik and Dave Malinsky are co-favorites at odds of about 8-1.

We believe long shot Steve Cofield, host of the daily "Wise Guys" radio show on KENO 1460-AM, represents an overlay at odds of 19-1 on the underground line.

The single-elimination tournament begins Friday, Sept. 9, with Big Al McMordie squaring off against David Stratton in the opening week of competition.