A Teaser bet is a bet where you can move the spread by a set amount in your favor when wagering at least two teams like a parlay.
Regular line: New England -3 and Atlanta +5
6 point teaser: New England +3 and Atlanta +11
These wagers are usually exclusively offered for football and basketball. The sort of teams selected and the sort of points selected determine the payout odds.
As in a parley, all your plays must win to win a teaser except when one or more of your plays tie. In a teaser with 3 games or more, a tie results in a push for that particle game, and the teaser is reduced by that one game (a 4 game teaser becomes a 3 team teaser). If a 2 game teaser has a tie and a winner, then the teaser pushes and there is no action. If a 2 team teaser has a tie and a lose, the teaser losses.