Already powering two mobile products for NJ sports betting, Kambi Group announced Friday it introduced a new twist on a traditional wagering format.
In a release, the European sports betting company said it has “developed an innovative version of the popular teaser parlay.”
Debuted in time for Thursday’s NFL season opener, Teaser+ represents “a new method of pricing the wager which delivers greater value to bettors than the common teaser product.”
What is Teaser+?
Available on both Kambi-powered NJ sportsbooks — DraftKings Sportsbook and SugarHouse Sportsbook at its online casino — Teaser+ was developed by Kambi’s “in-house trading team,” according to the release.
That team generates prices based on each individual leg of a bettor’s selected parlay.
A teaser is a type of parlay wager in which players make single bets on a combination of games or matches. To earn a payout, each leg of the parlay must be met.
With a teaser, each event’s point spread is adjusted to better favor bettors, which results in a lower payout.
How does Teaser+ work?
The downside of a teaser is, traditionally, the line adjustments are overarching overall legs of a parlay. With Teaser+, that problem is resolved.
Alternative lines are generated in-house by Kambi that takes into account team selections and matchup factors, among other variables. As a result, rates become more precise for each bet, according to the release, and “almost in every instance generates a more generous price when compared to the odds tables used by other operators and suppliers.”
Additionally, pushes are virtually eliminated. In traditional parlays, when a spread is pushed in one leg, that matchup is scratched and leads to a lower payout.
With Teaser+, parlays are treated more like individual bets. In the event of a push and a win in a two-team parlay, for example, users would be paid as if winning a single-game wager.
“Kambi’s Teaser+ has the potential to fundamentally change how both operators and bettors consider teaser bets,” Kambi CEO Kristian Nylen said in the release, “with our modern approach a step away from the current one-size-fits-all system to deliver a fairer and more advantageous price to the player.”
Kambi innovations continue
The New Jersey online sports betting market has become crowded over the past few weeks.
Six products have become available, from DraftKings Sportsbook launching at the beginning of August to Caesars Entertainment rolling out its online operation and its Caesars Casino & Sports app on Thursday.
Kambi, though, has found ways to help DraftKings Sportsbook and SugarHouse Sportsbook, which went live at the end of August, stand out.
Both offer a Cash Out option, which allows bettors to receive payouts on wagers that have yet to be resolved. With Teaser+, Kambi provides players who are inexperienced or cautious with parlays to get in on the action.
“For two decades, Kambi has been at the forefront of sportsbook innovation, releasing products and enhancements that have raised the bar in user experience, which ultimately drives greater returns for our operators,” Nylen said in the release. “When we considered how the market priced the classic teaser, we felt the processes involved had failed to evolve with the wider industry, or kept pace with technology, therefore we identified and implemented a more efficient and transparent way of offering these bets.”