If Betting

What is an If Bet?

An if bet allows you to construct a wager with multiple bets inside of it in a conditional format. The idea is straightforward; after your initial bet is placed, the subsequent bet only takes effect if the first one is a winner. This bet type is a popular choice amongst bettors who wish to minimize risk while maintaining the chance of earning more than one payout.

By linking bets together via an if bet, you can control how much you risk and avoid losing every wager if the first one doesn’t hit. An if bet provides flexibility to the gambler and a safer alternative than parlay bets which can be deemed aggressive in comparison.

How If Bets Work

With an if bet, the bettor starts out by placing an initial wager on a game or event. If that first bet is a winner, the amount risked or won is automatically applied to the subsequent bet that you pre-placed in your sequence. 

As an example, let’s say you placed an if bet on two NFL games. If the first bet on the Steelers wins, the profit from the wager or otherwise specified amount is placed on your second bet for the Jets. If the Steelers lose, the amount risked on the first bet is the only money you lose. If the Steelers win, however, the profit or amount risked, based on the structure of the if bet, is then placed on the Jets.

As you can see, an if bet in this example allows you as a bettor to manage your exposure to risk by only committing further funds with the amount of money you won on Bet A.

Types of If Bets

• If Win Only Bet: The second or subsequent bets are placed in the sportsbook only if the first bet wins. If the first bet in your sequence is lower, the entire if bet is graded as a loser.
• If Win or Push Bet: The second or subsequent bets are placed in your bet slip only if the first bet wins or results in a push (draw). This type of if bet gives the bettor more chances to keep their bet alive, even if they don’t get an against-the-spread win in the first bet.
• If Action Bet: Provides the ultimate flexibility, giving the bettor the ability to adjust their subsequent bets after the first wager is settled.

Pros and Cons of If Bets

Pros

• Manage risk and control your exposure to subsequent bets by only allowing yourself to lose a certain amount
• Less risky alternative to parlays, which require all bets in your sequence to hit for the bet to be a winner at all
• Provides a flexible bet structure that allows more control over how your wager plays out given that it is on multiple, subsequent events

Cons

• Lower payouts compared to traditional parlays, because each bet relies on the previous one hitting versus the all-or-nothing nature of full parlays
• They can be difficult to manage, especially when the subsequent events happen in close proximity to to one another from a time standpoint
• Must carefully plan and strategize in order to maximize winnings with if bets, making them not ideal for new bettors

Strategies for If Betting

To make sure you get the most out of your if bet, you’ll have to be strategic in how you place your bets. A common approach that can prove to be profitable is wagering on events that are likely to be correlated, such as two teams in a tournament where the outcome of their games affects each other. 

You can also use a strategy of if bets where you can hedge against other bets that you’ve made outside of your if bet. This will reduce your overall risk while still giving yourself a chance to turn a profit. It’s crucial to understand the risks and potential profits of your if bet journeys, so make sure to start small as you learn the bet type. Well-researched bets give yourself the best chance to ease into if bets while still turning a profit if all goes to plan. 

Conclusion

If bets are just one more bet type to add to your arsenal of ways you can bet on sports today. They provide an excellent strategy for bettors who prefer a more calculated approach to betting on sports, offering a way to control risk while making multiple bets without betting all-or-nothing on a single wager. 

If you wish for a more flexible way to place bets that offer an alternative to parlays, providing room to adjust wagers within a single bet, then an if bet is the right bet for you. In the end, it’s a great betting strategy that rewards careful planners who make informed decisions on all of their bets.

FAQ

How are reverse bets related to if bets?

Reverse bets are closely related to if bets, as they are essentially two-way if bets. In a reverse bet, wagers are placed on both possible outcomes of an if bet sequence, ensuring that all potential combinations are covered. This increases the chance of a return by eliminating the reliance on the first outcome, while also adding complexity and higher potential risk.

Can I place an if bet on live games?

Yes, most sportsbooks allow you to place if bets on live games, but conditions for placing your subsequent bets will vary depending on the sportsbook.

What types of bets can be included in an if bet?

Many types of bets can be included in an if bet including moneylines, point spreads, total bets, and more. Make sure you check the terms of conditions of your sportsbook to make sure you know all the options you can include.

How are payouts calculated in an if bet?

Payouts on if bets are calculated based on the odds of each of your individual bets, with the profits or specified amount risked one each bet being rolled into your next bet if the previous one is a winner.

What is the maximum number of bets allowed in an if bet?

The maximum number of bets allowed on an if bet will vary by sportsbooks, and depending on the rules of the individual sportsbook.

Can I cash out an if bet early?

Yes, you can cash out of an if bet early, as different sportsbooks allow different cashout options based on the portion of your winnings you are rolling forward.