If Bets allow bettors to place subsequent wagers if their initial wagers are successful. Some people get confused between ‘if bets’ and parlay bets, but hopefully this article will clear everything up for you.
If Bet Example
Let’s say you are betting on the New Orleans Saints at 1pm and you want to place the same bet on the Green Bay Packers at 4:30, but only if the Saints win the game. This is the type of situation that ‘if bets’ are meant for.
Let’s say you place a $110 If Bet on the Saints and the Packers to cover their spreads (each with odds of -110).
The Saints win their game. At this point you have a $100 profit. The initial $110 bet moves on to the Packers game. The Packers win and you now have a $200 profit.
The Saints win their game. At this point you have a $100 profit. The initial $110 bet moves on to the Packers game. The Packers lose, now you have a $10 loss.
The Saints lose the game. The Packers bet is not placed and you have lost $110.
The second part of the if bet wager may not exceed the initial risk amount. However, if you want to place a $110 bet on the Saints, followed by a $55 bet on the Packers this is allowed.
If Bets are not limited to just two teams. If you wanted to place a wager on the Bears at 8:30, only if the Packers won their 4:30 game that is totally legitimate.
Where Can You Place ‘If Bets’
If Bets are not a common bet and it’s becoming rare to find online sportsbooks that offer this type of wager.
BetOnline.ag, our top rated betting site, does still accept ‘If Bets’ and prominently shows this option on their Bet Slip. Here is a screenshot of a Bet Slip for an If Bet wager on two NBA games.
In this example I’m betting $100 on the Toronto Raptors to defeat the Milwaukee Bucks. If the Raptors win then my $100 bet on the Miami Heat will have action.
You can see that my total risk on this bet is $100 because if the Raptors lose the Miami Heat bet will not be placed.
When To Use If Bets
The best time to use ‘If Bets’ is when you want to limit your risk. As you can see from the example above I’m only risking $100, but I can have action on both games if the Raptors pull off the upset in the early game.
Another time to use If Bets is when you think the outcome of one game could affect the outcome of another game. An example would be if Team A wins a game and it allows Team B to make the playoffs if they win their respective game. With ‘If Bets’ you can lock in the odds of certain scenarios before they happen. You can also play these types of angles with parlay bets, but ‘If Bets’ allow you to control your exposure to the subsequent legs.