IF BET: If Win and If Action
by: Marc Jerbs
An If Bet allows the bettor to increase his betting power and limit his risk by placing multiple bets on one betting ticket; each individual bet after the first bet will only have action if the previous bet in the sequence is successful. This limits his risk to the dollar amount of the first bet on his betting ticket.
An If Bet is also useful if the bettor wants to make more than one bet, but does not have adequate funds in his account to cover the second bet unless the first bet wins. An If Bet will place the second bet immediately upon success of the first bet. If Bet rules are as follows:
One If Bet can contain two to seven individual bets.
If Bets must be made prior to the start time of the earliest event.
Bets do not have to be made in the order of each event's start time.
The first bet's limit is set by the house.
Additional bets in the sequence use the bet amount of the first bet.
The first bet is always placed unless it is considered a no action event.
Two Types of If Bets
The bettor chooses the order of each bet in the series. The first bet is always placed. Each subsequent bet is placed only if the previous bet wins. If any bet in the If Win series loses, ties or is considered no action, then all subsequent bets on the betting ticket are considered no action.
The bettor chooses the order of each bet in the series. The first bet is always placed. Each subsequent bet is placed only if the previous bet is won, considered no action or is a tie game (also know as a push). If any bet in the If Action series loses, then all subsequent bets on the betting ticket are considered no action.
For example, on October 7th, the bettor places an If Win bet on the Raiders to beat the Dolphins in their October 12th game. Then he selects the Patriots to beat the Colts in their October 11th game. The game on October 12th wins and the second part of the If Bet is placed on the Patriots/Colts game with the original bet amount.
This second bet is placed even though this game started prior to the first event and already had a final result of a loss. The first part of his If Win bet is a win but the second part is a loss.
His If Win bet placed on October 7th is placed prior to the start time of both events so he is able to bet on both games while ensuring that his preferred bet on the Raiders game gets placed even if his second choice, the Patriots, lose.
Normally the only way this would be possible would be to expose the bettor to both bets separately. An If Bet puts a restriction on his bet that says if the Raiders lose, do not place a bet on the Patriots/Colts game. This limits his risk to the first bet amount, but provides him with the opportunity to make a second bet with the original stake if his first bet is successful.