In another installment of Online Sportsbook Tips, we are going to look at IF bets and how they can work for your betting action. As with all bet types there is a time and place to use an IF bet, and it particularly comes in handy when you are concerned with bankroll management.
If Bets – For When Times Are Tough
There are a number of things that can go wrong over the course of a football season from a betting and bankroll management perspective. Sometimes the road underdogs crush home favorites, weird weather throws Totals and Over/Unders out the window, or key injuries mean teams just can’t cover the spreads. Whatever the reason, sometimes we limp into December as beat up as the players on our favorite teams. The only thing to do is hit the Demerol, or barring that, start working some IF bets into your wagering repertoire.
So what is an IF bet and why is it perfect for the bankroll blues? An IF bet is similar to a Parlay in that it is also composed of two or more separate wagers. Unlike a Parlay bet however, in an IF bet the subsequent wagers are not placed if the first wager is a loss. It is only if the first wager wins that the next wager is placed- and so on until the IF bet is concluded.
If Bet NFL Week 14 – Dallas and Minnesota
Here is an example of an IF bet from Week 14’s Monday Night and Thursday Night Football. Notice that it is made up of two wagers. In the first leg of the IF bet, you have the Dallas Cowboys to beat the Washington Redskins as +3.5 underdogs. Should that happen, then the second portion of the IF bet kicks in and you are then hoping that the Minnesota Vikings pull off the upset as +7 underdogs.
The Dallas Cowboys +3.5 at the Washington Redskins
* IF Win
The Minnesota Vikings +7 at the Arizona Cardinals
However, should the Cowboys lose the first game then the second part of the IF bet will not get placed i.e. the Minnesota Bet. The second Minnesota wager only gets placed if, hence the name IF bet, the Dallas Cowboys win. To be clear this is not the same as a Parlay as you still get paid your winnings from the Dallas game even if Minnesota loses the second game. In that way they are treated as two separate events.
If Bets – Bankroll Management
So why are IF bets good for a leaner bankroll? Well they are essentially a way to make two bets for the price of one. Whatever amount you wager on the first game is also wagered on the second game, but again only if you win. Let’s say you cashed out all your profits for Christmas shopping to keep your Better Half happy and only have $20 left in your account. Take that $20 and put it on an IF bet and if the first wager is a winner, then the second wager is funded from your winnings. No need to go back into your account and place another wager- the IF bet automatically uses your winnings from the first game to pay for the second game. Convenient and thrifty bankroll management!
Win Only If Bets and Action If bets – Two Kinds of If Bets
Something important to know about IF bets is that there are two kinds, and you will need to choose which type of IF bet you want. The two types of IF bets are called WIN ONLY and ACTION. WIN ONLY IF bets place subsequent wagers only if the first wager is a Win. ACTION IF bets will place the second wager if the first game is a win, Push/tie, or is ruled No Action. ACTION IF bets will not place subsequent wagers only if the first wager is a loss.
A couple of other things are important to keep in mind about IF bets. Take a quick read below and also visit the RealBet Help section on IF bets for all the details. Get to know the IF bet as it is a great way to stretch out your bankroll.
- IF bets can be composed of multiple wagers.
- All portions of the IF bet must have the same wager amount.
- IF bets can not include multiple wagers within the same game or event.
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