One bet you will probably run into at online sportsbooks, or at least the best online casinos and sportsbooks, is the “If” Bet. Consisting of two straight wagers joined by an “if” clause, the “If” Bet is a great way to increase one’s bet while keeping the risk down to a minimum. In essence, the way an if bet works is that two straight bets are made. If the first bet wins, then the second bet is put into action – and can even use the earnings from the first bet to go towards the second bet. For bettors who are down to the end of their bankroll and can only afford to make a single wager, the if bet is a great way to get two bets for one.
Most casinos offer two kinds of “If” bets: the “If Win Only” and the “Action” bet. The “If Win Only” means that the first bet must win in order for the second bet to go into action. If the first wager loses, the players loses their stake and the second bet is cancelled. If the first bet is pushed or cancelled, all money is returned to the player and the second bet is cancelled. The “Action” bet works in a similar manner except that only a loss on the first bet will keep the second bet from being placed. All pushes or cancelled bets will still keep the second bet in action.
In order to understand how one’s risk is minimized by placing “If” bets in an online casino sportsbook, review the following example. Let’s say that your first bet wins $200 on a $220 wager. If your second bet is for the same amount and wins as well, you will have won a total of $400 while risking $220. If your second bet loses, then you will have lost $220. In this scenario, you only lose $20 for risking $220, considering that your winnings from the previous bet were used to make the bulk of the second wager. The only time your risk is like any other bet is when an “If Win Only” bet is made and the first bet loses. If an “Action” if bet is made, and the first bet loses, you can make up your loss on the second bet, but only if you have adequate funds to put up the second bet. For gamblers who only have enough to make a single bet, the “If Win Only” bet is your best choice.
There are some rules to keep in mind while placing “If” bets – the biggest of which is that they can only be made on hockey, football, baseball and basketball games. As the structure of the bet permits, only two bets can be made on a single “If” bet, and that teasers, circled games and parlays are not generally allowed to be wagered on with an “If” bet. Also, the second wager must be for the same stake size that the first wager was made.