What 'If'?
9 August 2006
We've all seen them advertised - often along with 'Teasers' and other strange sounding sports bets. But what is an "If Bet"?
The "If" Sports Bet lets a punter (bettor) add power to his bet whilst all the while limiting his risk or downside.
It basically involves placing a lot of bets on the same 'slip' - so to speak. Each succeeding bet is still valid only if the preceeding bet wins or is successful. Effectively your betting risk is limited to the stake paid.
The If bet allows the bettor to continually bet small stakes for a potentially big payout. He can also use them for risk management to compliment
his standard points-spread or other betting.
If Bet rules:
An If Bet slip can contain between two and seven individual wagers.
Bets must be made prior to the commencement of the first event. None of the events on the slip can already be underway.
Bets can be made in any order.
Succeeding bets in the sequence use the bet stake of the first bet.
The first bet is always placed unless it is categorized as a 'no action' event.
Types of If Bets:
If - Win.
The bettor chooses the order of each bet. The first bet is always placed and each following bet is placed only if the prior bet is a winner. If any bet loses, ties or is 'no action', then all following bets on the betting slip are also no action.
If - Action.
The customer chooses the order of each bet in the series. The first bet is always placed and subsequent bets are placed only if the previous bet is a winner, considered 'no action', or is a draw / tie game / push. If any bet in the 'If Action' series comes up a loser, then all bets on the slip become 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.
An If Bet effectively places conditions on a bet i.e. IF team A in game 1 loses, do not place a bet on team Z in the second bet of the sequence. Risk is then limited to the first bet amount, but offers the chance to make a second bet IF his first bet is successful.
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