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Sports Betting 101 - If Bets
An "if bet" is a selection of two straight bets on one betting ticket with an "if" clause. This type of bet allows one to increase their betting power and limit their risk by placing two straight wagers on single ticket where the second bet will only have action if their first bet wins or ties.
An "if bet" will only continue if the first bet made was won or tied, depending on what is specified. The amount on the subsequent bets on an "if bet" can't be more than the one wagered in the first part.
The bets do not have to happen in the same order of time, so that the second bet can occur prior to the first. Also, you do not have to re-invest all of your winnings in subsequent bets. Instead, you select the amount you want to bet in each game. All picks for the "if bet" must be made at the same time.
Example:
New York Knicks +6 -110 (to win $100)
IF
Chicago Bulls -4 -110 (to win $100)
If the Knicks fail to cover, the bet ends there and the bettor loses -$110. If the Knicks win, the wager continues to the bet on the Bulls. If the Bulls win, the bettor wins $200 and is paid $310. If the Bulls lose, the bettor loses $10 and is paid $100.
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