Definition
An if-bet is a conditional bet sequence: the next wager is placed only if the prior wager wins. It is not a parlay because each leg is graded as its own straight bet, and the bettor’s return depends on which legs become active.
For American odds, profit on a negative price is:
profit = stake * 100 / |odds|
At -110, a $110 stake wins $100.
Worked Example
A bettor makes a two-leg if-bet:
Leg 1: $110 on Team A -110
Leg 2: $110 on Team B -110, only if Leg 1 wins
If Team A loses, Leg 2 never fires. Net result: -$110.
If Team A wins and Team B loses, Leg 1 wins $100, then Leg 2 loses $110. Net result: -$10.
If both legs win, each $110 bet wins $100. Net result: +$200.
Why It Matters
An if-bet helps control exposure by requiring the first opinion to win before adding the next stake. It fits situations where a bettor wants sequential action without tying every leg into a parlay payout.