If you’re one of those rare sports bettors that actually stick to bankroll management – IF and Reverse Bets might be perfect additions to your betting arsenal. If you happened to read our parlay article, it discusses why they are a bad long-term investment strategy. Despite the warnings and frequent losses, bettors still can't resist them. Why should they? They’re fun, and if you actually hit one – it can lead to a huge payout. What if I told you there was a way to have the best of both worlds? A type of betting strategy that allows you to create multiple bets within one wager and practice correct bankroll management at the same time. Intrigued? Keep reading to learn more.

What Is an IF Bet?

Think of an If Bet as a deconstructed parlay. Instead of a one shot or bust proposition like the parlay, an IF Bet pays out after each successful leg. This type of bet protects the bettor by returning any winnings after each leg back to them and only risking the initial investment again – after each successful win. There are two types of If Bets. Both are basically the same, except for one slight variation.

An IF Win Bet

Let’s say you chose three legs in an IF bet and risked $11 on it. The bet only proceeds if the result is a win. As you win, you will only risk the original amount and not what you have won during the previous legs. It's important to note that if the result of one of the legs is a PUSH, it will stop the bet and the next game in succession will not continue. Here’s how a couple of scenarios would play out.

	Bet	Win/Lose
Risk $11	Broncos +1	Win $10
Risk $11	Patriots -10	Win $10
Risk $11	Jets +3	Win $10
		Return $41

As you can see, you only risk your initial bet after each win. Winning each leg would return $41 on an $11 bet. In this example, every game won, thus triggering the next bets in succession. Now let's see what happens if an IF bet did not result in every leg winning.

	Bet	Win/Lose
Risk $11	Broncos +1	Win $10
Risk $11	Patriots -10	Win $10
Risk $11	Jets +3	Lose -$11
		Return $9

Since the Jets did not cover, the bettor will lose the last wager but keep the previous winnings. While the bettor lost $2, the IF bet protected the bettor from a total loss of their initial investment. As you can tell, the worst-case scenario is losing the first game in an IF bet. Because these types of bets only continue as the bets win, if the first game loses or pushes the rest of the bet is void and will not continue.

An IF Action Bet

The IF Action simply means any result other than a total loss. Unlike the IF Win, an IF Action Bet will continue to the next leg despite a Push. This IF Action variation is more popular with sports bettors because of the low risk associated with the IF bets in the first place.

What is a Reverse Bet?

A reverse bet can be thought of as two IF bets combined into one wager. As we just learned, an IF bet continues in succession until a leg loses. While this low-risk approach is nice, it can be frustrating when one leg loses early and the ones after would have cashed after. This reverse bet allows you to wager two IF bets in the opposite order. Let's take a look at a three-team Reverse bet with the Broncos, Saints, and Giants.

Bet #1 - Broncos +6

• If they win or push, Saints -3 would be bet on.
• And if the Saints win or push, Giants -10 would be bet on.

Bet #2 - Giants -10

• If they win or push, Saints -3 would be bet on.
• If they win or push, Broncos +6 would be bet on

What this does is give the bettor some insurance in case the bet would have been successful in the reverse order. This allows the bettor to recoup some money in a situation where the first leg of an IF bet fails but the others don't.

Is an IF or Reverse Bet Worth It?

“Is it worth it? Let me work it, I put my thang down, flip it and reverse it” Sorry, I couldn’t help it. That song immediately came to mind when writing that title and I have no regrets.

There’s a reason why you might not even have heard of these types of bets before you started reading this article. They don't offer a huge payout like a parlay, and they can be a little confusing. If you're the type of bettor that follows a strict bankroll, this might be a way to live life on the edge while still hoarding your bankroll like Scrooge. If you're the opposite and typically aim for a high-risk/high-reward type wager, I wouldn’t recommend these.

Now that you’re an expert in IF and Reverse bets – visit The Odds Factory for other ways to enhance your sports betting experience, including our TomBox sports betting algorithm. We have no shortage of advice, picks, and trends that will do doubt make you profit.