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Win Only If Bet
In Brief: A Win Only If Bet allows bettors to wager on multiple matchups in a sequence of the bettor’s choosing. The bettor passes to the next wager in their sequence by winning the previous wager, and can bet no more than the total dollar amount of winnings won on the prior wager on the next wager.
Wow, Win Only If Bets sound a bit confusing, to say the least. In reality, it’s important to understand this wager, because it is less risky than an outright parlay on multiple matchups. Win Only If Bets allow bettors to wager on several different matchups at a time, "passing" to the next wager in their sequence if and only if the preceding wager wins. If successful, the stake amount on the subsequent wager can total no more than the dollar amount of winnings from the previous wager. If the bettor fails to win any wager, the bet is over; however the bettor is allowed to keep any winnings accrued up until the failing wager.
Let’s examine the If Bet in a series of examples, broken down piece by piece.
A bettor wants to make a Win Only If Bet on the following games, choosing the Patriots, Colts, and Bears as winners:
Matchup 1. Patriots -120 vs. Jets
Matchup 2. Colts -120 vs. Cowboys
Matchup 3. Bears -120 vs. Seahawks
In each matchup, the bettor’s teams are favored to win -120, which means for every $120 wagered, the bettor will collect $100 if successful.
Case 1: Bettor makes a successful 3 matchup Win Only If Bet
Part 1: A bet of $120 is placed on the Patriots in the first matchup, -120 to win $100. If the player is successful, he or she can reclaim their wager ($120) plus their winnings: $120 + $100 = $220 total. In this case, the bettor wins, collecting the $220.
Part 2: Next, the bettor can wager on the Colts favored to win at -120, because his or her Patriots bet won. He can bet no more than the total winnings from the Patriots bet on this contest. Since the bettor collected $220 from the first bet, he now decides to bet $200 on the Colts. If the player is successful, he or she can reclaim their wager ($200) plus their winnings: $200 + $140 = $340 total. In this case, the bettor wins on the Colts, collecting $340.
Part 3: The two prior winning bets lead the bettor to his or her third and final wager, picking the Bears -120 to beat the Seahawks.
He can bet no more than the total winnings from Colts bet on this contest. Since the bettor collected $340 from the second (previous) wager, he now decides to bet $300 on the Bears. If the player is successful, he or she can reclaim their wager ($300) plus their winnings: $300 + $160 = $460 total. In this case, the bettor wins on the Bears, collecting $460.
Part 4: The bet is now finished. The bettor now calculates his winnings + wagers: $220 (from Wager 1) + $340 (from Wager 2) + $560 (from Wager 3) = $1120 total winnings and wagers combined. Not a bad payoff, eh?
Case 2: Bettor is only successful with 2 matchups of a 3 matchup Win Only If Bet
Part 1: A bet of $120 is placed on the Patriots in the first matchup, -120 to win $100. If the player is successful, he or she can reclaim their wager ($120) plus their winnings: $120 + $100 = $220 total. In this case, the bettor wins, collecting the $220.
Part 2: Next, the bettor can wager on the Colts favored to win at -120, because his or her Patriots bet won. He can bet no more than the total winnings from the Patriots bet on this contest. Since the bettor collected $220 from the first bet, he now decides to bet $200 on the Colts. If the player is successful, he or she can reclaim their wager ($200) plus their winnings: $200 + $140 = $340 total. In this case, the bettor wins on the Colts, collecting $340.
Part 3: The two prior winning bets lead the bettor to his or her third and final wager, picking the Bears -120 to beat the Seahawks. He can bet no more than the total winnings from Colts bet on this contest. Since the bettor collected $340 from the second (previous) wager, he now decides to bet $300 on the Bears, keeping the $40 in leftover winnings from Wager 2. If the player is successful, he or she can reclaim their wager ($300) plus their winnings: $300 + $160 = $460 total. In this case, the bettor LOSES on the Bears.
Part 4: The final wager FAILS. This means the bet is finished, and no winngins are collected on the final bet. The bettor now calculates his winnings + wagers: $220 (from Wager 1) + $340 (from Wager 2) – $300 (Unsuccessful Wager 3) = $260 total winnings and wagers combined.
Case 3: Bettor is only successful with 1 matchup of a 3 matchup Win Only If Bet
Part 1: A bet of $120 is placed on the Patriots in the first matchup, -120 to win $100. If the player is successful, he or she can reclaim their wager ($120) plus their winnings: $120 + $100 = $220 total. In this case, the bettor wins, collecting the $220.
Part 2: Next, the bettor can wager on the Colts favored to win at -120, because his or her Patriots bet won. He can bet no more than the total winnings from the Patriots bet on this contest. Since the bettor collected $220 from the first bet, he now decides to bet $200 on the Colts, keeping $20 in leftover winngins from Wager 1. If the player is successful, he or she can reclaim their wager ($200) plus their winnings: $200 + $140 = $340 total. In this case, the bettor LOSES on the Colts.
Part 3: The second wager FAILS. This means the bet is finished, and no winnings are collected from the second wager. Further, the bettor CAN NOT proceed to the third bet. The bettor now calculates his winnings + wagers: $220 (from Wager 1) – $200 (Unsuccessful Wager 2 ) = $20 total winnings and wagers combined.
Important Notes:
1. Win Only If Bets can have more than 3 matchups. We just used 3 as an example above.
2. You choose to take the underdog if you want in any of your wagers. We just took the favorites in the example above for simplicity.
3. Some sportsbooks allow different types of wagers to combined in one Win Only If Bet, ie. Money line and/or Spread Betting.
If you feel comfortable with the concept of a Win Only If Bet, we encourage you to try one at your sportsbook: they are much less risky than a parlay, and can still produce solid winnings if successful. The best part of the If Bet is that if any wager fails along the Win Only If Bet sequence, you still get to keep winnings accumulated from prior wagers. Essentially, the real risk is determined by how much you bet on the first wager, and then of course the odds on each respective matchup and successive bets placed.
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