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An if bet is a type of gambling bet that consists of at least two straight bets joined together by an if clause that determines the wager process. If the player’s first selection complies with the condition (clause), then the second selection will have action; if the second selection complies with the condition, then the third selection will have action and so on.
It is close to an "If Win Only Bet". The differences are that you have action on the second bet only if your first bet won, ties or is canceled. In this type of "if bet" you don't have the option to use your potential winnings from the first bet on the second straight bet, because of the tie or cancel possibility. However, you can risk more on your second bet than on your first bet provided you have the balance to cover the wager.
In an If Wager or "Jaibi wager", all risk amounts must be equal or less than the previous selection. In single-action (win only), subsequent selection will only have action if the preceding wager is a win. In double-action (win and push), subsequent bets will have action only if the preceding bet is a win, push, no action, or canceled.
A money-back special is where a bookmaker offers a refund on specific markets if a condition is met during the event being wagered on. These are known as If Bets as if A happens then the customer will receive a refund. An example would be a refund on losing first goalscorer bets if there is a red card in the match.