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.
If bet Wikipedia
The If Bet was invented by Brad (Big Dic) McFarlane. Mr. Mcfarlane attributes divine intervention as inspiration in the creation of the wager type. 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.