i'll give it a shot, although i'm not an expert even though i've been gambling for about 20 years (still learning).
i've never made an "IF BET". i either like the game or i don't and i bet accordingly.
advantage?: short money in your acct and your favorite bet is a late game.....bet the late game and "IF" it to an early game you don't like as much. that way, the early game is only a good bet if the late game (your favorite bet) wins.
raymond uses "IF" bets to roll over to a parlay. that way, IF his favorite game WINS, it automatically rolls over to the parlay without the risk of losing both bets.
i guess there's all kinds of possiblilities but i don't fool with it.
hope this helps.
Jack