What Is Draw No Bet
What is the definition of the term 'draw no bet'? If you are betting on sports, selecting the 'draw no bet' option means that you will have your money returned if the game that you are betting on ends in a draw. For instance, let's say that the odds for a game look like this: Bayern Munich, 1.85 Draw.
Draw No Bet….What does it mean?
- Patrick van Aanholt was subjected to disgusting racist abuse after Man Utd draw. The perpetrator branded Van Aanholt a 'monkey' after an unsuccessful bet. No one, or no one comment, is going.
- A draw no bet can be considered as a type of insurance when you wager on a match outcome. The way it works, is that if a match ends in a draw, you then receive a full refund of your initial stake. If the selection wins, you get the full payout of the winning odds.
Draw No bet is commonly used when betting on sports team matches, and means that punters will get their stake back if the game is a draw. Draw No Bet is not so much a type of bet as a betting strategy. This betting strategy has been adopted mostly by Football punters but can be used anywhere where we have three possible outcomes in a betting event, Rugby for example.
The strategy is to place two win bets on the outcome of a betting event. The first bet is a simple win bet on the team that we believe will Win, and the second bet is also a win bet this time on the Draw. The difference between the two bets is that we stake just enough on the Draw bet to recover the stake on the Win bet if the match ends in a Draw (this is also known as a “Cover” bet).
This type of bet can be used to great effect for example where a team plays away, scores a goal and then plays defensively for the rest of the game.
When a team scores a single goal and then plays defensively there is always a chance of an equaliser. The Draw No Bet strategy really comes into its own during games like these.
Many bookmakers are now offering the Draw No Bet as a betting option where our stake money is returned should the match result in a draw. At first glance this seems like the perfect solution, no complicated maths to work out the stakes.
However, the bookmakers will have built in their over-round of 5{70aeb3532cb26dbe277d25ea128ebb74de84b9bd22e1583b0eb1b73768e061f6} or more into the odds they offer.
We personally prefer to bite the bullet and with some simple maths calculate the stakes and place the bets on Betfair where the odds are without doubt much fairer.
Examples
If Chelsea and Manchester United are playing a match and the score is 1–1, punters who chose “draw no bet” get their money back. If the score finishes 1-2 and they didn’t predict this score or choose the correct winner, they lose their stake.
In simple words, it’s a bet where the draw returns your stake. If the match you have bet ends in a draw, all your money will be returned to you. No profit, no loss.
But let’s look at an example to understand better:
Let’s say that Real Madrid is playing against Barcelona, and you think that Barcelona should win. However you feel that this will be a difficult task, so a draw is possible. You can bet on Barcelona for a Draw No Bet.
If Barcelona win the game, your bet is a winning one. If the game result is a draw, you’re getting back the money you’ve placed for this bet. In case that Real Madrid won the match, you lose your bet.
Draw No Bet – The Traditional Strategy
Let’s say we want to bet £50 on a football game. The odds for the team we want to win are 2.60 and the odds for the draw are 3.60. To calculate the stake for the draw bet we simply divide the amount we want to bet by the draw odds; so in our example £50 divided by 3.60 is £13.89 to be put on the draw.
Take £13.89 from the £50.00 which leaves £36.11 to be put on the win bet (in this example we are betting with the bookies so we do not need to take commission into account).
Let’s see what happens for the various outcomes …
The match is a draw … we get back £36.11 … £13.89 x (3.60 – 1) – but lose £36.11 on the win bet … we break even.
Our team wins … we get back £57.78 … £36.11 x (2.60 – 1) – but lose £13.89 on the draw bet … we make £43.89 profit… effectively we backed our team at odds of 1.88 (£43.89 / £50.00 + 1) AND we had the insurance of the “Cover”bet on the draw.
The other team wins … we lose £13.89 on the draw bet and we also lose £36.11 on the win bet … a total loss of £50.00.
These returns will drop slightly if using Betfair due to commission, however, this should be offset by the higher odds we can normally achieve.
Draw No Bet – An alternative Strategy
A point worth mentioning is that the draw (“Cover“) bet needn’t be in the same event, it needn’t even be in the same sport. We could bet on our favourite football team for our main bet and have our draw (“Cover“) bet on Andy Murray in the Tennis.
In fact doing it this way means that both bets could win! This cannot be achieved with the traditional Draw No Bet as we are always guaranteed to lose at least one of our stakes.
Let us see what happens now using a fictional Draw bet in another match from the one where our main Win bet is. We shall use the same stakes and odds as in the previous example.
The match in the second event is a draw … we get back £36.11 … £13.89 x (3.60 – 1)
AND …
Our team wins in the main event … we get back £57.78 … £36.11 x (2.60 – 1) – and keep the money we won on the second draw bet (£36.11) … we now make a whopping £93.89 profit… effectively we backed our team this time at odds of 2.88 (£93.89 / £50.00 + 1).
This version of Draw No Bet is definitely one to consider.
Alternatives
If you want to play Draw No Bet and your bookmaker is not offering that type of bet, you can bet with an alternative way, which is exactly the same:
1. Covering the draw: Play the amount you want on ace or double and an extra bet on the draw of the same amount divided by the odds of the draw.
Example:
Available amount: 25EUR
Match Odds: 1 (8.00) X (4.00) 2 (1.30)
Your estimated prediction: 1X
Divide your amount (25EUR) with the odds of the draw (4.00)(25:4.00=6,25EUR)
So, you should bet 6,25EUR on X, and the rest (18,75EUR) on 1.
In case of draw, you’re getting back all of your money (25EUR), exactly as would happen with Draw No Bet. If the result is 1, you’ll get 18,75×8.00=150EUR.
2. Asian Handicap 0: Another alternative way to place a dnb bet if it’s not available from your bookie, is by selecting an Asian Handicap (AH 0) bet οn the team you think has the best chances to win.
Draw No Bet Odds
Admittedly, the odds that bookmakers offer on Draw no bet kind of bets are slightly lower, but this is reasonable. Odds are calculated in a mathematically way that allow bookmakers to hold some profit from the money you bet on X for cover.
In a match with odds 2.40 – 4.00 – 2.40, dnb odds would be like 1.80 – Stake returned – 1.80.
Bookmakers that offer Draw no Bet more often are Bet365, Betfair and Betfred.
Below you can see a comparison of the odds provided by these bookmakers on a particular football match.
Conclusion
Draw no bet is a good way for punters to protect themselves, especially for those who have patience and want a safer kind of bet. Many matches ending in a draw, aren’t they?
PROS
- Many sporting events end up being a draw and this is a way for punters to protect themselves.
CONS
- Draw no bet is not always available as an option on all or some bets.
- The odds are slightly lower when draw no bet is selected.
This version of Draw No Bet is definitely one to consider.
Draw No Bet is an excellent weapon to have in our arsenal of bets!
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What Is Draw No Bet In Betking
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