Draw No Bet is a bet type that removes the draw result from a 3-way betting market.
The market is regularly available on betting markets where the draw is firmly in the market, like soccer matches. If the match results in a draw, all bets are refunded. The bet type is popular as it is a far less risky option than Win Draw Win betting from where the Draw No Bet originates.
Draw No Bet means that if there is a draw in a sporting contest, all bets placed on the draw outcome are refunded without any loss to the players. It is similar to a form of Asian handicap betting whereby if the result is a draw after the handicap is applied, refunds are issued for those bets.
Let’s explain what a Draw No Bet is by looking at an example of a soccer match; we will use the 2018 FA Cup between Chelsea and Manchester United. To get a better understanding, we start with the Win Draw Win odds on the match.
Now let’s take a look at the Draw No Bet market, remembering that it is a far less risky option for punters as if the match ends in a draw at the end of 90 minutes, all bets will be refunded in full:
The odds shorten significantly for both Chelsea and Manchester United, but this is because the number of possible outcomes is now two down from three.
One downfall with Draw No Bet betting is that the odds are generally lower than what they otherwise should be, as the bookmaker takes a higher margin on these bets.
Draw No Bet wagers are often combined with other single bets to form a multi bet. We know that the bet stake is refunded if the match results in a draw, so what happens to the multi bet? Most online bookmakers void the Draw No Bet leg of the multi and withdraw it from the bet. Therefore, a five-leg multi becomes a 4-leg multi, but the bet remains intact.
Draw No Bet is a useful bet type for bettors starting in the world of online betting, as it is a risk-averse alternative to most other types of sports betting. It is available with most of the Australian betting sites on popular soccer matches.