Draw No Bet wagers are increasingly popular and are offered by just about all bookies.
So what is a Draw No Bet wager?
In a nutshell, the punter bets on an event such as a football match, betting on one of the teams involved to win. Should the match end in a draw, the punter receives his/her stake back so makes neither a profit nor a loss.
An example of this type of bet in action:
Man City are playing Liverpool. Our punter fancies Liverpool to win at odds of 2.0
He places £10 on Liverpool to win Draw no Bet.
If the match finishes in a draw our punter gets his £10 stake back.
If the match finishes in a Liverpool win he wins £20.
If the Match finished in a Man City win he receives nothing – he lost the bet.
If your chosen bookie is not offering the Draw No Bet option you can still place a bet that covers the draw.
This option involves some simple maths – so no you can’t say that the algebra you learnt at school has never come in useful since!
Let’s say we want to bet £50 on a football match ( or any sporting event where two teams are competing and a draw is possible).
We back Everton to win and their odds are 2.60.
The odds for the draw are 3.60.
To calculate the stake for the draw bet we must divide the amount we want to bet by the draw odds; so in our example £50 is divided by 3.60 so £13.89 to be put on the draw.
Take £13.89 from the £50.00 which leaves £36.11 to be put on the Everton win bet.
(We have not bet anything on Everton’s opponents to win.)
There are three possible outcomes in this scenario. The match is a draw, Everton win, Everton lose.
The match is a draw. We get back £36.11 which is £13.89 x (3.60 – 1) we lose £36.11 on the win bet so we break even.
Everton wins. We get back £57.78 which is £36.11 x (2.60 – 1) – we lose £13.89 on the draw bet so we we make £43.99 profit… effectively we backed Everton at odds of 1.88 (£43.99 / £50.00) + 1 We also had the insurance of the covering the draw with our bet.
Everton lose … we lose £13.89 on the draw bet and we also lose £36.11 on the Everton to win bet … a total loss of £50.00. Well we didn’t bet on that outcome.