Draw no bet meaning: Explaining this common betting market

Bookmakers nowadays do an excellent job in providing their betting markets, ensuring that punters have ample choices to place their bets on anything and in any way they desire. In this article, we will delve into another tool crafted to convenience bettors – the Draw No Bet option, a widely popular betting market utilized by sports bettors in the three-way market. But what does draw no bet meaning, how to use it, and are there any alternatives? Premiumsoccertips.net has all the answers right here.

What is Draw No Bet?

What is draw no bet meaning? Draw No Bet (or DNB) is a betting market primarily aimed at eliminating the possibility of a draw in the three-way betting market.

In other words, DNB is a wager that bettors can place on any sporting event with three possible outcomes – Team A wins, a draw, or Team B wins. By using this type of bet, the match they wager on now only has two outcomes – Team A wins or Team B wins.

So, instead of betting on one of the following:

Team A to win.
Draw.
Team B to win.

The DNB betting market will only have two choices:

Team A DNB.
Team B DNB.

The main idea behind Draw No Bet is that if the match ends in a draw, you will not lose your stake as you would with a 1×2 bet. Instead, your bet is settled as a push, and your initial stake will be refunded.

The main advantage of Draw no Bet is that it provides bettors who dislike risk with an alternative way to bet on their favorite games. It must be acknowledged that DNB is not the optimal solution to avoid losing bets in a draw, but it does reduce volatility, which can be a positive thing.

This may sound confusing to those unfamiliar with how betting markets operate, so let’s consider an example of a football match in the Premier League.

Draw No Bet in Action

To better understand how Draw No Bet works, it’s best to look at an example to see how it differs from the 1×2 betting market. As we’ve established, 1×2 is the “traditional betting market” where you bet on three possible outcomes. They’re described in the market’s name (1×2):

1 – Team A wins.
x – Draw.
2 – Team B wins.

With Draw No Bet, the possibility of a draw is eliminated, leaving us with only two options – either you back Team A to win or Team B to win. Let’s say we want to bet on a match between Chelsea and Everton. The bookmaker provides the following odds in the 1×2 market:

Everton: 1.53.
Draw: 4.50.
Chelsea: 5.25.

If you bet on either team to win and the match ends in a draw, your bet is considered lost. However, if you bet on either team with DNB, the outcome is significantly different.

Because DNB removes the possibility of a draw, any match ending in a draw will be settled as a draw, meaning you’ll get your stake back. In other words, when betting with DNB, you can’t lose money in a draw.

Because Draw No Bet removes one of the possible outcomes from the equation, the odds offered for Team A in the 1×2 betting market and the DNB market will not be the same. You’ll notice that the odds in the DNB market are always lower.

When to Use Draw No Bet

As noted, the DNB market typically offers worse odds than the 1×2 market, which makes sense because eliminating the draw significantly reduces variance and puts you in a situation where you can only lose money in one scenario.

However, sometimes it’s wiser to avoid using Draw No Bet and instead place two separate bets for the team you want to bet on and the draw – essentially making your own DNB bet.

From the example above, when Liverpool is priced at 1.53 to beat Chelsea in the 1×2 betting market, bookmakers offer 1.15 for Liverpool DNB and 3.80 for Chelsea DNB. To determine whether this is a reasonable proposition, we can calculate the actual DNB odds using the formula:

Team A DNB odds = (1 – (draw odds 1/1×2)) * Team A 1×2 odds

For Liverpool:

Liverpool DNB odds = 1(1/4.50) * 1.53 = 1.34

In this case, the DNB market is lower by exactly 0.09 than the accurate odds; therefore, it would be more sensible not to use DNB and instead place separate bets for Liverpool and the draw (in the 1×2 betting market). To do so, you need a formula to calculate the amount to wager.

Wager for a draw = (total wager amount / draw odds).
Wager for Team A = (total wager amount – draw wager amount).

Suppose you want to bet €100 on the match, your wager amounts would be as follows:

Wager for a draw = (100/4.50) = €22.2.
Liverpool stake = (€100 – €22.2) = €77.8.

By placing €22.2 on a draw and €77.8 on Liverpool (in the 1×2 betting market), you’d create a similar position to when you bet DNB on Liverpool. However, you’d receive more money because the DNB odds offered are lower than necessary.

Draw No Bet is a highly effective tool for sports bettors, especially those seeking a convenient way to remove uncertainty from their betting activity. However, as we’ve seen, the DNB betting market may have slightly worse odds than what you’d get with separate bets.

That doesn’t mean Draw No Bet is a bad choice, and it won’t always have worse odds than two separate bets in the 1×2 betting market. Ultimately, the DNB market offers a convenient way to bet with lower risk without delving too deeply into the associated mathematics.

Which sports can end in a draw but aren’t available for betting?

Soccer.
Baseball.
Australian Rules Football.
Chess.
Boxing.
Ice Hockey.
Horse Racing.
Motorsports.
Basketball.
American Football.

There are several sports where you can use Draw No Bet. As you can see from the examples above, soccer is the main sport where it can be used. The fact that there are three possible final outcomes allows for this.

A similar situation also occurs in many other sports. We just need to bet on a sport that can end in a draw. This criteria rules out a tennis match where a draw cannot happen. However, it’s a typical case in many American sports such as basketball, ice hockey, and American football.

You should remember that betting applies to the end of regular play unless otherwise stated by the bookmaker. Draws aren’t very common in American football, but they do sometimes occur. You can place a draw no bet for this sport. The same applies to boxing, cricket, and baseball when a draw is possible. Always check with the bookmaker to see if Draw No Bet is available as it can help you make a profit.

Conclude

In conclusion, Draw No Bet (DNB) presents a valuable tool for sports bettors seeking to mitigate risk and navigate uncertain outcomes, particularly in sports where draws are possible. While DNB may offer slightly lower odds compared to separate bets in the 1×2 market, its convenience and risk-reducing features make it a popular choice among bettors. It’s essential to understand the dynamics of each sport and its betting markets to effectively utilize DNB and maximize potential profits. Moreover, always check with the bookmaker to ensure DNB is available for the desired sport or event. Ultimately, Draw No Bet serves as a strategic option for bettors looking to engage in sports betting with lower risk and greater control over their wagers.