How does a Draw no Bet works?
For who constantly seeks good sports betting solutions, probably have already notice in a specific bet type named Draw no Bet. This betting type is available in several bookmakers, that charges two possible results (draw and win), whereas in case of draw the bet is returned. For instance, if you bet £10 in Manchester win, using a Draw no Bet betting method, in case of draw at the end of the match, the bookmaker will return you £1o. However, in practical terms, the Draw no Bet has many different using models, which we will explain along this tutorial.
What is a Draw no Bet?
As mentioned before, Draw no Bet is a betting method that provides two possible results (draw or win of Team A/B) and in case of draw the betting amount is returned to the bettor. Lets see the following example:
The “normal” odds for the match are 2.25 for Man. United, 3.20 for Chelsea and 3.25 for draw. However, in the Draw no Bet option, you have different odds: 1.61 for Man. United and 2.20 for Chelsea.
If you select the Draw no Bet option and bet £100 on Man. United 1.61 odd, in case of winning, you will receive £161, making a £61 profit. However, if the teams draw, you will receive your £100 back, not getting any profit with your bet. The risk is very low, since in a Draw no Bet scenario your winning chances are about 33% and there is a 66% chance of not losing. You only lose the bet in case of Chelsea win, which represents only a 33% chance.
How does a Draw no Bet works?
Match: Man. United v Chelsea
Odds 1×2: Man. United for 2.25 | Draw for 3.25 | Chelsea for 3.20
Draw no Bet odds: Man. United for 1.61 | Chelsea for 2.20
Your bet: £100
Lets see how does bookmakers calculate the Draw no Bet value:
- First the bookmaker take your £100 and divide the odds values for the draw for 3.25. This allows the bookmaker to know the amount to subtract at the initial bet, which is £30.78. This amount will cover the draw bet, whereby if the match ends with a draw, your £100 will be returned (3.25 x 30.78 = 100)
- The money remaining (100 – 30.78 = £69.22) will cover one of the other two possible results, depending on the team you choose to bet on. In our examples, it would be the Man. United win for 2.25. This means that the £69.22 will be placed in odds for 2.25 and the profit will be £155.75
- With the £155.75 profit and dividing it by your bet value (£100), we will find the bookmaker’s Draw no Bet value , meaning, 1.5575. In this case, the bookmaker is giving us a 0.0525 odd over the previous calculated value, which means if we bet on draw and on the win separately, we would make less money.
If we bet £30.78 on the draw for 3.25 and also £69.22 on the Man. United win for 2.25, the profit would be (£30.78 x 3.25) + (£69.22 x 2.25) = £100 + £155.75. If the Man. United wins the match, you will get only a £55.75 profit, since your bet on draw was lost.
However, if we bet £100 on the Draw no Bet for the Man. United for 1.61, you would gain £161, meaning over £5.25 than betting separately. Thus because the bookmaker incorrectly calculated the Draw no Bet value or simply because it wanted to pay a bit more for this specific bet.
In fact, there are many different cases where the Draw no Bet doesn’t payback, because the bookmaker is paying a lower value compared to the one for betting separately. For this reason, you should always make your calculations in order to understand if it is really worth to bet on a Draw no Bet. Sometimes, it may be better to bet on separately!
Enjoy your bets!