Ever found asking yourself what draw no bet meaning is? This brief guide eliminates these unnecessary questions; ensuring you place your next wagers with a full understanding of these bet types.
What Does Draw No Bet Mean In Betting?
The term “ Draw No Bet” refers to a specific type of betting market. This is when a draw or tie between two teams in sporting event results in a no bet. This, in turn, results in a voided bet, and the punter gets back their bet amount refunded in full.
On your betting glossary, a draw no bet is perhaps one of the most popular yet unusual bets. A draw no bet market is a popular type of bet among punters. It serves as a safer alternative to betting on a single team outright.
With a regular betting market, a tie with no win from either team will result in you losing the bet. This is whether you wagered on team A or B winning. Unlike the win-draw-win markets, a draw no bet eliminates the risk of losing your stake if the game ends without a clear winner.
Draw No Bet Bet Examples
If you still struggle to understand the draw no bet meaning, vivid examples can help you better understand. The draw no bet can be used in several sporting activities, for example, football or hockey. Here are some practical examples of how Draw No Bet works;
- Example 1: In a soccer match between Yanga SC and Simba SC, you wager a Draw No Bet on Yanga SC. This means if Yanga SC is victorious, you win the bet. However, were the game to end in a stalemate, your stake will be refunded. If Simba SC wins, you obviously, lose the bet.
- Example 2: In a hockey game where the Chicago Blackhawks and Boston Bruins are playing, you place a bet on the Boston Bruins. The placement of bets where the Boston Bruins wins means winning the bet. In the event of a tie at the end of regular play, the bet becomes void. This means the punter receives a full bet reimbursement. However, when the Chicago Blackhawks win, the punter loses their bet.
These examples highlight the point that Draws No Bet is fundamental in protecting the interests of the bettors. This is particularly against losing their entire bet in the occurrence of a match draw.
Draw No Bet and Double Chance
Both Draw No Bet and Double Chance are popular betting markets aimed at reducing risk, but the draw no bet meaning is totally different from the double chance meaning. Both bets can serve as great options for a bet strategy. While draw no bet offers a refund if the match ends in a draw, double chance lets you win if the wagered team wins or draws. Here is how each bet type works:
- Draw No Bet: If you place a draw no bet wager, you receive a refund in full if the match ends in a draw. You will only lose your bet if the opposing team wins and win your bet if the team you wagered on wins the match.
- Double Chance: With the double chance bet, you are betting on two possible outcomes of a match. For example, you bet on Team A to win a match or end in a draw with the opposing team. Therefore, if either of these two possible outcomes happens, you win your wager. Unlike draw no bet, you still win on your wager on a draw rather than being refunded your wager. The only time you lose your bet is if Team B wins. This bet market doesn’t include refunding your wager for any outcome.
Key Differences
Evidently, double chance and draw no bet meaning and function are distinctive from one another. Here are the two main distinctions between draw no bet and double chance:
- Risk and Payout: It’s hard to lose with Double Chance as it encompasses two results, however, the decimal odds are most times not as high as in Draw No Bet which voids the wager in case a draw occurs.
- Bet Refund: In the case of a draw in Draw No Bet one is refunded while in Double Chance a draw would be a winning circumstance.
Draw No Bet Betting Review
Draw no bet type comes with its perks. However, as with other options in betting, it also has its drawbacks. Let’s dive into the pros and cons of betting with Draw No Bet:
Pros of Draw No Bet
Here are the pros of a draw no bet market:
- Reduced Risk: A draw no bet can serve as your insurance policy. The key benefit of this bet type is the risk area. A draw leads to the stake being returned, which decreases the risk of losing money to a standard 1X2 bet or backing one team to win.
- Good for Unpredictable Matches: This betting market is most appropriate in situations where a draw is a superb possibility but one side has some advantage. It enables you to guard your stake in unpredictable events.
- Higher Odds Than Double Chance: Double Chance brings in more security by covering two results but, often Draw No Bet provides greater decimal odds which makes it convenient for those gamblers who seek more returns.
- Ideal for Sports with Frequent Draws: In such sports, there are more chances for draws, hence, Draw No Bet allows backing a side without fully exposing the stake.
Cons of Draw No Bet
Here are the drawbacks of a draw no bet market:
- Doesn’t Cover All Outcomes: Draw no bet doesn’t cover all outcomes. So, while you win if the team you wager on wins and get a refund in the case of a draw, you will still lose your bet money if the team you wager on loses the match.
- Less Attractive for One-Sided Games: When there is little chance of the match ending in a draw, or if one side is so superior to the other, Draw No Bet might not add any value as the regular win markets would have better and higher odds. In this case, it is impossible to rely on draw no bet predictions.
- Lower Odds Than Straight Bets: While safer than regular bets, bet odds for ‘Draw No Bet’ are inferior to that of regular bets where you wager directly on a team to win. Potential profit becomes less because of risk protection awarded.
Where to place ‘Draw No Bet’ Bets
Draw No Bet Meaning FAQ
If you still have unanswered questions about the Draw No Bet topic, check out these frequently asked questions:
In football betting, Draw No Bet means that you have placed a wager on either of the two teams and if the match ends in a stalemate, your money is returned to you. A regular bet strategy, it is commonplace in football due to the high frequency of draws in matches; making it an excellent insurance policy for bettors.
In hockey, the term Draw No Bet serves a similar concept as in other sports. You’re wagering for one team to emerge victorious within the normal playing time; if the match still ends in a draw when the normal time expires, you receive a full bet refund.
Draw No Bet meaning in Betway is the same for Betway. It is among the betting markets offered on different sports within the Betway Tanzania platform. The draw no bet market in Betway allows you to predict in favor of a team to win. However, you get your stake back if the match ends in a draw.
Yes. Most bookmakers allow the cash-out option for punters who have placed draw no bets. This enables you to make a partial return before the end of the match if, in the late stages, you have doubts about the final result. Nevertheless, the option to cash out is dependent on the game and the bookmakers’ policies.