Before you start reading, if you are looking for a Draw No Bet Calculator, I have created an Excel one, where all you have to do is punch in the odds and see if it’s worth taking the Draw No Bet Odds and also the gain/loss from taking them.
It’s not a very clean or sophisticated method, but it’s the best I could do: Download here (Downloaded 3932 times)
If you need 1 on 1 explanation please do not hesitate to contact me via the contact form.
1. What is Draw Now Bet?
Draw No Bet is a type of bet, where if the match ends draw, your wager is refunded. If the game however ends with a victory for the team you have placed the Draw No Bet for, you win just like a normal 1X2 selection.
Put visually Chelsea meets Manchester United, The 1X2 odds of the match are as follow (odds provided by bet365):
The Draw No Bet odds for this game are:
Placing a bet of £100 on Chelsea will bring you £180 or a profit of £80:
If the match ends draw however, your win nothing, and you lose nothing. Your £100 wager is refunded to your account.
2. How does it work, and the calculations behind it?
2a. Here’s how the sportsbooks come up with the odds:
- 1. First take your wager £100 and divide it by the odds of the Draw @ 3.40. This gives you the amount of money you have to subtract from your initial bet: £29.41. This amount is the wager that will back the draw outcome, so if a draw occurs, your £100 are refunded (3.40 x 29.41£ = 100£)
- 2. The rest of your wager, will back one of the teams you have chosen. In our example, that would be: Chelsea @ 2.60. This means that £70.59 (100 – 29.41 = 70.59) will be placed on the odds of 2.60 and your winnings will be £183.53
- 3. Now take your calculated winnings £183.53 and divide them by the wager £100, and this is what your TRUE Draw No Bet odds should be: hence £183.53 divided by £100 = 1.8353
If it’s too confusing, our Excel calculator will let you enter the 1X2 Odds, the Draw No Bet Odds given by the sportsbook, and then it will calculate what the real Draw No Bet Odds should be,whether you should take the bet, and how much juice you are going to gain or lose.
Download it below:
2b. Should I take the Draw Now Bet?
Now to avoid confusion, the Draw No Bet offers you just 2 outcomes and all of the calculations are done for you. But here’s where you have to pay attention, notice the Draw No Bet odds for each team: Chelsea @ 1.80 and Manchester United @ 1.90.
I know that if I did the calculations myself and I placed two separate bets on Chelsea to win and a Draw, and Chelsea indeed won, I will have to have £183.53 as winnings. However as you can already see, I will not! The sportsbook has decided to cut me off a little bit, therefore I will receive £180 in winnings and I will lose £3.53, If I choose to use for my convenience the Draw No Bet odds of Chelsea @ 1.80
Ouch I am not happy with that are you? So what do you do in this scenario? You DO NOT take the Draw No Bet odds, you place £29.41 on a draw and £70.51 on Chelsea to win, and you enjoy maximum profit if they do.
But what happens if I was a Manchester United fan? The Draw No Bet odds are 1.90 for them. Since both teams have equal 1×2 odds @ 2.60, the calculations are the same as the above. This time however £100 placed on 1.90 would give you winnings of £190, which is £6.47 more from what you would have gotten if you placed two separate bets on draw and Manchester United to win. So hell yes, you should take the odds!
Always and always do your calculations first, otherwise you might be losing money with the Draw No Bet odds. It’s not hard at all to do that, it’s just simple math and the more you do it the easier it will get.
Look for the value! If Draw No Bet gives you higher profit, use it to get the maximum of your winnings. To find the value, be sure to use high quality large brands like Bet365.
If you are still confused, but want to learn, be sure to drop me a message and I will teach you.
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