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Draw no bet is a type of bet generally placed on football matches in preference to other types of sporting event. In the case of most matches, a bettor will choose one team to back as the winner and either a draw or the other team winning will result in the bet being lost. A draw no bet, on the other hand, means that the bet will pay-out if the team backed is victorious, but in the event of a draw the full stake will be refunded.
In many football matches one team, Team A, will be offered by the bookmakers as the obvious favourite. This means that a bet on Team A is likely to win, at fairly poor odds, but that the other two options, Team B winning or holding on for a draw, will mean the stake is lost completely. When the bet is placed as a draw no bet, on the other hand, a drawn result will mean the stake is returned to the bettor.
While the number of matches which end in a draw make draw no bet attractive, the downsides include the fact that some bookmakers may not offer it as an option and that, if they do, it will result in lower odds being offered.
Draw no bet is also useful when placing a football accumulator, in which all bets have to win for the bet as a whole to be successful. If one team doesn’t win, then the bet will fail, while making some of the selections draw no bet will see the match in question being declared void in the event of a draw and the stake being carried forward to the remaining matches as a smaller accumulator.