Win Draw Win Bet Explained
Draw No Bet is a bet type that removes the draw result from a 3-way betting market. The market is regularly available on betting markets where the draw is firmly in the market, like soccer matches. If the match results in a draw, all bets are refunded.
A Win Draw Win bet is a wager placed on a match that has three possible outcomes. Typically, the bet type is available for betting on soccer matches, where the draw is a likely outcome due to the low scoring nature of the sport. Win Draw Win bets are also known as three-way bets and 1 x 2 bets, and they generally only apply to the full-time result of a soccer match, ie. Introduction Paddy Power occasionally offer money back on losing bets in certain markets if a specific team wins the game. For example if you bet on the correct score in an England game and lose your bet, but England go on to win, you'd receive a refund of up to £10 as a free bet. If 1 loses, you lose all your stake since there are no returns for getting part of this bet correct. For example, you bet £1 on Leeds to win at 1/1, Middlesbrough to win at 8/5 and Charlton to win at 6/5. If all three win, you'll get £1 on Leeds = £2, this £2 on Charlton. The Draw No Bet betting market removes the outcome of a draw in three-way markets. That means that it is only available for games that can end in a draw. If you pick the home team to win and the game ends in a draw the bookmaker is going to refund your stake. If the home team wins, you will receive your initial stake multiplied be betting odds.
NHL regulation time betting has recently become a very popular option for hockey bettors, especially for anyone looking to get better odds on a favourite or not wanting to have their bet settled in overtime or a shootout.
In case you aren’t familiar with NHL regulation time betting, it’s when you bet on what happens in the first 3 periods of the gameonly. What happens in OT or a shootout is irrelevant.
In NHL regulation time betting, most sportsbooks offer 3 main options:
- 2 way Moneyline
- 3 way Moneyline
- Puck Line
On the 2-way Moneyline, you can either take the visiting team to win or the home team to win. If the score is tied at the end of regulation time, your bet will push (cancelled) and your money will be refunded.
When betting the 3-way Moneyline, in addition to the visiting team to win or home team to win, you can also choose Draw (tie). If the score is tied at the end of regulation time, the game will be graded as a Draw. Any bets on the visiting team or home team will lose.
For puck line betting, the favourite is assessed a -0.5 handicap and the underdog will get a +0.5 handicap. If the game is tied at the end of regulation time, the underdog will have covered the spread because +0.5 is added to their score – similar to point spreads in basketball or football.
Sportsbooks generally do not offer Over/Under (where you bet on the number of goals scored) in regulation time betting.
Now that we’ve quickly gone over your options when doing regulation time betting in hockey, here are 3 key things you need to know about NHL regulation time betting.
1. NHL regulation time betting can drastically affect your payout.
Here is how the three main types of NHL regulation time betting odds compare to if you bet the full game:
2 way NHL betting odds
Regulation time betting odds will be fairly similar to the full-game odds. However, the bigger the favourite is on the full-game odds, the bigger the difference will be on the regulation time odds. That’s because a big favourite is a bit less likely to win a game that goes to OT or a shootout (which are both generally considered 50/50 propositions) than it is to win a game that is decided in the first 60 minutes.
3 way NHL betting odds
Payouts for both the favourite and underdog will be quite a bit higher than the full-time odds because of the possibility both will lose if the game is tied after regulation (Draw). The underdog odds will increase much more than the favourite because of the increased unlikelihood that the underdog wins in regulation.
Puck line odds
The favourite’s payout will be quite a bit higher because of the requirement of winning in regulation time, similar to the three way moneyline bet. However, payout on an underdog will decrease significantly because the underdog has 2 ways to cover the +0.5 puck line: winning the game in regulation OR being tied after regulation (similar to double chance in soccer).
2. NHL regulation time betting can drastically affect your chances of winning.
It might not sound like that big of a difference, but taking a team to win in regulation time severely decreases your chances of winning your bet.
Over a 5-year span from the start of the 2011-12 season to the end of the 2015-16 campaign, there was a total of 4,290 regular-season games played in the NHL. Of those 4,290 games, 1,350 of them were decided in OT or a shootout.
That’s awhopping 23.9% of games that were tied after regulation time – which would cause you to lose your 3 way money line bet (unless you took the draw, of course) and if you took the favourite -0.5 on the puck line.
So what are fair odds on a regulation time bet?
How to determine what odds should be on a regulation time bet
Obviously, the odds will vary on every game so there’s no hard and fast way to tell whether you’re getting fair value on your regulation time bet.
But here’s a little math you can use as a rule of thumb in a 3 way moneyline or a regulation puck line bet.
- In a game between 2 evenly-matched teams, the true odds on each team should be +100 (even money).
- In a game between 2 evenly-matched teams, there’s approximately 24% probability that the game will go to OT.
- That means that for every 100 times you placed a bet in this situation on a team to win in regulation, you’d lose 24 of them. That leaves 76 times out of 100 that either Team A or Team B wins in regulation time.
- If the teams are evenly matched, they’ve each got a 50/50 shot at winning those 76 games. So over time, Team A wins the game in regulation 38 times out of 100, and Team B wins the game in regulation 38 times out of 100.
- If Team A has a 38% chance of winning, Team B has a 38% chance of winning, and the Draw has a 24% chance of winning, that means that fair odds on Team A should be +163, fair odds on Team B should be +163 and fair odds on the Draw should be +317.
As you can see from the above scenario, if there’s a team that has a 50% chance to win the game and you take them in regulation time, you should get an extra 60 cents or more on the moneyline to reflect the increased improbability of winning your wager.
In this real-life example from Pinnacle.com, you can see how the odds for a full-game win and a regulation time differ by approximately 60 cents.
The Wild pays -128 on the full-game line and +131 on the -0.5 regulation puck line, which is a difference of 59 cents (28 + 31). Conversely, the Oilers are +116 on the full-game line and -145 on the +0.5 regulation puck line, a difference of 61 cents (16 +45).
If your sportsbook isn’t offering you approximately 60 cents better odds for taking a team to win in regulation time instead of the full game, you probably aren’t getting the value that you should.
And if you’re taking an underdog +0.5 in regulation time (giving yourself a chance to win on the Draw as well as the underdog win in regulation), make sure you aren’t paying much more than 60 cents on the odds for your increased probability of winning.
3. You have other options.
If you’re looking to either improve your payout or your chances of winning a bet, you don’t necessarily have to use NHL regulation time betting.
Here are a few other ways you can accomplish those things without limiting your bet to regulation time:
- -1.5/+1.5 Puck line
- +1/-1 Puck line
- Team Total
With the +1.5-/1.5 puck line, you either lay -1.5 goals with the favourite or take +1.5 goals with the underdog. The favourite will now need to win the game by 2 goals or more, which happens much more rarely in the NHL these days, but you can get rewarded with a huge payout if you win (often +200 or higher). If you take +1.5 goals with the underdog, you’ve dramatically increased your chances of winning but you’ll need to be prepared to lay -200 or higher in juice.
The +1/-1 Puck line is a safer way to play the puck line if you like the favourite, since your -1 puck line bet will push instead of lose if the favourite wins by 1 goal. You’ll still need the favourite to win by 2 or more goals to win your bet, and the payout won’t be nearly as high. The +1 puck line on an underdog will allow you to push if they lose by 1 goal, but you’ll need the underdog to win the game straight up to cash your ticket. You can find the -1 puck line at Pinnacle and 5Dimes, or you can create your own by splitting your bet between the moneyline and the -1.5/+1.5 puck line.
With team totals betting, if you like the favourite, you can take them to go Over their team total (generally 2.5 goals) or take their opponent Under their team total. Conversely, if you think the underdog will put up a good fight in tonight’s game, you can take them Over their team total or their opponent Under their team total. FYI, team totals include OT and shootout goals.
Understanding different types of sports bets can sometimes seem overwhelming
to people. The reason for this, though, is not because the bets are actually
confusing at all. It is because they are usually explained by a friend, or a
website that is not well written and key components of the explanation are left
out. Thankfully, we’re going to make sure that once and for all, you understand
one of the most common types of sports bets available. You’ll quickly see that
sports betting is a lot easier to understand and participate in than most people
give it credit for.
What Is a Moneyline/Win Bet?
One of the most common sports bets that you may have already made against a
friend without even knowing it is a moneyline bet. The moneyline bet is also
referred to as a win bet, depending on what part of the world you are in. The
United States refers to this bet as a moneyline bet while most of the rest of
the world refers to this as a win bet. Leave it to the US to need to be
different 🙂
Basically, all you are doing is selecting which team or person is going to
win an event. As we said earlier, you may have already made this type of bet
before without even knowing it. If you ever bet your friend a few bucks that a
certain team would win a game, you made a moneyline/win bet.
Winning or losing a moneyline bet only depends on if the team or individual
wins the game or event or not. It does not matter how many points or how
decisively they win the game by.
Let’s say the Dallas Cowboys are
playing the Green Bay Packers during Monday Night Football and you think the
Cowboys are going to win. If you place a moneyline bet on the Cowboys, you will
win your bet if the Cowboys win by one point or if they win by 100 points. If
the Packers win by any amount of points, you lose your bet.
This is the same for sports where you have individuals instead of teams
competing. For example, if you make a moneyline bet that Roger Federer will win
his next tennis match, you will win your bet when he wins and lose your bet when
he loses. It does not matter how he wins or by how many sets he wins. A win is a
win, and a loss is a loss when it comes to moneyline bets.
How Do Moneyline Bets Payout?
As you may have already suspected, all moneyline bets are not created
equally. Different moneyline bets will pay out different amounts depending on
who is competing. Let’s look at an exaggerated example to show you why. Let’s
say that Mike Tyson, one of the greatest boxers of all time, is going to fight a
boxing match against a six-year-old kid. Would it be fair to pay a bettor the
same amount if they picked Mike Tyson to win than if they picked the doomed
six-year-old to win? Of course, it’s not. If that were the case, everyone would
bet all of their money on Mike Tyson and the sportsbook would be broke the next
day. Moneyline bets payout dependent on how big of a favorite or underdog the
person or team you are betting on is.
- The bigger the favorite the team or person is, the less money you will be
paid on a winning bet. - The bigger the underdog the team or person is, the more money you will be
paid on a winning bet.
The amount that you are paid for a winning selection is decided by the casino
and made public before you make your bet. These are depicted with a plus or
minus sign and then a number that shows how far in each direction. If that’s
confusing, it will make a lot more sense with some examples. You might hear
people refer to this as the line. (The line is also commonly used to refer to
the point spread which we will address in a later post).
- If a team has a plus (+) sign in front of their name, they are an underdog.
- If a team has a minus (-) sign in front of their name, they are a favorite.
The larger the number next to the plus or minus sign, the more significant of
a favorite or underdog the team is.
For example, here are a few sample lines from an actual sportsbook that we
will use for an example.
In this example, the Buffalo Bills, Jacksonville Jaguars, and the St. Louis
Rams are all favorites. The Rams are the biggest favorites, and the Bills are
the smallest favorites. The Carolina Panthers, Tampa Bay Buccaneers, and New
Orleans Saints are all underdogs. The Saints are the biggest underdogs, and the
Panthers are the smallest underdogs.
How Do I Figure out How Much Money I’ll Win on a Moneyline Bet?
If you’ve been following along half asleep, now is the time to turn up that
attention. This part isn’t that confusing, but it is the part that most people
usually get lost on. Don’t worry, though. We are going to take it slow and walk
you through it step by step with plenty of great examples. You’ll be an expert
teaching everyone else in no time.
The amount that you win or lose on a moneyline bet is set by the plus or
minus sign and the number that is attached to it. Let’s start with the times
that we are the underdogs.
As an Underdog
As we already know, when we are the underdogs we are going to get paid more
than a standard even bet. If you’ve ever bet with friends, you probably bet like
this…”If my team wins, you owe me $10. If your team wins, I owe you $10.”
Regarding a moneyline, that would look like either +100 or -100.
The number after the plus sign is the amount we will win for every $100 we
bet. So in our bet with our friend, for every $100 we bet, we will win $100.
This is an even money bet. Let’s pull up our football lines from earlier to look
at a few more examples.
- If we were to bet $100 on the Carolina Panthers, we would get paid $105 for a
winning bet. - If we were to bet $100 on the Tampa Bay Buccaneers, we would get paid $110
for a winning bet. - If we were to bet $100 on the New Orleans Saints, we would get paid $135 for
a winning bet.
This does not mean that you have to bet in even increments of $100. If you
bet more or less, it will just follow the same ratio of payouts. We can divide
the number by 100 and get the amount we will get paid for every dollar we bet.
For example, let’s look at a few different bet amounts on the New Orleans
Saints.
Currently, we already know that if we were to bet $100 on the New Orleans
Saints, we would get paid $135 for a winning bet.
If we wanted to figure out how much we would get paid per $1 bet, we would
divide the moneyline number by 100. 135 divided by 100 equals 1.35. We would get
paid $1.35 for every $1 we bet.
So let’s apply that to a few bet numbers…
- If we were to bet $50 on the New Orleans Saints, we would get paid $50 times
$1.35, or $67.50 for a winning bet. - If we were to bet $250 on the New Orleans Saints, we would get paid $250
times $1.35, or $337.50 for a winning bet.
As a Favorite
Let’s take a look now at what a moneyline bet would pay out if we are a
favorite. As we already know, when we are the favorites we are going to get paid
less than a standard even bet as we are probably going to win our bet more
often.
The number after the minus sign is the amount you have to bet to win $100.
Let’s pull up our football examples again to make this a bit clearer.
Win Draw Win Bet Explained
- If we wanted to win $100 on the Buffalo Bills, we would have to bet $125.
- If we wanted to win $100 on the Jacksonville Jaguars, we would have to bet
$130. - If we wanted to win $100 on the St. Louis Rams, we would have to bet $155.
As you can see, we have to wager more money for the same payout the bigger
favorite the team is. Again, this does not mean that you have to bet in $100
increments. If you’d like to find out the amount you will win on other sized
bets, you need to figure again out the amount you will win per $1 wagered. As an
underdog, we divided the moneyline number by 100 to get that amount. As a
favorite, we have to do it slightly differently. We need to take 100 and divide
it by the moneyline number.
For example, if we wanted to figure out how much we would win for each dollar
wagered on the St. Louis Rams, we would take 100 and divide it by 155 which
would give us roughly $0.65. This means that for every $1 we wager, we will get
paid a profit of about 65 cents.
- If we were to bet $50 on the St. Louis Rams, we would get paid $50 times
$0.65, or $32.50 for a winning bet. - If we were to bet $250 on the St. Louis Rams, we would get paid $250 times
$0.65, or $162.50 for a winning bet.
Remember these are the profit number on a winning bet. You do receive your
original wager back as well. For example, if you made the most recent bet we
talked about for $250, the casino isn’t going just to hand you $162.50. That
would be a terrible deal for you. They are going to hand you $250 plus $162.50
for a total of $412.50. The $162.50 is the amount that you profited on your bet.
This is the case regardless of if you are betting on a favorite or an underdog.
The bottom line is that the odds all indicate your profits relative to a 100
unit base figure. When your team is a favorite, the number after the minus sign
is how much money you have to bet to win $100. When your team is an underdog,
the number after the plus sign is how much money you win for every $100 you bet.
Decimal Odds
Up until this point, we have been using the whole number format for moneyline
bets, also referred to as the American odds format. This format is the format
you will see for betting odds in the United States predominately and online in a
lot of sportsbooks. In most other areas of the world, you will see what are
known as decimal odds. Here is what the same line would look like in both
formats.
American Odds
Decimal Odds
These lines mean exactly the same thing. We already have talked about the
specifics of American Odds and how to calculate your payouts with them. Now
let’s walk you through everything you need to know about decimal odds and how to
calculate your payouts.
The decimal odds represent the amount that you will win, including your
original bet for every dollar wagered. In other words, this is the total amount
that you will be given back by the sportsbook if you win your bet. So in the
above example, if you bet $1 on the Cowboys and they won, you would receive
$1.68. $1 of this would be your original bet, and the $0.68 would be your
profit. If you were to bet $1 on the Packers and they won, you would receive
$2.30. $1 of this would be your original bet, and $1.30 would be your profit. As
you can tell in this example, the Cowboys are the favorites to win the game.
A completely even money bet would be 2.0. This means that if you bet $100 on
this bet, you would profit $100. The sportsbook would give you your original
$100 wager back, plus your $100 profit. Any team with a decimal odds number
greater than 2.0 is going to be the underdog, and any team with a decimal odds
number less than 2.0 will be the favorite. The only exception to this is the
straight up bets where the sportsbook puts both bets at the same odds and
adjusts for their juice (which we are about to discuss.
The Sportsbook Juice and Moving Lines
You might be starting to wonder how the sportsbook makes any money off of
this. You also might be assuming that the sportsbook is just gambling against
you. This is actually not what is going on. What the sportsbook tries to do is
get the same amount of money bet on each side of a game and then takes a small
percentage from all of the payouts. Let’s break down both of these points one at
a time, to make them more clear.
The Sportsbook Percentage
What Does Win Draw Win Mean
Let’s look at an example of a game where both teams are evenly matched. In
this example, the Dallas Cowboys and the Green Bay Packers are playing, and the
sportsbook thinks that both teams are exactly equal. You would expect then that
the lines for both teams would be -100. Meaning, that for every $100 you
wagered, you would win $100. Unfortunately, this is not the case. The moneyline
for this game would look a:
This means that regardless of which team you bet on, you will receive $90.91
for a winning bet. The sportsbook takes about 10% off the top of every winning
ticket. This is known as the house juice and is effectively how the sportsbook
makes its money.
Money From Both Sides
As a continuation of the above point, the sportsbook is always going to want
to get an even amount of money on both sides of the bet. Let’s say in our above
example that $1000 comes in on the Cowboys and $500 in bets comes in on the
Packers.
If the Packers win, here is the accounting for the sportsbook:
- Took in $1500 in total bets
- Packers win
- Payout the original $500 in bets
- Payout winnings of $500 times $0.9091, or $454.55
- $1500 – $500 – $454.55, or $545.45 in profit A great day for Packers fans
and a great day for the sportsbook.
If the Cowboys win, here is the accounting for the sportsbook:
- Took in $1500 in total bets
- Cowboys win
- Payout the original $1000 in bets
- Payout winnings of $1000 times $0.9091, or $909.10
- $1500 – $1000 – $909.10, or $409.10 in losses A great day for Cowboys fans,
but an awful day for the sportsbook.
As you can see, one of these scenarios is favorable for the sportsbook, and
the other is not. For this reason, the sportsbook will try and bring in the same
amount of money on each side if the bet is even. Here’s the same scenario if the
casino brings in $1000 on both sides of the bet.
If the Packers win, here is the accounting for the sportsbook:
- Took in $2000 in total bets
- Packers win
- Payout the original $1000 in bets
- Payout winnings of $1000 times $0.9091, or $909.10
- $2000 – $1000 – $909.10 = $90.90 in profit for the sportsbook
If the Cowboys win, here is the accounting for the sportsbook:
- Took in $2000 in total bets
- Cowboys win
- Payout the original $1000 in bets
- Payout winnings of $1000 times $0.9091, or $909.10
- $2000 – $1000 – $909.10 = $90.90 in profit for the sportsbook
The sportsbook couldn’t care less who wins this game, and that is how they
like it. The smaller guaranteed profit is how they like to operate. If the lines
are not even, it gets a bit trickier for the casino as they will need more bets
on one side, but the guiding principle is the same. They try and get the correct
amount of bets on each side so that no matter who wins, they profit.
The way the sportsbook does this is by shifting the moneyline to make one
side more enticing and the other less enticing. For example, let’s look at our
above example where too much money was coming in on the Cowboys. The sportsbook
might shift the line to something like -130 for the Cowboys and shift the line
to something like +110 for the Packers. This will make more people, and more
money starts coming in on the Packers as you will now be getting a much better
payout if the Packers win. Subsequently, you will be getting a worse payout if
the Cowboys win and have to risk more money to get the same payout. The
sportsbook will continually shift these lines back and forth if need be to try
and get the amount of money they want on each side. It doesn’t always work out
perfectly for them, but that is not going to affect you as a bettor at all.
If you’d like to learn more about the sportsbook juice, here’s a great link
that
goes into a bit more detail on the topic.
Ties
When it comes to ties, it will all depend on the sport you are betting on and
the sportsbook you are betting at as to how the tie will be handled. Typically,
if you are capable of betting on a tie, then the other two win bets would be
losses in the event of a tie. If it is a sport where you are not capable of
betting on a tie, both bets would typically be a push, and you would receive all
of your money back with no profit or loss. Sports like soccer allow patrons to
bet on ties and most sportsbooks treat these as losses if you bet on a team to
win. Sports like football, you cannot bet on a tie (except as a prop bet), and
therefore these bets would be treated by most sportsbooks as a push. If you bet
$100, you would get your $100 back.
Win Or Draw Bet
Moneyline Strategy
Just because this bet is so simple does not mean that it can’t be a
profitable bet for you. The professional bettors use this bet on a daily basis
to support their livelihood. Remember, how complicated a bet is has nothing to
do with how good the payouts are going to be. For some reason people like to
over think this and they believe that there are special complex bets that are
only available to seasoned sports bettors. This is simply not true. If you’d
like to look into some specific strategies to help maximize your winnings with
moneyline bets, here’s a great
guide we’ve put together for you to check out.