Depending on the bookmaker and the particular event, the possible number of bets available to a punter may vary from one to potentially hundreds. Continuing our guide to some of the most readily-available bet types at most major bookmakers, this time we turn our attention to 2-Way and 3-Way bets, Draw No Bet (DNB), Double Chance and the European handicap.
This bet type is a selection made on two options, also known as a “Winning bet”, “Moneyline”, “Puckline” or “Draw no bet”.
This situation occurs in sports that cannot end in a draw (tennis, basketball, etc.) or in sports where, if a draw occurs, the bet is considered invalid and the amount of money placed as the original stake is returned to the player.
The 3-Way bet includes the same possibilities as the 2-Way, but then with the added possibility of the draw. The most common 3-way bet is given in football, and is also known in the market as “1X2.”
Draw No Bet (DNB)
This is a bet without a draw option imposed by the bookmaker, perhaps as an enticement to players through a special offer. Bets are placed on a winner, but in the event of a draw the bet is declared void and the original stake is returned. Here is an example;
Real Madrid are playing Barcelona, and you believe Barcelona should win. However, acknowledging this will be a difficult task as the draw is also possible, you can place a bet on Barcelona for a ‘Draw No Bet (2 DNB).’
If Barcelona win the game, your bet is a winning one, if the game results in a draw, you get your stake back, and of course in the case that Real Madrid win the match, you lose the bet.
Some bookmakers offer the “Double Chance” where it is possible to combine the three options of the classic 3-Way bet into two outcomes made as single bets. This means that there are three possible bets which can be made; one team or the other to win (meaning a draw results in a loss of stake) or either team to win or draw, ensuring the original stake is only lost if the team or player that is backed loses.
Handicap betting applies a pre-match advantage (or disadvantage) to one of the competing teams or players. In such a way, the bet is determined to be won or lost only after adding the handicap to the final result of the event.
Here is an example, as applied to a football match between Brazil and Honduras. Brazil start the match as a clear favourite, and as such, odds of only 1.25 are applied for a Brazil win. You believe Brazil will win comfortably, so you choose to bet on Brazil with a handicap of -2 goals, at odds of 3.20. A winning bet is achieved if Brazil win the match even after applying the handicap to the final result of the match. For instance, if the final result is Brazil 3 – 0 Honduras, once the handicap of -2 is applied, Brazil still claim the win by a scoreline of 1 – 0. In this case, the bet is a winning one.
Betting using the European Handicap (EH) means betting on the classic 3-Way or “1X2” scenario, but at the same time giving one team an advantage (or disadvantage, depending on your viewpoint) of one or more goals. With this handicap there is no chance of getting back the amount invested in the stake (void), because you either win or lose.
Consider a match between Chelsea and Everton in which Chelsea are the clear favourites, and so the bookmaker offers the odds in EH to ensure the result can be made more competitive:
Chelsea (-1) odds = 3.50 (The bet is won only if Chelsea win by more than one goal.)
Draw (Everton + 1 or Chelsea -1) odds = 3.60 (The bet is only won if Chelsea win by a single goal.)
Everton (+1) odds = 1.75 (The bet is won in the case of a draw or an Everton win.)
There are alternative methods of displaying the same European Handicap concept with different bookmakers. For example, Handicap (2: 0), which means a handicap of -2 goals is applied to the home team, or EH + X / EH-X, which means that X goals are added to or subtracted from the home team. You may also find the above examples with the name of the team the handicap is applied to.