Definition of Draw No Bet

What does the term "draw no bet" mean in the sports betting world? What is the definition of the term "draw no bet"?

If you are betting on sports, selecting the "draw no bet" option means that you will have your money returned if the game that you are betting on ends in a draw.

For instance, let's say that the odds for a game look like this:

Bayern Munich, 1.85
Draw, 3.50
Borussia Dortmund, 4.40

If you did a traditional bet on Bayern Munich and the game ended in a draw, you would be out your bet.

However, let's say that you wanted to choose the "draw no bet" option. Those odds might look like this:

Draw No Bet

Bayern Munich, 1.45
Borussia Dortmund, 3.80

Now, these odds aren't as good, but you would not lose your bet if the game ended in a draw.

You are obviously pay a premium to use the "draw no bet" option.