So, what do we have here? It seems like we have another type of wager that the top bookies offer to their clients/customers. The top bookies I am referring to are the likes of bet365, Unibet, William Hill, Coral, Betway, Betvictor, and ComeOn. The list is so long but let me just stop there for everyone's sake.
Anyhow, what this wager means is that a punter can bet on a soccer team to win or to draw. If the two competing teams end up in any kind of a draw, the punter will not get any payout but instead get his/her stake back just the way it was. I guess that is why it is called a “draw no bet” wager.
I can take an example of a football match between Ajax and Arsenal FC. If a punter placed a bet on the Dutch Team to win the match but fortunately or unfortunately the two teams draw, the punter's possible “win” will be nullified and the punter is refunded with the exact amount of stake that he/she had used. The punter will be very unfortunate if that team loses to the English football club.
A punter should however not that the odds associated with this wager are normally not that too much. Once in a while, a punter can get lucky with the payout if the side he/she is own wins the match and yet it was considered as an underdog team.
The wager can be applied to the whole full time of the match or just the half-time. The odds for the latter are normally higher since the time provided for that to happen is always shorter by half.
Different sports books have their own ways of presenting this wager to their customers. The percentage profit, however, rarely do vary.