The win draw win bet is one of the most common wagers to place at a bookie or betting exchange online.
Put simply, win draw win (known as 'Match Odds' on Betfair) is backing one of the teams involved in a fixture to win the game, or for the match to end in a draw.
As there are only three possibilities for the result of a match - extra-time and penalties are not included in basic win draw win bets - the wagers are particularly useful for anyone new to betting.
Win draw win also includes complications such as double chance betting, draw no bet gambles and the Asian handicap markets, but we'll come on to those in more detail later.
How to place a bet
Let's take a look at what you need to do to place a bet on the win draw win market.
The match we are going to be using as an example is the Premier League game between Leicester City and Newcastle United.
Once you have selected the match you want to bet on, head over to the 'Match Odds' market on Betfair. This is one of the most popular markets on the entire betting exchange.
On some other sites, this market is sometimes known as the 1x2 bet, with x representing the draw option.
As you can see, Leicester City have been priced up at 4/7 by Betfair for this match, while the draw is at 16/5 and match outsiders Newcastle United can be backed to win at 11/2.
This means that for every £70 placed on Leicester to win, you will win £40 plus your stake. For the draw, a £50 bet could result in a profit of £160, while anyone bold enough to place a £20 bet on Newcastle United would win £110 plus their stake if that result came off.
As soon as you have decided which team you want to bet on - or if you have selected the draw - click on your chosen option to place your bet.
The side of the page will then open up the bet slip on Betfair, allowing you to place your wager. If you change your mind and want to get rid of your selection, click the small red cross to cancel the bet and return to the markets menu.
All you have to do to win a Match Odds bet is to predict the team that wins the match, or if it is going to be a draw.
As long as you are sure you want to proceed with your bet, enter your chosen stake into the box and click the yellow place bets button.
If you have the confirm bets option ticked you will then have another chance to change your mind about the bet, or click place bets to proceed with your wager.
Your bet is then placed and you see all the bets you have placed by clicking on the my bets button in the top-right of any page on Betfair.
Double chance betting explained
The double chance is another of the most popular types of bet. While it is quite similar to Match Odds, there is one key difference and the clue is in the name - you have double the chance to win.
This is due to the fact that you are Dutching two separate outcomes, so you can only lose if the final result is the third option.
In this example, you can bet on home/draw (Leicester to avoid defeat), away/draw (Newcastle to avoid defeat) or home/away (the game to not be a draw).
The double chance market can be particularly useful in football trading when you are sure a team is not going to lose a match.
One of the most common times to use the double chance market is when a strong team is playing away from home, as this reduces the risk of losing while still producing attractive odds to bet on.
Draw no bet explained
Another popular type of match bet is the draw no bet (DNB) option.
This means that if you bet on Leicester City and they win the game, you win your bet as usual. If Newcastle United win, then your bet on Leicester City is a loser. But if the result is a draw, then your stake is returned to you.
DNB is a particularly useful option if you want to bet on a team but have a little bit of protection.
As there are so many matches that surprisingly end in a draw, the draw no bet option is a great choice if you want to steadily build up the balance of your betting account.
Handicap betting explained
Handicap betting is a little bit more complicated than the Match Odds, double chance and draw no bet bets that we have already covered.
The handicap offered either adds or takes away goals from a team's final score. For example, if the handicap is Leicester -1 and the match finishes Leicester 1-0 Newcastle, in the eyes of the bookmaker that would be a 0-0 draw.
Handicap betting is a good method if you believe a team will win a match comfortably. However, for a bet on Leicester -1 to be a winner, they must beat Newcastle by at least two clear goals, for example by 2-0, 3-1 or 4-2.
Typically, handicap options will go up to -3 and +3, which are particularly useful if a major club is playing a minnow and you expect an easy win. For a -3 handicap bet to win, your team would have to win by four goals or more.
Asian handicap betting explained
Finally, Asian handicap betting - sometimes known as line betting or the spread - is another key betting method for football traders.
The Asian handicap market is only available on Betfair's exchange, rather than in the sportsbook, and can be found on the menu on the left-hand side of the page.
Asian handicap bets work in the same way as handicap bets, but as they also work on a .5 basis, this means that the draw is eliminated as a possible result.
When there are two options - for example Leicester -0.5 and -1 - this means that your stake is split on the two different options. So if your bet is £10, £5 will go on -0.5 and £5 will go on Leicester -1.
In this example, if the result is a 1-0 win to Leicester, the -0.5 part of the bet would be a winner, but the -1 section would be a loser.
The +/-0 Asian Handicap market works exactly like the draw no bet market on Betfair.
More winning possibilities means that Asian lines are becoming increasingly popular with traders.