Expected Return When It Is Possible to Get a Refund on Bet777 Id

A “draw no bet” bet on a football game is the best example by Bet777 Id of this. If you place a “draw no bet” bet on Arsenal in a game between Arsenal and Chelsea, you win if Arsenal wins, lose if Chelsea wins, and get your money back if the game ends in a tie.

If A Refund Is Possible, Calculate Result I's Expected Return:

(Odds on outcome I) * (probability of outcome I) + (1.00 * probability of draw) – 1

Note that the $1.00 is only shown to show what a refund looks like, since a pay out with chances of $1.00 is the same as a refund. The answer can be rewritten as:

(Odds on outcome I) * (probability of outcome I) + (probability of draw) – 1

Let's say the head-to-head odds are as follows, with your estimates of how likely each result is.

Arsenal win – 2.00 (40%)
Draw – 3.40 (20%)
Chelsea win – 3.80 (40%)

Now suppose the ‘draw no bet’ odds are:

Arsenal – 1.40
Chelsea – 2.75