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I follow the English Premier League and picked up a win on Bournemouth with good odds of £4.50.  I got to thinking that in close match-ups, would it be better to place a bet on my team of choice PLUS a draw in case they don't win where I feel the other team has no chance?  

Does anyone share this strategy?  What's your suggestions?  Poll is open ended.  Thanks guys.

The bookies are so designed that any option you chose will have a corresponding odd which increases as the risk increases and vice versa. Consequently,  direct wins have higher odds than 3ways.

I prefer direct wins after painstaking analysis of the match; since I play just few matches, 3ways will require I combine many matches to achieve a reasonable odd and this is not what I'm willing to do.

That's true - placing to win bets will bring better odds, but wouldn't it be better to have a fall back position to recover your bets if the teams drew a draw?

I will prefer to bet on win only with better odds than just win or draw.
Bookies tend to underestimate the odds on win or draw and even if you win you don't earn that much.
So I tend to prefer taking the risk personally.

If the odds for the double chance (win+draw) are 1.50 or better, i'll go for it over the win or draw only. I've experienced unexpected results that led me to take safer bets, and I prefer to have a winning bet even if the payout isn't as high.

If you do go for the win+draw strategy, make sure to browse other similar markets because other bookies don't set the same juice on every market, so you could find the odds on the win+draw market slightly worse or better than the asian handicap +0.5, which is the same as win+draw.

The payout in sports betting does not depend on the actual probability of a given team winning/losing/drawing, but on how other players bet. Therefore, it is possible that the draw is underestimated and therefore gives disproportionate returns in relation to the risk, because, as I note in this thread, most people only bet on winning/losing because you can win more. What I mean is that adding to the DRAW bet may actually reduce your payout by, for example, 20%, but it increases the probability of winning by 50%.

I woud only choose to bet on either win or draw, not putting win+draw as the odds is certainly against us.

if we want to win in football, we need to choose only one odds, study the game and analyze it. I'm not saying it will automatically bring success as it still depends on how good you are with your skills, but I tell you, the moment you bet on win + draw, that's not gonna help you especially in the long run.

I wonder how you will defend yourself if I ask you on what basis you claim that "odds is certainly against us". What specific mechanism determines this, because it seems to me that this is a far-fetched statement based solely on yours own experience (and therefore based on a low, non-representational trial)?
If you're playing for fun, bet anything. If you are playing to win, I would carefully calculate how much the draw is valued and how possible it is (compare risk/reward ratio, not only rewards).

I certainly wouldn't go placing bets on WIN+DRAW every time, especially if one team were heavily favoured over another.  But, to my way of thinking, I'm wondering if one team has the edge over another (and the odds were very close) then it might just be worth doing a double bet i.e. WIN+DRAW, not just WIN.

It all depends on the odds. In close match-ups, however, I'm afraid it's hard to do this because the odds are also close. If you place a bet on one team and another on draw, you might only be profitable if you win the draw. It's not a win-win bet. Whereas, if you do this in a match-up that has a clear favorite and underdog, you can place a win-win bet if you side with the underdog like Bournemouth in your example and draw.

If you're betting on Fulham, for example, against the Arsenal, you can also place a bet on draw and you're assured that whether the game ends with Fulham as the winner or it ends with a draw, you will still win.

Of course, both have and face risks, so it is better to choose and risk money on bets that can provide large enough odds because when you win, you can clearly feel much more satisfaction.
But you still have to think about how to get high odds with the risk of losing being minimized, there are quite lot of betting options that gamblers can choose from and we have to really determine what we are going to bet on.

Like me, when in sports matches, especially football, I will always dare to take much bigger risks but still measure them because the profits from winning will be more worthy than the risks I face.
Whether it is a draw or double chance winning option, the most important thing is that the chance of winning can be quite large and combine it with several other matches to make a multi bet.
This is very risky, but when you win and get number of profits, the satisfaction and excitement will be truly unforgettable.

That's a good way of taking advantage of teams under the radar, and the bookies don't immediately adjust the odds regardless of a team's form, so IMO it's worth taking the risk in an even matchup knowing they could become more favored in their future matches.

I also agree with Darker, it depends on what odds you think are worth it because with close odds, you'll be getting around 1.45- 1.50 odds for a win+draw, and others don't always see much value on these odds, so they would opt for the draw no bet, which goes for 1.80- 2.00 odds.

It solely depends on what you are targeting. Lets say you have targets of winning large odds, the solution will be to choose an outright result, which is a win or loss or draw, but if you care about the safety of what funds you have invested then the best approach will be multiple choices as this will give you a better shot at recoping your funds instead of a loss.

As it always is, an outright choice gives a better odd than choosing multiple options.

There are several kinds of bet we can choose from depending further if it's a league or knockout. For leagues, Win-Draw both are a good option to go with.
The bookies have made it even difficult with the 90min and extended result bets. When I'm too confident that a team would be an overkill against the other team I go with the win bet. It's easier and much more fun to watch. When it's all about luck, it doesn't matter if you bet for 90min or for the whole game. I go for 90min win as the odds are better there. And statically, the match being draw on leagues

If I feel like the underdog has a chance to win, I generally go with Underdog+Draw. If I'm making a parlay, in that case it is usually my pick +draw just to be on the safe side as you know, any little ick in the parlay and the whole parlay goes to waste.