A draw no bet is a type of wager where if the match ends in a draw, then the bettor gets their stake back. Essentially, it's like betting on either team to win, but with insurance in case of a tie.
For example, let's say you wanted to bet on Arsenal to beat Chelsea in an upcoming match. However, you're worried that the game might end in a draw. In this case, you could place a draw no bet on Arsenal. If Arsenal wins the match, then you win your bet as usual. But if the game ends in a draw, then you get your stake back - so there's no risk of losing money if the game ends in a stalemate.
Draw no bets can be useful when betting on close matches where there is a relatively high chance of a draw occurring. They offer more security than simply betting on either team to win outright, but at the cost of slightly lower odds (since there's now less chance of either team winning).
So if you're ever unsure about whether to place a regular bet or a draw no bet, just ask yourself how likely you think a drawn match is - and act accordingly!