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3-Way Moneyline: What Does 3 Way Mean in Betting?

Publish Date: 24/01/2024
Fact checked by: Drew the DFS Guy

There are countless different sports betting markets to choose from in this day and age. All of these markets will have pro and cons associated with them. They will suit certain circumstances and scenarios. Therefore, it always is a good idea to make sure that a given market is the best tool to use in a given situation. By learning about the different types of markets available to you in the sports betting space, you are setting yourself up for success as best as possible.

The 3 Way Moneyline bet is similar to a two way bet, but naturally, it has three potential outcomes instead of two potential outcomes. It is a traditional type of bet whereby you can either bet on Team X to win the game, on Team Y to win the game or bet on the game ending in a draw.

Comparing 2 Way Bets and 3 Way Bets

The odds are usually better on a 3 way bet because there is an extra variable added into the equation. With a two way bet, if there is a draw in the game, your funds will be refunded. However, in a three way bet, if the game ends in a draw and you have not chosen this outcome, you will have lost your stake for good.

This article explains the nuances of the 3 Way Moneyline bet and outlines the best ways in which you can take advantage of this market to be profitable.

Most Important Facts About 3 Way Bets

  • Better value bet
  • More options
  • Terms vary from operator to operator
  • Ideal for soccer and NHL games

Defining a 3 Way Moneyline Bet

For a 3 Way Moneyline, there are three potential outcomes; Team X winning the game, Team Y winning the game or the game ending in a draw. You will only get a return if your selection is correct. Otherwise, your money will be lost.

Example of a 3 Way Moneyline Bet

One of the most popular sports for 3 Way Moneyline bets is soccer. League games that are even after 90 minutes of normal time will not go into extra time, this will be the final result. Some 3 Way Moneyline bets will also work for knockout games where the game will go to extra time and even penalties if the game is level after 90 minutes.

You need to check to see if your chosen sports betting site has a market that takes into account the result of just 90 minutes only in this circumstance. If they do not, then there will not be a 3 Way Moneyline winner option open to you.

Here is an example of a 3 Way Moneyline bet in action;

  • Manchester United +120
  • Draw +250
  • Chelsea +180

Therefore, if you believe Manchester United are going to win the fixture, you will place your bet on them to win. If you place a bet of $100, you will get a return of $120 if they win the game. If you believe the game will end in a draw, you will bet on the draw result. Betting $100 on this outcome will yield you $250 if the game finishes in a draw. Finally, if you believe Chelsea will win the game, you will get a $180 return off a bet worth $100 on this outcome.

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How the 3 Way Bet Works

3-way bets are used in sporting events that have three varying outcomes.

  • Team A win
  • Team B win
  • Team A and Team B tie

The odds on 3-way markets will always be more than the 2-way markets because there is one more outcome - the tie.

When a bettor places a 3-way bet, there’s just one way to win, but two ways to lose. Other sports also adopt this format of 3-way wagering betting strategy aside from the popular soccer betting, such as ice hockey.

In the 3-way bet, the chance of a successful bet would always be 1:3, compared to 1:2 for the 2-way bets. 3-way betting is reasonably more popular than 2-way betting because despite wagering with greater risk, you’re getting better odds and more bang for your money.

Popularity of NHL 3 Way Bets

One of the more popular sports for 3 Way Moneyline bets in the United States is games in the NHL. This is the most popular hockey league in the world and as a result there is a significant amount of bets on each of the games. In NHL games, there is the potential for a game to go to overtime and even a shootout.

Usually as a result for NHL games, there will be 3 Way Moneyline markets for your selection winning at any time, no matter what period of the game it concludes at or you can use a 3 Way Moneyline that only applies to a given period of the game, such as your team selection winning after overtime.  Generally, people will choose the 3 Way Moneyline option when they are looking to get some better value.

Key Considerations when using a 3 Way Moneyline

While on the surface the likes of 3 Way Moneyline betting can appear to be easy and straightforward, there are also some nuances you need to consider. There are constant obstacles that need to be negotiated. If you are only dealing with strong favorites, it is going to be tough to make much of a profit.

If you are regularly trying to back the underdog in a game, then it can turn into a frustrating experience for you. Therefore, you need to be selective, picking and choosing the right bets for this market when you see odds that have value.

The 3 Way Moneyline market is a good way for those new to sports betting to dip their toes in and to learn the ropes. It allows them to understand how sports betting sites work in terms of placing bets. It is a market that is easy to understand and it is hard to make a mistake in this regard. Find out our 4 key considerations here:

Identifying Potential Underdogs in a Fixture

When it comes to identifying potential underdogs in a fixture, whether you think they may draw or win a fixture, it is all about trying to read through the line. While on the surface a team can appear to be struggling badly, there can often be more than meets the eye. You will need to take into consideration the team’s record at a given ground.

Peculiarity of the Present Circumstances Facing the Team

Some teams play particularly well at certain venues and this is not always reflected in their price. Current form statistics can sometimes be deceiving. A team may have narrowly lost a few games, potentially down to poor refereeing decisions, injuries, suspensions, red cards or flukey scores. Therefore, they may not be as bad as they appear to be on initial impressions.

Competition against the Heavy Underdogs

When a team is partaking in a derby or rivalry game, even struggling teams can usually raise their performance levels. There is even more than league points on the line in these situations. They also have the pride of the club and the fans at stake. The players will be doing their upmost to earn the hearts of the fans by showing strongly in this fixture. Therefore, heavy underdogs can often pose some nice value in these situations.

The Upcoming Run of Games the Opposition May Have

It is also a good idea to check out the upcoming run of games the opposition may have. If there is a tough set of fixtures ahead, the manager may decide to rest some of their better players. This can provide an opportunity for a relatively weaker team to take advantage of. It levels off the playing field somewhat as the opposition will be missing key players and the team might not mesh very well together without them.

Try To Win Your 3 Way Bets

There is an abundance of sports betting sites on the market today. It can be a daunting experience trying to pick one that best suits your needs. For sports betting, it is important that a site ticks all of the boxes for you. If you are going to be regularly placing 3 Way Moneyline bets, you want to make sure that the terms offered by the platform are in line with your expectations.

You may want to ensure that 3 Way Moneyline bets will hold even if a game goes into overtime for example. Luckily, you can check out our comparison guide for the best sports betting sites. This will quickly allow you to see which option will be suitable for your needs.

We can also help you find the best betting offers to boost your bets, such as the Betfair welcome offer and 888sport deposit bonus offers that match your first deposit.

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3 Way Bets Are the Way to Win

As you have seen throughout this article, 3 Way Moneyline bets are very easy to understand, but they can be hard to implement profitably. They are a step more advanced than a two way bet and they will offer you better value.

It gives you plenty of flexibility in your approach, especially if your knowledge about a given sport is very good. This is where you can get your edge on the sportsbooks, by having better information and insight than the people who are making the odds. You will be putting yourself in the best position possible to be profitable over time. Check out our Trixie betting strategy to further improve your betting prowess.

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