Last Updated on 14/09/2022
Fact checked by: Mark Lewis
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.
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.
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
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.
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.
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.
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.
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.