Three-way moneyline bets are the most straightforward way to place a wager. If you are familiar with two-way moneyline betting, you would know that it's relevant to the handicapped points between the “favorite” team and the “underdog”. However, three-way moneyline bets approach the problem more bluntly, as you have to bet on 3 possible outcomes for your team, including win, draw, or lose. 

In other words, aside from the option of picking the game's winner, a 3-way moneyline bet also gives you the option of betting on a tie. This article will provide you with a more detailed explanation of 3-way betting and its usage in popular sports. Let's get started now.

What are Three-Way Moneylines?

Three-way moneylines are common only in sports that allow a tie to occur after official time has ended. There are three possible outcomes for a three-way moneyline bet: Your team of choice winning the game, your team of choice losing the game, or the game ending in a tie. Only if your option is accurate will you receive a payout. Otherwise, you will lose all your stake. And that is the very definition of three-way moneylines.

What is Three-Way Moneyline in Betting?

What is the Difference Between Regular Moneylines and Three-Way Moneylines?

Of course, the draw is the deciding factor here. Given its characteristics, three-way moneylines are used in sports where the outcome could be a tie, or in other words, the winner cannot be determined within standard match time. 

In addition, the probability of winning for three-way lines is 33% (1/3 odds), which is much lower than the probability of winning for two-way lines of 50% (1/2 odds). So, betting on a three-way money line offers a higher payout potential for bettors than a traditional money line. In return, the player's chances of winning are reduced. 

Which Sports Allow Players to Bet on Three-Way Moneylines?

As noted above, three-way moneyline bets only make sense in sports where a tie is a logical outcome of the game. Therefore, this type of bet is most popular in football and hockey. The reason is simple: when compared to other sports, the frequency and percentage of matches resulting in draws are significantly greater in these. 

By comparison, basketball is also a sport that allows three-way moneyline betting. Even so, the average number of points in the game between the two big teams is a barrier to the feasibility of a draw. So, the odds of a draw in basketball three-way moneyline betting are very high. 

What Happens When There is a Tie in Soccer?

Given the lower-scoring nature of the game, draws in football are extremely common. Normally, a football match can take more than 90 minutes to find the winner if it is a cup match. Therefore, the result of the three-way moneyline bet will be settled after 90 minutes of the match, instead of the final result.  

Betting on the draw works the same way as betting on a team. When betting on a draw, though, you're expecting a score tie at the end of full-time. The following example of will decide how three-way moneyline odds operate for a soccer match:

Three-way Moneyline
Barcelona +230
Draw +200
Real Madrid +150

As you can see, a tie option is a possibility to be considered alongside the probability that either team will win outright. If you bet on either side and the match ends in a draw within 90 minutes, you will lose your bet. You will win your bet if you correctly predict one of the 3 possible results of your choice. 

A Three-Way in Hockey and Examples

It will be the same in hockey. As for the sport, the NHL tournament is considered to be the most attractive to bettors in the world with its age-old nature and quality of expertise. Just like in football, three-way moneyline bets here only apply to regular time results and eliminate the importance of extra times and penalty shoots. 

To compare the difference between a two-way moneyline bet and a three-way of the same type, we will use an NHL match as an example. You can see the difference in odds between the two bet types as follows:

Two-way Moneyline
Anaheim Ducks -210
Los Angeles Kings +160

And this is three-way moneyline odds for this same game. 

Three-way Moneyline
Anaheim Ducks -140
Draw +200
Los Angeles Kings +190
Source: Freepik

Based on the above table, we can see that the position of the favorite team and the underdog team is unchanged. However, three-way moneyline betting offers more impressive odds, or in other words, higher potential payouts. Therefore, you should consider all possibilities and the data surrounding the match to analyze the risk and choose the type of bet that suits you best.

Conclusion

Three-way money line betting is the most popular type of bet in sports betting. We hope that this article will provide you with all the information you need about this type of bet and how to utilize it to maximize profits. If you are looking to learn more about other topics in the world of sports betting, our website always offers in-depth tutorials from experts to broaden your horizons.

Published: 10 June 2022 15:09