3-Way Bet Meaning, Explained

3-Way Bet Definition: What Does It Mean in Betting?

• a win for the home team
• a win for the away team
• the tie (draw)

It is particularly important for bookmakers to offer odds on 3-way results in low-scoring sports such as hockey and football as draws are more likely and, in some circumstances, a desirable outcome for participants.

What Is a 3-Way Bet in Hockey?

1st Period 3-Way Bet in Hockey

What Is a 3-Way Bet in Football (Soccer)?

2-Way vs. 3-Way Bet: Key Differences

When to Use 3-Way Bets

• Draw expectations – when betting on hockey or soccer there will be a number of times in a season when you think that participants are evenly matched. When this is the case, betting on the draw on the 3-way market could well prove more profitable than taking a guess on the outcome of potential overtime periods.
• Improving bet value – whenever there is an overwhelming favourite in a sports matchup, it often makes it unrealistic for sports bettors to return a decent profit. However, by plumping for the draw, you could be in for a sizable payday if the perceived stronger team suffers a dip in performance level.
• Recent trends – it is often a surprise to see a sports team run up a sequence of consecutive drawn matches. However, once you spot a pattern like this, it is often worth investing in for the short to medium term. If this run continues for any length of time you could well see your account credits rise.

Pros and Cons of 3-Way Betting

Pros

• Higher Odds – three match outcomes gives rise to the 3-way bet, meaning a home win, away win, or a tie can be gambled on. The increased number of scenarios means that the returns on each outcome is boosted against those offered on 2-way alternatives.
• Draw Option – 3-way markets give you the chance to bet on the draw. If you like more betting variety, the three-way scene could well become your destination of choice.

Cons

• Riskier – it is more difficult to pick a winner in any field that involves more outcomes, which makes betting in 3-way markets a riskier proposition.
• Regulation Time Only – if you like to keep your betting interest in a sports match going as long as possible, 3-way betting may not be for you. 3-way bets are settled at the end of regular time. During overtime, extra time, or shootouts you may, therefore, become a mere spectator.