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Richard Miller
Author:
Richard Miller
Last Updated:
November 6, 2020
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This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
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Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.
Richard was Marketing Manager at a global bookmaker and worked in the enterntainment sector for decades before working his way up in the world of entrepreneurs. His focus areas are mainly in the fields of sports and politics. He has a Science Degree, visited Harvard University and is now our hardworking Editor-in-Chief at BettingBilly.

3-Way Moneyline Explained in 2020

3-way moneyline bets are the simplest way to make a wager. Bettors should determine the straight-up winner of the match or event, which makes this betting type straightforward. Besides the option to choose a winner of the game, a 3-way moneyline bet provides an additional opportunity of placing a wager on a draw. Take a more in-depth look at this article as it brings 3-way betting thoroughly explained. Your sports betting skills will boost immediately.

What is a 3-way moneyline?

While the most basic moneyline wager offers two variants of the possible outcome, a three-way bet involves three possibilities. Besides choosing a winner of the match, bettors can also put their money on a draw. It is one of the basic betting types, but at the same time, the most popular among bettors.

3-way moneyline betting applies mostly to sports and events that can end in a draw. A bettor can choose from three possible outcomes. This type of bet is usually known as a 1x2 wager, meaning that you can bet on the home team to win, away team to win, or a draw. Since there are three possible outcomes, and it is harder to predict the correct one accurately, 3-way bets offer more value compared to traditional two-way moneylines. Let’s check the table below and contrast these two betting methods to the same event. As a reference, we have picked a German Bundesliga match between Wolfsburg and Freiburg.

TeamOdds
Wolfsburg-256
Freiburg+175

 

TeamOdds
Wolfsburg-139
Draw+300
Freiburg+333

From the odds presented, we can see that a three-way bet offers better value than placing a wager on a 2-way moneyline. If you decide to back the favorites, in this case, Wolfsburg, you can land a $100 profit with a $139 stake with a 3-way bet. On the other hand, for the same 2-way bet, you need to wager $256 to be able to get a $100 profit. This difference is because a three-way bet includes a draw as the possible outcome.

Types of three-way moneyline

To get 3-way betting explained better, we will dip into a couple of varieties. Those are not dependent on the winner of a 3-way game at all. They are mostly applicable to specific sports and related to the goals or points scored. Let’s take a dip and explore what is a 3-way moneyline in these cases.

One of the most exciting varieties is a bet related to the question in which half are more goals scored. This wager applies mostly to soccer, due to the nature of this sport. Since there are two periods of the soccer match, this kind of bet also offers three choices:

  • More goals will be scored in the first half
  • More goals will be scored in the second half
  • An equal number of goals will be scored in both halves

Another type of three-way bet is related to the goals scored but not to the periods of the game. With this approach, you might land a winner even before the end of the match. It is a First-to-Score bet, where a bettor is supposed to pick a team that should take the lead in the game. In this case, three outcomes are possible as well:

  • Home team scores first
  • Away team scores first
  • Neither team scores

The third option means that a match will end in a goalless draw, but it is also a strong possibility.

Placing a 3-way moneyline: Step-by-Step

Since this is one of the most common betting types, you will find it very easy to put a three-way bet. The odds for this betting type are usually displayed as a default for the specific match. But, if you are a newbie in sports wagering, just follow these steps, and you will successfully place your first 3-way bet:

Steps Box Background
  1. Pick an Online Sportsbook to place a bet: You should check the list of recommended sportsbooks and select one according to your preferences.
  2. Sign Up for an account: For being able to place a bet, you need to have an online account created and funded. You will have a variety of funding options at your disposal
  3. Pick a bet: Now, here is the essence of sports betting. There are tons of daily events, and sometimes it is challenging to choose the right one. To make your search for the perfect pick easier, you can sign up to Billy’s list for free, and check some pro picks we made for you.
  4. Place a Bet: Head to the match you’ve decided to wager on and simply click on the odds. You will see the betting slip automatically populated. Enter a stake and place a bet with just one click on the button.
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Usual sports for placing a 3-way moneyline

The most popular sports to put this kind of wager are the ones who feature 3-way games. It means that a tie is a logical outcome of the match as well. Therefore, you can usually find a 3-way moneyline in soccer and hockey. The frequency of events ending in draws is much higher in these sports compared to the others. That’s why three-way betting is mostly associated with these two sports. In case of a hockey event, for example, an NHL match,  a 3-way moneyline is available only for the regular time of the game; therefore, overtime is not included. Be aware of this fact before placing a wager since any misunderstanding can result in losses.

A three-way bet can be placed on a basketball match as well; however, the odds on a draw will be significantly higher than the ones compared to soccer games. For this type of bet, the score after regular time is considered as the valid one, since a tie is not possible in overtime.

Examples for a 3-way moneyline bet

To see how three-way moneyline works in action, we can pick a soccer match as an example. To make it clearer for you, we will go through cases of winning and losing bet.

A winning example of 3-way moneyline

Let’s take a World Cup match between Germany and Argentina as an example. Most of the time, a 3-way bet relates to the score after regular time, not including overtime or penalty shootout. For this purpose, we are going to stick to the same principle.

TeamOdds
Germany+135
Draw+250
Argentina+225

You predicted a tight clash and placed a $100 bet on a draw. The regular time ended in a goalless draw, and the match went into the extra time. The result after 90 minutes of the game is the valid one for your bet, meaning that you have landed a $250 profit. You can relax and enjoy the rest of the game.

Losing example of 3-way moneyline

Take the same case into consideration. You have backed Germany with a $100 bet, and you are expecting a profit of $135. After a goalless draw in the regular time, Germany managed to score before a penalty shootout to claim the World Cup title. Although Germany celebrated at the end of the game, your bet is a losing one since they haven’t been able to deliver a win into the regulation time of the match.

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3-way moneyline for beginners: How to bet

Every start of a new journey is challenging, and this one is no different. However, you need to know that some tips can help you have a successful kick-off. Always have them in mind before dipping into the sports betting waters.

  • Moneylines are suitable for rookie bettors: They are easy to understand and pretty straightforward. You shouldn’t get overwhelmed with advanced betting types or strategies, at least not at the beginning of your wagering experience.
  • Team’s record matters: It is easy to identify favorites in the fixture just by reading the odds, but if an underdog is in a good run, you may want to avoid it or reconsider your choice
  • Use professional tips: Tipsters are gathering different information about particular matches and provide picks upon them. You don’t need to roam a lot to find them, just sign up to Billy’s List and you’ll have them at your fingertips
  • Special attention to derby matches: In these clashes, the form does not play such a significant role, but more often, these are games of the moment. Not only are the points on the stake, but also the pride of the club and fans.
  • The importance of the venue: Some teams can play particularly well at specific venues, despite the odds say they are the underdogs.

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3-way moneyline for professionals: How to bet

Three-way bets are very convenient not only to the beginners but the professional bettors too. They are representing the essence and the basics of sports wagering. Therefore, many strategies have been built upon them.

The main advantage of moneyline wagers is the low number of possible outcomes. They are just about who will win the game or if it will end in a tie. Of course, it is not that simple, as you need to take into consideration several factors before deciding to place a wager.

This betting type may result in significant profits in the long term if you stick to a couple of principles. Someone might think that backing a favorite will result in quick winnings. However, the odds on huge favorites are low, and you would need to build up a long winning streak to make this approach profitable.

Professionals often use implied probability when choosing their pick. Based on the given odds by the bookie, you can calculate the probability of the wager you want to place. On the other hand, you can make your estimated percentages and compare them to the ones given by the bookmaker. If your expected percentage exceeds the one provided by the sportsbook, there’s your value bet!

3-way moneyline: Try it now at one of the top 5 betting sites

We have covered the main characteristics of a 3-way bet, meaning that now you are ready for converting this knowledge into your betting experience. Find the best odds easily and pick the event that fits you the most. Register an online account at your favorite bookie and place your first 3-way moneyline wager!

 
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Conclusion: Highly represented method in sports betting
Three-way moneylines represent the essence of sports betting. They are an integral part of various betting strategies and applicable to different sports. Bettors can find great value in these wagers, which makes them more attractive. Newbies in sports betting can also use this kind of bet for building up their experience and getting more familiar with wagering. Thanks to all information from this article, you can start your betting adventure with three-way betting.
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