There are numerous sports betting markets to pick from nowadays, all of which have pros and cons. Some markets suit specific scenarios and circumstances more than others. This is why ensuring that a given market is the best tool to use in a particular situation is important. By learning about the different markets in the sports betting space, you'll set yourself up for long-term success. In this article, we'll be covering the three-way moneyline bet – an excellent sports betting market that lets you expand your winning probabilities.
What is a Three-Way Moneyline?
The three-way moneyline consists of three possibilities. Besides picking the game's winner, you can also bet on a draw. It's a basic betting type yet one of the most popular betting markets.
Three-way moneyline betting mainly applies to sports with a draw outcome, where it is one of the three outcomes a bettor must choose. This type of bet is also known as a 1x2 bet, where you can bet on home to win, away to win or draw. As there are three possible outcomes, this market is harder to accurately predict and, therefore, offers more value than the traditional moneyline bet.
For example, if team X is playing against team Y, you can bet on the following options:
- Team X to win the match
- Team Y to win the match
- Team X and Team Y to end in a draw
There isn’t any possibility of a push in three-way moneyline betting. So, if you bet on team X to win the match and the match ended up in a draw, you wouldn’t receive your money back. As three-way moneyline betting works in sports where ties are extremely common on regular game times, you ‘ll find that bookies only offer moneyline bets in sports like football and hockey.
How to Place a 3-Way Moneyline Bet
As it's one of the most common betting markets, a three-way bet is easy to find in any bookie. You can usually find the odds for this betting type displayed as a default for the match. If you're a newbie in sports betting, follow these steps to successfully place your first three-way bet.
1. Choose an Online Bookie - You can find the recommended bookies and pick one according to your preferences.
2. Sign Up for an Account - Before placing a bet, ensure you have created and funded an online account. An established sportsbook should have a variety of funding options available.
3. Pick a Match - Now comes the exciting part. There are plenty of daily events and it's usually hard to pick the right match. You can visit APWin to help you look for the perfect pick as we always offer the latest football matches for betting.
4. Place Your Bet - Go for the match you've decided to bet on and click on the odds. You'll find the betting slip that's automatically populated. Finally, enter your stake amount and place the bet.
Favourite Sports for Three-Way Moneyline Bets
The best sports to put a three-way bet on are the ones that feature 3-way games. This means that a tie is a possible outcome in the sport. You can find a three-way moneyline in football or hockey, as ending in a draw for these sports occurs more frequently than in other sports. This is why the three-way bets are mostly associated with these sports.
During a hockey event such as an NHL match, a three-way moneyline bet is only available in the game's regular time, so the overtime doesn't count. Remember to be aware of these conditions before you place any bet, as any misunderstandings may lead to some big losses.
For football, as it’s a low-scoring sport, ties are extremely common and three-way moneyline betting is one of the most popular ways to bet on the sport. Three-way moneyline betting in football may seem complicated for newbies, but betting on a draw is like picking a specific side. The difference is that you’re betting on neither team to win, and you’ll win your reward based on that prediction.
So, when you bet on a draw, none of the teams is supposed to win the match. Therefore, you should bet on a draw when both sides are low-scoring or evenly matched teams against each other. Scores such as 0-0, 2-2, 4-4 are enough for you to win the bet if you’ve chosen the draw outcome.
A Three-way bet is also possible in basketball, but the odds for a draw are much higher than the ones you can find in a football game. For this betting type, the score after the regular time is valid as a draw isn't possible during overtime.
Examples of a Three-Way Moneyline Bet
As an example, let's look at how a three-way moneyline works in a football match. We will look at both winning and losing bets.
A Winning Example
A three-way bet mainly relates to the score after the regular time ended, which doesn't include overtime or penalties. Due to this purpose, we'll stick to the same principle. Take a World Cup match between Spain and Brazil as an example.
Brazil, Odds: 2.35
Draw, Odds: 3.5
Spain, Odds: 3.25
Based on the team's past performances, you think it's an even match and placed $100 for a draw. The regular time ended in a draw, and the game proceeded into extra time. After 90 minutes of the match, the result is valid for your bet, which means you have succeeded in winning a $250 profit and you can relax and watch how the game will end.
A Losing Example
Let's take the same case above for this example. You've backed Brazil to win the game, placed a $100 bet, and expected a $135 return. After a full 90 minutes without a goal, Brazil scored during the extra time. Even though Brazil won the semi-final, you've lost the bet as they didn't score a goal during the regulation time of the game.
Three-Way Moneyline Bet - A Beginner's Tips
Starting your journey is always challenging, and this is no exception. However, to get a good head start in three-way betting, there are a few tips you need to know. Remember these points before you dip into the deep sea of sports betting.
The Moneyline Market is Suitable for New Bettors
It's simple and easy to understand. You shouldn't get into the more advanced betting types or strategies until you're comfortable with the easier markets.
Look at the Team's Stats and Past Performances
Anyone can look at the odds and identify the favourites, but what if an underdog is in their best game? You may want to avoid the favourites or reconsider your decision. To make things easier, sign up to APWin and get instant access to the football team's stats, past performances, and future predictions.
Use Expert Tips
Tipsters gather various information regarding specific matches and provide picks upon them.
Check Out the Derby Matches
The form doesn't have much impact during these clashes, but these are usually games of the moment. They are the points at stake and the heart of the clubs and fans.
Importance of the Venue
Some teams' performances depend on the venue they play in. They might play well at specific venues even though the odds label them as the underdogs.
Three-Way Moneyline Betting for Professionals
Three-way betting is convenient for both beginners and professional bettors. This betting type represents the basics and essence of sports betting. Therefore, bettors have developed many strategies built upon three-way moneyline betting.
The low number of possible outcomes is the main benefit of moneyline betting. It's a game about who will win the match or if it will end in a draw. But it is not that simple, as you need to consider several things before placing a bet.
This betting type has the potential to give you massive profits in the long term if you stick to the correct principles. Some bettors may think that backing a favourite will result in some quick profits. The truth is, the odds for the huge favourites are low, and you'll need to build a long winning streak to make some decent winnings with this approach.
Expert bettors usually use implied probability when choosing their bets. Based on the bookies' given odds, you can calculate the chances of the bet that you want to take. On the other hand, you can create your estimated percentages and see how they compare with the ones given by the bookie. If your expected probabilities exceed the percentage provided by the bookie, you've got yourself a value bet.
Conclusion
The three-way moneyline represents the fundamentals of sports betting. It is an integral part of different betting strategies and works with various sports. You can find excellent value in these bets, making them even more desirable.
New bettors can also take advantage of this betting type to build up their experience and become more familiar with betting. With all the information we've given in this article, you can now start your betting journey with three-way betting.
