What is 3 way moneyline? Sports betting explained
Are you looking to spice up your sports betting? Three-way moneyline betting might be just what you need. This unique wagering option adds an extra layer of excitement to your bets.
Three-way moneyline betting allows you to choose from three possible outcomes: Team A wins, Team B wins, or the game ends in a tie. Unlike standard moneyline bets that only offer two choices, this option gives you more flexibility in your predictions.
You'll often see three-way moneyline bets in sports where ties are possible, like soccer or hockey. It's a great way to test your sports knowledge and potentially increase your chances of winning.
Understanding Moneylines
Moneylines are a key part of sports betting. They show which team is favoured to win and how much you can win on each bet.
Definition of Moneyline
A moneyline is a type of bet where you pick which team will win a game. It doesn't matter how many points they win. You just need to choose the winner.
Moneyline bets are easy to place. You simply pick Team A or Team B to win. The payout depends on which team you choose and their odds of winning.
This betting option is popular in many sports. You can find moneylines for baseball, hockey, soccer, and more.
Moneyline Odds
Moneyline odds tell you how much you can win on a bet. They also show which team is the favourite and which is the underdog.
In American odds format, you'll see numbers like +150 or -200. A plus sign means that team is the underdog. A minus sign means they're the favourite.
The number tells you how much you can win on a $100 bet. For +150, you'd win $150 on a $100 bet. For -200, you'd need to bet $200 to win $100.
Online sportsbooks use these odds. They help you figure out the value of your bet before you place it.
Favourite vs. Underdog
In a moneyline bet, there's always a favourite and an underdog. The favourite is the team more likely to win. The underdog is less likely to win.
Betting on the favourite is safer, but pays less. If you bet on a -200 favourite, you'd only win $50 on a $100 bet.
Betting on the underdog is riskier, but can pay more. A +150 underdog would pay $150 on a $100 bet if they win.
Your choice depends on how much risk you want to take. You can bet a small amount on the underdog for a big payout. Or you can bet more on the favourite for a safer, smaller win.
3-Way Moneyline Explained
A 3-way moneyline offers three betting options instead of two. This type of wager includes the possibility of a tie, giving you more choices when placing your bet.
The Concept of a 3-Way Moneyline
In a 3-way moneyline, you can bet on three possible outcomes: Team A wins, Team B wins, or the game ends in a tie. This differs from a traditional moneyline, which only allows you to bet on either team winning.
For example, in a soccer match between Team A and Team B, the 3-way odds might look like this:
Team A: +150
Team B: +200
Tie: +220
You can choose any of these options. If you pick the correct outcome, you win your bet.
Overtime and 3-Way Moneyline
It's important to note that 3-way moneyline bets typically only apply to the result at the end of regular time. This means that if a game goes into overtime, your bet is settled based on the score at the end of regulation play.
For instance, if you bet on Team A to win and the game is tied after regular time, you lose your bet even if Team A wins in overtime. This rule makes 3-way moneyline bets different from other types of wagers.
Tie or Draw
The tie or draw option is a key feature of 3-way moneyline wagers. This bet wins if the game ends in a tie after regular time.
Ties are more common in some sports than others. For example:
Soccer: Ties are frequent
Hockey: Ties are possible but less common
Basketball: Ties are rare
The odds for a tie are often higher than for either team winning, reflecting its lower probability. However, this can vary based on the teams playing and other factors.
Sports That Utilise 3-Way Moneylines
3-way moneylines are common in sports where ties or draws are possible outcomes. Let's look at how they work in different sports and leagues.
Soccer 3-Way Moneyline
Soccer is the most popular sport for 3-way moneyline betting. In soccer matches, you can bet on the home team to win, the away team to win, or a draw. This type of bet is based on the result at the end of regular time, not including extra time or penalties.
For example, a 3-way moneyline for a soccer match might look like this:
Manchester United: +150
Draw: +220
Liverpool: +180
You'd win your bet if you pick the correct outcome. If you bet on Manchester United and they win, you'd get paid at +150 odds.
Hockey and NHL 3-Way Moneylines
NHL games can also use 3-way moneylines. These bets are based on the score after three periods of play. They don't include overtime or shootouts.
A typical NHL 3-way moneyline might be:
Boston Bruins: -130
Tie: +280
Toronto Maple Leafs: +220
If you bet on a tie and the game goes to overtime, you'd lose your bet even if it ends in a tie after OT.
Other Sports and Special Cases
Some other sports that can use 3-way moneylines include:
Baseball: Bets are settled after 9 innings
Boxing: You can bet on either fighter to win or a draw
Golf: Used for head-to-head matchups, including a tie option
In the NFL and NBA, 3-way moneylines are rare because ties are uncommon. However, they might be offered for special events or prop bets.
NASCAR and tennis don't typically use 3-way moneylines due to the nature of their competitions.
Calculating Potential Payouts
Three-way moneyline bets offer three possible outcomes to wager on. Understanding how to calculate payouts helps you make informed betting decisions.
Reading 3-Way Moneyline Odds
Three-way moneyline odds use American odds format. A plus sign (+) shows the potential profit on a $100 bet. A minus sign (-) shows how much you need to bet to win $100.
For example:
Team A: -150
Team B: +250
Draw: +200
To bet on Team A, you'd need to wager $150 to win $100. A $100 bet on Team B would pay $250 profit. A $100 bet on a draw would pay $200 profit.
Implied Probability
Implied probability shows the likelihood of each outcome. To calculate it:
For negative odds: Odds / (Odds + 100) x 100 For positive odds: 100 / (Odds + 100) x 100
Using our example:
Team A: 60%
Team B: 28.6%
Draw: 33.3%
These percentages help you judge if the potential payout is worth the risk.
Examples of Potential Payouts
Let's look at some payout calculations for a $50 bet:
Team A (-150): (100 / 150) x $50 = $33.33 profit
Team B (+250): (250 / 100) x $50 = $125 profit
Draw (+200): (200 / 100) x $50 = $100 profit
Remember, these amounts are your profit. You also get your original stake back if you win.
A $50 bet on Team A would return $83.33 total ($33.33 profit + $50 stake).
Comparing 3-Way and 2-Way Moneylines
Three-way and two-way moneylines offer different betting options and payouts. Understanding these differences can help you make smarter wagers and manage your risk.
Differences in Payout and Risk
In a two-way moneyline, you bet on one team to win or lose. A three-way moneyline adds a third option - the tie or draw. This extra choice changes the odds and potential payouts.
Two-way moneylines often have higher payouts for underdogs. The risk is spread between just two outcomes. In three-way bets, the odds are usually lower since there's an extra possibility.
With three-way bets, you have more flexibility. You can bet on a tie if you think neither team will win outright. This can be useful in low-scoring sports like soccer.
Two-way bets are simpler. You only need to pick a winner. Three-way bets require more analysis to decide if a tie is likely.
Sports Betting Strategy
Your betting strategy may change based on the moneyline type. For two-way bets, you might focus more on head-to-head records and team strengths.
With three-way bets, you need to consider factors that could lead to a tie. Look at past results, playing styles, and weather conditions that might affect scoring.
Parlays work differently too. Two-way moneylines are easier to include in parlays. Three-way bets add complexity and risk to multi-game wagers.
The vig or juice can vary between two-way and three-way bets. Three-way bets often have lower vig since the risk is spread across more outcomes.
Pay attention to how sportsbooks set their lines. Some may offer better value on two-way bets, while others might have favourable three-way odds.
Placing Your 3-Way Moneyline Bets
To place 3-way moneyline bets, you need to choose a good sportsbook, understand the rules, and use smart betting strategies. These steps will help you make informed wagers on three possible outcomes.
Selecting the Right Online Sportsbooks
When picking an online sportsbook for 3-way moneyline bets, look at popular options like DraftKings, FanDuel, Bet365, and Caesars. Compare their odds and bonuses. Check if they offer bets on sports with ties, such as soccer or hockey.
Make sure the site is legal in your area. Read reviews from other bettors. Look for sites with user-friendly apps and quick payouts.
Good sportsbooks will have clear 3-way moneyline options. They should show odds for both teams to win and for a tie.
Understanding the Betting Sites' Rules
Each sportsbook has its own rules for 3-way moneyline bets. Read these rules before you bet. They tell you how the site handles different situations.
For example, learn what happens if a game is cancelled. Find out how overtime affects your bet. Some sites may void bets if a game goes to extra time.
Check the minimum and maximum bet amounts. Look for any special rules about parlays or cash-outs with 3-way bets.
If you're not sure about a rule, ask customer support. It's better to know before you place your bet.
Keys to Successful 3-Way Moneyline Betting
3-way moneyline bets need a good strategy. Start by researching the teams or players. Look at their recent form and head-to-head records.
Pay attention to factors that might lead to a tie. In soccer, for example, two defensive teams might be more likely to draw.
Compare odds across different sportsbooks. Even small differences can add up over time.
Set a budget and stick to it. Don't chase losses with bigger bets.
Try to find value bets where you think the odds are in your favour. Sometimes, betting on a tie can offer good value if you think it's more likely than the odds suggest.
Beyond Regular Time
Three-way moneyline bets focus on the outcome at the end of regulation time. But some sports have additional ways to determine a winner if the score is tied.
The Impact of Shootouts and Extra Time
In soccer, games that end in a tie after 90 minutes may go to extra time or a shootout. These extra periods don't affect three-way moneyline bets. Your wager is settled based on the score at the end of regular time.
For hockey, the same principle applies. If a game is tied after three periods, the overtime or shootout result doesn't matter for your three-way moneyline bet. The "tie" option wins in this case.
How 3-Way Moneyline Is Affected
Three-way moneyline bets are only concerned with the result at the final whistle of regulation time. If you bet on a team to win and the game goes to extra time, your bet loses. The tie option wins instead.
This rule can create interesting betting opportunities. You might find value in picking the tie if you think two evenly matched teams will remain deadlocked through regulation. Any events after regular time don't change the outcome of your three-way moneyline wager.
Frequently Asked Questions
Three-way moneyline betting offers more options than standard moneyline wagers. It includes the possibility of a tie or draw in addition to wins for either team. Let's look at how this works in different sports.
How does a 3-way moneyline differ from a traditional moneyline bet?
A 3-way moneyline has three possible outcomes instead of two. You can bet on either team to win or on a tie. Traditional moneylines only let you pick a winner between two teams.
This extra option changes the odds and payouts. It also affects how you approach your betting strategy.
Can you explain the rules of a 3-way moneyline bet in NFL games?
NFL games don't usually use 3-way moneylines. These bets are more common in sports that can end in ties, like soccer.
If an NFL game did offer a 3-way moneyline, it would likely only count the score at the end of regulation time. Overtime wouldn't be included.
What does a 3-way moneyline bet mean in soccer wagering?
In soccer, 3-way moneylines are very common. You can bet on the home team to win, the away team to win, or a draw.
These bets are based on the result after 90 minutes of play plus injury time. Extra time and penalty shootouts don't count.
Does the 3-way moneyline result include overtime or shootouts in hockey betting?
3-way moneyline bets in hockey usually only count the score at the end of regulation time. Overtime and shootouts don't affect the result.
If you bet on a team to win and the game goes to overtime, your bet loses even if that team wins later.
In NBA betting, how does the 3-way moneyline work compared to point spread betting?
The NBA doesn't use 3-way moneylines. NBA games can't end in ties, so there are only two possible outcomes.
Point spread betting is more common in the NBA. It gives one team a handicap to even out the odds.
How do sportsbooks like Fanduel present their 3-way moneyline betting options?
Sportsbooks like Fanduel show 3-way moneylines with three separate odds. You'll see options for each team to win and for a tie.
The odds are usually displayed as positive or negative numbers. Positive numbers show how much you'd win on a $100 bet. Meanwhile, negative numbers show how much you need to bet to win $100.
