What is a 3-Way Moneyline Bet? Win, Lose, Or Draw

Moneyline vs 3 Way Moneyline

If you're learning how to bet on sports, it is important to understand the key difference between a traditional moneyline and a three-way moneyline bet.

In sports betting, "two-way moneyline" and "three-way moneyline" refer to the outcome of a specific event, and they represent the odds for different possible results. In a two-way moneyline, you're betting on one of two possible outcomes: either team wins. In a three-way moneyline, you're betting on one of three possible outcomes: either team wins or the game ends in a tie.

As many leagues have changed their rules to avoid games ending in ties, many 3 way moneyline bets

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Most Common Sports to Bet 3 Way Moneylines

Three way moneyline betting is essentially available in some form in every sport. It is by far most popular in sports that commonly have ties as final results compared with other sports that do not.

Soccer

3 way moneyline bets are very common on a soccer match mainly because draws are so common. Essentially all major pro soccer leagues end their regular season at 90 minutes plus stoppage time. Even when a soccer match must determine a winner in overtime or on penalty kicks, 3 way moneyline bets that settle at the end of regulation are still popular.

Take this match between LAFC and the Seattle Sounders that will end in regular time with either a winner or draw.

3️⃣ Three-way moneyline: LAFC -120, Draw +260, Seattle Sounders +300
2️⃣ Two-way moneyline: LAFC -265, Seattle Sounders +205

In the case of a draw, the two way moneyline is a “no bet.”

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Hockey

Even though regular-season NHL games have not been able to end in a tie since 2006, 3 way moneyline bets are still popular. In the current rules, teams tied after 60 minutes play a 3-on-3 sudden-death overtime for 5 minutes, then if there is still no winner, it goes to a shootout. Last season, nearly 23% of games needed more than 60 minutes to decide the winner and 32% of overtime games went to shootouts.

Three-way moneylines can provide hidden value for NHL hockey betting, especially since overtime and shootouts are so unpredictable.

Here's an example of two- vs. three-way moneyline odds in the NHL:

3️⃣ Three-way moneyline: Bruins +120, Golden Knights +175 and Tie +290
2️⃣ Two-way moneyline: Bruins -115 vs. Golden Knights +105

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Boxing

Boxing is another popular Vermont sport that can end in a draw. As such, the sportsbooks see good action in both the two way moneyline and three way moneyline bet markets. The three way moneyline bets are perhaps most appealing in close matchups. Here's an example:

3️⃣ Three-way moneyline: Franco -110, Ioka +100, Draw +1200
2️⃣ Two-way moneyline: Franco -120, Ioka -110

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Less Common Sports to Bet 3 Way Moneylines

Sportsbooks post some form of three way moneylines even in sports and leagues where games can not end in ties or draws. These lines just see far less action than the classic two way moneyline. A college basketball game can not end in a tie for example, but a game can be tied at the end of regulation or at half time of course and there is three way moneyline betting, it is just not as popular.

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Football

NFL games can end in ties, but it's rare. If a regular season game is even at the end of regulation, the teams then play up to 10 minutes of overtime with both teams getting a chance to score. If it is still knotted up, the game ends in a tie. In 2022, only 5.5% of NFL games went into OT. Since 2017, there have only been seven out of 101 overtime games that have ended in ties.

As in other major sports, there may be three way moneyline bets on ties at the end of regulations and also on halftime and end of quarter bets.

Baseball

MLB games can not end in a tie, but as in other sports, there is still three way moneyline betting. However, three-way moneyline betting in MLB is not popular as it is effectively just a prop bet on extra innings.

Incidentally, sportsbooks do list Extra Innings Yes/No props, and I recommend this much simpler bet for anyone wanting to place a 9-inning Draw wager.

Basketball

Basketball games also do not end in ties, and as such two way moneylines get virtually all of the action. Overtimes are not extremely common in the NBA, but they do happen in about 6% of games in a typical season. Most sportsbooks do offer three way moneyline betting options.

As in MLB, it is effectively just adding a “Game will go to overtime” prop, which is also readily available. A Boston Celtics -140 vs LA Lakers +120 two way moneyline might have a three way moneyline with modestly better odds on both teams and a “tie” option in the +1500 range.

Tips to Bet 3 Way Moneylines

It is important to understand the three way line, even for sports bettors only interested in wagering on a two way moneyline.

Remember: No Pushes A typical three way moneyline bet cannot push. That is because it covers every possible outcome. The two-way moneyline can push; the three way moneyline can not. The potential payout is higher on three-way moneyline markets than in two-way moneyline markets covering the same game.
Know Your League The best way to handicap the value of a side in a moneyline bet is make sure to know the probabilities of games ending in regulation time ties or draws in the league in question. Not all matchups within a league are equal.
Understand Overtime Rules Every league handles overtime a little differently, so know the rules as they may impact three way three way moneyline betting. The NFL has tweaked OT rules in recent years to shorten regular-season overtimes to 10 minutes and to grant both teams at least one possession. College football games can not result ties, so three-way moneylines only apply to quarters, halves, or regulation time.

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3 Way Moneyline Vermont FAQs

A three way moneyline is a wager that includes an option to bet on a tie or draw as well as the options to bet on either team winning as in a typical two way line. They are the most popular soccer wagers.

A 3 way moneyline cannot “push.” There are only three possible outcomes. Either of the two teams win, or the game ends in a tie or draw. Thus every possible ending is covered, and you cannot "tie" the sportsbook odds.

Three way moneylines in hockey betting most commonly involve wagering on the outcome at the end of three periods. There are options to bet on either team to win or bet on a draw after three periods. In the season before the NHL implemented the shootout, 14% of games went to OT.

Most players use the traditional moneyline in football to bet on the straight up winner. Books do offer 3 way moneylines however as there is a small probability the game ended in a tie even after the 10 minute overtime period.

A three way moneyline in soccer will offer odds on either team to win, as well as the outcome to be a draw. Draws (or ties) are relatively common in soccer. Across the top 5 European leagues since 2020, games have ended in draws at least 6% of the time.

Author

Adam Warner

@agwarner

Adam Warner is the author of "Options Volatility Trading: Strategies for Profiting from Market Swings" former financial writer for Schaeffers Research, and freelance writer for Minyanville.com and StreetInsight.com. Previously Adam was a Market Maker on the American Stock Exchange and a graduate of Johns Hopkins University.

What is a 3-Way Moneyline? A Comprehensive Guide for Vermont Bettors