How does a 3 way bet work? Your Comprehensive Guide to This Unique Wagering Option
As an avid sports bettor and analytics geek, I‘ve become fascinated by the strategic opportunities that 3 way betting provides. I‘m excited to give you an extensive look at how this unique form of wagering works!
Let‘s start with the basics – a three-way bet allows you to wager on three potential outcomes on a sporting event: Team A wins, Team B wins, or the game ends in a Tie/Draw. This opens up a world of betting possibilities compared to the standard two team moneyline.
To understand this style of wagering, it helps to know its origins. Three-way betting lines became popular in soccer/football in the 1800s. With draws being common in the sport, bookmakers added a “tie” option to allow betting on either side or the draw.
The concept expanded to other sports like hockey and baseball where ties were in play. Over time, it emerged as a staple betting line across the world‘s sportsbooks.
Nowadays, American sportsbooks utilize 3 way lines in certain situations to give bettors expanded options. The added strategy and payout potential has made it a fixture in global betting markets.
The intrigue of 3 way betting comes from the third “draw” wager and how it affects the other odds. To demonstrate, let’s compare typical 2 way and 3 way moneyline odds:
| Bet Type | Team A Odds | Draw Odds | Team B Odds |
|---|---|---|---|
| 2 Way Moneyline | -120 | N/A | +130 |
| 3 Way Moneyline | -150 | +215 | +180 |
See how Team A goes from -120 to -150 when the draw is introduced. At the same time, the underdog Team B goes from +130 to +180 with the extra option.
The draw odds themselves tend to be better than either side – here having +215 value compared to -150 and +180.
This dynamic arises because the sportsbook has to account for an additional way to lose. The draw option lifts the payouts across the board.
Let‘s analyze the percentages to appreciate just how heavily the draw alters the math:
- 2 Way: Team A implied probability is 54.5% to win.
- 3 Way: Team A drops to 40% to win with Draw at 31.7% and Team B now 28.3%.
The draw odds pull significant percentage away from the favorites. This equates to overlay opportunities for savvy bettors in 3 way markets.
To leverage 3 way betting, it helps to understand key statistics like historical draw percentages. Here‘s a quick snapshot of how often draws occur across some major sports:
| Sport | Avg. Draw % |
|---|---|
| Soccer/Football | 26% |
| Hockey (NHL) | 20% |
| Baseball (MLB) | 7% |
As you can see, draws are most prevalent in low-scoring sports like soccer and hockey. This makes intuitive sense – the fewer goals, the higher likelihood of a deadlock.
American sports see fewer ties, but they still occur. For example, from 2008 to 2018, 7.3% of NFL games ended in a tie. That‘s enough to merit draw odds and enrich the betting landscape.
Now let‘s analyze an example 3 way matchup and resulting bet percentages:
| Matchup | A Win % | Draw % | B Win % |
|---|---|---|---|
| Dynamo Kiev vs Shakhtar | 51% | 27% | 22% |
Based on sports databases, Dynamo Kiev has good value as a favorite at 51% probability vs -120 odds (-455 implied). The generous 27% draw odds of +210 would also offer nice expected value.
Crunching these numbers is key to spotting advantageous 3 way opportunities.
The draw odds give us an added element to capitalize on through smart bet selection. Certain matchups and team dynamics lend themselves to profitable draw betting.
For example, backing the draw makes sense when:
- Two strong defensive teams square off
- Teams with evenly matched talent face each other
- Rivals with incentive to avoid losing meet
- Conditions like weather hamper scoring
The English Premier League provides a perfect case study on how team styles impact draw betting. In the 2020-21 EPL season, low scoring teams West Brom and Brighton drew 59% and 50% respectively.
Conversely, only 24% of high flying Liverpool‘s matches ended level. Analyzing scoring trends this way can uncover "draw-heavy" teams to back.
I‘ll admit, successfully predicting a draw brings a special kind of rush! When two bitter rivals limp to a scoreless tie, you know all that research paid off.
Parlays allow combining multiple bets together for bigger payouts. A three-way parlay works the same way, but with the draw added to the mix of outcomes.
Let‘s walk through an example 3 way parlay:
- Chicago Bulls +120
- Houston Rockets +180
- Los Angeles Lakers vs Miami Heat Draw +200
A $100 wager on this three team combo would pay out $648 if all legs win!
Having that tie option in the NBA game (where draws are exceedingly rare) pumps up the parlay odds. Sportsbooks recognize the low probability and price it accordingly.
Here are some more examples of fun 3 way parlays you could construct:
- Manchester United +110, Liverpool/Everton Draw +290, AC Milan -150
- Tampa Bay Lightning -220, Carolina Hurricanes/Dallas Stars Draw +265, Edmonton Oilers +180
Mixing in a nice draw payout can quickly balloon those parlays up. Just realize that having to nail 3 outcomes means substantial risk – but the rewards justify it!
I‘ll never forget that time I turned $10 into $850 thanks to nailing a 4 team parlay involving two draws at juicy +270 and +300 odds. It was a great sweat!
The tactics and draw percentages vary across sports when it comes to 3 way wagering. Let‘s examine some key differences:
Soccer
- Draws very common, usually +200 to +300 odds
- Bettors often "play the draw" strategically
- Results like 0-0, 1-1 very frequent
- Exciting to predict low scoring draw
Hockey
- NHL games end tied around 20% of the time
- Teams tend to play conservatively near end of tie games
- Backing 0-0, 1-1 draws can offer value
- Must not win in overtime/shootout
Baseball (MLB)
- Draw odds typically +1000 or higher due to rareness
- Weather and pitcher battles can produce ties
- Small bet on big underdog draw odds worth a shot
Basketball (NBA)
- Virtually no draws, but some books offer "Draw No Bet"
- If game tied, Draw No Bet wagers refunded
- Provides insurance for picking favorites
As you can see, the importance of the draw odds fluctuates. Soccer presents the most lucrative draw betting opportunities. Hockey draws have nice payouts but happen less frequently. Baseball draws are golden tickets due to extreme rarity.
Getting a grasp of these dynamics within each sport is crucial to success. The draw odds exist at different extremes across the betting landscape.
Let‘s review some common questions that arise around this unique wagering style:
What happens if a 3 way bet ends in a draw?
If the wager was placed on the Tie/Draw option, it cashes winning tickets. Bets placed on Team A or Team B would lose. “Draw No Bet” wagers get refunded.
How do 3 way betting lines differ from puck lines/run lines?
Puck lines and run lines function similar to a point spread with a built-in margin that must be surpassed. 3 way lines remove points for a straight moneyline style bet with the draw option added.
Can you buy points on a 3 way line?
Yes, buying points to move the line in your favor (ex. -1.5 to -2) is permitted at some sportsbooks. The odds adjust accordingly based on the margin shift.
Is there 3 way betting on player props?
Rarely you may find books offer 3 way lines on props like first goalscorer. This provides an option to bet on "No Goalscorer" as a third outcome. Exciting but not widely available.
What happens if a game gets suspended after I bet?
For incomplete games, the standard is that bets stand if 55 minutes have elapsed. Anything less results in a void and refund. Check your sportsbook rules.
I hope this guide has provided a thorough overview of how 3 way betting operates. If I didn‘t cover a specific question you have, please don‘t hesitate to reach out! I‘m always glad to discuss the strategic nuances of this unique betting style.
While deemed "exotic" in many sports, these 3 way lines have become a betting staple across the world for good reason. The extra wagering option allows us to get creative and expand our advantage.
Next time you come across a sports matchup with 3 way lines offered, I encourage you to explore those draw odds. Getting a feel for when to exploit them takes experience, but the rewards for mastering draw betting are immense.
We‘ve walked through the different sports where 3 way shines, strategies around team styles, the exciting parlay potential, and much more. Now you have the blueprint to take your betting to the next level!
Thanks for letting me share my passion for this fascinating form of wagering. I have no doubt these 3 way lines can enhance your betting experience and win rates if utilized properly. Feel free to reach out anytime – I love delving into the dynamics surrounding this betting anomaly.
Until next time my friend, may all your draws cash!