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What is a Three-Way Bet?

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With more people than ever entering the world of sports betting, there’s no shortage of terms and types of bets that might seem foreign to most. One such type of bet, a three-way bet, is worth knowing about to give you as a bettor one more tool in your arsenal to potentially cash in on.

Let’s take a closer look.

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What is a Three-Way Bet?

The idea of a three-way bet is adding a third option to the typical Money Line bet that offers just two, Team A wins OR Team B wins. With a three-way bet, the sportsbook offers a third option: a tie. If the game/match is even at the end of regulation, a bettor who placed money on the draw/tie would cash their bet.

As a bettor, this option gives you another option, typically at higher odds. The same idea would apply for betting on an Over/Under three-way bet, where the third option would be landing directly on the total # posted at the end of regulation.

What Sports Offer Three-Way Bets?

As far as major sports go, soccer and hockey are where you’re going to find the three-way bet most commonly. Typically, if a team is a big underdog, the option for a draw’s odds will trail slightly behind that of the underdog. Personally, my favorite time to use the three-way bet is during major soccer tournaments when there is group play involved.

In those instances, teams are incentivized to play to a draw, and the odds you can get are typically healthy.

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Whether you’re new to sports betting or a betting pro, our How To Bet and Sports Betting Strategy and Advice pages are for you. You can get started with our 101 section — including How to Bet on Sports â€” or head to more advanced strategy — like 10 Tips to Become a Sharper Sports Bettor â€” to learn more.

Johnny is a featured writer at BettingPros. For more from Johnny, check out his archive and follow him @JohnnyCovers.