The world of sports betting can be an expansive one and there are so many different types of bets to learn about. If you’re a more experienced bettor, you may be interested in learning more about the more complex types of bets; bets like spread bets, parlays and other types of accumulators. But, you might be curious: what is a 3 way moneyline?
Well, in this review, we plan to answer that question for you. We’re going to explain in detail what a 3 way money line is, and how you can go about placing a 3 way moneyline of your own. We’ll also cover some of the advantages and disadvantages of placing this kind of bet too regularly. Alright, so: what exactly is this betting type?
What is a 3 Way Moneyline? A Full Breakdown of The Bet Type
A 3 way moneyline is a slight variation on your regular outright bet, that simply offers a third betting outcome to the fray. Instead of betting on Team A or Team B to win, a three way moneyline offers a third option to the players: a draw.
In every other way, a three way moneyline operates like your standard straight, or moneyline, bet. You back your chosen option, you bet on it, and you hope for it to go through.
You’ll find most three way moneyline bets have the highest odds on a draw or a tie. This is because that is the most unlikely result, so it often yields the highest potential for profit. You also have to keep in mind that the odds will be distributed across three potential options, so the likelihood of an option going through decreases slightly. You can also read up on the double chance meaning in betting for a similar, alternative bet.
How Do I Place a 3 Way Moneyline Bet?
Now that you have a full understanding of how this betting type works, you may want to place your first three way moneyline bet. As you can imagine, it is not too complicated to place such a wager.
Our brief guide below gives you a full walkthrough on how you can get started with this betting type, and what the most efficient way to place a bet is.
- #1 Choose a sportsbook – First off, you’ll have to sign up to, and pick a sportsbook to place your three way moneyline bet with. There are plenty of great options out there. Some of our recommendations include Bet365, DraftKings, Betway and Fanduel.
When you have picked your sportsbook and completed registration, you can move onto the net step.
- #2 Pick a sport – You’ll have to now choose a sport to place that first three way wager on. We always recommend here that you pick a sport that you are familiar with. Football fan? Then, bet on a football game. It’s always better to place bets on sports you are familiar with, as having knowledge of the game will already give you a leg up. You should never go into a bet completely blind, and just betting on whatever takes your fancy.
- #3 Place your wager – Now, all you have to do is pick one of the three options of the game of your choice. Once you click on your choice, it should pop on your betting slip. On most sportsbooks, your betting slip appears as a slide-up window in the bottom right of the screen. Once this is done, you can just click confirm to set the bonus in motion.
- #4 Your bet is set – Now, your three way moneyline has been placed, so you can sit back, and watch the event you have wagered on.
Remember that you can check your bet slip and alter it up until the game actually begins, so if you want to alter your bet, make sure you do it quickly.
Tips to Having A Successful 3 Way Moneyline Bet
Now that we know the answer to ‘what is a 3 way moneyline bet?’, let’s answer an equally important question. ‘How do I have a successful 3 way moneyline bet?’
For most bettors, there may not be any obvious advantages compared to a classic straight bet. But, the truth is, there are plenty of benefits to betting on a 3 way moneyline, so you just have to make sure you’re playing the game right.
- Look for value – Many sportsbooks will offer boosted odds, or bonuses for certain games, based on the time of year. An example would be the World Cup, you’ll always have plenty of bonuses with the right sportsbook. Make sure you look for these bonuses, and look for the odds that are valuable to play with. It will make all the difference to your potential profits and this is also the case with esports betting sites.
- Take into account any relevant factors – What we mean by this is that you need to account for any circumstances that could affect the game you are betting on. Is the star player on one of the team’s injured? Is a storm scheduled for tomorrow? Does this team have a bad run of losses against the opposition?
Take all these factors into account before you wager on the game. Another factor, directly related to the three way, is this: how evenly matched are the two teams? If they are known for their tight games, maybe betting on a draw is the smart play.
- Manage your bankroll – We always recommend this for every bettor who is starting out. Make sure you start off with a budget, and do everything in your power to stick to that budget. It’s necessary to keep your bankroll in check if you are a regular player. One tip to stick by is don’t bet more than you can afford. Your financial safety is paramount, no matter how fun a bet may be.
- Shop for sportsbooks – What we mean by this, is don’t settle for the first sportsbook you see. Try out multiple different sportsbook, see which one works for you. Some sportsbooks offer plenty of bonuses, others have more competitive odds. There are so many great options out there. Bet365, Fanduel, Sleeper, Betway. All of them offer value in different ways, so make sure to try them all out, and see which one suits your betting habits.
- Bet small and often – We’ve all seen that one game that seems like a sure thing. It can be tempting to go all in, and bet everything you have on that one game. From a strategic purpose, this is one of the worst strategies you can have.
You should always bet smaller, in order to preserve your bankroll. The way you can win big is by looking for high value odds. Bet small, but bet across multiple different games, so you are spreading your bets, and covering any losses you might have.
A 3 Way Moneyline Bet Is A Bet Everyone Can Enjoy
What is a three way moneyline bet? It’s an extremely valuable and fun bet to playthrough, that is what it is. 3 way moneyline bets are some of our favourite bets, because they tick all the boxes. They are simple to understand, they are easy to play through and they offer plenty of value if you feel like a tie is going to take place.
Just make sure you choose the right sportsbook, and you follow our tips above. You’ll have plenty of chances to win big. So, what are you waiting for? Try some 3 way moneylines yourself!
