3 Way Bet
Instead of using a traditional 2 way bet line, a 3 way bet line can be used when betting. This line is handicap betting as we all know it, but instead of just offering you the chance to back on either team to come out on top, you can also bet on the handicap draw. The prizes awarded for 3-Way Box bets are greater than those of 6-Way Box bets, as the odds of matching the correct numbers are higher. For wheel bets, you place a $0.50 or $1.00 stake on every combination of your three chosen numbers. A Wheel bet is considered a 3-Way or 6-Way bet depending on how many combinations of your chosen.
If you are going to bet on football, you are likely to find yourself to deal with three-way bets (3way bets) more often than you would ever imagine.
Three-way bets are common for football's own nature: as every game can often end in three different ways, you will always have three different sides you can bet on. You can bet on the favorite to win, the underdog to win, or for the match to end in a draw.
What is crucial, here, is that you learn to use the 3way bets at your own advantage and understand when placing two different bets on the same match can be the quickest way for you to reach a profit.
3Way Bets: How do they work?
Let's imagine that you want to bet on football and Chelsea is about to play against Arsenal. It's a juicy match, you are going to watch it with some friends and you are thinking about placing a bet to add some fun to the whole evening.
Yet, once you reach your favorite sportsbook, all three possible results have a money line attached to them from the sports book. Let's look at an example:
Chelsea -175
Draw +250
Arsenal +400
In this example, if you want to bet on Chelsea to win you would have to wager $175 to win $100. If you want to bet on Arsenal to win, $100 would win you $400 if they pulled off the upset. And if you have a gut feeling that the match is going to end in a draw, you would get $250 for your $100 wager.
The sports books in this instance have confidence in the favorite to win. A loss will hurt them as they will have to put out four times the initial wager. When looking at these types of money lines you need to take that into consideration.
Ask yourself 'why is the sports book giving such a good price for the underdog?' Usually the reason is simple... there is little chance of the underdog winning. Of course gambling on underdogs is part of what makes sports betting fun because the reward is higher the more risk there is.
How to use 3way bets at your advantage
Although in the previous example it is fairly obvious which team is supposed to win the match, things are not always so clear - and numbers can also hide some opportunities that you should never let go.
So, let's play with numbers a bit and let's imagine a scenario that looks more like:
Chelsea +125
Draw +200
Arsenal +175
Here, the book makers think the game is more likely to end in a draw and both teams are underdogs to win the game. Which side you choose will depend on the research you do, and of course those 'hunches' we all have before making a bet.
What you should always consider, in a 3way bet situation, is that you can also always make a two sided wager betting on both a team to win and for the match to end in a draw. Let's look at the first example again:
Chelsea -175
Draw +250
Arsenal +400
If you want to bet on Chelsea but want to hedge against losing the wager if there is a draw, you could bet $175 to win $100 if they win and bet $100 to win $250 if there is a draw.
If the match ends in a draw, you bet $275 and profited $75. If the match ends with Chelsea winning, you bet $275 and broke even. As long as Arsenal doesn't win, you're guaranteed at worst to push.
Some more things to know before you place your bet
Even if numbers are the 'core' of betting, there are also some more factors to consider/research when making a three way match outcome wager. Hence, before you press the 'bet' button, make sure you know:
3 Way Bet Calculator
- Who the home team is and how they perform at home
- How does the away team perform on the road
- If any of the teams is on a bad or a hot streak
- If any of the teams have injured key players
- How important is the match for both teams (for example, the underdog needs to win the game to make the playoffs while the favorite has already clinched a spot)
- How does the season's schedule affect both teams(are both teams well rested or in the middle of a long road trip? Did any of them recently play any challenging match abroad?)
3-way Betting
If you evaluate and research all of these factors and apply them into which side you are going to wager on, then chances are you'll be adding to your bankroll. Remember, preparation equals success in sports betting.