Standard moneyline betting gives you two choices: Team A wins or Team B wins. In sports where a draw is a legitimate outcome, that binary does not tell the whole story. A 3-way moneyline adds a third option, the tie, and prices all three outcomes separately. If you pick the winner and the game ends in a draw, you lose. It is a harder bet to win than a standard moneyline, but when you read the market correctly, the pricing can offer genuine value that two-way lines do not. Here is everything you need to understand before placing one.
3-Way Moneyline Explained
A 3-way moneyline is a wager on one of three possible outcomes in a sporting event: Team A wins, Team B wins, or the match ends in a draw after regulation. Unlike a standard two-way moneyline where a tie typically results in a push and your stake is returned, a 3-way moneyline treats the draw as its own distinct outcome. If the game ends level and you did not bet the draw, your bet loses outright. The format is most common in soccer, where draws occur frequently, and in NHL hockey, where 3-way lines cover regulation play only before overtime and shootout results apply. It also appears in some rugby, Australian rules football, and international cricket markets at select books. For bettors who want to go deeper into the full range of bet types available, the betting guides on this site cover the foundational frameworks in detail.
How Odds Are Calculated for a 3-Way Moneyline Bet
Sportsbooks price 3-way moneylines by estimating the probability of each of the three outcomes and then applying their margin across all three. The sum of the implied probabilities across all three outcomes will exceed 100 percent, with the excess representing the book’s vig. In a typical Premier League match between two evenly matched teams, you might see each outcome priced somewhere between +130 and +220, with the draw usually sitting in the +200 to +240 range reflecting its historical frequency of roughly 25 to 30 percent in soccer.
The draw is systematically underbet by the public, which means it is often overpriced by the book relative to its true probability. Books know recreational bettors rarely want to root for a scoreless tie, so they shade draw lines slightly in their favor. Sharp bettors who track draw probabilities in specific leagues and matchup types have exploited this tendency for years.
Examples of 3-Way Moneylines
A standard 3-way moneyline listing for a competitive match between two evenly matched teams might look like this:
- Team A to win: +165
- Draw: +215
- Team B to win: +170
All three implied probabilities sum to more than 100 percent, with the excess representing the book’s margin. If Team A wins, Team A bettors collect. If Team B wins, Team B bettors collect. If the match ends level, only the draw bettors collect. Everyone else loses their stake with no push.
How Does a 3-Way Moneyline Work in Hockey?
In NHL betting, a 3-way moneyline covers the result at the end of regulation only, before overtime or shootout. This is an important distinction from the standard NHL moneyline, which is settled on the final result including any extra periods.
- Game: Maple Leafs vs. Bruins
- Maple Leafs regulation win: +140
- Draw after 60 minutes (tie): +230
- Bruins regulation win: +155
If the game is tied at the end of regulation and goes to overtime, the draw bet wins. If either team wins in regulation, the corresponding team bet wins. A bettor who picked the Maple Leafs to win and the game goes to a shootout with Boston winning loses their bet under the 3-way structure, even though they might have won had they bet the standard moneyline. This regulation-only framing is the most important feature of NHL 3-way betting and the one that trips up the most new bettors.
How Does a 3-Way Moneyline Work in Soccer?
Soccer is the natural home of the 3-way moneyline because draws happen in roughly one in four matches across major leagues. The full 90 minutes plus stoppage time determine the result, and if the score is level at the final whistle, the draw result stands regardless of what happens in extra time during knockout competitions.
- Game: Chelsea vs. Arsenal, Premier League
- Chelsea to win: +195
- Draw: +210
- Arsenal to win: +155
If Arsenal wins 2-1, Arsenal bettors collect at +155. If Chelsea wins 1-0, Chelsea bettors collect at +195. If the game ends 1-1, only draw bettors collect at +210. A bettor who picked Arsenal and the game ends level leaves with nothing, even though Arsenal did not lose. This all-or-nothing structure on the draw is what makes soccer 3-way betting both higher risk and higher potential reward than a standard draw-no-bet wager.
Advantages and Disadvantages of 3-Way Betting
Advantages:
- Higher potential payouts than two-way moneylines because all three outcomes are priced at longer odds.
- The draw market is frequently mispriced by the public, creating genuine value opportunities for bettors who track draw frequencies.
- More betting options on the same game, including the ability to take a position specifically on the draw without being locked into a winner.
- Better suited to low-scoring sports like soccer where draws are a legitimate and frequent outcome rather than a statistical anomaly.
- Opens the door to parlay combinations that include draw legs alongside other prop bet markets for the same match.
Disadvantages:
- No push protection on a draw. A tie loses your bet entirely rather than returning your stake as it would on a standard two-way line.
- More outcomes to be wrong about. You can correctly identify the favorite and still lose if the game finishes level.
- The draw’s implied probability is sometimes overstated by books, particularly in markets where they know recreational bettors avoid it.
- In hockey, the regulation-only framing requires careful attention to avoid confusion with the standard moneyline that includes overtime.
3-Way Moneyline Betting Strategy Tips for Beginners
1. Start with soccer, where draws are a structural feature of the market.
The Premier League, La Liga, Serie A, and Bundesliga all produce draws at a frequency of 23 to 28 percent per season. That predictable base rate gives you historical data to work from when assessing whether a specific matchup is likely to end level. Start tracking draw rates for specific teams and matchup types before placing 3-way bets, and focus on leagues where you have enough context to form a view on draw probability.
2. In NHL, always confirm whether you are on the standard or 3-way line before placing.
The standard NHL moneyline and the 3-way NHL moneyline look similar on the surface but settle very differently. Check the bet slip and the market label carefully. If overtime matters to your read on the game, the standard moneyline is almost always the better vehicle. The 3-way structure is most useful when you have a specific view that the game will be decided in regulation.
3. Use the draw as a standalone value play when form and matchup support a competitive, tight game.
The draw is not just a hedge. In the right matchup, it is the best bet on the board. Two defensively organized teams with similar form, meeting in a match with low stakes and no clear directional pressure, are legitimate draw candidates. When the analytical case for a draw is strong and the book is pricing it above +200, the implied probability at that price is often lower than the historical frequency for similar matchups.
4. Compare the 3-way implied probabilities to your own estimate before committing.
Convert all three 3-way prices to implied probability and check whether the sum makes sense relative to your read on the game. If your analysis puts the draw probability at 30 percent but the book is pricing it at 22 percent implied, that gap is potentially actionable. If your analysis and the book’s pricing are roughly aligned, there is no meaningful edge and a pass is the right call.
FAQs
A draw-no-bet wager refunds your stake if the match ends level, effectively removing the draw as a possible losing outcome. A 3-way moneyline offers the draw as one of three distinct betting options, meaning a draw result loses your stake if you did not bet it rather than returning it.
No. Unlike a standard two-way moneyline where a tie typically results in a push, the 3-way moneyline treats the draw as its own result. If the game ends level and you did not bet the draw, your bet loses outright with no stake returned.
In hockey, the 3-way moneyline covers regulation only and does not include overtime or shootout. In soccer, it covers the full 90 minutes plus stoppage time, and any extra time played in knockout competitions does not affect the 3-way result.
Is a 3-Way Moneyline Worth Your Time?
Yes, but only when you have a genuine reason to take a position on a specific outcome, including the draw, rather than just wanting action on a game. The 3-way structure is a better bet than a standard moneyline in markets where draws are frequent, the pricing on the draw is favorable relative to its historical probability, or you have a specific read that the game will be decided in regulation rather than extended play.
Where it fails bettors is when it is used as a shortcut to access a match without doing the work of figuring out which of the three outcomes actually makes sense to bet. Taking a team to win in a 3-way market without accounting for the draw removes your push protection for no analytical reason. The 3-way moneyline is a more precise instrument than a two-way line. It rewards bettors who treat it that way and punishes those who treat it casually.
