As the name suggests, a 3-way bet is a bet that is placed on three outcomes of an event. It can be used in any sport or betting market where there are three possible results for that particular outcome. The most common use of this type of bet is in football betting where you have to pick one team from two other teams as well as choosing which result you think will occur.
What is a 3-Way Bet?
A 3-way bet is a type of bet that involves picking one out of three possible outcomes for an event. The most common use for this type of bet is in football betting, where you have to pick which team will win, who will draw and which team will lose.
So if we take Team A vs Team B, then it’s possible to place bets on the following results:
Team A to win the match (1x) Team B to win the match (2x) Draw between both teams (X)
In this sense, 3-way betting can also be considered a form of either Asian Handicap or Over/Under wagering. When you are choosing to bet on the outcome of a game, you will typically find that there is only one market offered for that match. However, with 3-way betting you are actually placing three different bets at once so it can be seen as more convenient and simpler than having to select from two separate markets because it combines all three outcomes into one single bet. It’s also possible to choose any combination of outcomes to place your bets on and these would then generate returns based upon how many correct selections you have made. For example, if we wanted to place a $100 (-110) bet on two outcomes only, then that would be:
Team A to win the match (-130) Team B to draw the match (+330)
That would mean if we chose correctly on both of those matches, we would get a return of $406.84 ($306.84 in profit plus our original stake back). However, there are also other ways you can use 3-way betting as well, such as betting on all three results or even more combinations of bets that can generate different odds for each outcome depending upon how many selections you have made and what your resulting odds look like. These types of bets are called Multiple bets and it is not uncommon to find bookmakers offering these type of wagers at higher odds than those offered by a standard accumulator bet.
The most common way to place a 3-way bet is through betting exchanges online, and this method allows you to choose which markets you want to put your wager on. For instance, if we take the above example with the match between Team A and Team B where we are predicting that Team A will win (1x) and draw (X) but believe that Team B will lose (2x), then using a friendly exchange site like Betfair would allow us to set up our own market for these two outcomes as follows:
Team A Win/Draw at 1.43 (-230) Team A Lose/Draw at 7.4 (+640) Team B Lose/Draw at 6.3 (+530) Team B Win/Draw at 2.8 (-170)
As you can see, it’s possible to combine these markets so that if we think that a certain team will win or draw the match (1x), then we would put a bet on at odds of 1.43 (-230), meaning for every $100 we have invested we would get $143 back (~$36 profit). However, you can also choose to create your own markets with combinations of different outcomes and give yourself more options to place bets by creating your own market using these same teams. For instance, you could also make this bet: Team A Win/Lose/Draw at 3.55 (+255) as well as picking out other combinations between the two teams.
The main advantage of 3-way betting is that it allows you to place bets on multiple outcomes without having to wager on all three at once, which can be seen as advantageous because it gives you more control over your bets and is typically offered by bookmakers that have a large variety of markets available in most sports. However, if you do decide to enter one of these types of bets then it’s always worth checking the odds for each selection because some bookmakers will not allow more than one selection from their bet slip. In other words, if we choose Team A Win/Draw (1x) and Team A Lose/Draw (X), then some sites would only offer us a payout based upon the first outcome which would be incorrect. So, it’s always worth sorting out the odds for each selection to ensure you are getting the best value for your bets before placing them and then winning some serious cash!
How to Place a 3-Way Bet?
When placing a 3-way bet, it is important to understand how the odds and payouts are calculated. Each outcome has its own set of odds that can vary between bookmakers and depending on the market you are betting in. If you want to place a successful 3-Way Bet, it is important to do your research so that you know what sort of odds each outcome will offer when you make your picks.
One way of successfully placing a 3-Way Bet is by using a betting calculator. These calculators are available for free on many websites and will help you to quickly compare the odds for each outcome across different bookmakers, making it easier to find the best value bets. You can also use betting apps on your phone or visit different bookmaker sites directly to quickly see which markets have the best value and then place your bet with confidence knowing that your chances of winning are maximised
Whichever method you choose, remember to keep in mind any promotions offered by the bookmakers in order to take advantage of any incentives they may be offering such as cash back offers or free bets when you place a particular type of bet.
To summarize, if you want to place a successful 3-Way Bet, it is important to do your research and comparison between different bookmakers in order to find the best value odds. You can also use betting calculators or apps on your phone to help you make your picks more quickly and easily. Finally, remember to take advantage of any promotions offered by bookmakers in order to maximise your winning potential.