Even if you are brand-new to the pastime of sports betting, you have probably heard of (and perhaps even engaged in) the moneyline wager. It is a simple wager that challenges you to predict the outcome of a particular game. You would win your wager, for instance, if the New England Patriots defeated the Miami Dolphins as predicted in the NFL. Just like that.
However, some sports other than American football provide a third alternative, the potential of a tie, to award more options than just another two-way choice. These three-way moneylines may be found in various sports, e.g., hockey and football (soccer).
More information on three-way moneyline bets is provided in this text. In this manner, you are to be better equipped for sports betting.
Three-Way Moneyline Bets: What Are They?
Picking the winning team is a regular moneyline wager requirement. Choosing one of the two teams as the winner OR whether the game will result in a tie or draw is required for a three-way moneyline. Therefore, if you are placing a wager on a sport that does not have ties, such as NBA or college basketball, you would typically choose between Team 1 and Team 2 to emerge victorious. You would have the choice to select Team 1, Team 2, or a tie, which some bookmakers refer to as a draw, in sports where a tie is conceivable, most frequently soccer.
Soccer is typically used as an illustration of a sport where games can result in ties. A lot of bookmakers also let you wager on the outcome after regulation time, even though other popular sports and leagues (like MLB and the NHL) might not have matchups that end in ties. Again, you have three options to choose from: Team 1 to win, Team 2 to win, or a draw.
What Does an American Football Three-Way Moneyline Bet Entail?
In terms of NFL betting, ties can occur at the conclusion of overtime in both preseason and regular season games. The overtime regulations alter slightly in the postseason due to the fact that NFL playoff games cannot end in ties. In an effort to cut down on injuries, the NFL reduced overtime for preseason and regular season games from 15 to 10 minutes before the 2017 campaign. Under the current rules, just seven games have finished in a tie after overtime over this time span (2017–present).
Here is an illustration of a potential three-way moneyline wager that is available at most sportsbooks if you opt to wager on a draw throughout the preseason and regular season if you are betting on the New England Patriots:
- New England Patriots -450
- Draw +6500
- Green Bay Packers +380
As you can see, the Patriots are favorites at -450 moneyline odds, meaning a wager of $450 on New England may result in a profit of $100. Given that the Packers are underdogs at +380 odds, a $100 wager might result in a profit of $380 if Green Bay triumphs. Finally, a draw, which is indicated as +6500, signifies that if the preseason or regular season game is tied, a $100 wager can net you $6,500.
In preseason and regular season NFL games, a draw has a huge potential payoff, but the likelihood of it occurring is small to none. American football’s three-way moneylines are therefore less profitable than those for sports like hockey and soccer.
What Does a Soccer Three-Way Moneyline Bet Entail?
While regulations may differ from bookmaker to bookmaker, it is typical for a soccer match’s result to be settled after full-time. Complete-time demands the full 90 minutes and certain time needed due to injuries, substitutions, or other factors, in case you are new to the sport. After that period of time is up, the result will either be a winner or a tie.
When placing a bet on a three-way soccer moneyline, the team you select must win the match handily in order for your gamble to be successful. You will support a draw if you choose to place a wager on it.
An illustration of a possible soccer three-way moneyline is (and you could find it on FIFA World Cup betting sites) as follows:
- Spain +125
- Draw +225
- Germany +240
As you can see, the odds are presented in a way that is similar to how they would be for a conventional moneyline. Given it ended in a draw, a $100 wager returned $225 in profit at +225 odds. You can bet any amount you want, and the payouts will still be calculated using the +225, of course.
There are various circumstances, such as some tournaments, where soccer matches will not finish in draws. A three-way moneyline option could still be available to you. However, in that scenario, the wager will only take into account the outcomes from the full-time period and exclude any overtime or shootouts.
The game was tied at the end of regulation, and if it was a knockout stage of the World Cup where you had predicted, say, Germany to win, they could potentially have won the shootout. Because Germany did not win until the shootout, though, if the wager you made was on the outcome after regulation, you would lose your money.
What Does a Hockey Three-Way Moneyline Bet Entail?
Even if a sport does not ever complete a game in a tie, many bookies may still enable you to bet on the outcome at the end of regulation, and that typically allows you to wager on the potential of a draw. For instance, NHL wagering implemented an overtime shootout regulation beginning with the 2005–06 campaign. As a result, one of the sides will always prevail. However, a lot of sportsbooks allow you to wager on 60-minute lines or the outcome following 60 minutes of standard play. These bets will resemble three-way moneylines.
If you are placing a two-way conventional moneyline wager on the Boston Bruins in an NHL game, it might look something like this:
- Boston Bruins -200
- New York Rangers +170
Let’s now include the draw possibility with a 60-minute moneyline wager:
- Boston Bruins -125
- Draw +310
- New York Rangers +130
Despite the different odds, the Bruins remain the game’s favorites. However, as you can see, even if the oddsmaker believes a draw to be the least likely result, adding a tie as a potential result changes the odds for both sides. However, this three-way wager is not based on the game’s final result. It will not matter if there are overtime or shootouts because your three-way wager will have been settled after the first three-quarters of regulation play.
As you can see, a three-way moneyline bet on hockey has a greater chance of paying out more. That could be enough to spark your interest in this option and prompt you to place a wager. Just keep in mind to read your sportsbook’s terms and conditions, so you are conscious of how it makes its choices.
What Does a Baseball Three-Way Moneyline Bet Entail?
Another sport without any ties is baseball. Heck, unless a club wins, an MLB match could last 24 innings. Therefore, a three-way moneyline gamble for baseball incorporates the result after nine innings, i.e., before any extra innings, much like in hockey.
Here are some examples of 3-way moneyline odds for a gamble on the Boston Red Sox:
- Boston Red Sox -200
- Tie +400
- New York Yankees +180
What Does a Basketball Three-Way Moneyline Bet Entail?
A basketball game cannot result in a tie, exactly like hockey and baseball. Games that are tied after the regulation goes into overtime in all basketball competitions, including the NBA, WNBA, and men’s and women’s collegiate basketball.
In the NBA, there are 48 minutes of regular time and 5 minutes of overtime. Men’s and women’s college basketball, as well as the WNBA, have a regulation time of 40 minutes and a 5-minute overtime period.
Here is what you could see if you want to place a three-way moneyline wager on the Boston Celtics:
- Boston Celtics -500
- Tie +750
- Oklahoma City Thunder +450
Further Sports That Accept Three-Way Moneyline Bets
Of course, ties can exist in other sports as well. But it is uncommon, much, much less frequent than in football.
It typically is not worth the effort for bookmakers to offer betting odds on draws — either aggregate or at the end of regulation — due to how uncommon those occurrences are in the majority of other sports (like the NFL).
What Tends to happen If You Wager on Another Sport and the Score Is a Tie?
That is a push. Thus, the bookmaker will repay your wager.
The book will cancel any betting on either team winning and refund them all since there was no winner. In a sportsbook’s terms and conditions, you can find additional explanations about pushes.