What is 3-way betting in Basketball?

What is 3 way betting in Basketball?

The basics of online gambling begin with the moneyline bet. This is a bet where the player can bet on only two outcomes. Whether Team A or Team B will win the match. However, a lot of sports include a tie in their possible outcomes. That’s where 3-way betting comes into play. When it comes to bitcoin sports betting, this bet type is one of the simplest out there. Below, we are going to answer the question – What is 3-way betting in basketball?

How does it work?

For many bettors, placing a moneyline wager is the simplest way to make a bet. This type of wager is as straightforward as they come, asking bettors to determine the straight-up winner of a game or match. Certain sports provide an additional option beyond the classic two-way moneyline. Three-way moneylines also allow sports bettors to bet either one of the two sides, but they provide an additional option by allowing bettors to put their money on the likelihood of the event ending in a tie.

Whereas a typical moneyline bet involves a bet on one of two options, three-way moneyline betting involves three options. When wagering on a three-way moneyline, you can bet either Team A to win, Team B to win, or for the event to end in a tie (sometimes referred to as a ‘draw’). Naturally, three-way moneylines come into play for sports where the result may end in a tie and, as such, a winner cannot be determined through regular game time. Because it is harder to accurately predict an outcome with three choices rather than two, betting on a three-way moneyline will offer more value to bettors than a traditional moneyline.

Oddsmakers primarily employ three-way moneyline bets in two sports, hockey and soccer. However, in some cases, this bet type can be used for basketball as well.

What is 3-way betting in Basketball
3-way betting in Basketball

What is 3-way Betting in Basketball?

As we know, 3-way betting is not possible in the NBA or any of the other US based basketball competitions. The reason is simple, there is no tie outcome in these tournaments. However, there is a way to put 3-way betting to use in basketball games. Some regular season FIBA tournaments allow draws as a possible outcome. Usually, a win gets the team 2 points and the team that loses gets 0. In such cases, when the game finishes in a draw, both teams get 1 point.

Additionally, 3-way betting is possible during the group stages of international tournaments. This includes World Cups, European Cups, Olympics, etc. In those tournaments, games can end in a draw during the group stages. A lot of time those draws determine which nation will go through to the next phase of the tournament. All of this shows that 3-way betting is possible for basketball events. However, this is rare and there are much better betting options out there. For instance, totals betting, handicap betting, moneyline, etc. The best way to utilize a 3-way bet is with soccer or ice-hockey events.