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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.

Betting on Live Sports Matches with Sportsbet.io to WIN! Exciting Offers & Huge Bonuses! Besides baseball and hockey, moneylines are used for betting on other sports where a point spread becomes irrelevant, such as auto racing, boxing, soccer, and tennis. While there are margins of victory in some of these, they are so small that it would be impossible to create a point spread for every game.

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.

Read on for a deeper look at which sports offer three-way moneyline betting and how to turn a profit when placing these wagers.

Three-Way Moneylines, Made Simple

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. Unsurprisingly, this is because these two sports are significantly more likely to end in a tie or draw.

The Three-Way Moneyline in Soccer

Wagers in soccer are decided after full-time, which refers to the full 90 minutes on the clock, plus any additional time that is added by the referee for injuries, stoppages, or any other reason. Unlike in the large majority of other sports, ties (“draws” in soccer terms) are extremely common due to the lower-scoring nature of the game.

In fact, draws occur so often in soccer that three-way moneyline betting is the most standard and popular way to bet on a soccer match. However, there are many other ways to bet on soccer as well.

Operationally, betting on the draw is just like betting on a side. However, when betting on the draw, you’re hoping for the score to be tied at the end of full-time. An example of three-way moneyline odds for a soccer match could be as follows:

As you can see, the option of a draw is listed in the same fashion as choosing either team as the outright victor. It is worth noting that regular season matches can always end in a draw, but some tournament-style matches will extend into extra time and possibly into penalties. In these tournaments (where winners are guaranteed thanks to penalty kick shoot-outs), three-way moneyline bets are predicated on a result being determined in the 90 minutes of full-time play. In this case, your bet will be graded as a loss if the side you select to win does so after regular time.

Three-Way Moneyline in Hockey

There are many hockey leagues around the world, but most hockey bettors wager on the National Hockey League (NHL).

Standard, two-way moneyline betting is a popular NHL wager. However, because games are often tied after three periods, most hockey betting sites also offer three-way moneylines on most games.

Two-way moneylines betting on the NHL ask you to pick a side to win outright, even if the game goes to overtime or ends in a shooutout. Whether your team wins after three periods, during overtime or through a shootout, if the team you pick wins—you win.

A standard, two-way moneyline bet looks like this:

To compare the differences, let’s look at three-way moneyline odds for this same game. Remember that the three-way moneyline eliminates overtime from the wager, meaning you’re simply betting on the outcome at the end of three periods.

As you can see below, Vegas is still the favorite. However, in the three-way moneyline option, odds for both Vegas and Vancouver are longer. This means that if you select either team as an outright winner, you’ll see a better return on the three-way moneyline than you would on the two-way moneyline.

The tie is deemed the least likely option, so it offers the longest odds and biggest payout.

So if you’re looking for better value, longer odds, and higher payouts, three-way moneyline betting is the way to go. But remember, if you’re betting on a winner of the game, the bet is toast if they win in overtime or during the shootout. Three-way moneylines aren’t always the safest bet, but they can offer superior value.

Ready to Learn More Betting Terms and Strategies?

Three-way moneyline betting is just one of numerous ways to expand your horizons betting on sports. If you’re looking to learn more about betting terms, strategies and the sports betting industry, be sure to visit our 101 guides to sports betting.

Below are the top rated online sportsbooks in the industry today. Sports Interaction caters to Canadian bettors only and have been in business for decades. They are the most trusted and reputable betting sites with easy depositing and fast withdrawal speeds. They have a long list of deposit methods and withdrawal methods. Payout times are as quick, usually 2-9 days. We recommend this site as being the most trusted, safest, most secure, great bonus offers, best deposit options, and quickest withdraw times on the internet.

To place a bet, click on the link listed below. All of our sports betting lines are updated every day. 18+, T&Cs apply, and Gamble Responsibly (BeGambleAware).

Voted Best Sports Betting Sites

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  huge selection of betting options. Safe and Secure. Canada’s #1 book.

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Betting Lines Explained

This section will show you how to read sports betting lines in the most popular odds formats. There are three ways that sportsbooks on the internet list their odds; called fractional, decimal, and American. Depending on where you live in the world generally determines which type of odds format you’re familiar with. For example, people in the UK are more familiar with fractional odds, while punters from Australia use decimal odds.

The best sportsbooks online give handicappers the ability to view odds in whichever format they prefer, so look for that button whenever you visit one of them. Here’s some info on how to read the different types of lines & odds.

How to Read Fractional Lines & Odds

Fractional betting lines are listed just like we learned in elementary school. 7/2 fractional odds equal 3.5:1. This means that for every $1 bet, you’d win $3.50 more, for a total payout of $4.50 (3.5 x $1 = $3.50 + $1 wager = $4.50).

Bettors get their original wager back, plus the win amount. So if you placed a $100 bet on a team with 5/1 fractional odds, you’d get your $100 back, plus $500 more (5 x $100).

10/1 fractional odds on a $200 bet would pay your original wager of $200, plus $2000 more (10 x $200), for a total payout of $2200.

Decimal Lines & Odds

Decimal odds are viewed as a number with a decimal point, as in 1.85, 3.55, or 5.0. Decimal odds reflect the total return a bettor gets back on a win for every $1 wagered, including the wager amount. So, a 1.85 line means that for every $1 wagered, a bettor would receive a total return of $1.85.

An even-money bet would show decimal odds of 2.0. So, if you place a $1 bet on a team with 2.0 decimal odds, you’ll get back a total of $2; your $1 wager, plus $1 in profit.

A team with 5.5 decimal odds would pay $4.50 in profit, plus your $1 wager, for $5.50 total return.

To calculate a decimal odds payout, multiply the odds times the wager amount. For example; 4.5 decimal odds on a $50 bet would be calculated as follows: 4.5 x $50 = $225 total return.

American Lines & Odds

American lines are displayed as negative (-) and positive (+) odds, and based around the $100 figure. Negative lines indicate the favorite, and positive lines indicate the underdog. Of course $100 wagers are not required, this is just the number used to calculate the odds.

Negative Lines

Negative betting lines indicate the amount of money needed to wager in order to win $100 in profit. So, a -160 means a bettor would need to wager $160 to win $100. A -240 line means they need to wager $240 to win $100.

Positive Lines

Positive lines are just the opposite. Positive lines indicate the profit that can be won from a $100 wager. It does not include the original wager amount. So, a +160 means that a $100 wager would earn a $160 profit plus the $100 wager amount, for a total payout of $260.

A +240 line would pay out $240 in profit on a $100 wager, for a total payout of $340 ($240 profit + $100 wager = $340).

A +420 line would pay out $420 in profit on a $100 wager, for a total payout of $520 ($420 profit + $100 wager = $520).

Even Odds

Even odds are generally displayed as ‘even’, but sometimes you’ll see them listed as +100. Even odds simply means that for every dollar you bet, you can win a dollar in profit. A bet with even odds would pay $100 profit on a $100 wager.

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Money Line Confusion

American odds are often called money lines, but this isn’t exactly accurate. A money line is a type of bet, not a system for calculating odds. The confusion comes from the fact that money line bets use American odds, but there is a difference.

Money lines are bets with no point spread involved – picking straight-up winners regardless of the score. However, American odds are used for more than just money line bets. American odds are used for any type of bet as a way to calculate the odds.

Sportsbooks on the Internet

One sportsbook might be best for NFL football lines, while another might have the best parlay odds, and another might have the easiest deposit options for U.S. bettors. They’re all a bit different, another reason for signing up at multiple sportsbooks or daily fantasy sports betting sites. We rank the best online betting websites based on a number of factors, and our overall favorites are listed below.

Best Online Sportsbooks

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• Sports Interaction: Canadian bettors only. Easy Visa and MasterCard deposits, tons of betting options for all sports, incredible live betting options & interface. Mobile betting available for iPhone, iPad, Blackberry, Android and Windows based phones. They are the most trusted and reputable sportsbook for Canadian bettors.

If you take your sports betting seriously, open accounts at several different sites. Always compare odds and look for the best lines before placing bets. There are benefits that handicappers get by online versus in a live sportsbook. First, it’s easy to compare odds at lot of sports betting sites because they’re only a click away. By comparing odds at a number of sportsbooks on the internet, you can be sure you’re getting the best odds & lowest vig (juice) possible. Slight advantages can be the difference of winning or losing a bet, and the amount you win or lose. In the long run, small advantages can really add up.

Live Betting Sites

Live betting (also called in-play) is quickly growing in popularity. This market continues to grow, with bookmakers adding more games to their live betting calendars. If you’re not familiar with live betting, these are wagers that can be placed while a game or match is happening. If you have a mobile phone, you can even bet on a game while you watch it from the stands.

In NFL football for example, bettors can wager on which player will be next to score, the result of every possession, if player X will record 100+ rushing yards, etc. Essentially, if you can think of it, you can bet on it.

For punters in Canada, Sports Interaction offers 200+ live betting events per day. Day or night, you can wager on a live event!

Promotions & Bonuses Offered

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Most sports betting sites offer special promotions for their customers. This can include free NFL, NBA, or MLB bets, free mobile bets, free parlays, and a variety of other promos.

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For new bettors, most give their players a deposit bonus when they sign up. Sign up bonuses range in percentage and total dollar amount from site to site. Also, some deposit bonuses are much easier to clear than others. At some sportsbooks, players have to wager their deposit amount, plus bonus one time. At other sites, players may have to wager 5-10 times their deposit and bonus amount. The sports betting sites that we recommend typically have very fair bonus requirements.