What is a 3 way bet?

A 3 way bet is a type of bet that allows a bettor to wager on one of three possible outcomes of an event or match. In a 3 way bet, there are three possible outcomes to choose from, typically labeled as "Home", "Away", and "Draw".

This type of bet is commonly used in sports betting, particularly in soccer matches where there is a possibility of a draw. In a soccer match for example, a bettor can wager on the home team to win, the away team to win, or for the match to end in a draw.

Each outcome has its own set of odds, which reflect the likelihood of that particular outcome occurring. The odds for each outcome will typically be displayed as fractional, decimal, or American odds.

A 3 way bet can be an attractive option for bettors who are looking for more options and potentially higher payouts compared to a traditional two-way bet. However, the increased number of outcomes also means that there is a higher level of risk involved in a 3 way bet.