Cricket betting, like other popular sports, has its own set of jargon, but what exactly do we mean when we discuss the intriguingly named 3-way betting.
Three-way bets are sports wagers with three possible outcomes. Aside from fundamental concepts, we will also discuss what you should consider before placing a 3-way bet and what strategies are appropriate for this type of betting!
Let’s get started
So, What is a 3-way bet?
A 3-way bet is a wager on an event with three possible outcomes:
- Team A winning
- Team B winning
Because there is an additional outcome, the odds on a 3-way bet will always be higher than the odds on a similar two-way bet. As a result, when placing a three-way bet, there is only one way to win and two ways to lose.
How do Three-Way and Two-Way Betting Odds Differ?
Simply put, three-way betting odds provide three wagering options that are solely focused on regulation time results. They differ from two-way odds in that they include a tie as a third betting option. In most competitions where a tie is a possibility, three-way lines are available.
They are available as money line, game total, and point spread wagering options on a variety of sports.
How 3-Way Bets Work?
A 3-way bet is a bet with three possible outcomes. Typically, these outcomes are team A winning, a tie, or team B winning. A 3-way bet is also known as a 12 bet (team 1, draw (x), team 2), but for this article, I will refer to it as 3-way betting, which is the more common term in Canada.
3-way betting is especially popular for games that could end in a tie, such as soccer matches. You will also see 3-way lines available as a regulation time bet for hockey games, as well as many other sports where draws are possible, such as football, boxing, golf head-to-head, and so on.
What to Consider When Placing a 3-way bet?
Because of the name, some new sports bettors mistakenly believe they are placing three bets here. In reality, you’re only interested in one of those three options.
Remember that in sports with three possible outcomes, the odds for each team to win are greater than in sports with only two possible outcomes, such as tennis.
After you’ve decided to place a three-way bet, you’ll need to conduct some research to help you pick a winner. Cricket games are influenced by a variety of factors, including form, head-to-head results between the two sets of opponents on display, and any potential injury absences.
Also, keep in mind that a draw is the third option. Drawn games are becoming less common in test cricket, but what about the weather? While we can’t rely entirely on forecasts, the possibility of rain can reduce playing time and increase the likelihood of a draw.
Again, the three options are for either side to win or a draw. It’s another piece of betting jargon that’s commonly used in football markets, and it’s also written as 1, X, 2.
- 1 = a win for the home side
- X = a draw
- 2 = a win for the away side
Anyone new to cricket betting should start with 3 Way betting. If we strip away the jargon, it’s just a simple equation in which the bettor must decide who will win or whether the game will end in a tie. Because there is a third option on the draw, there are more options than in a one-day game.
Three-way betting has divided bettors: Some people prefer two-way games where the only outcome is a win for either side. The odds may be shorter, but with only two teams or individuals on the field, there is less exposure, and when there is a clear favourite, it may appear to be a simpler call.
Three-way bets require players to think more about the game ahead of them, and another potential advantage is that the odds can be longer. The draw also becomes a consideration and can be a valuable result in and of itself.
Weather conditions have a much greater chance of interfering with play in cricket than in football or rugby. Lost hours in the game may make the draw more likely. Similarly, two sides with deep batting lineups may occupy the crease for longer, which is another reason to consider a draw.
We like the 3-way bet for test cricket because it gives you more options to consider. The scope of analysis has expanded; and there are far more factors to consider aside from determining which team is the best. Others may prefer the 2-way bet, but it’s always good to have options when it comes to betting markets.