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Three-Way Bet

 

Also known as 1X2 bet, this type of sportsbook is available for many competitions and sports categories. As the name implies, three possible outcomes are available with this type of sportsbook: either the home team wins (1), the game ends with a draw (x) or the away team wins (2). Obviously, the odds are issued to resemble each of the possible outcomes for this type of bet.

Apart from the conventional betting mode, bettors also like to complement the three-way bet with a handicap, which is common especially for those sports categories where a draw is possible as final result.

One of the reasons why this type of bet is so popular certainly is because of its long tradition. Especially in Europe, the three-way bet is a well known betting option, particularly with regards to soccer toto.

From the perspective of the bookmaker, this sportsbook is particularly popular because of the huge turnover it generates. Since bettors rarely wager on draws, sports betting providers are able to retain the wagers of those bettors who opted for a win or loss of either of the contestants in case the game actually ends with a tie.

Nevertheless, the profit of the bookmaker is extremely dependant on the actual payout quota key. For the majority of European soccer leagues, this payout key usually ranges between 93 and 94 %. This means that bookmakers usually retain about 6 or 7% of the wagers as commission.