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Three way betting is when there are three options to choose from with a selection. The most common – and most popular – example of a three way bet is with single football matches. The three options are a home win, the draw and the away win.
Football betting is the most popular market to bet on in the UK and although there are plenty of different markets to choose from on each match, the one that many bettors go for is the three way result bet.
An example of this kind of three way bet would be with a Manchester United v Chelsea match. The three options to choose from would be a Manchester United home win, a draw, or a Chelsea away win. Three way betting is obviously an option with any sport that allows for draws and has the possibility of one of two teams winning the event.
One important thing to note with a three way bet is that one of the sides will be allocated as the ‘home’ side. In most football leagues and cups this will mean the team that are playing at their home ground. But where the event is taking place at a neutral venue (as in a World Cup for example) there will be one side denoted as the ‘home’ team.
The longest odds available for a three way bet that were successful would probably be for a USA win against England in 1950 or when Hungary beat England 6-3 at Wembley in 1953. Both of these were 500-1 but English bookies aren’t quite as confident of their side these days.