Historically, 3 way lines have primarily been only the concern of the soccer bettor. However, with the proliferation of online sportsbooks and the sheer number of bets that bettors have at their fingertips, these types of bets are becoming more commonplace in other sports. The purpose of this calculator is to help bettors understand the probabilities and vig associated with this type of bet.
What Are 3 Way Odds
3 way odds give the bettor the option to bet on either team in a particular game but also give them a separate option to bet that the game will end in a tie. For this reason, these bets are primarily found in sports where ties are fairly common such as soccer.
However, they can also be found in other sports such as hockey in which OT is fairly common. In these cases, the “tie” option means that the score is tied at the end of regulation and the bet is settled regardless of any overtime or shootout results.
In such cases, this may be referred to as a 60 minute or regulation time bet. The most important thing to realize about a 3 way line is that a bet on either team will lose if the result is a tie instead of pushing like in a 2 way line.
What Is The Vig or Juice
In sports betting, the vig or juice is how the difference between the payout that is offered and what the payout “should” be based strictly on the probability.
In 2 way bets, the vig is fairly easy to see. For example, in a bet where both outcomes are considered equally likely, the odds are typically -110. This means that the bettor has to wager $110 to win $100. If you think of the game as a coin flip where you win $100 every time the coin lands on heads and you lose $110 every time the coin lands on tails, you can see that you will lose money in the long run as long as the coin is fair. In this case, the fair odds should be +100 meaning that you would still win $100 for each head but only lose $100 for each tails. The difference between losing $100 and $110 is the vig or the juice and it guarantees that the sportsbooks will make money as long as there are a roughly even number of bettors on each side.
With 3 way odds, the vig can be a little bit harder to see. That is where this 3 way odds calculator can come in handy.
What Is A 3 Way Fair Odds Calculator
A 3 way fair odds calculator takes the odds on each of the three possible outcomes and uses them to determine the implied probability of each outcome. It will also show what the odds would be if the bet had no vig attached.
This can help sharp bettors identify potentially profitable opportunities. If they have reason to believe that a particular outcome is more likely to occur than the true probability implied by the odds, then they may have found a good bet. By comparing the actual odds offered to the no vig odds, they can see how much vig they are paying and make an informed decision on whether to make that bet.
How To Use A 3 Way Fair Odds Calculator
To use a 3 Way Fair Odds Calculator, simply enter the odds for each of the options in the “American Odds” fields and click calculate. The calculator will calculate the True Probability and No-Vig Odds for each of the 3 outcomes. For example, If Liverpool is +112, Leicester City is +245 and Tie is +250, our calculator would give us the following results:
|American Odds||True Probability||No Vig Odds|
We can compare the “True Probabilities” from the calculator to our perceived probabilities to determine if we feel like any of these outcomes are worth betting.
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FAQs – 3 Way No Vig Calculator
3 Way odds are very common in soccer betting. They are also fairly common for regulation time bets in hockey. They can also be found in sports like basketball for either half or full games although since ties are much less likely in higher scoring sports, they are much less popular.
When you are new to 3 way betting, the odds can be very confusing at first. It is fairly common for all 3 outcomes to offer positive odds which is never the case in 2 way betting. For that reason, the underlying probabilities may not be intuitive at first and the calculator can help to close that gap.
Not exactly. A 3 way odds calculator will tell you the implied probability of a bet for the given odds. It is up to you to determine what you think that the actual probability of each outcome is and compare them to the calculated results to make informed gambling decisions.