A 3-way bet on a National Hockey League game refers to a wager in which you are picking the favorite, the underdog, or the game to end in a tie.
Some might think this type of bet is no longer possible in the NHL ever since it introduced a shootout in 2005 to make sure every game ends with a winner after the teams are still tied following regulation and overtime play. A 3-way bet in the NHL, however, is still possible because you can also wager on the game ending in a tie after the regulation 60 minutes of play.
In this type of bet, it does not matter what happens in overtime or the shootout. Once the regulation three periods are over, you will receive a payout if the game is tied at that point in the game.
In a 3-way wager on an NHL game, the betting line will appear with a favorite, an underdog, and the option of selecting the game to end in a draw. As an example, it could appear New York Rangers -150, Philadelphia Flyers +200, Draw +250. In this scenario, you would receive $100 if you put down $150 on the Rangers and $200 if you bet $100 on the Flyers. If you correctly pick a tie, you would receive $250 on a $100 bet.
You can take advantage of the 3-way bet if you think the teams will be tied after 60 minutes. Because the majority of the games do not require overtime, picking this option offers the opportunity of a high payoff because of the higher odds.
If you are picking a game to be tied after 60 minutes, bettors should do some research to determine which teams have a history of playing more overtime and close games.
Another option in 3-way betting on an NHL game is to do what's known as hedging your bets. In this scenario, you would play both a draw bet and a win bet. Should the team you pick win in overtime or in a shootout, the result is you would have two winning tickets.
The advantages of 3-way betting on NHL games are longer odds and higher payouts. This is because a tie is the least likely outcome in regulation play and therefore offers the longest odds. A 3-way bet stands in contrast to standard 2-way bets in ice hockey where you are picking a team to win outright no matter if the game is decided in regulation, overtime, or a shootout.