If you’re new to hockey betting, the 3 way moneyline can be an intimidating concept. However, once you understand the basics, it can be a fun and exciting way to bet on your favorite teams. Essentially, the 3 way moneyline allows you to bet on a hockey game with three possible outcomes: a win for one team, a win for the other team, or a tie.
Before you dive into 3 way moneyline betting, it’s important to have a solid understanding of hockey betting odds and the different types of hockey bets available. Additionally, knowing how to read a 3 way moneyline and what factors to consider before placing your bet can increase your chances of success. In this beginner’s guide, we’ll walk you through the fundamentals of 3 way moneyline hockey betting and provide you with tips and strategies to help you make informed bets.
Table of Contents
Understanding Hockey Betting Odds
Before you start betting on hockey, it’s important to understand the different types of betting odds. In hockey, there are three main types of odds: decimal odds, American odds, and fractional odds.
Decimal Odds
Decimal odds are the most common type of odds used in hockey betting. They are represented by a number with a decimal point, and indicate the amount of money you’ll receive for every dollar you bet. For example, if the decimal odds for a team are 2.5, a $10 bet would return $25 (including your original $10 stake).
American Odds
American odds are typically used in the United States and Canada. They are represented by a positive or negative number, and indicate the amount of money you’ll win or need to wager in order to win $100. Positive odds indicate the amount of money you’ll win for a $100 bet, while negative odds indicate how much you’ll need to bet to win $100. For example, if the odds for a team are +200, a $100 bet would return $200 (including your original $100 stake). If the odds are -150, you’ll need to bet $150 to win $100.
Fractional Odds
- Fractional odds are popular in the United Kingdom and Ireland. They are represented as a fraction, and indicate the ratio of the amount of money you’ll win to the amount of money you’ll need to bet. For example, if the odds are 5/1, you’ll win $5 for every $1 you bet.
- One thing to note about fractional odds is that they include your original stake, so your total winnings will be lower than with decimal or American odds. For example, if you bet $10 on a team with fractional odds of 5/1, you’ll win $50, but that amount includes your original $10 stake.
Understanding hockey betting odds is an important part of making informed bets. By knowing how to read and interpret odds, you can make more informed decisions and increase your chances of success.
Types of Hockey Bets Available
When it comes to betting on hockey, there are a variety of types of bets available to choose from. Each type of bet offers its own unique set of odds and potential payout, making it important to understand what options are available.
Here are some of the most common types of hockey bets you’ll come across:
Moneyline Bets
- A moneyline bet is a wager placed on which team will win the game outright.
- Odds are assigned to each team based on their likelihood of winning, with the favorite having a negative number and the underdog having a positive number.
- For example, a -150 favorite means you would need to wager $150 to win $100, while a +150 underdog means a $100 wager would win $150 if they win.
Puck Line Bets
- A puck line bet is similar to a point spread bet in other sports, with one team assigned a -1.5 goal disadvantage while the other is given a 1.5 goal advantage.
- Odds are assigned to each team based on their likelihood of winning with the puck line factored in.
- For example, a -1.5 favorite would need to win by at least 2 goals for the bet to pay out, while a +1.5 underdog would only need to lose by 1 goal or win outright for the bet to pay out.
Over/Under Bets
- Also known as a totals bet, an over/under bet is a wager placed on the total number of goals scored in a game.
- The sportsbook will set a line for the total goals scored and bettors can wager on whether they believe the actual total will be over or under that line.
- Odds are assigned to each option based on the likelihood of that outcome occurring.
There are other types of hockey bets available, such as prop bets and futures bets, but these three types are some of the most common you’ll come across. It’s important to familiarize yourself with each type and the odds associated with them in order to make informed betting decisions.
How to Read a 3 Way Moneyline
If you are interested in hockey betting, you must have come across the term 3 way moneyline. This type of betting is a popular option for bettors who are looking to wager on the outcome of a hockey game. In a 3 way moneyline, you can bet on one of the three possible outcomes: win for the home team, win for the away team or a tie.
So, how do you read a 3 way moneyline? Let’s take a look at the following example:
Example
Montreal Canadiens +150
Toronto Maple Leafs +110
Tie +270
From this example, we can tell that the Montreal Canadiens are the underdogs as they have a higher payout of +150. The Toronto Maple Leafs, on the other hand, have a lower payout of +110, making them the favorites. Finally, the tie has the highest payout of +270.
Factors to Consider
- Team Form: Before placing your bets, it’s important to consider the recent form of the teams. A team that has been performing well is more likely to win, even if they are playing away from home.
- Injuries and Suspensions: Injuries and suspensions can have a significant impact on the outcome of a game. A team that is missing key players is more likely to struggle, making it harder for them to win.
- Head-to-Head Record: The head-to-head record of two teams is also an important factor to consider. Some teams may have a good record against their opponents, giving them a psychological advantage.
By considering these factors and understanding how to read a 3 way moneyline, you can increase your chances of making successful bets in hockey betting.
Factors to Consider Before Placing Your Bet
When it comes to sports betting, it’s important to take into account various factors before placing your bets. These factors can affect the outcome of the game and ultimately, your winnings. Here are some factors to consider before placing your bets:
Firstly, you need to consider the odds. The odds will determine your potential winnings and can vary depending on the teams involved, their current form, and other factors. Additionally, you should also take into account the line movement, which can indicate which team is receiving more action and may influence the odds.
Team Form and Injuries
- One of the most important factors to consider is the team’s recent form. A team that has been performing well may have a better chance of winning compared to a team that has been struggling.
- It’s also crucial to take into account injuries. A key player being out of the game can significantly affect a team’s performance and ultimately, the outcome of the game. Make sure to check for any injuries or suspensions before placing your bets.
Home vs. Away Games
Another important factor to consider is whether the game is a home or away game for the team you’re betting on. Home games often provide a significant advantage to the home team, as they have the support of their home crowd and are more familiar with the playing conditions.
On the other hand, away games can be more challenging, as teams have to deal with unfamiliar environments and potentially hostile crowds. Consider which team is playing at home and how that may impact the game before placing your bets.
Tips and Strategies for Successful Hockey Betting
When it comes to betting on hockey, it can be a challenging task for even the most seasoned bettor. With so many variables at play, it can be difficult to make the right decisions. However, there are some tips and strategies that can help improve your odds of success.
One of the most important things to keep in mind when betting on hockey is to stay up-to-date with the latest news and information. This includes keeping an eye on player injuries, team performance, and any other relevant information that could impact the outcome of a game. Additionally, it’s important to have a good understanding of the various betting markets and the odds associated with them.
Tip #1: Look for Value
When placing a bet on a hockey game, it’s important to look for value in the odds. This means looking for opportunities where the odds are in your favor and there is potential for a big payout. One way to do this is to look for underdogs that have a chance of winning. While the odds may be against them, if they are able to pull off an upset, the payout can be significant.
Another way to find value is by betting on the total goals scored in a game. This market can often have more favorable odds than betting on the outcome of the game, and can provide an opportunity for a big payout if you can correctly predict the total number of goals scored.
Tip #2: Manage Your Bankroll
It’s important to have a solid bankroll management strategy when betting on hockey. This means setting a budget for how much you are willing to spend, and not exceeding that amount. It’s also important to place bets that are appropriate for your bankroll. This means not placing large bets on long shots or risky bets that could deplete your bankroll quickly.
Another key component of bankroll management is to avoid chasing losses. If you have a losing streak, it can be tempting to try to make up for your losses by placing bigger bets. However, this can be a recipe for disaster and can quickly wipe out your bankroll.
Tip #3: Do Your Homework
Finally, one of the best things you can do to improve your odds of success when betting on hockey is to do your homework. This means researching teams, players, and betting markets to gain a deeper understanding of the sport and the various betting options available. By doing your homework, you can make more informed decisions and increase your chances of making a profit over the long term.
Common Mistakes to Avoid When Betting on Hockey
If you’re new to betting on hockey, it’s important to understand some of the common mistakes that many beginners make. By avoiding these mistakes, you can improve your chances of success and have a more enjoyable betting experience.
One of the most common mistakes is betting with your heart instead of your head. This means placing a bet on your favorite team, even if the odds are against them. It’s important to keep your emotions in check and make bets based on the odds and statistics, rather than personal biases.
Not Doing Your Research
- Skimming statistics: Don’t just look at the overall statistics of a team, but analyze them more deeply. Look at the players’ individual stats, injuries, and performance in specific situations, such as home versus away games.
- Not checking lineups: Always check the lineups of both teams before placing your bet. Look for any key players who may be injured or benched for the game, as this can greatly impact the outcome of the game.
- Ignoring trends: It’s important to look at past trends and patterns, such as a team’s performance in certain situations or their record against specific opponents. This can give you valuable insights into how a team is likely to perform in the current game.
Chasing Losses
Another common mistake is chasing losses, which means increasing your bets after a losing streak in an attempt to make up for the losses. This can be a dangerous and often costly approach, as it’s based on the assumption that your luck will eventually turn around. Instead, it’s important to stick to a solid betting strategy and never bet more than you can afford to lose.
By avoiding these common mistakes and taking a strategic approach to betting on hockey, you can improve your chances of success and enjoy a more profitable and rewarding betting experience.
Frequently Asked Questions
What is 3 Way Moneyline Hockey?
3 Way Moneyline Hockey is a type of betting in which there are three possible outcomes. Unlike traditional moneyline bets, which offer two outcomes (win or lose), 3 Way Moneyline Hockey includes the possibility of a tie. In this type of bet, you can bet on one team to win, the other team to win, or for the game to end in a tie.
How does 3 Way Moneyline Hockey work?
In 3 Way Moneyline Hockey, each team is assigned odds for each of the three possible outcomes: win, lose, or tie. If you bet on a team to win, and they do win, you will receive a payout based on the odds assigned to that outcome. If you bet on a team to lose, and they do lose, you will receive a payout based on the assigned odds. If you bet on a tie and the game does end in a tie, you will receive a payout based on the assigned odds.
How are the odds determined in 3 Way Moneyline Hockey?
The odds for 3 Way Moneyline Hockey are determined by the sportsbook or bookmaker offering the bet. They take into account various factors such as the teams’ previous performance, player injuries, and other factors that could affect the outcome of the game.
Is 3 Way Moneyline Hockey a popular type of bet?
Yes, 3 Way Moneyline Hockey is a popular type of bet among hockey fans and bettors. It offers a unique way to bet on hockey games and allows for the possibility of a tie outcome, which can add to the excitement of the game.
What are some strategies for betting on 3 Way Moneyline Hockey?
One strategy for betting on 3 Way Moneyline Hockey is to look at the teams’ previous performance and recent form. Additionally, you can consider factors such as player injuries, home advantage, and head-to-head records. It’s important to do your research and have a solid understanding of the teams and their current situation before placing your bet.