What Is a 3-Way Moneyline in Hockey?
A 3-way moneyline in hockey is a betting market that allows you to wager on the outcome of an NHL game during regulation time only — the first 60 minutes (three 20-minute periods). Unlike a traditional moneyline that includes overtime and shootout results, a 3-way moneyline offers three distinct outcomes: a home team win, an away team win, or a draw (tie). This market is also called a 60-minute line or regulation time bet, and it has become increasingly popular among hockey bettors seeking better odds or specific betting strategies.
The fundamental appeal of 3-way moneyline betting lies in its structure: you're not just picking a winner, you're picking what happens within a specific timeframe. If the score is tied after 60 minutes, the draw wins, and any bets placed on either team lose. This creates a unique dynamic that differs significantly from traditional moneyline betting.
How 3-Way Moneyline Hockey Betting Works
When you place a 3-way moneyline bet, you have exactly three options:
- Home Team Wins in Regulation — The home team is ahead on the scoreboard when the final buzzer sounds after the third period.
- Away Team Wins in Regulation — The away team is ahead on the scoreboard when the final buzzer sounds after the third period.
- Draw (Tie) — Both teams have the same score after 60 minutes of play, regardless of what happens in overtime or the shootout.
The critical distinction is that whatever happens after regulation time is completely irrelevant to the outcome of your bet. If you bet the home team to win and they're ahead 3-2 after 60 minutes but lose 4-3 in overtime, your bet wins. Conversely, if they're tied 2-2 after 60 minutes and win 3-2 in overtime, your bet loses because the game ended in a draw during regulation.
Regulation Time vs. Overtime and Shootout
Understanding the difference between regulation time and overtime is essential for 3-way moneyline betting. In the NHL, regulation time consists of three 20-minute periods, totaling exactly 60 minutes of play. If the score is tied after regulation, the game proceeds to overtime (a sudden-death 20-minute period) and, if still tied, a shootout (a series of penalty attempts).
The data is striking: according to analysis of NHL games from 2011-2016, approximately 23.9% of regular-season games were decided in overtime or shootout. This means that nearly one-quarter of all NHL games end in a regulation tie. This statistic is crucial because it directly impacts the odds sportsbooks offer on 3-way moneylines and affects your probability of winning.
Odds Structure: Why 3-Way Odds Differ
The odds on a 3-way moneyline differ substantially from traditional moneyline odds because there are three possible outcomes instead of two. When a sportsbook offers a 2-way moneyline, they're accounting for only two outcomes: team A wins or team B wins. If the game ties in regulation, the bet is typically voided (pushed) and your money is refunded.
With a 3-way moneyline, the sportsbook must account for the draw as a legitimate outcome. This changes the odds for both teams. Typically:
- Favorite odds improve (become less negative) because the favorite is somewhat less likely to win in regulation time than to win including overtime, where the outcome is more of a 50-50 proposition.
- Underdog odds worsen (become less positive) for the same reason.
- Draw odds are relatively high because approximately 24% of games end in a regulation tie, but the probability is still lower than either team winning outright in regulation.
For example, if a team is -140 on the full-game moneyline, they might be -115 on the 60-minute line — a difference of 25 cents. This adjustment reflects the reduced likelihood of winning when overtime is excluded.
Why Do Hockey Bettors Use 3-Way Moneylines?
Better Odds on Favorites
One of the primary reasons bettors choose 3-way moneylines is to obtain better odds on heavy favorites. In NHL games where one team is heavily favored, the full-game moneyline odds can be unattractive. A -200 favorite, for instance, requires you to risk $200 to win $100 — not ideal for many bettors.
By switching to the 3-way moneyline, the same favorite might be available at -115 or -120, requiring less juice and offering better value. This makes betting on strong favorites more palatable from a risk-reward perspective. The trade-off is that you lose if the game goes to overtime or shootout, but for bettors confident in a team's regulation-time performance, this is a worthwhile exchange.
Hedging Against Overtime Risk
Some bettors use 3-way moneylines as a hedge against overtime uncertainty. If you believe a particular team will dominate but are concerned about the unpredictability of overtime, the 3-way moneyline allows you to isolate your bet to the 60-minute period. This eliminates the risk of a team dominating regulation but losing in the lottery-like nature of a shootout.
This strategy is particularly useful when betting on teams with strong regular-season records but inconsistent overtime performance.
Betting on the Draw
The draw option itself represents a unique betting opportunity. With approximately 20-25% of NHL games ending in regulation ties, the draw is a statistically significant outcome. For bettors who believe the odds on the draw offer value, this market provides a standalone betting opportunity that doesn't exist in traditional moneyline betting.
Many experienced bettors use draw betting as part of a diversified hockey betting strategy, especially when line-shopping reveals favorable draw odds across sportsbooks.
3-Way Moneyline vs. Other Hockey Betting Markets
3-Way Moneyline vs. Puck Line
The puck line is the hockey equivalent of a point spread in football or basketball. The favorite is assessed a -1.5 goal handicap, and the underdog receives a +1.5 goal handicap. A critical difference: puck line bets include overtime and shootout results, unlike 3-way moneylines.
| Aspect | 3-Way Moneyline | Puck Line (-1.5/+1.5) |
|---|---|---|
| Time Period | Regulation only (60 min) | Full game (including OT/shootout) |
| Outcomes | 3 (home win, away win, draw) | 2 (favorite covers, underdog covers) |
| Favorite Requirement | Win in regulation | Win by 2+ goals |
| Underdog Benefit | Loses on regulation tie | Covers on regulation tie (+1.5) |
| Typical Favorite Odds | -115 to -120 | -110 |
| Typical Underdog Odds | +100 to +110 | -110 |
For a favorite, the puck line can offer better value if you believe the team will win by multiple goals. For an underdog, the puck line provides two ways to win: either win outright or lose by exactly one goal (since +1.5 means you cover if they lose by 1). The 3-way moneyline, by contrast, is a pure win-or-lose proposition for team bets.
3-Way Moneyline vs. 2-Way Moneyline
A 2-way moneyline is the traditional hockey moneyline that includes overtime and shootout. When you bet a 2-way moneyline and the game ends in a regulation tie, your bet is voided (pushed) and your stake is returned. You have only two outcomes: the team you backed wins, or the bet pushes.
| Aspect | 3-Way Moneyline | 2-Way Moneyline |
|---|---|---|
| Regulation Tie Outcome | Draw wins; team bets lose | Bet is voided (push); money returned |
| Number of Outcomes | 3 | 2 (with push as a third possibility) |
| Favorite Odds | Better (less negative) | Worse (more negative) |
| Underdog Odds | Worse (less positive) | Better (more positive) |
| Draw Option | Available | Not available |
The 2-way moneyline is simpler in some respects because it eliminates the draw as a losing outcome. However, it also eliminates the draw as a betting opportunity. For bettors who want exposure to the draw or prefer the improved odds on favorites, the 3-way is superior.
3-Way Moneyline vs. Period Betting
Period betting allows you to wager on the outcome of individual periods (first period, second period, third period, or overtime). These bets are settled based on the score at the end of each specific period, not the entire regulation time.
A 3-way moneyline on a full game is fundamentally different from period betting because it encompasses all three regulation periods, not just one. Period betting is more granular and offers different strategic opportunities, such as betting on momentum shifts or specific team performance in particular periods.
How to Calculate Fair Odds on 3-Way Moneyline Bets
Understanding the 24% Rule
The foundation of fair 3-way moneyline odds is the empirical reality that approximately 24% of NHL games end in regulation ties. This statistic, derived from five years of NHL data (2011-2016), is crucial for evaluating whether a sportsbook is offering reasonable odds.
When calculating fair odds for a 3-way moneyline, you must account for this tie probability. Here's the logic:
- If two teams are evenly matched, they each have a 50% chance of winning in a full-game scenario.
- But with 24% of games going to overtime, only 76% of games are decided in regulation.
- Of those 76% of games decided in regulation, the two teams split them 50-50.
- Therefore, each team has a (50% × 76%) = 38% chance of winning in regulation.
- The draw has a 24% chance of occurring.
Example Calculation for Evenly Matched Teams
Using the probabilities above:
- Team A wins in regulation: 38%
- Team B wins in regulation: 38%
- Draw: 24%
To convert probability to fair odds, use this formula: Fair Odds = (1 / Probability) - 1, expressed as a moneyline.
For a 38% probability: Fair Odds = (1 / 0.38) - 1 = 1.63, or +163
For a 24% probability: Fair Odds = (1 / 0.24) - 1 = 3.17, or +317
Therefore, fair odds for evenly matched teams should be approximately:
- Team A: +163
- Team B: +163
- Draw: +317
Reading Sportsbook Odds and Identifying Value
When evaluating a sportsbook's 3-way moneyline odds, compare them to the full-game moneyline odds. A rule of thumb: you should receive approximately 60 cents better odds on the regulation bet compared to the full-game bet.
For example, if a favorite is -140 on the full game, they should be roughly -80 to -85 on the 60-minute line (approximately 55-60 cents better). If the sportsbook is offering only -120, you're not getting fair value, and you should shop for better odds elsewhere.
The draw odds typically vary the most across sportsbooks, so line-shopping for draw bets is particularly important.
Common Misconceptions About 3-Way Moneyline Hockey
Myth 1: "The Draw Is Rare"
Reality: The draw is not rare at all. Approximately 20-25% of NHL regular-season games end in regulation ties. This is a significant portion of games — nearly one in four. Many bettors underestimate the frequency of regulation ties, which can lead to undervaluing draw bets when odds are favorable.
Myth 2: "3-Way Moneyline and 60-Minute Line Are Different Things"
Reality: These terms are synonymous. A "3-way moneyline," "60-minute line," and "regulation time bet" all refer to the exact same market. The terminology varies across sportsbooks, but they're identical products. Understanding this prevents confusion when shopping for the best odds.
Myth 3: "If I Bet Team A to Win and They Tie, I Push"
Reality: This is incorrect. If you bet Team A to win on a 3-way moneyline and the game ends in a regulation tie, your bet loses. There is no push. The draw is a separate outcome that wins only if you specifically bet on it. This is a critical distinction from 2-way moneyline betting, where a tie results in a push.
Myth 4: "The Draw Odds Should Be Around +200"
Reality: Based on the 24% probability of regulation ties, fair draw odds should be around +317 for evenly matched teams. Odds significantly lower than this (e.g., +150 or +180) represent poor value. Many bettors are surprised by how high draw odds should be, but the math is clear: with a 24% probability, +317 is the fair price.
Strategic Tips for 3-Way Moneyline Hockey Betting
When to Use 3-Way vs. 2-Way
Use a 3-way moneyline when:
- You want to bet on the draw as a standalone wager.
- You're betting a heavy favorite and want significantly better odds.
- You want to eliminate overtime risk for a specific matchup.
- You believe the draw offers value at the sportsbook's offered odds.
Use a 2-way moneyline when:
- You prefer simplicity and want to avoid the draw outcome.
- You want to include overtime and shootout results in your bet.
- The 2-way odds offer better value for your team selection.
Bankroll Management and Bet Sizing
Because 3-way moneyline odds differ substantially from full-game odds, you must adjust your bet sizing accordingly. A -115 favorite on the 60-minute line is not equivalent to a -115 favorite on the full-game line — the former has a higher probability of losing because the draw is a losing outcome.
Use the probability calculations discussed earlier to determine appropriate bet sizing. If you typically bet $100 on a favorite at -110 (50% probability), you should not bet $100 on the same team at +163 (38% probability) without adjusting your expectation of variance and potential returns.
Line Shopping and Odds Comparison
Different sportsbooks offer different odds on 3-way moneylines, particularly for the draw. Before placing a 3-way moneyline bet:
- Check at least three major sportsbooks for their odds.
- Pay special attention to draw odds, which vary the most.
- Calculate the implied probability of each outcome to identify value.
- Prioritize sportsbooks offering the best odds for your selection.
For example, if one sportsbook offers the draw at +300 and another at +350, the difference of 50 cents represents meaningful value over time.
Where to Bet 3-Way Moneyline Hockey
Most major sportsbooks in the United States and internationally offer 3-way moneylines on NHL games. These include:
- DraftKings — Comprehensive 3-way moneyline offerings with competitive draw odds.
- FanDuel — Regularly features 3-way moneylines with frequent promotions.
- Pinnacle — Known for sharp odds and is often the best source for draw odds.
- Bet365 — Extensive hockey betting options including 3-way moneylines.
- Caesars Sportsbook — Full 3-way moneyline coverage for NHL games.
When selecting a sportsbook, compare not only the odds but also the platform's user experience, available promotions, and withdrawal options. Some sportsbooks offer boosts or enhanced odds on specific 3-way moneyline selections, which can provide additional value.
FAQ: 3-Way Moneyline Hockey Betting
What happens if a hockey game is tied after 60 minutes on a 3-way moneyline?
If the score is tied after 60 minutes on a 3-way moneyline, the draw wins. Any bets placed on the home team or away team lose. Only bets specifically placed on the draw are winners.
Is a 3-way moneyline the same as a 60-minute line?
Yes, completely. A "3-way moneyline," "60-minute line," "regulation time bet," and "regulation moneyline" are all identical markets. Different sportsbooks use different terminology, but they all refer to the same betting product: wagering on the outcome of the game during the first 60 minutes only.
Can I use 3-way moneylines in parlays?
Yes, most sportsbooks allow 3-way moneylines to be included in parlay bets. However, be aware that including a draw in a parlay significantly reduces the probability of the entire parlay winning. A parlay including a draw at +317 is much riskier than a parlay of team moneylines alone.
What percentage of NHL games end in a draw after regulation?
Approximately 20-25% of NHL regular-season games end in regulation ties. This percentage is consistent across multiple seasons and is a foundational statistic for understanding 3-way moneyline odds.
Why are draw odds so high?
Draw odds are high because the probability of a regulation tie, while significant at 24%, is still lower than the probability of either team winning in regulation (each at 38%). Using the fair odds formula, a 24% probability translates to approximately +317. If draw odds are significantly lower than this, they represent poor value.
How do 3-way moneyline odds differ from full-game odds?
3-way moneyline odds are typically 50-70 cents better for favorites because the favorite is less likely to win in regulation time than to win including overtime. Underdogs receive worse odds for the same reason. Draw odds are entirely unique to the 3-way market and don't exist in full-game moneyline betting.
What's the difference between a 3-way moneyline and a puck line?
A 3-way moneyline is a straight win/loss/draw bet on regulation time. A puck line is a goal-spread bet (typically -1.5 for the favorite, +1.5 for the underdog) that includes overtime and shootout results. The puck line requires the favorite to win by 2+ goals, while the 3-way moneyline requires only a regulation win by any margin.
Should I bet the draw in hockey?
Betting the draw can be profitable if the odds offer value. Using the 24% probability baseline, fair draw odds are approximately +317. If a sportsbook offers +350 or higher, the draw represents positive expected value. However, draws are still uncertain outcomes, so proper bankroll management is essential. Never bet the draw just because it's available — only bet it when the odds justify it.
How do I know if I'm getting fair odds on a 3-way moneyline?
Compare the 3-way moneyline odds to the full-game moneyline odds. You should receive approximately 60 cents better odds on the regulation bet. Additionally, calculate the implied probability of each outcome and compare it to the empirical 38%-38%-24% baseline for evenly matched teams. If the odds are significantly different from this baseline without justification (e.g., one team is a heavy favorite), you may not be getting fair value.
Can I combine multiple 3-way moneyline bets into a parlay?
Yes, you can parlay multiple 3-way moneyline bets. However, each bet adds risk, and including draws in a parlay dramatically reduces your probability of winning the entire parlay. Use parlays cautiously with 3-way moneylines and only when you have high confidence in multiple selections.
Related Terms
- Puck Line — The hockey equivalent of a point spread, typically -1.5 or +1.5 goals.
- Moneyline — A bet on the straight-up winner of a game, including overtime and shootout.
- Period Betting — Wagering on the outcome of individual periods rather than the full game.
- Regulation Time Betting — The broader category of bets that exclude overtime and shootout results.
- Draw Betting — Wagering specifically on a tie outcome in sports where draws are possible.