Three Way Moneyline in hockey betting. How it works?

A standard moneyline wager on an NHL game is going to involve only two options. You either play the away team to win, usually at positive odds because the visitor is almost always the underdog, or a home team win, generally accompanied by the negative odds of a favorite.
In 2005, the NHL abolished the tied or drawn game, instituting a game-deciding shootout to determine a winner in every contest. That should have been the end of betting on tie games as the result of a match, but the sportsbooks came up with a way around that, bringing back the tie wager option by introducing the 60-minute three-way moneyline.

This wager is played based solely on the outcome of the game following the three 20-minute periods of regulation time. Whether the game ends up being decided in overtime or shootout is a moot point, because for the purposes of the three way moneyline wager, those parts of the game don’t exist.

Some sportsbooks like 888 Sport view the three-way moneyline as their standard NHL moneyline wager option. For example, in a game between the Chicago Blackhawks and Colorado Avalanche, the first listing on offer on this contest at the 888 Sports site is the three-way moneyline. Visiting Chicago is offered at +140, while the hometown Avalanche are favored at -160. The draw play will get you odds of +300.
Below that market is what’s called the including overtime and penalty shootout moneyline, which just offers odds on a Chicago or a Colorado win.

When dealing with a three-way moneyline, how do you decipher when the draw is a wise play? Well, here’s where overtime does weigh into your decision-making process. The only way to get a tie win on this wager is for the game to go to extra time. Since the shootout was introduced, on average just under 24 percent of NHL games have required an overtime period or shootout to decide the issue. That’s slightly under one in four.
But you can increase your odds by studying the opposing teams in your wager and checking how frequently they go to overtime.