What happens to your arb when a draw can end the game? Three-way arbitrage means covering home, draw and away, all under the same settlement rules. You add up the reciprocal prices, split a total stake across three legs, and see how the payout comes out about even whichever result lands. Then comes the part that matters more: checking whether the numbers are real. A suspiciously low total often points to quotes that do not match, like a two-way moneyline that counts extra time sitting next to a regulation-time draw price. The lesson also covers fees, commissions, abandoned matches and different rulebooks, so you know which legs to rule out before a dollar goes down.
Learning objectives
- Explain this technique and its assumptions in the context of real market rules.
- Reproduce the worked calculation or scenario.
- Identify false positives and when a proposed position should be rejected.
