What Is a Two-Way Bet in Sports Betting?

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New York Jets tight end C.J. Uzomah (87) catches a pass and runs against the Las Vegas Raiders in an NFL football game, Sunday, Nov. 12, 2023, in Las Vegas, NV. Raiders defeated the Jets 16-12.
(AP Photo/Jeff Lewis)
Chase Kiddy @chaseakiddy Nov 16, 2023, 1:08 PM

In sports betting, a two-way bet is a bet in any online sports betting market that only has two potential outcomes. 

Consider a college football moneyline market, where either the favorite or underdog will win. There are no other possible outcomes.

Two-way bets are fundamentally different from three-way bets, where there are three potential outcomes. Three-way bets are prevalent in soccer betting, where the most common markets offer Side A, Side B, or a draw option. 

Example of a Two-Way Bet

There are plenty of examples of two-way bets in American sports betting. In the NBA, for instance, you may take either side of a game in the spread, total, or moneyline markets. All three are examples of two-way bets because there are only two possible market outcomes.

College football and college basketball rely on two-way bets because ties are not possible in side-based markets.

NFL odds are largely bet as a two-way market, though there are technically three-way markets available for those who want to bet on ties. 

In short, any potential bet where there are only two possible market outcomes is a two-way bet.

Visit the online sportsbook for updated odds, sportsbook promos — including BetMGM’s welcome offer — and more.

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About the Author

Chase Kiddy

Read More @chaseakiddy

Chase Kiddy is a writer for BetMGM and co-host of The Lion's Edge, an NFL and college football podcast available on Spotify, Apple Podcasts, and everywhere else. He has also written for a number of print and online outlets, including the Richmond Times-Dispatch, Washington Post, Daily News-Record, and HERO Sports. His first novel, Cave Paintings, is in development.

Chase Kiddy is a writer for BetMGM and co-host of The Lion's Edge, an NFL and college football podcast available on Spotify, Apple Podcasts, and everywhere else. He has also written for a number of print and online outlets, including the Richmond Times-Dispatch, Washington Post, Daily News-Record, and HERO Sports. His first novel, Cave Paintings, is in development.