3-way handicap betting\n\n Three-way handicap betting gives bettors the opportunity to bet on the handicap tie option. Selecting the handicap tie option is effectively betting on the match finishing in a victory for the team receiving the virtual deficit (-1 etc.) by the exact winning margin offered.

The simplest explanation I've come across comes courtesy of 10bet: In a 3-Way Handicap, the line is set so that there can also be a draw outcome, giving you 3 potential bets. Handicap (-1): You win if your team wins the match with a goal difference of two or more.