Definition of Fight Winner 3-Way

What does the term "fight winner 3-way" mean in the world of mixed martial arts or boxing betting? What is meant by "fight winner 3-way"?

In boxing or mixed martial arts, there are three possible outcomes of a fight:

Fighter A Wins
Fighter B Wins
Draw

This is a fight winner 3-way line:

Conor McGregor Wins, 1.75
Jose Aldo Wins, 3.25
Draw, 15.00

So, you can bet on McGregor to win, Aldo to win or for the fight to end in a draw.

This is what "fight winner 3-way" means, and this is one of the most common ways to wager on a fight.