If Palin somehow wins the Republican primaries, I'll bet there will be a three way race. The establishment will not let her win.
Obama’s only hope is a three way match up. I just hope we’re not that stupid.
Usually, if a presidential election has a three-way race, it hurts the incumbent party. In 1968, when the president was a Democrat, George Wallace ran as an independent, helping Nixon win with about 45% of the vote. In 1992, when George H.W. Bush, a Republican, ran for reelection, Perot ran as an independent, helping Clinton win with 43%. In 2000, when the president was a Democrat, Nader ran for the Green Party, helping Bush win with about 48%.