Three wrestlers, first to score a pinfall or submission wins. The third person changes the entire dynamic — there's always someone resting while the other two fight, and the threat of a stolen pin creates constant tension. Triple threats are the booking shortcut for 'we have two people who deserve a title shot and can't choose.' The best triple threats make the three-way dynamic feel essential, not gimmicky.
"He hit his finisher but the third guy broke up the pin! That's the beauty and the frustration of a triple threat."