The 3-way swivel is so you have say 8lb Fireline (2 lb diameter) from the reel to one swivel, your leader made from 4 or 6lb clear line down to your jig off the second swivel, and the bobber hooks to the 3rd eye of the swivel. The theory is that wrapping the bobber 3 times (which is what I have done the past 3 years) causes a weak spot at this wrap. I would re-tie up past the bobber every time I caught a fish larger than 3 lbs and usually every time after a couple of short fish were caught just in case. I won't do that this year for I will be using the 3-way rig. I was using up lot of line daily when you consider losing 10-15 feet per fish on the re-tie. It don't take long to use up enough on the spool to effect the casting distance. This year the Fireline will stay in the spool all winter and the only thing I will change is the leader when necessary. Hope this helps.