Two out of Three Falls match

Many types of wrestling matches, sometimes called "concept" or "gimmick matches" in the jargon of the business, are performed in professional wrestling. Some of them occur relatively frequently, while others are developed so as to advance an angle, and such match types are used rarely. Because of professional wrestling's long history over decades, many things have been recycled (many match types often being variations of previous match types). These match types can be organized into several loose groups.

The singles match is the most basic of all professional wrestling matches, which involves only two competitors competing for one fall. Victory is obtained by pinfall, submission, knockout, countout or disqualification.

In matches where championships are being contested, the champion typically (but not always) retains the title in the event of a disqualification or countout finish, no matter which competitor was disqualified or counted out in what is known as the "champion's advantage". Commentators and bookers generally explain it as saying the challenger "must beat" the champion. Playing into this, some storylines have heel champions protect their titles by intentionally losing in such ways.

Some of the most common variations on the singles match restrict the possible means for defeat: only pinfalls are permitted in a Pin only or Pinfall match, only submissions in a Submission match, etc. Another variation is a Time Limit match in which a match is contested until a time limit is reached or a wrestler achieves victory; in the event of the former, a separate method (audience reaction, judges, or even a rematch) is used to determine the winner. Time Limit matches were invented during the vaudeville days of professional wrestling as a way to stop matches that went on for too long (with some matches being hours long). A Battle of Respect is often held in tribute to another wrestler, where all means of victory are removed (that is, wrestlers simply wrestle each other for a fixed amount of time, without victory taken into consideration).

...
Wikipedia