From the AIP ENR 1.5 - 23
3.4 Standard Holding Pattern
3.4.1 When flying the standard holding pattern, an aircraft
must:
a. follow the precribed track inbound to the holding point;
b. execute a 180 degree turn in the direction specified, so as to fly outbound a track parallel to the inbound track;
etc etc
So if you do use the three times drift method you are not complying with the requirements as laid down in the AIP. That said however, I know organisations that teach this method as standard.