Coincident that you both have 1 in rep? 😉
You want to go to Approach 2 for sure. It’s very simple to query posts by post type and custom data field. In addition you can use different categories.
Creating 3 different post types will create a lot of redundancy since your posts will basically have the same content.
I feel that this isn’t a WordPress question per se, so this question might be considered off topic.