This study investigates the effect of E-learning (EL), blended learning (BL) and flipped learning (FL) approaches on the mathematics achievement, self-regulation and mathematics self-efficacy. Participants consist of 163 first-year students attending an associate degree program (a 2-year program) of a state university. The EL, BL and FL settings in the research were designed based on Merrill's 'First Principles of Instruction Design Theory'. In the research in which a quasi-experimental pre-test--post-test research design was used, the data were obtained by means of mathematics achievement test, self-regulation and self-efficacy questionnaires. The experimental results showed that the mathematics achievement post-test scores of FL students were significantly higher than those of the students of EL and BL. No significant difference was found between BL and EL settings. In addition, FL students showed significantly higher self-regulation and mathematics self-efficacy than the other groups' students. According to these results, it can be said that the usage of FL approach in mathematics courses has a positive effect on the learning process of students. It is expected that the findings will be helpful in the future design and implementation of mathematics courses at vocational colleges.