@Confusedgf1319,
I think his sexuality is a lot less of a concern than his lack of fidelity.
I also think that spending half of a 5 year relationship just trying to figure the two of you out is about 2 years too many.
You do not have to hang around until he gets his **** in gear. You do not have to wait for him to commit and decide he's done with other people. And if you don't want to have an open relationship where he (and you, too, I might add) get to screw other people, then you don't have to agree to that, or settle for someone who it sounds like would jump at such an arrangement.
If he wants to be with you then the two of you need to get your act in gear. Two and a half years is plenty of time. Get counseling, either together or apart if you need a facilitator. Personally, I would have cut him loose a good 2 or 3 years ago if I was dating someone with such issues, but that's just me. Perhaps you have other reasons to stay together (maybe you have kids together; I don't know - but even then you don't have to be in a relationship in order to be good parents).
Decide what
you want and what will make
you happy. Beyond any labeling. Decide what you will tolerate.