What is 1X2 betting? Detailed Explaination & Examples
1X2 betting, also known as 3-way betting, is a form of betting where players will bet on one of three bets: The home wins, Draws, the away wins.
This is a prevalent type of bet and is chosen by many players because it is a simple way to bet on sports with the possibility of a tie.
- 1: The home wins
- X: Draw
- 2: The away wins
Unlike Asian handicaps or totals, when playing 1X2 bets, players will not have to care about the difference in performance between two teams or two players. Instead, the odds indicate the chances of each outcome occurring.
How does a 1X2 Bet Work?
If you are still wondering about this bet type and do not understand how it works. Below, we will explain it in more detail and include an example to make it easier for you to understand.
The three results, win, draw or lose of a match, will be represented by 1, X, or 2, respectively. Thus, 1 illustrates the home win, X represents the draw result, and 2 represents the away win.
For example, you enter a bet on the match between the home team Man City and the away team Southampton at the bookmaker Bet365. In which, the odds for each outcome that the bookie offers are as follows:
- Mancity 1.37
- Southampton 8.45
- Draw 4.80
Looking at the odds, you can easily see that Man City is the higher-rated team so that the odds will be much lower. In contrast, Southampton is a lower-rated team, the odds showing that the possibility of this away team's victory is very low, almost impossible. Furthermore, the odds for a draw result are also very high, which shows that the match's probability of a tie result is very low.
- When betting $100 on Man City to win, if Man City wins, you will get $137; if the result is a draw or Southampton wins, you lose your bet.
- When you bet $100 on Southampton to win, you will get $845 if they win.
- When betting on the draw result, you will receive $480 if both teams tie.
The 1X2 bet is sometimes also available in handicap betting, as long as there's the possibility of a draw.
Example of 1X2 bet in a three-way handicap bet:
The three-way handicap margins on Leicester City vs. Arsenal are offered as below:
- Leicester: +2
- Draw/handicap tie: -2
- Arsenal: -2
Assuming the match ends with a score of 1-0 in favor of Arsenal, the following cases will occur:
If you bet on Arsenal, then you lose the bet because they didn't cover the spread.
If you bet on a tie, you will also lose your bet because Arsenal didn't win by the margin specified in the handicap.
Remember when betting on the handicap draw, you're betting on the margin of victory and not the actual goals scored, e.g., Arsenal win of 2-0, 3-1, 4-2, etc.
Combining Two of the Three Possible Outcomes
You can bet on two of the 3 possible outcomes using a Double Chance bet. Accordingly, you can bet on:
- 1X: Home team wins or draws
- 2X: Away team wins or draws
- 12: home team or away team wins
By betting on 2 outcomes of the match, your chances of winning will be higher.
However, this also means that the odds will also be lower than in a regular 1X2 market.
Example: Using the match above, Man City and Southampton. The difference between a Double Chance bet and a 1X2 bet will be clearly shown below:
- 1X (Man City or Draw) – Odds of 1,083. Winnings will be $108.30 for a $100 stake
- X2 (Draw or Southampton) – Odds of 3.20. The possible return of $320
- 12 (Man City or Southampton) – Odds of 1.20. The possible return of $120
How to Calculate Your Payout for a 1X2 market
Example: Let's say you backed Man United to beat Chelsea with a stake of $100 at an odds of 2.88.
Step 1: Calculate return excluding commission
Calculation formula: Odds x Stake = $ return
Compare in our example: 2.88 x 100 = $288
Therefore if Man United won, your bet would return £288 - including stake, with a £188 profit.
However, if you place bets at the betting exchanges, you will not incur profit in the odds. But, on the other hand, you will incur a commission in the profits.
Step 2: Calculate return with the commission
Formula: ((Stake x (Odds -1)) x Commission rate = commission
Print our example: ((100 x (2.88 -1)) x 2% = £3.76 commission
So the commission you will have to pay is $3.76, which means your actual profit will be $184.24.
The above article is all our sharing about the concept of 1X2 betting and how it works. From there, you can see that this is an extremely simple and straightforward bet.
Besides, you probably have a good understanding of what 1X2 betting is and how your payout is calculated. So give yourself the best chance of making a profit in this betting market today!