To understand this form of betting, remove any ideas of multiplication. The number 1 denotes the home team in a fixture, while the X signifies a draw and the 2 is for a loss. With three possible outcomes highlighted in 1X2 betting, this is why some punters will also refer to it as three-way betting.
A Staple of Classic Betting
Prior to the days of online betting, high-street bookmakers used 1X2 to mark the difference between wins, draws, and losses. It was a clear system and helped to avoid mistakes or confusion. The terminology is still used today because it is a classic throwback to the old days
To provide a clear outline as to how it works, here is an example: Nottingham Forest will be playing at home against Blackpool. Focusing on the home team, a bet for Nottingham Forest to win will be designated with a 1.
Nottingham Forest have been given odds of 2/7 to win at home, which means that a 1 bet with a £10 stake will return £12.86, which equates to profit of £2.86. The low profit is a reflection of Forest’s overwhelming status as favourites to win the match.
The second option is to bet X on Nottingham Forest, which is to predict that the side will draw at the City Ground, unable to get past a battling performance from Blackpool. Sticking with a £10 stake, an X bet would this time yield a return of £50. When you subtract the £10 stake, the profit for that successful bet is a healthy return of £40.
Option number three is to opt for a 2 bet against Forest, which would mean that you are backing Blackpool to win away from home. At odds of 10/1, a £10 stake would earn a huge profit of £100. For the most part, betting on the 2 offers the best odds because the away team is unlikely to win.
Evolution of 1X2
Most football punters still favour the classic betting approach of 1X2. And with a vast selection of betting options available from online bookmakers, it is notable that most punters are not persuaded by Asian handicaps are newer types of betting, such as draw no bet and under/over.
In the case of Asian handicaps, this is a little surprising because these bets favour the bettor as opposed to the bookie. However, the appeal has been limited among some players because the value of winnings is much more convincing in 1X2 betting. Asian handicaps require greater patience and larger stakes to be as effective in the short-term. The value of these bets resides in their long-term potential to build winnings.
Football punters are also remaining with 1X2 betting because now they have the potential to create huge accumulators that go far beyond the prospects of doubles and trebles. In rare cases, some players have managed to win thousands of pounds from mere pennies. And they had such substantial odds because 13 or 14 1X2 results were required for an overall victory.