There are various terminologies in sports betting that every newbie must understand. One of the most popular terminology in Bettingqq101.com Malaysia Online Sports Betting Site, Live in Play Bets that you must recognize is 1×2. So, what is the meaning of 1×2 in any kind of sports betting games? We will answer your curiosity and explain some important things about the term.
The 1×2 betting is also known as three-way betting, full betting, and match betting. This kind of betting is well-known in football and other sports in which a draw result is possible. Hence, this bet is very popular.
Meaning of 1×2 in Any Kind of Sports Betting Games
Each symbol in this term stands for every possible outcome of the game; the 1 refers to the home win, the x refers to a draw, and the 2 refers to the away win. Bettors may choose to back or lay the home win, draw or away win. This betting’s markets do not provide any handicap. However, the odds show the chances of each result that occurs.
Example of 1×2 Bet
We provide a random example so that you can understand the bet better. If you see the 1×2 bet in a sports betting website states (1) Arsenal -200, (X) Draw +300, and (2) Manchester United +500, it means that Arsenal is the favorite team and Manchester United is the underdog.
The 1×2 Bet Odds
Various online sportsbooks also offer bettors with no draw bets or double chance bets, reducing the number of possible results. It is essential for you to do some calculations to learn whether you will obtain a bigger return by splitting the bet among the regular 1X2 betting options or using the no draw double chance bets offered. Thus, before you place your wager, learn the calculations provided by those sportsbooks.
Calculating Payout for a Back Bet
Example: you back Chelsea to beat Liverpool with a stake of £100 at odds of 2.75.
The first step is calculating the return excluding commission. The formula is Odds * Stake = £ return. Thus, according to our example, 2.75 * 100 = £275. Hence, in case Chelsea won, your bet would return £275 – including stake, with a £175 profit.
The second step is calculating the return with the commission. The formula is ((Stake * (Odds – 1)) * Commission rate. For example, we use 2% as the commission rate. Thus, based on the example, ((100 * (2.75 -1)) * 2% = £3.5 commission. The return would be £271.5 – a profit of £171.5.
Calculating Payout for a Lay Bet
Example: you lay Liverpool to beat Chelsea with a stake of £100 at odds of 2.5.
The first step is calculating the return excluding commission. The formula is still the same (Odds * Stake = £ return). Thus, according to our example, £100 = £100. If Chelsea won or a draw occurred, your bet would win awarding you a £100 profit (before commission).
The second step is calculating the return with the commission. The formula is Stake * (100% – Commission rate) = profit. For example, we use 2% as the commission rate. Thus, based on the example, 100 * 0.98 = £98, meaning the return would be charged £2 commission. The profit would be £98.
That is the meaning of 1×2 in any kind of sports betting games. It is essential for you to understand this terminology and utilize it in sports betting. Now, are you ready to place your bet in football using this variant of bet?