Decoding 1x2 Betting: Understanding the Three Possible Outcomes in Sports

1X2 betting, also known as three-way betting, involves wagering on the outcomes of a match or event as either a home win (1), a draw (X), or an away win (2). It is a famous and straightforward betting market, particularly in sports where a draw is possible.

Unlike Asian handicaps or totals, 1X2 betting does not aim to balance out perceived differences in quality between teams or players. Instead, it aims to provide odds that reflect the actual probabilities of each possible outcome, taking into account the bookmaker's margin or exchange commission.

Calculating the payout for a 1X2 bet depends on the odds offered by the bookmaker or exchange, and it can be done by multiplying the wager amount by the corresponding odds for the chosen outcome.

To calculate your payout for a back bet on a 1X2 market, follow these steps. Let's consider an example where you back Liverpool to beat Manchester City with a stake of ₦100,000 at odds of 2.88.

Step 1: Calculate the return, excluding the commission

Multiply the odds by the stake to determine the return. In this example: 2.88 * 100,000 = ₦288,000. If Liverpool wins, your bet will return ₦288,000, including the stake, resulting in a profit of ₦188,000.

However, since betting exchanges don't include a margin in the odds like bookmakers, you must subtract the commission from the profit.

Step 2: Calculate the return with the commission:

To calculate the return with the commission, use the formula: ((Stake * (Odds - 1)) * Commission rate). Let's consider the commission is equal to 2%. In this example, it would be ((100,000 * (2.88 - 1)) * 2% = ₦3,760 commission. Therefore, you would be charged ₦3,760 commission, resulting in a return of ₦284,240 - a profit of ₦184,240.

If the match ends in a draw or a Manchester City victory, you will lose the bet and your ₦100,000 stake.

Once you have learned how to calculate betting margins, you can compare margins across different bookmakers and exchanges to find the best value odds.

You can also lay the result like a bookmaker when betting on a 1X2 market. For example, let’s say you lay Man City against Liverpool with a stake of ₦100,000 at an odds of 2.68.

Similarly to calculating your payout for a back bet, there are two stages for a lay bet.

Step 1: Calculate the return, excluding the commission:

Multiply the odds by the stake to determine the return. In this example: 2.68 * ₦100,000 = ₦268,000. Therefore, if the game ends in a Liverpool win or a draw, your lay bet would win, resulting in a ₦168,000 profit (before commission).

Step 2: Calculate the return with the commission:

The next stage is calculating your lay bet profit with the exchange commission factored in. In the example, consider a 2% commission on net profits; you can use the following calculation:

Stake * (1 - Commission rate) = profit

In our example: ₦168,000 * (1 - 0.02) = ₦164,649. Therefore, you would be charged ₦3,351 commission, resulting in a profit of ₦164,649.