Moneyline Betting | 1X2 and Other Similar Bets

Sports betting is popular in many different countries, including the Philippines, since sports fans can use it as a way to show support to their teams while also having a chance of winning money. Most sports fans place simple bets focusing on which team or player will win and this typically takes the form of moneyline betting or 1X2 betting.

What is Moneyline?

A moneyline bet is a bet on the outcome of an event and it comes as both two-way and three-way moneyline where the main difference is that the former lacks a bet on the draw outcome. This is one of the most popular sports bets and the most available betting market worldwide as it’s easier to set up odds on which team or player will win than on more niche events.

 The term moneyline is widely used to denote the three-way or the 1X2 bet but other sportsbooks tend to use the term for two-way moneyline which is more similar to other sportsbooks’ double chance market. In this article, we’ll treat this market as the same as the 1X2 market and two-way moneyline as the draw no bet market.

Moneyline and Similar Markets

1X2 Betting Market

The 1X2 betting market is a betting market that consists of three selections, with Home being “1,” draw being “X”, and Away being “2.” The terms “Home” and “Away” take from the fact that one team in typical sports events are playing in home turf or the place they’re representing while the other is from elsewhere. As such, “1” and “2” can be replaced with more specific team names or even individual athletes for non-team-based sports.

This market is arguable one of the simplest bets to understand but isn’t the easiest one to win in. Most bettors will typically have knowledge on how well their teams and their competition performs and place their bets accordingly while some will do some research first before placing bets. Others even bet without knowledge of the teams and set up parlays with a small number getting lucky and winning a few hundred thousand.

This format is mostly used in soccer events since soccer is an extremely low-scoring game where both teams can even end a match without successfully scoring a single goal and ending the match in a draw.

Draw no Bet or Two-Way Moneyline

Draw no bet is extremely similar or is essentially the same as that of the Two-Way Moneyline bet. This makes betting somewhat less risky than when using the three-way moneyline bet. This is because any matches that end in a draw result in all bets being pushed, so there’s less risk of losing money.

Most sports events, including esports, use this format since draws were less likely to occur in these games thanks to overtimes that force one participant to be a winner. Draw no bet mostly appears in soccer matches, allowing bettors to get their bets back when the match ends in a draw. In most other sports, there is no draw no bet and two-way moneyline is used as the moneyline market.

The different sports that typically have two-way moneyline markets are the following:

In certain esports titles, the two-way moneyline bet format is also used for bets on which team will score the most kills.

Double Chance

Double Chance is a betting market that’s far easier to win in than either 3-way or 2-way moneyline mainly because bettors will bet on two outcomes instead of one. The different bet options are the following:

Because bettors can bet on either team winning, football bettors will only need to home that a draw won’t occur so they’ll be guaranteed a win. The only problem with this bet is that the odds are lower for all outcomes than what moneyline typically has. This is because there is less risk in this betting market so sportsbooks won’t typically allow bettors to win a lot of money easily.

Winning Margin

This market isn’t exactly that similar to moneyline but it does involve betting on which team will win, except harder. In this market, bettors will need to place a bet on which team will win AND by how many points against the other team. Winning Margin involves both moneyline and a goal-based bet.

In Pinnacle, a Winning Margin bet will offer more bets backing the favorite and offer two draw bets which are a bet on any score winning and still ending in a draw and a bet on a draw without any goals.

Handicap

Handicap essentially gives underdogs a chance to technically win against the favorite by automatically assigning them a score and giving the favorite a negative score. Pinnacle’s Handicap moneyline bets are offered as separate bets under a certain handicap score, including the following:

In these bets, the favorite is handicapped by 1, 2, 3, or 4 points. If the favorite wins a match with a goal of 2 while the opponent wins with a goal of 1, then a Handicap favorite – 1 bet on the favorite loses as the match technically ends in a draw and the favorite would have won if they had a goal of 3.

Conclusion

The moneyline betting market is an extremely popular sports betting market where bettors can typically show support to their teams by betting on them. Different sportsbooks and sports will typically have different variations of moneyline, with two-way being the most common for most sports and three-way being more popular for soccer.

Start placing moneyline bets at Milyon88’s sportsbook today. Make sure to research on how well certain teams perform to increase your chances of winning. You can even try out using double chance to get more frequent wins, especially when attempting a parlay win.