TYPES OF BETS
1X2
1X2
This is the first market that ever existed. The entire concept of betting begun when the first private wagers were placed on the simple question: which side will win? In fact, at first the concept of a draw was not even included. Now, 1X2 actually represents the 3 outcomes: 1 for a win by the home team, X for a draw, 2 for the visitors. The premise of the prediction is also very simple. Pick out the result of a certain event. Nothing more, nothing less. The payout for a successful bet depends on the odds that you opted for.
Understanding the odds
For every market available for betting there is a team working behind the curtains. They are studying the circumstances at the time of a certain event and answer questions:
Which side is in better form?
Is it a game of prestige and pride?
Who is better performing at home? Away?
Which side works better offensively?
Which team has key players missing?
Which one of the adversaries is poor defensively?
What’s the weather forecast?
Are there major financial problems?
That’s just a sample of the questions asked. The responses are fed to algorithms that produce a percentage of chances for each result. So, when you see odds of the sort:
Home side @1.10:
It means that it is not only likely that the team will win. It is also possible that the margin of victory will be over 3 goals.
Away team @5.00:
The bookmaker actually considers the outcome a very unlikely one.
In general the higher are the odds offered, the less possible is the occurrence of the outcome.
There’s a sort of an unofficial rule of thumb that says that odds between 2.2 and 2.6 represent the actual outcome that the bookmaker themselves are expecting as most possible.
No matter what type of bet you choose to place, always keep in mind that nothing is certain and that there are no guarantees that you will win. It’s all a matter of probabilities, external influences and pure luck.