When it comes to sports betting, there are numerous betting options available, but one of the most straightforward forms is 2-way betting. As the name suggests, this type of bet offers two possible outcomes, making it an easier and more accessible option for beginners and seasoned bettors. In this blog, we’ll dive into what 2-way betting is, how it works, and why it’s popular in the sports betting world.
What Is 2 Way Betting?
At its core, 2 way betting is a type of wager where you have only two possible outcomes to bet on. You choose between two sides, such as Team A or Team B, to win, or Player 1 or Player 2 to come out on top. There’s no possibility of a draw, which simplifies the betting process.
This form of betting is widely used in sports like tennis and basketball and even in certain soccer or cricket markets where a draw isn’t an option.
How Does 2 Way Betting Work?
In a 2 way bet, you essentially have a 50/50 chance of winning since there are only two possible outcomes. The most common formats for this type of bet are moneyline bets (as explained in the previous blog) and over/under bets. Here’s a closer look:
- Moneyline 2 Way Betting: In moneyline 2-way bets, you’re simply betting on who will win the match or event. For example, in a tennis match between Roger Federer and Rafael Nadal, you would choose one of the two players to win the match.
- Over/Under 2 Way Betting: Another popular form of 2-way betting is the over/under market. Instead of betting on who will win, you’re betting on whether a certain outcome (like the total score in a basketball game) will be over or under a set number.
For example, in an NBA game between the Lakers and the Warriors, the bookmaker might set the total scoreline at 200 points. You can either bet that the combined score of both teams will be over 200 points or under 200 points. Again, there are only two options.
Example of A 2 Way Bet
Let’s take a simple example of a basketball game between Team A and Team B. The 2-way betting market might look like this:
Team A: 1.90
Team B: 2.10
If you bet $100 on Team A and they win, you would win $190 (including your initial bet). If Team B wins, and you bet on them, you will receive $210. The odds reflect the likelihood of each team winning, and the potential payout is based on those odds.
In an over/under market for the same game, the bookmaker could offer:
Over 180 points: 1.85
Under 180 points: 1.85
If the final combined score of the two teams exceeds 180 points, you win the bet if you choose the “Over” option. If it’s below 180 points, the “Under” option wins.
2 Way vs. 3 Way Betting
One of the key differences between 2 way betting and 3-way betting is the number of outcomes you can bet on. In 3-way betting, there are three possible outcomes: Team A wins, Team B wins, or a draw. This type of betting is common in sports like soccer, where draws are frequent.
However, in 2-way betting, there’s no draw option, which makes it easier to bet since you’re only choosing between two outcomes. Many bettors prefer 2-way betting for its simplicity and higher chances of winning.
Sports Where 2 Way Betting Is Common
2 way betting is commonly found in several sports, including:
Tennis: Since tennis matches cannot end in a draw, 2 way betting is the standard betting format for the sport.
Basketball: Both NBA and college basketball often use 2 way betting for moneyline and over/under markets.
Boxing/MMA: Fights always have a winner (unless there’s a rare draw), so 2 way betting applies to these sports.
Baseball: In baseball, teams either win or lose, which makes it ideal for 2 way betting.
Cricket (Limited Overs): In shorter formats of cricket like T20s or ODIs, 2 way betting is used since matches must have a winner.
Advantages Of 2-Way Betting
- Simple and Straightforward: With only two possible outcomes, 2 way betting is much easier for beginners to understand.
- Higher Winning Chances: With just two options, you have a 50% chance of winning, making it appealing to those who prefer a lower-risk betting strategy.
- No Need to Worry About Draws: In sports where draws can happen, 2 way betting eliminates that complexity by focusing solely on who will win.
- Multiple Betting Markets: Besides moneyline bets, you can explore over/under and even prop bets that use the 2-way betting format, giving you more ways to enjoy betting on sports.
Disadvantages of 2 Way Betting
Lower Payouts: Since your chances of winning are higher in 2-way betting, the payouts might be lower compared to riskier bets with more outcomes.
Not Always Available: 2 way betting isn’t available in all sports, especially those where draws are common, like soccer.
Thoughts,
2-way betting is one of the simplest and most popular forms of sports betting. With only two possible outcomes, it’s easy for beginners to understand and can be applied to a wide range of sports, from tennis to basketball. Whether you’re betting on who will win or how many points will be scored, 2 way betting offers a straightforward approach with higher chances of winning.
Understanding 2 way betting allows you to enjoy a clear-cut, low-risk betting experience, making it an excellent choice for those new to sports betting or those looking for a more predictable way to wager.