Outcome bet — the simplest type of bet in a bookmaker’s office, the winning of which is determined by the result of a sporting event-the victory of team(player) 1 or team 2(player), or a draw (if possible).
Bet on the outcome due to its simplicity is one of the most popular bets in sports betting. This bet does not require the player to have much knowledge of a particular sport, as well as numerous theoretical studies on the topic of strategies and calculating the probabilities of events in bookmakers. It is enough just to bet on one of the teams: if it won — excellent, lost-you will be lucky next time.
Recording format and types of bets on the outcome
In bookmakers, the bet on the outcome is traditionally written as 1X2, where:
- 1 — victory of the first team (shown on the left in the BC)
- X-draw
- 2 — the second team wins (shown on the right in the BC)
It is important to note several points:
First, team 1 is displayed on the left and it is always the team playing on its own field (the place where the sporting event takes place), and team 2 is displayed on the right and it is always the guests (playing away).
Of course, there are exceptions: for example, when both teams play away, or vice versa, two teams play in their hometown, but this happens quite rarely and, as a rule, the bookmaker additionally informs players about this. Also, in some North American sports, there is a reverse 2×1 record format — where the “away” team is displayed on the left side, and the “home” team is displayed on the right, this should be taken into account when setting a bet on the outcome.
Secondly, a draw is not present in all sports. In some disciplines, this type of outcome is simply impossible, for example, in tennis. At the same time, the record format is preserved, but there is simply no coefficient under the “X” designation.
Third, there is a type of bet on the outcome, which is called “double outcome” or also “double chance”, in those disciplines where a draw is possible.
The double outcome bet has a slightly different recording format-1X 12 X2, where:
- 1X — Team 1 wins or draws
- 12 — team 1 or team 2 wins
- X2 — Team 2 wins or draws
Of course, the odds for a double outcome bet are slightly lower, since the probability of a player winning is higher.
Bid calculation and odds
Let’s consider a classic bet on the outcome using the example of a real football match Atlanta — Valencia
The coefficients are:
- victory of the first team (P1) – 2.05
- draw — 3.74
- second team wins (P2) — 3.68
Let’s say the bid is$10.
To calculate your winnings, multiply the amount by the bet coefficient.
In total, if the first team wins, the win will be 10*2.05 = 20.5 $; in the case of a draw — 10*3.74 = 37.4 $; in the case of a victory of the second team — 10*3.68 = 36.8 $. It is not difficult to guess that the chances of a draw are the smallest, and the second team wins less than the first.
Now let’s look at a double bet on the example of the same football match.
As expected, the odds are lower than when betting on a single outcome:
- 1X — 1,33
- 12 — 1,32
- X2 — 1,88
The conditional bet amount is still the same $10.
In total, the win in case of a victory of the first team or a draw will be 10*1.33 = $ 13.3; in case of a victory of the first or second team-10*1.32 = $ 13.2; in case of a victory of the second team or a draw-10*1.88 = $18.8.
It is important to note that when betting on the outcome of a football or hockey game, the bookmaker takes into account only the main time of the game, the extra time is no longer taken into account, unless otherwise specified in the rules of the office.
There are also bets on the outcome of a certain period of time — it can be a half, a whole match, or a specific period of an event, for example, the first 5 or 15 minutes of a match, or from 45 to 60 minutes. This type of bet is most often referred to as an” Intermediate Outcome “or”Outcome per Minute played”.