1X2 is the foundational football betting market — a three-way bet on the match result at 90 minutes. The notation comes from traditional football pools: 1 for a home win, X for a draw, 2 for an away win. It is the most widely traded market in football and sets the tone for all derivative markets.
Reading 1X2 odds: prices are displayed in the order Home / Draw / Away. In a balanced match, all three prices might be 2.50 / 3.20 / 2.80. In a match with a heavy favourite, you might see 1.30 / 5.00 / 10.00. The shortest price indicates the most likely outcome in the bookmaker's pricing model.
Implied probability from 1X2 odds always sums to more than 100% due to the bookmaker's margin. Summing the implied probabilities reveals the margin: for 2.10 / 3.40 / 3.80, the total is 47.6% + 29.4% + 26.3% = 103.3% — a 3.3% margin.
Derivative markets all stem from the 1X2: Draw No Bet removes the draw, Double Chance combines two outcomes, and Asian Handicap shifts the equilibrium with a goal advantage. All other football markets (totals, both to score, correct score) are independent of the 1X2 result market but often move in correlation with it.
Example
Arsenal (1) at 1.90 / Draw (X) at 3.60 / Wolves (2) at 4.20. You back Arsenal at 1.90. Arsenal lead 2-0 at half time. The in-play 1X2 now prices Arsenal at 1.10. You are in a strong position and consider cashing out at a guaranteed profit, or hold for the full return if Arsenal maintain the lead.