English Moneyline is an American term equivalent to the European concept of "match market." It means that the bet is placed on the outcome of a game or match. The labels "1" and "2" refer to the results: 1 for the first opponent, 2 for the second.
The 12 Moneyline market is used in sports, events, and matches where only two outcomes are possible, and a draw is excluded.
A clear and simple example of a sport where only the 12 Moneyline market is available is tennis, where only a win by the first or second opponent is possible. 12 Moneyline bets are also offered for final results, including overtime or shootouts, in sports like hockey, basketball, and American football.
If the game ends in a tie at the end of regular time when using the 12 Moneyline market, your bet remains active until a winner is determined in overtime, extra innings, or a shootout.
This lower level of risk is often reflected in the betting odds. Theoretically, when betting on the 1x2 market, you have a 33% chance of winning, as there are three possible outcomes. By eliminating the draw and choosing between two outcomes, the chance of winning increases to 50%. Therefore, odds on such markets are lower due to the reduced risk for the bettor and increased risk for the bookmaker.
Pros and cons of 12 Moneyline bets:
- Moneyline bets are the most popular, and every bookmaker, even with a modest offering, includes Moneyline bets.
- Moneyline bets usually offer the highest possible betting limits and good market liquidity for most sports and leagues, making them equally suitable for both professional and casual bettors.
- In some sports, such as tennis, depending on the bookmaker's rules, if only one set is played and the athlete wins it but then withdraws due to injury, the loss will be attributed to that player, and thus to the bet on them.
- Moneyline odds are the most carefully and accurately evaluated compared to other sports betting markets. Therefore, they are less suitable for finding overvalued odds (value bets).
Conclusion on 12 Moneyline bets:
It is reasonably believed that in this type of betting, the probability of winning is higher than in bets with three possible outcomes. To win the bet, the selected team must win the game, regardless of whether it happens in regular time, overtime, or after penalties or shootouts.
If the game is tied at the end of regular time, the bet is not settled yet; it's neither a loss nor a refund—wait for the match's outcome after overtime, etc.
P.S. There is a separate 1x2 Moneyline market, where a draw is also included, marked as "X." The results of bets are calculated based on the outcome of regular time (four quarters in basketball, three periods in hockey, or nine innings in American football). This market is often called the "main outcome."