1X2 betting is also known as three-way betting, and simply refers to betting on a home win, a draw or an away win. Let’s take for an example the following match: Barcelona - Real Madrid. The home win is priced at 2.55. The draw is priced at 3.30 and the away win is 2.85. If you choose to bet on Barcelona to win, you have made a 1 bet. If you bet the draw you went for X, and if you went for Real Madrid you bet on 2.