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US Gambling Sites / Betting Guide / 2 Way Bet: What Does 2 Way Mean in Betting?

2 Way Bet: What Does 2 Way Mean in Betting?

Publish Date: 24/01/2024
Fact checked by: Josh Schwartz

There are many different types of bets you can place on sports events in this day and age. Each of them will have their own strengths and weaknesses that you need to consider before using them.

The 2 way bet is comprehensive. It covers sports events that will only have two outcomes. For example, for the Super Bowl, there can only be one ultimate winner and as a result there are no draws allowable. This article looks at the ins and outs of using the two way bet as part of your sports betting strategy.

Most Important Facts About 2 Way Bets

  • Countless two way bet markets
  • Simplifies your selections
  • Minimizes your downside
  • Easy to understand

Defining a Two Way Bet

With a two way bet, you have two options to choose from for your bet. Some sports betting sites will call a 2 way bet a “Money line”, “Draw No Bet”, “Puck line” or a “Winning bet”. This market works for events that cannot have a draw or if there is a draw, it will be discounted and your money will be returned to you. While it is most popular for the likes of tennis and basketball, you can eliminate the draw for many other sports using the two way bet.

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Example of a Two Way Bet

If you want to better understand what a two way bet looks like, here is a worked-out example for you. It involves a game between two NBA teams;

  • New York Knicks +210
  • Boston Celtics  -120

In this case, the Boston Celtics are the favorite to win the fixture. If you are betting on the Celtics, you will need to bet $120 in order to win $100. This means for each $1 that is bet, you will get a return of $0.833. You calculate this figure by dividing the $100 by your stake of $120.

If you feel that the New York Knicks are going to be victorious, then you will get a return of $210 if you bet $100 on them and they successfully are victorious. If this was a game where they could be a draw, for example in a soccer game, then it would be deemed to be a push and your $100 stake would be credited back into your account.

There are added considerations you could bet on too. For instance, if you can pick the first goalscorer and the correct game score, you could raise the stakes for better rewards. If this bet option is enticing, please read our guide for the classic example of a scorecast bet.

How to the Two-way Bet Works

From the name, you are more like to deduce that 2 way match betting allows for only two possible outcomes to any event or match. Here is how they are represented:

  • Bet on team A winning the match
  • Bet on team B winning the match

With this example, this bet is very simple to grasp and to use in practice. You will find this bet present where either teams or individual players are competing head to head in a single match event, a final or anything of that sort. In other words, you will find the 2-way bet in any event where a clear winner or clear loser is decided, giving you a nice and simple 50-50 chance of winning. Since this bet is such an easy bet with a high win percentage, you will also find that the odds posted for these kinds of bets are usually on the low side.

Key Considerations when using a two-way bet

Just like with all types of bets, there are certain things you need to consider when implementing a two-way bet. While the process of his bet is very straightforward, there are certain circumstances and scenarios where it is good to use and other casinos when it should be avoided.

Potential for underdogs

If you are looking to place a bet on the underdog of the fixture, it is a good idea to have done your research and have some compelling reason as to why you believe it is going to be profitable placing a bet on them to win the fixture. Otherwise, you should hedge your wager as laid out by our Surebet example.

For the most part, the team that is playing at their home venue is going to hold a significant advantage in a fixture. However, it is important that you study the two team’s performance levels when they are playing at home or away, which ever corresponds to this fixture. Certain teams somehow seem to go against the norm and perform better away from home

This could present you with a potential opportunity because the odds of the home team are generally going to be shorter than if they were playing away. Some teams may have a particularly good away record when it comes to certain venues, which is also something that should be considered.

Considering recent form and fixtures

Of course, you should look at recent form and see how the two teams are performing. One team may be winning comprehensively every game, whereas others may be winning a lot of games but just scraping through them.

  • There is often a lot you can deduce by reading through the lines of the final scores. Some fixtures also take on lives of their own and current form gets thrown out the window. This is usually the case for rivalry or derby games. These are fixtures that the players and fans look forward to every year and players can often pick themselves out of a slump thanks to the motivation of this given fixture. Naturally, you will want to check the injury and suspension reports to see who will be playing
  • If a team has a particularly difficult run of fixtures on the horizon, they may decide to rest some of their better players. This could present an opportunity for bettors to take advantage of when the sportsbook does not price this into their odds
  • If one team is fighting to avoid relegation, they will often play like their lives depend on it compared to their opponents who may not really have anything to play for. This is when you can see the favorites often being upset
  • Finally, certain teams may have quick turnarounds for games and their players could be fatigued, especially if they are coming off long trips for away fixtures. If a team is way down the rankings but are a lot fresher than their opponents, this can present a great opportunity for you deploying a two way bet.

Different two-way bet markets

A two way bet is not just confined to picking the winner of a given fixture, there are also many sub markets that also hold the characteristics of a two way bet. For example, in soccer, there will usually be a market for “Both Teams to Score”.

You only have two options to be on here - yes or no. Therefore, you can categorize it as a two-way bet. Therefore, there are many different two-way bet markets that are not specifically related to the outcome of a given game.  Sometimes you will even be able to combine these different two-way bet selections together into a combo bet such as a double or treble. This will depend on what sportsbook you are using. Check out or Trixie betting strategy for something different to the two-way bet.

In horse race betting, betting the trifecta is popular, but it's way more advanced than merely picking a winner. In fact, you have to pick the first three places accurately. In this instance, you would need to make use of a special Tricast bet calculator to help you work out your odds. This just goes to show that the sports betting market is a hugely diverse field that offers options for every risk level.

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Try To Win Your 2 Way Bets

It is important that when you are looking for a sports betting site that they usually offer decent terms for your two way bets. This means that for a football game that may go to extra time and/or penalties before a winner can be picked will have a two way bet winner market that will reward you no matter if your selection wins inside of the normal 90 minutes or if they win it during extra time or penalties.

A lot of sports betting sites will try to cut corners and saw that the bet is void if your selection does not win the fixture inside of the normal time of 90 minutes. Luckily, you can check out our comparisons of sports betting sites and find one that suits your specific needs and gives you plenty of choice when it comes to making two way bets on your favorite sports. It's also worth checking if you can pick up a bonus to boost your bets, such as the Betfair welcome offer and 888sport deposit bonus that both match your initial deposits.

2 Way Bets Are the Way to Win

As you have seen through this article that dives into the two way bet, there are many different variables you need to consider. The bet type is very straightforward to us, but it can also come in many different guises. This is very useful, as you can pick and choose which two way bet markets are best suited for your information and our needs for a given fixture.

You don’t have to be stuck in the same approach all of the time. For example, you may decide to bet on the two way bet both teams to score market for one fixture and then use the traditional two way bet winner market for another fixture. By being flexible, you are maximizing your chances of being profitable when using the two way bet market.

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