1×2 is a common betting market in which a punter places a bet on only one of three possible outcomes of the match. 1×2 bets are offered in matches, where the draw is possible.
Such bets are generally made for a 90 minutes play (regulation time). Many companies also offer 1×2 markets for a definite part of the match, for example, on the outcome of the first or the second half in football or a quarter in basketball. Bookmakers would offer “12” bets – victory of one competitor or of the other – in sports, where a draw is impossible.