In a 2-way bet, there are exactly two possible outcomes — and only one can occur. This type of bet is common in sports where a draw isn't possible, such as basketball or tennis, and is also frequently used in special bets.
How it works
You simply pick one of two competitors or outcomes. If your selection is correct, you win.
Example
Djokovic plays against Alcaraz — you bet on who wins the match. There are only two possible outcomes: Djokovic wins or Alcaraz wins.