A '1x2' market is what is known as a win-draw-win market. So, you're placing a bet on a team to win the match where there is also a possibility of a draw. This means the market has 3 outcomes, team 1 wins, draw, or team 2 wins. This market will most likely be settled after the conclusion of regular time.
If a match is a best of one or a best of two, where a draw is possible, then the 1x2 market will be able to be bet on.
If you bet on one team to win, that team must win the match for the bet to win, if it's a draw or the other team wins, then the bet is a loss.
This is different to the "Draw no bet" market where if it's a draw at the end of play, your bet will be refunded.