A thrower balances two pennies on two outstretched fingers and then tosses them 1️⃣ high in the air to see how they land. The thrower wins with double heads and loses with double tails. 1️⃣ Other men in the crowd cover his bets (bet against him), with a "boxer" handling the money and keeping track 1️⃣ of the bets.
Two-up - Wikipedia
The promotion itself is very simple to understand. If the team you have bet on goes 1️⃣ 2 goals ahead at any point in the match you get paid out as a winner. Regardless of if they 1️⃣ go on to win, draw, or lose the match. For example: in a match between Arsenal v Tottenham ,you place 1️⃣ a back bet on Arsenal to win the match.