If I place a bet (its with centrebet) and choose
+1 Handicap for a soccer match. If that team loses 2-1,
under the handicap with draw option, do I still win?

If it's called "Handicap with draw", that means that you can back a draw. If that's the case, then I suppose you would lose in that example.

doesn't the +1 indicate that you can lose by 1 goal and still win the bet?

If you bothered to click the help control next to a game, your question would be answered.


"Pay on handicap result after normal time. Note: If the team at -1.0 win by one goal, result is Handicap Draw."


https://secure.centrebet.com/?compList[]=84408&sptid=1

Nope. The scores would be drawn, and seeing as you can back the draw with this option, then you would lose your bet.