And 1 is a brand, but in Basketball games it occurs when a player shoots, gets fouled, and the ball goes in the hoop. Because he is fouled he is awarded 1 foul shot. When he makes this foul shot it is called an and 1 because he added another point to the score board after the foul.
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its when your taking a shot and your fouled but the points are good. so in theory you are saying "and one" as if you get one more shot to make a 3pt play