With your ANDs you shouldn't have a FALSE value -2, until right at the end, e.g. with just 2 ANDs
=IF(AND(E2="In Play",F2="Closed"),3,IF(AND(E2="In Play",F2=" Suspended"),3,-2))
although it might be better with a combination of nested IFs and ANDs - try like this for the full formula:[Edited - thanks David]
=IF(E2="In Play",IF(F2="Closed",3,IF(F2="Suspended",2,IF(F2="Null",1))),IF(AND(E2="Pre-play",F2="Null"),-1,IF(AND(E2="Completed",F2="Closed"),2,IF(AND(E2="Pre-play",F2="Null"),3,-2))))
To avoid a long formula like the above you could create a table with all E2 possibilities in a column like K2:K5 and all F2 possibilities in a row like L1:N1 then fill in the required results in L2:N5 and use this formula
=INDEX($L$2:$N$5,MATCH(E2,$K$2:$K$5,0),MATCH(F2,$L$1:$N$1,0))