I want to create a condition for an IF() formula based on part of the text in
an adjacent cell.

For example:

So if B1 contains the phrase "version 1" return one value and return another
if it doesn't have it.

But I don't mean B1 is exactly equal to "version 1" but rather that it
contains "version 1" someone in the text of that cell. Is there some way I
can accomplish this?

Effectively I want it to be able to test if B1=*"version 1" where * equals a
wildcard like on a search engine.