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Betting on the outcome of a sporting event makes it more exciting. After all, you’re probably already watching your favorite team, wouldn’t a few pounds on the outcome increase the excitement? If you said yes, then you’re not alone. Today, sports betting in the United Kingdom is big business. Everything from cricket, football (soccer to some), to the latest rugby game are opportunities for bets.
Unlike many parts of the world, the UK has a fairly relaxed policy toward betting. The industry is heavily regulated but not illegal. The UK government seems concerned with reducing the undesirable effects of sports betting (such as game fixing) instead of banning it outright. There are restrictions however such as anyone having a direct involvement in the game, cannot bet on the outcome. This makes a great deal of sense since it’s easier to throw a game than it is to win.
Sports betting in the UK favors the fractional odds method as opposed to moneyline odds (favored by Americans), and decimal odds (found in mainland Europe and Australia). The types of odds shown make no difference in the payout. It’s just a different way to say the same thing. For example, an even money bet in the UK is shown as 1/1. That same bet in America would have a moneyline of +100 and decimal odds of 2.00 in France.
The sports betting odds match the expectation of the sports team. If the team is expected to lose, you get odds to match the risk you’re taking. This means a winning bet of £10 with 4/1 odds gives you £40 in profit. As expected, bet on the favorite to win and you’ll have to wager more than your expected win. So odds of 1/4 pay £10 for every £40 wagered.
Besides betting on the outcome of a single sporting event, multiple sporting bets are popular in the UK. It’s a single wager tied to several sporting events. Usually all wagers must win for you to win the multiple bet. Any loss voids the entire bet and you lose. Betting pools are another popular sporting bet. This is usually done with a group of people (such as co-workers). Several bets are placed and the winnings (if any) are then divided among the people in the group. The house will take a transaction fee as a service change for pools.
The house can either be an online site, or an offline sports book / casino – there are multiple legal ways to place bets, and one does not have to look very far.
No matter what bet you make, may you win and have fun at the same time. Good luck!