What is Sports Betting? UK Guide to Odds, Bet Types & How It Works

Introduction to Sports Betting

Sports betting is hugely popular in the UK, from a flutter on the Grand National to a weekend football accumulator. But what exactly is sports betting, how do odds work, and what types of bets can you place?

This guide explains everything you need to know, in traditional British betting terms, with examples to help you get started.

A Brief History of Betting in Britain

• 1700s: Horse racing becomes Britain’s first organised betting sport.
• 1961: Betting shops are legalised, allowing punters to bet off-course.
• 1990s: The rise of the internet brings online bookmakers.
• Today: Mobile betting, in-play betting, and bet builders dominate the market.

How Does Sports Betting Work?

Sports betting has three simple components:

• Choose an Event – e.g. a football match, horse race, or boxing fight.
• Pick an Outcome – who will win, how many goals will be scored, or which horse will place.
• Get Paid at the Odds – if your prediction is correct, your winnings are calculated by the odds you took.
• Bookmakers set the odds based on the likelihood of each outcome, adjusting them as information or betting patterns change.

Popular Types of Sports Bets in the UK

Win Bet

A straight bet on your selection to win. Example: £10 on Liverpool to win at 2/1 returns £30 (£20 profit + £10 stake).

Each-Way Bet

Common in horse racing. It’s two bets – one on your horse to win, one to place. Example: £5 each-way (£10 total) at 10/1 pays out if your horse wins or places.

Accumulators (Accas)

Combining several selections into one bet for bigger returns. Example: A four-fold acca on Man City, Liverpool, Chelsea and Arsenal – all must win for a payout.

Over/Under Goals

Betting on whether total goals are over or under a set number (e.g. over 2.5 goals - Essentially you're betting on there being three or more goals).

Correct Score / First Goalscorer

Markets for predicting the exact scoreline or which player scores first.

Ante-Post Bets

Bets placed well before the event – e.g. backing a horse for the Cheltenham Festival months in advance. The benefit of this betting method is you usually get a much bigger price on your selection than on the day of the event itself. However, if your selection doesn't turn up (ie.non-runner, injured etc), your bet is a loser.

In-Play Betting

Betting while the action happens, with live odds updating in real-time.

Understanding Betting Odds in the UK

UK odds are traditionally fractional, like 5/1 or 11/4.

Fractional Odds Stake Profit Total Return 5/1 £10 £50 £60 11/4 £10 £27.50 £37.50 1/2 (odds-on) £10 £5 £15

Key Terms:

Evens (1/1): Win the same as your stake. Ie. Bet £10 pounds to win £10.

Odds-On: Favourite with shorter odds than evens. Some people refer to this as "buying money."

Long Shot: A selection with big odds, less likely to win but bigger returns if it does.

Essential Betting Jargon

NAP: Tipster’s best bet of the day.

NB: “Next best” tip.

Stake: The amount you bet.

Return: Profit + stake combined.

SP (Starting Price): The final odds of a horse when the race starts.

Example Betting Scenario

FA Cup Final – Chelsea vs Liverpool:

£10 Chelsea to win in 90 mins @ 2/1 → £30 return.

£5 Declan Rice to score first @ 8/1 → £45 return.

£5 e/w Correct Score 2-1 Chelsea @ 12/1 → Pays if Chelsea win 2-1.

If Chelsea win 2-1 with Rice scoring first, all three bets pay out handsomely!

Is Betting Legal in the UK?

Yes. Betting is legal and regulated by the UK Gambling Commission (UKGC).

Always:

• Bet with a licensed bookmaker.
• Look for the UKGC logo and licence number on the website.
• Use trusted operators to protect your funds.

Responsible Gambling Tips

• Sports betting is entertainment, not a way to make money.
• Set a budget – Only bet what you can afford to lose.
• Don’t chase losses – Accept that losing is part of betting.
• Use tools – Deposit limits, time-outs and self-exclusion are available on all UK sites.
• Get help if needed – BeGambleAware.org provides free support.

The Future of Sports Betting

• Mobile apps & in-play betting dominate the market, while the betting shop experience is changing rapidly with a huge focus on self-service betting terminals.
• Cash-out features let you lock in profit or cut losses.
• Esports and virtual sports attract new audiences.
• Bet builders allow custom bets within a single match.

Final Thoughts

Sports betting is a long-standing part of British culture, from the betting shop to modern mobile apps. By understanding odds, bet types and betting jargon, you can enjoy a flutter responsibly.

Whether it’s a small each-way punt on the Grand National, a Saturday football acca, or an ante-post Cheltenham bet, betting should always be fun – never more than you can afford to lose