The U.S. and the U.K. are the two biggest sports betting markets in the world. Both are known to have many sports lovers, but there are some differences when it comes to sports betting.
Different favorite sports
In the U.K., soccer (known as football in the country) is the favorite sport. Fans love betting on competitions like The English Premier League and the World Cup. Horse racing, tennis, and darts are also popular in the U.K.
In the U.S., the most popular sports are basketball, baseball, football and hockey. Most U.S. sportsbooks have special promotions for these major league sports.
Since the launch of legal sports betting in 2021, Michigan has become one of the biggest markets in the U.S. When betting in Michigan, you can wager on all the major sports and leagues.
Different odds calculations
Knowing how betting odds work is essential, and the U.K. and the U.S. calculate odds in different ways. The U.K. uses fractional odds, which are represented by two numbers separated by a trailing slash, such as 4/1. Calculating 4/1 as 1/(4+1) = 0.20, there is a 20% chance the event will happen. For every £1 you bet, you will win £4.
The U.S. uses the moneyline system. Favorites and underdogs are given odds to win. The difference between the odds for the favorite and underdog widens as the possibility of the favorite winning increases. A favorite team in a match might have -130 odds. If you bet $130, you would win $100. If the underdog team was +130, you would win $130 with a bet of $100.
Your chances of winning in sports betting are higher than winning a lottery, where the odds don’t allow for a great chance of winning.
Different forms of betting
Handicap betting is effectively giving one outcome an advantage and another outcome a disadvantage, so it makes betting on a game more even and interesting. Soccer is one of the most popular sports to apply handicaps. Let’s say Newcastle starts a game against Arsenal (-0.5) with a half-goal advantage (0.5). If you back Arsenal and they win the match, you win your bet. If the match ends in a draw, you lose your bet. If you back Newcastle, you will win the bet if they win or draw the match.
Point spread betting is the favorite form of sports betting in the U.S. If you bet on the Patriots versus the Colts in a game and the Patriots are the favorites, you could bet on the Patriots at -2 or the Colts at +2. If the final score was 46-45 to the Patriots, and you bet on the Colts at +2, with the handicap, the score would be 48-45 to the Colts.
Different legal status
Legal sports betting has been an option in the U.K. since 1961. The betting status in the US still varies. It is now legal in many states, and more will be legalizing it in the near future.