The United States and the United Kingdom are the two largest sports betting markets. While it is widely recognized that these two markets exhibit substantial gambling activity, many critical distinctions should be noted, especially for Americans intending to register with a UK sportsbook or vice versa.
The money line, utilized in the United States, provides the odds for both the favorite and the underdog to win. Plus and minus symbols denote the odds, indicating favorites (-) and underdogs (+).
For example, the Philadelphia Eagles’ NFL odds may be -150 if they are a slight favorite against the Kansas City Chiefs. This indicates that a wager of $150 will provide a profit of $100. In the case that the Eagles were +125, you would gain $125 on a $100 wager.
Currently, the decimal format is the predominant method for expressing betting odds in the UK. Your return is calculated by summing your investment with your winnings; hence, the decimal betting odds system simplifies this computation. To commence, multiply your wager by the specified decimal value. For example, an investment of $100 at odds of 1.70 would yield a total return of $170, consisting of your initial $100 deposit and $90 in profit.
The predominant form of sports wagering in the US is point spread betting, which is gaining traction in the UK as handicaps or Asian handicaps.
For example, If you are not inclined to accept the 1.20 odds ($100 to win $50) on Manchester City’s victory against Tottenham at sportsbooks available online, you may opt to bet on a handicap. A potential handicap is Manchester City -1.5. You are betting that Manchester City will win by at least two goals; thus, the odds will be significantly higher than betting on the straight moneyline previously mentioned.
Spreads in the US work similarly. If the LA Lakers spreadline is set at -6.5 versus the Chicago Bulls, you would need them to win by 7 or more points. Set spread lines (ATS) are usually priced at -110 in American sports.
The prevalence of various sports constitutes a primary differential between sports bettors in the US and the UK. Soccer, commonly referred to as football, is arguably the most popular sport in the UK, and sportsbooks targeting UK clients frequently provide exclusive promotions centered on the English Premier League, World Cup, and other football tournaments. The market for sports such as darts is virtually nonexistent in the US, as markets like tennis, darts, and even horse racing enjoy significantly more popularity in the UK.
Basketball, American Football, and baseball are the predominant sports in the United States. These are distinctly dissimilar to the UK’s favorite sports. Conventional football matches have designated finish times; however, American sports often incorporate overtime periods and frequently extend an additional hour beyond their scheduled conclusion.
Sports betting regulations in the UK and the US exhibit significant disparities. In the UK, diverse forms of wagering have historically been legal and acceptable. The United States has traditionally exhibited greater conservatism.
A streamlined approach has characterized the legality of contemporary betting in the UK. In 1961, the Betting and Gaming Act legalized betting in the country. In 2005, the Gambling Act was enacted, legalizing online betting.
In the United States, the narrative of gambling has predominantly been fragmented and prohibitive. The 1992 legislation known as PASPA permitted sports betting exclusively in four states. The majority of individuals were required to travel to Las Vegas or engage with clandestine bookmakers to place bets. In 2018, the Supreme Court annulled PASPA, allowing each state to establish its own regulations for sports betting. Currently, 37 states and Washington D.C. have authorized sports betting.
In the United Kingdom, betting companies remit 15% of their revenue as tax. The tax rate in the United States varies by state. Pennsylvania imposes a 36% tax on sports betting earnings, but Nevada’s sports betting tax is 6.75%. Moreover, individual bettors in the US may be subject to taxation on winnings, contingent upon the net profit. Since 2001, individual winners in the UK have been subject to taxation.
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