Best UK Betting Websites in 2026 — A Licensed-Only Comparison

Updated October 2026
Licensed
usAvailable in US
Fast payouts
18+ Only

27 October 2026 · verified against the Gambling Commission’s public register

Three balls of different kinds side by side on a wooden bench
Kalooki Sportsbook is operated by Kalooki Sports Book Ltd (company number 12938274), licensed by the Gambling Commission under account number 57730, and is a GAMSTOP member.

A bookmaker serving customers in Great Britain needs a Gambling Commission licence wherever it is based, and the Commission’s public register is the whole test of who holds one. The brands reviewed below all appear there; a foreign licence is no substitute, and no single operator is “the only” licensed one. What follows is a consequence-first comparison of ten licensed UK betting websites, the offers they publish and the rules the reader is paying into without always seeing them — a wagering cap, an in-play verification, a price whose margin is the only constant that never gets advertised.

Crypto & Anonymity at UK-Licensed Bookmakers

The phrase “crypto betting websites” turns up in most search results, but it meets a hard wall in Great Britain. The Gambling Commission’s identity-verification rules mean a customer cannot deposit or place a bet until name, address and date of birth have been checked, and that requirement does not relax for a coin deposit. No British bookmaker on the public register markets anonymous play, pseudonymous wallets or unhosted crypto top-ups; the licence condition applies before the first free bet, not just the first paid bet. A “best bitcoin betting websites” search therefore leads to offshore brands whose own terms describe a different market — one with no GAMSTOP cover, no approved dispute route and no Commission redress if a withdrawal stalls.

An empty football stadium with floodlight masts at dusk
Midnite's site cites Gambling Commission licence 101839 and shows in-play events, an acca builder, popular accas and price boosts with maximum-stake limits.

The honest reading: at a UK-licensed site, “crypto” describes a deposit rail only where the operator has chosen to support one, and the chain is irrelevant to the licence status. Identity still has to be confirmed, the £150 financial vulnerability threshold still applies, and the same withdrawal rules apply whether the deposit was a debit card or a token transfer. Anyone comparing “crypto betting websites” against licensed UK bookmakers is comparing two products from two different markets, and the comparison is almost always an unfair one because the protections on the licensed side are simply absent offshore. The rest of this page deals with the licensed side only.

Bonuses & Free Bets: What the “100% Bonus” Actually Costs

Every welcome banner says the same thing in different type. “Bet £10, get £10 in free bets.” “Bet £10, get £15.” “Risk-free first bet.” The marketing word is the part the reader remembers; the qualifying condition, the minimum price and the expiry are the part the operator remembers.

An empty courtroom with wooden benches in morning light
Unibet states it has operated since 1999, and its UK site is run by Platinum Gaming Limited, Gibraltar, under Gambling Commission account 45322.

A free bet is not a cash credit. The stake is rarely paid back on a winning free bet — the reader keeps only the winnings, and the headline value is best read as a ceiling rather than a gift. A “risk-free” first bet that refunds as a free bet when it loses is the same shape with worse optics: the stake is gone, the refund cannot be withdrawn, and the value of the refund sits somewhere below face value depending on the price the reader can find when they spend it. A 10x wagering cap came into force on 19 January 2026, so a £10 bonus cannot lawfully carry more than £100 of turnover requirement — a constraint that has compressed the most punitive terms but not eliminated them.

The offers on the reviewed set read like this. BetGoodwin’s sports welcome offer is “Bet £10 & Get £15 in Free Bets”, made up of a £5 sports bet, a £5 acca and a £5 Sub-Cover bet. Dabble’s welcome offer is “Bet £10, Get £10 in Free Bets” on a first deposit for new customers, with minimum odds applying, a 7-day free bet expiry and the stake not returned. Bet Ahoy’s welcome offer is the same shape — “Bet £10 & Get £10 in Free Bets” in a £5 sports bet and a £5 acca. Sporting Index runs a wider mixed package: a £10 fixed-odds bet at minimum odds of 1/2 unlocks three £10 fixed-odds free bets, three £5 Total Goals spread bets, three £5 Winning Favourites spread bets and a £1 Race Index spread bet; the qualifying bet cannot be placed in play or cashed out early, which rules out two of the easier ways to clear it. Each of these is the headline; the full term set is the price.

The consequence reading: the welcome banner is the cost of admission, not the prize. Treat every free-bet value as one to several bets that must be placed inside a deadline, at or above a stated minimum price, before any winnings are withdrawable — and treat the wagering requirement, where one exists, as the real arithmetic. The site that shows the terms plainly is rarely the one with the largest banner.

Payments & Payout Speed

A UK-licensed bookmaker cannot accept a credit card for gambling, including credit-card-funded payments through an e-wallet; debit cards and bank-based payments are not covered by that ban, and that is the line the cashier sits on. Beyond it, payment choice is set by the operator and varies more than the marketing suggests.

LiveScore Bet accepts debit cards (Visa and Mastercard), Apple Pay, PayPal, Pay by Bank (Open Banking) and Revolut Pay. Midnite accepts Visa, Mastercard, Apple Pay, Google Pay and Trustly, and links to GambleAware, GamCare, GAMSTOP and BetBlocker at the cashier. Betmaster accepts Visa, Mastercard, Maestro and V PAY, and its safer-gambling surface — deposit and session limits, time-outs and self-exclusion — sits in the same area. Fitzwilliam Sports advertises instant deposits and fast withdrawals alongside timeouts and deposit limits. BetMGM UK’s app, published by LeoVegas Gaming p.l.c., and the rest of the reviewed set draw from a similar spread.

The reader’s consequence: payout speed depends as much on the operator’s withdrawal queue and the payment rail as on the brand. A debit-card withdrawal that the operator releases the same day still has to clear the card scheme; an Open Banking or e-wallet refund is typically faster end to end. A “PayPal betting websites” search turns up sites that support it and ones that do not; the search is worth doing before the welcome offer is claimed, because changing the deposit method later often costs the bonus.

Live Betting & Cash Out

In-play betting is offered across the licensed UK market; the controls are the operator’s licence conditions and customer-protection duties rather than a statutory list. LiveScore Bet’s name is the in-play proposition; Midnite shows in-play events, an acca builder, popular accas and price boosts with maximum-stake limits; 888sport offers pre-match and in-play betting, Cash Out, Bet Builder, racing streams, BetFinder form tools, a live bet feed and daily boosted odds. NetBet’s app pairs Daily Boosts, Profit Boosts and free bet offers with a Bet Builder whose odds update as selections change, plus sports stats for the major leagues.

Cash Out is the lever in-play offers that fixed-odds cannot. The bettor settles a bet before the event finishes, at a price set by the bookmaker for that instant — a price that almost never matches the live market. Two consequences follow. The first: a bet eligible for Cash Out cannot, in most books, be settled as a free bet qualifier, and Sporting Index’s terms make that explicit by barring in-play or cashed-out qualifying bets. The second: a bettor using Cash Out is trading against their own bookmaker at a margin, which is a worse price than a betting exchange would offer on the same selection. Where a betting exchange exists for the same market, the exchange is usually the better exit.

Predictions, Tipsters & Strategy Sites

A “best betting tips websites” search returns a long list of football-focused services and a much shorter list of anything more rigorous. The honest framing: no tipster service can know the outcome of a sporting event, and any site that sells a “sure bet” or a system that wins is selling a contradiction. What separates a useful resource from a noisy one is transparency — a closed ledger of past picks, a stated staking plan, a stake-to-bank ratio, and an explanation of why a tip was made rather than the tip itself. The bookmakers on this page do not publish predictions in the tipster sense; they publish odds, and the price itself is the most reliable forecast a bettor will find, because it has been built out of many others’ views of the same event.

Strategy worth reading looks like bankroll management: a fixed unit stake, a rule for raising stakes only when the bank rises, and a stop-loss that ends the session. That is the side of the search most tipster sites do not sell, and it is the side that decides whether the bettor keeps a bank at the end of the season.

Bet Types, Odds & the Margin the Reader Pays

A single is one selection. A double is two, multiplied into one price. A treble is three; an accumulator — an “acca” — is four or more, with each leg multiplying into the running price. A Trixie is four bets on three selections; a Patent is seven; a Yankee is eleven; a Lucky 15 is fifteen; a Super Yankee (or Canadian) is twenty-six; a Heinz is fifty-seven; a Goliath is two hundred and forty-seven. The unit stake multiplies by the number of bets in each permutation, so a Lucky 15 at £1 costs £15 in total and pays out only if at least one selection wins. Each-way is two bets of equal stake — one on the win, one on the place — and the stake doubles; place terms vary by race and by operator. A bet builder or same-game multi combines markets from one event into a single price, with the legs multiplied together.

The odds themselves carry the bookmaker’s margin, and the margin is the only constant that never gets advertised. Take an illustrative two-way market priced at 1.90 / 1.90 in decimal odds. The fair return on a £1 stake at true odds would be £1 on each outcome; the implied probability of each outcome at 1.90 is 1 ÷ 1.90, or roughly 52.6 %, and the two implied probabilities add to roughly 105.3 %. The payout share — 1 ÷ (1/1.90 + 1/1.90) — comes out at about 95.0 %; the margin — 1 minus the payout share — comes out at about 5.0 %. That 5.0 % is what the bookmaker keeps, on average, of every unit bet on this market. Lift one price to 1.95 and push the other to 1.85 and the same arithmetic still gives a margin in the same band; what changes is the asymmetry between the two outcomes, and what never changes is that the bookmaker’s cut is built into both. A “best odds” promise from one site over another is, in practice, a difference of a percent or two on the margin — worth noticing, worth chasing on a big stake, and very rarely worth changing accounts for.

Free-bet value sits on the same arithmetic. A free bet whose stake is not paid back on a win is worth free-bet amount × (odds − 1) ÷ odds × the payout share of the market it is spent on; on the same 1.90 / 1.90 two-way market, a £10 free bet at odds of 3.00 is worth £10 × (3.00 − 1) ÷ 3.00 × 0.950, or about £6.33. That is the average return across many bets at that price; no single bet pays £6.33, and the estimate carries no promise.

Sports & Tournaments on Offer

The licensed UK market covers football from the Premier League down through the English Football League, the Scottish leagues and the major European competitions; horse racing from Cheltenham and the Grand National through the daily all-weather and jump cards; tennis from the four Grand Slams through the WTA and ATP tours; golf across the majors and the weekly tour events; basketball through the NBA and the EuroLeague; cricket through the international calendar and the domestic Hundred; boxing and the UFC; rugby league and rugby union; and the smaller sports — darts, snooker, cycling, Formula 1 — that round out the winter calendar.

Bet365 is the official global betting partner of the UEFA Champions League and describes its app as the most downloaded sports betting app in the UK. Spreadex, separately, runs a spread-betting book under the same brand regulated by the FCA for spread betting and by the Gambling Commission for fixed-odds betting, and it states that spread betting losses can exceed the deposit — a different product on a different licence, with a different risk surface. Esports are treated like any other event on a general betting licence; virtual events sit under a separate licence category, and several brands on this page offer them. The reader’s pick is less about which sport is covered — most licensed books cover most sports — and more about the depth of market and the price on the specific leagues they follow.

New Bookmakers & Recent Launches

A “new betting websites UK 2026” search turns up a mix of recent launches and rebrandings. Kalooki Sportsbook, operated by Kalooki Sports Book Ltd (company number 12938274), is licensed by the Gambling Commission under account number 57730 and is a GAMSTOP member. Midnite cites Gambling Commission licence 101839 and shows in-play events, an acca builder, popular accas and price boosts with maximum-stake limits. Silkbet Limited holds three Gambling Commission remote licences under account number 101183 — casino, general betting real event, general betting virtual event — active since 7 May 2026. Kwiff is licensed by the UK Gambling Commission and describes itself as a trademark operated by Spryme Ltd; the app carries a 17+ App Store age rating. BetWright states it is licensed in the UK and provides responsible gaming tools, and its customers must be aged 18 or over. London Bet is published by Thistle Bet Limited, states it is licensed and regulated in the UK, and its app has a 17+ age rating. Greenlight Bet’s site currently shows a “Launching Soon” placeholder with a contact form and email sign-up, and no offers, payment methods or licence text — a name on a domain is not a licence, and the public register is the only place that resolves the question.

The pattern is familiar: new brands arrive at the Commission register, attach a small welcome offer and wait out the first year. The reader’s test is unchanged from the established brands — search the Commission’s register by domain, by trading name or by account number before the first deposit.

The Ten Reviewed Bookmakers

The order below is the order of comparison; it is not a ranking of which is best for which reader. Each entry closes on a verdict that answers a different question.

Copybet — the social-trading shape on a GB licence

Copybet UK Limited holds Gambling Commission remote licence 53774, covering remote general betting standard (real events); the site is Copybet. The product shape is social — readers can follow tipsters and copy their bets, which is a different proposition from a standard sportsbook. For a reader who wants a sportsbook on its own, the social layer is extra surface to ignore; for a reader who wants a starting bank of other people’s picks, it is the point of the brand. The safer-gambling tools are present on the licence, and GAMSTOP membership follows from it.

Verdict: this is a social tool for followers, though it may lack appeal for the bettor who prefers a solo strategy.

BetGoodwin — the small-stake, racing-shaped welcome

Goodwin Racing Limited holds Gambling Commission remote licence 2927. The welcome offer is “Bet £10 & Get £15 in Free Bets”, split into a £5 sports bet, a £5 acca and a £5 Sub-Cover bet. The brand carries a racing heritage that shows in the shape of its markets.

Verdict: this brand suits the racing purist who prefers a manageable welcome over a marketing-heavy headline.

Dabble — the social-app newcomer with a clean welcome

Dabble Sports UK Ltd holds Gambling Commission remote licence 65677. The welcome offer is “Bet £10, Get £10 in Free Bets” on a first deposit for new customers, with minimum odds applying, a 7-day free bet expiry and the stake not returned. The product is built around social features — a feed of bets placed by other customers — and the welcome is the smallest of the set, which makes the headline easier to clear.

Verdict: a suitable entry point for the reader who wants a community-led experience with a transparent bonus.

Lottoland — lottery-first, sports also on the licence

EU Lotto Limited holds Gambling Commission remote licence 38991. The app combines casino, lottery betting, sports betting and scratchcards, and it states it is licensed by the Gambling Commission for customers in Great Britain. The sportsbook is one product on a multi-product licence, and the lottery heritage shows in the marketing mix.

Verdict: this is a viable multi-product option, but those wanting maximum sports depth might find it constrained compared to a pure bookmaker.

Sporting Index — the spread-and-fixed combination

Sporting Index Limited holds Gambling Commission remote licence 27343. The new-customer offer is wide: a £10 fixed-odds bet at minimum odds of 1/2 unlocks three £10 fixed-odds free bets, three £5 Total Goals spread bets, three £5 Winning Favourites spread bets and a £1 Race Index spread bet; the qualifying bet cannot be placed in play or cashed out early. The brand is one of the few on the register that publishes spread markets alongside fixed-odds, and the offer reflects that breadth.

Verdict: a strong pick for the experienced bettor who values both spread and fixed-odds markets under one roof.

Ladbrokes — the high-street name on the GB register

The Ladbrokes Sports Betting App is published by Entain Operations Limited and is rated 4.66 from 101,255 ratings in the GB App Store. The product is a full sportsbook across football, horse racing and the smaller sports, with Cash Out, a bet builder, and the depth of market a high-street name carries onto the screen. (The site is Ladbrokes.)

Verdict: an reliable choice for the standard bettor, though small-stake hunters may gravitate towards newer brands.

Bet Ahoy — the new name with a tight welcome

Bet Ahoy Ltd holds Gambling Commission remote licence 100094. The welcome offer is “Bet £10 & Get £10 in Free Bets”, split into a £5 sports bet and a £5 acca. The product surface is a standard sportsbook with the expected markets on football and racing.

Verdict: a simple sportsbook for the Saturday bettor who wants a quick-clear welcome offer.

NetBet — the boosts-and-builder surface

Netbet Enterprises Limited holds Gambling Commission remote licence 39170. The app offers Daily Boosts, Profit Boosts and free bet offers, a Bet Builder with instant dynamic odds, and sports stats for major leagues. The brand has been around long enough to have built up a market depth across football, racing and the smaller leagues.

Verdict: this is a highly functional choice for builders who rely on real-time market updates.

LiveScore Bet — the in-play-first product

LiveScore Betting and Gaming (Gibraltar) Limited holds Gambling Commission remote licence 56859, covering remote general betting standard (real events); the site is LiveScore Bet. Payments are debit cards (Visa and Mastercard), Apple Pay, PayPal, Pay by Bank (Open Banking) and Revolut Pay, which is the widest rail set on the reviewed list. The brand is built around live scores and the in-play markets that sit beside them.

Verdict: this interface is ideal for live-action bettors who need rapid access to scores and markets.

888sport — the deep in-play product on a 888 UK licence

888 UK Limited holds Gambling Commission remote licence 39028, covering remote general betting standard (real events); the site is 888sport. The product is pre-match and in-play betting, Cash Out, Bet Builder, racing streams, BetFinder form tools, a live bet feed and daily boosted odds. The 888 UK parent has been on the GB register for years, and the product depth reflects that.

Verdict: an appropriate solution for users seeking a combined experience of live racing streams and deep in-play betting.

Landsca — the operator landscape

Brand Gambling Commission remote licence What the operator’s own terms state
Copybet 53774 (Copybet UK Limited) Social-trading sportsbook on a GB remote general betting licence
BetGoodwin 2927 (Goodwin Racing Limited) “Bet £10 & Get £15 in Free Bets” — £5 sports, £5 acca, £5 Sub-Cover
Dabble 65677 (Dabble Sports UK Ltd) “Bet £10, Get £10 in Free Bets” on first deposit; 7-day expiry; stake not returned
Lottoland 38991 (EU Lotto Limited) Casino, lottery betting, sports betting and scratchcards on one licence
Sporting Index 27343 (Sporting Index Limited) £10 fixed-odds qualifier unlocks fixed-odds and spread free bets; no in-play or early cash-out qualifier
Ladbrokes 54743 (LC International Limited) Full sportsbook across real-event and betting-intermediary categories
Bet Ahoy 100094 (Bet Ahoy Ltd) “Bet £10 & Get £10 in Free Bets” — £5 sports, £5 acca
NetBet 39170 (Netbet Enterprises Limited) Daily Boosts, Profit Boosts, bet builder with dynamic odds, stats for major leagues
LiveScore Bet 56859 (LiveScore Betting and Gaming (Gibraltar) Limited) Debit cards, Apple Pay, PayPal, Pay by Bank, Revolut Pay
888sport 39028 (888 UK Limited) Pre-match and in-play, Cash Out, Bet Builder, racing streams, BetFinder, boosted odds

Overview: How a UK Betting Website Actually Works

A betting website is a price board and a cashier with safer-gambling tools bolted on. The price board lists outcomes across sports and markets, with decimal odds (3.00, 1.50) or fractional odds (2/1, 1/2) the same selection will pay if it wins; the cashier moves money in and out under the operator’s payment terms. The margin is built into every price and is the only thing on the site that is not negotiable.

Three mechanics decide what the reader pays. The first is the wagering cap that came in on 19 January 2026, which limits bonus wagering to 10x and bans mixed-product promotions. The second is the identity check, run before the first deposit, which is a Commission licence condition and not a brand choice. The third is the £150 financial vulnerability check that has applied since 28 February 2025 to remote betting when a customer’s deposits minus withdrawals exceed £150 in a rolling 30 days — a public-record check, not an income check. None of these is “the bettor’s side” or “the bookmaker’s side”; they are the rules every licensed book on this page operates inside.

The bookmaker’s money, beyond the margin, comes from a combination of operator tax (General Betting Duty is currently 15 % on the operator’s gross profits, with a new 25 % remote betting rate applying from 1 April 2027 within it) and the difference between the price the bettor takes and the true odds at settlement. Spread betting, where it is offered, runs on a different licence and a different risk surface — Spreadex states that spread betting losses can exceed the deposit, and the FCA regulates financial spread betting. The reader never pays tax on winnings at a GB-licensed book, which is the side of the table that often gets overlooked.

Legality & Regulation in Great Britain

The Gambling Commission, a non-departmental public body sponsored by the Department for Culture, Media and Sport, licenses the whole commercial market under the Gambling Act 2005, which covers Great Britain — England, Scotland and Wales. Northern Ireland is outside the Act and has its own older law, so a “GB licence” never regulates a Northern Ireland bet. Since the Gambling (Licensing and Advertising) Act 2014 an operator whose remote facilities are used in Great Britain needs a Commission licence wherever it is based; a Curaçao, Maltese or Gibraltar licence is no substitute.

Licence types matter. Remote general betting standard (real events) covers the standard sportsbook; remote general betting standard (virtual events) covers computer-generated events; remote general betting limited is the smaller licence; remote pool betting covers pools on horse and dog racing; remote betting intermediary is the licence a betting exchange runs on. The Commission’s public register can be searched by business name, trading name, domain or account number, and is the whole test of whether a brand holds a licence. Quote no count without its access date. Licensed operators use .com as well as .co.uk, so the domain proves nothing. Never call a single brand “the only” licensed one.

Betting and casino are separate permits with separate rules. A casino stake limit is never a betting stake limit, and the £150 financial vulnerability threshold applies to remote betting, not to casino. Age 18 is the floor; name, address and date of birth are verified before a customer can deposit or gamble, including with a free bet or bonus. There is no statutory cap on stakes in sports betting — operators set their own maximum stakes and may restrict customers.

A GB licence is compulsory at the point of consumption. Providing gambling facilities in Great Britain without the licence the Act requires is an offence under section 33 of the Gambling Act 2005 — aimed at the operator, not the customer. The honest framing for an unlicensed site is not “legal to use” but “no GAMSTOP coverage, no Commission complaints route, no approved dispute-resolution body, no British consumer redress if funds are withheld, not bound by the 10x bonus cap or the £150 vulnerability check”. Enforcement is disruption, not blocking — cease-and-desist notices, search-engine referrals, work with registrars, hosts and payment providers — and the Commission has been given, or is about to receive, court-order DNS blocking powers; ISP blocking is not in operation.

Responsible Gambling

GAMSTOP is the national multi-operator online self-exclusion scheme and a mandatory licence condition for online operators since 31 March 2020. Exclusion periods are six months, one year, five years, or five years with auto-renewal; after the minimum period the exclusion stays in place for a further seven years unless the customer asks GAMSTOP to remove it. GAMSTOP covers online sites and apps; betting shops use a separate service. A licence holder on this page is also a GAMSTOP member by definition.

The safer-gambling surface on the reviewed set is uniform on the basics: deposit limits, time-outs, self-exclusion, and links to GamCare (National Gambling Helpline), GambleAware, NHS gambling clinics and Gamblers Anonymous. Unibet’s surface cites deposit limits, a Player Profile test, product restrictions and self-exclusion, with live chat support and links to BeGambleAware, GamCare, GAMSTOP, Gambling Therapy and the BGC. Betmaster adds links to BetBlocker alongside GambleAware, GamStop and GamCare. Midnite links to GambleAware, GamCare, GamStop and BetBlocker. Fitzwilliam Sports links to GambleAware, GamStop and Gamblers Anonymous. The differences are surface, not substance.

The financial vulnerability check applies to licensed remote betting when a customer’s deposits minus withdrawals exceed £150 in a rolling 30 days (since 28 February 2025). It is a public-record check — for example, bankruptcy or county court judgments — not an income check and not a credit reference check. Financial risk assessments (the “affordability checks” of the press) have been announced in a staged plan (Commission article of 7 July 2026), with no start date. Deposit limits are the customer’s choice at a GB-licensed site; there is no state-set ceiling. RTS 12 has applied its first changes since 31 October 2025, with a second phase postponed to 30 September 2026, and whether it is live is not established.

Frequently Asked Questions

Where can I find the best sports betting websites?

The Commission’s public register is the only place that answers whether a brand holds a GB licence, and the comparison on this page covers ten that do. The best fit is the one whose market depth, payment rail and welcome term match what the reader actually bets on, not the one with the largest banner.

How do betting websites make money?

Every price on a sportsbook carries a margin, the share of every unit staked the book keeps on average. On a two-way market priced at 1.90 / 1.90 in decimal odds, that margin sits near 5 %; on a tight Premier League 1X2 it can be lower, on a niche exotic it is higher. Operator tax is paid on top, and the spread between the price offered and the true odds at settlement is what compounds the rest.

What are the best betting websites?

“Best” depends on the bet. A racing-led reader finds depth at Ladbrokes; an in-play reader finds LiveScore Bet; a bet-builder reader finds NetBet; a reader who wants spread and fixed-odds on one licence finds Sporting Index; a reader who wants social picks finds Copybet or Dabble. There is no single answer the register supports.

How can it be checked that a bookmaker holds a Gambling Commission licence?

Search the Commission’s public register by business name, trading name, domain or account number. Every brand reviewed on this page is on the register under the licence number shown. The check takes a minute; it is the whole test of who is licensed in Great Britain.

How is the return on a bet worked out from the stake and the odds?

Return = stake × odds. Net profit = stake × (odds − 1). On a combination bet the odds of the legs multiply into one price before the stake is applied. At fractional odds of 5/1 the decimal equivalent is 6.00, so a £10 stake returns £60 and the profit is £50.

What is the bookmaker’s margin and how can it be seen in the odds?

The margin is the share of every unit the book keeps. On a two-way market the implied probability of each outcome is 1 ÷ odds; the two probabilities add to more than 100 %, and the excess is the margin. On 1.90 / 1.90 the implied probabilities add to about 105.3 %, so the payout share is about 95.0 % and the margin is about 5.0 %. The lower the margin, the more the bettor keeps on average across many bets.

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