Differences between sports betting in the UK and the US

Anyone who has been to the United Kingdom and the United States knows that both countries share a common language, but that's about where the similarities end. Even the language contains notable differences, much to the chagrin of any American trying to talk about soccer or fanny packs while on vacation in England.

The sports betting landscape is also sizably different between the two countries. While the essentials are the same most of the other details of the practice are remarkably distinct. In both the UK and the US, sports betting involves predicting the outcomes of sporting events and placing bets on the team or player you expect to emerge victorious

Why bet on sports?

In many ways, wagering on a specific team or player indicates that you have faith in them to win a game or tournament. Predicting variables such as the number of points they will score or the performance of a specific player can make you earn some good wins. 

Betting is an ancient pastime, with records indicating that the Greeks make wagers on the Olympics and the Romans placed bets on circus events and chariot races. Today, bets can be placed on many sports through a number of avenues, such as going to a physical bookmaker, using online websites or making friendly, unofficial bets with friends. 

Many sports betting sites use special promotions to attract bettors to their platforms. For example, the BetMGM welcome offer is a bonus to welcome new bettors who sign up on the BetMGM betting platform, as a way of making their betting experience more exciting. 

In sports betting today, there are over 30 different sports that fans can bet on across various betting sites around the world, drawing in a huge demographic of sports lovers.

How does sports betting affect fans in the UK?

In the United Kingdom, sports betting is somewhat intrinsic to the culture of sports. Historically, bookmakers could be found at sports events and local shops, allowing enthusiasts to bet on matches and players. Today, more and more people are using the internet to place their bets, making it easier for fans to get involved. 

Getting involved in betting as a way of supporting a team or player makes fans feel more engaged with the games they love. The expectation of making some good wins with your bet while supporting your teams and enjoying the sports you love, can make an already exciting match-up feel even more exciting.

How is it different in the US?

In the United States, sports betting has a different history - one in which the prohibition movement found considerable success. As a result, there is a notably a different framework around betting rules and regulations. In general, the UK has more relaxed gambling rules compared to the US. 

In some states in the US, sports betting became legal only very recently. In others, movements toward legalization have not been successful, and sports betting is still not allowed. A handful of states that have legalized sports betting for a better part of the last decade, have seen tremendous benefits from the activities in this area. 

In many states, sports betting has helped sports teams and leagues generate revenue. They team up with betting companies for sponsorships, which lead to more people buying tickets and more folks watching games on TV. It's a win-win relationship because fans get to enjoy their games, the teams get more support, and the betting operators get more customers to their platforms.

States that permits online betting create opportunities for fans to have even more fun playing fantasy sports and daily fantasy games. Bettors can follow the stats of their favorite players and see their progress. It also allows fans to get interested in players from various teams.

Laws about betting: How the UK and US are different

Sports betting laws in the UK and the US are quite different. In the UK, various forms of betting have been mostly legal and accepted throughout history. The US has historically been more conservative. 

In the UK, the legality of modern betting has enjoyed a streamlined approach. In 1961, betting was made legal in the country through the Betting and Gaming Act. Then in 2005, online betting became legal with the passage of the Gambling Act. 

In the US, the story of betting has been mostly disparate and restrictive. A 1992 law referred to as PASPA, allowed sports betting in only four states. Most people had to go to Las Vegas or use secret bookies to bet. But in 2018, the Supreme Court overturned PASPA, meaning each state could make its own rules about sports betting. Now, 37 states plus Washington DC have legalized sports betting.

In the UK, betting companies pay 15% of the money they make as tax. In the US, the tax rate varies depending on the state. Pennsylvania for example taxes 36% on sports betting revenue, while the Nevada sports betting tax is only 6.75%. Additionally, individual bettors in the US may have to pay tax on winnings, depending on the net gain. Since 2001, there is tax on individual winnings in the UK.

The rules may be vastly different, but both the UK and the US are embracing sports betting more than ever. It'll be interesting to see how the rules change in the future, and if Americans will continue sounding awkward when talking about "soccer" in the English Premier League.