Sports betting is the act of predicting the outcome of a sporting event and placing a stake on that result.

People place bets across many different sports, including football, horse racing, tennis, cricket and more. Each bet involves selecting a possible outcome and staking an amount of money on that prediction.

If the prediction is correct, the bettor receives a return based on the odds offered for that selection.

This guide explains the fundamentals of sports betting and how the basic structure of a bet works.

If you are new to betting and want to explore the full learning journey, visit our Beginner’s Guide to Sports Betting in the UK, which brings together all of our introductory sports betting guides in one place.

Although betting markets can vary between sports, the basic structure of a bet usually includes four core elements.

Stake
The amount of money you choose to bet.

Odds
Numbers that represent the probability of an outcome and the potential return.

Market
The event or outcome available for betting, such as a team to win a match.

Return
The total amount paid if the bet is successful.

For example, if you place a £10 bet on a football team at odds of 2/1 and the team wins, your total return would be £30.

Understanding these elements helps explain how betting markets function across different sports.

Sports betting can take place in several environments, including:

• Online betting websites
• Mobile betting apps
• Licensed betting shops

Many customers choose to explore betting markets online because it allows them to view odds across different events and sports in one place.

Sports betting markets exist across a wide range of events.

For example:

A football bet might involve predicting which team will win a match.

A horse racing bet might involve backing a horse to win or place in a race.

A tennis bet might involve predicting the winner of a match or a specific set.

Each sport offers different types of markets depending on the event.

Odds determine how much a successful bet could return.

Shorter odds usually suggest a higher probability of the outcome occurring but produce smaller returns. Longer odds may offer larger returns but represent outcomes considered less likely.

Understanding how odds work can help you interpret betting markets more clearly.

You can explore this in more detail in our guide:

Betting Odds Explained