Your guide to online betting in the UK.

Online sports betting has opened the betting world to a new group of individuals - those who do not have the time or inclination to visit a bookmaker in person.

Not only is the way in which we are able to place bets changing, but also the different betting 'formats' available to us.

Most people are familiar with traditional fixed odds betting. Your winnings are dependent on the odds assigned to the event in question. For example, if you place £10 on a horse to win at 3-1, and it wins, you make £30 profit.

Exciting developments in the betting world means that there are now other ways you can bet on an event. Namely, spread betting and betting via a betting exchange.

Spread betting firms quote a spread on the predicted outcomes of a sporting event or on the future prospects of a share or index. The investor/gambler can then decide as to whether they believe the price will rise or fall.

A betting exchange allows you to bet against other individuals rather than a bookmaker. Hence, better odds can often be found.

One advantage these newer forms of betting have over fixed odds betting is you can bet against an outcome. For example, at the start of the world cup, you could bet that Germany will not win.

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