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United Kingdom
United Kingdom
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Fixed odds meaning
Published by a LexisNexis Practice Compliance expert
What does Fixed odds mean?
In betting practice, fixed odds describes a wager where, when the bet is struck, each party knows or can work out the winnings for the stake. Under the Gambling Act 2005 (Great Britain), a bet is at fixed odds if the potential return is knowable at placement, except to the extent it may vary with:
- the outcome or occurrence of the event(s),
- the number of participants,
- the starting prices (SP) or totalisator odds,
- or the time the bet is received by the bookmaker or intermediary.
For Great Britain, a bet placed with or through a business receiving or negotiating bets is not treated as fixed odds if the bettor’s winnings consist, or may consist, wholly or partly of something other than money.
This statutory definition is used to distinguish fixed-odds betting from pool betting and betting intermediaries for licensing and regulatory purposes. Usage across England & Wales and Scotland aligns with the 2005 Act. Northern Ireland and Ireland do not contain an identical statutory formula, but the term is used consistently in regulation and industry practice to mean a pre‑agreed payout based on the stake and the odds offered at the time of placement. Legal analysis typically focuses...
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View the related News about Fixed odds
NEWS
UK competition: CMA Phase 2 remittal provisionally finds Spreadex/Sporting Index monopoly, considers divestment; CMA consults on DMCCA SMS levy rules/apportionment (closes 3 July 2025); key dates
Mergers The CMA has issued its interim report and potential remedies following the remittal of its phase 2 review into Spreadex Limited’s completed purchase of the B2C business of Sporting Index Limited, and has provisionally identified competition concerns. Spreadex and Sporting Index both offer fixed odds betting and sports spread betting to UK customers. Spreadex also operates in financial spread betting and casino betting. The firms are the only licensed providers of online sports spread betting services, and the CMA concluded that any remaining out-of-market constraints post-merger—such as unlicensed sports spread betting operators, financial spread betting firms, and sports fixed odds betting providers—are weak...
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NEWS
UK competition law round-up: CMA’s Spreadex/Sporting Index phase 2 reference; Atlantic Joint Business Agreement timetable shift; Subsidy Advice Unit’s English Investment Zones advice; upcoming dates
Mergers Spreadex/Sporting Index referred to phase 2 The CMA has referred to phase 2 the completed purchase by Spreadex Limited (Spreadex) of the business-to-consumer (B2C) arm of Sporting Index Limited (Sporting Index). Spreadex and Sporting Index both deliver online fixed odds betting and online sports spread betting services to customers in the UK. Spreadex is additionally involved in financial spread betting as well as casino betting...
17 April
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UK and EU competition law update: CMA merger and antitrust actions, CAT and Court of Appeal rulings, AI foundation models, home heating review, and State aid developments, 18 April 2024
In this issue: UK mergers UK antitrust UK private actions UK competition policy UK market studies EU state aid Russia’s war against Ukraine LexTalk®Competition: a Lexis®Nexis community Daily and weekly news alerts New and updated content Caselex UK mergers Spreadex/Sporting Index referred to phase 2 The CMA has referred to phase 2 the completed purchase by Spreadex Limited (Spreadex) of the business-to-consumer (B2C) operation of Sporting Index Limited (Sporting Index). Both businesses offer UK customers online fixed-odds betting and online sports spread betting, while Spreadex also provides financial spread betting and casino betting. On 11 April 2024, the CMA confirmed the deal met the threshold for an in-depth investigation. During phase 1, the authority concluded the merger gives rise to an SLC owing to horizontal unilateral effects in the UK supply of licensed online sports spread betting. Notably, the CMA considered that the transaction may have led to a monopoly by eliminating...
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