MAKING ODDS: In the U.S., when people...

MAKING ODDS: In the U.S., when people say they’re betting that a song will be No. 1 at Christmas, it’s usually just a figure of speech. In Britain, though, they mean it literally. With legal betting shops in virtually every business district, odds are taken on just about anything, including how well records will do during the torrid Yule selling season.

The current 1995 favorite, according to leading bookmaker firm William Hill: “Free as a Bird,” the Beatles’ “reunion” single, with rather modest odds of 5-2. Second, at 7-2, is the current No. 1, a medley of two 1962 English hits re-recorded by Robson & Jerome, stars of the British TV series “Soldier, Soldier.” Queen’s “Heaven for Everyone”--another song that, like the Beatles single, features three survivors of a band finishing the work of a dead leader--is third.

Some longer shots include “Miss Sarajevo” by the Passengers (Eno and U2 with guest Luciano Pavarotti), a still-unselected second single from Simply Red’s new album, the cast of the soap opera “Coronation Street” with their version of the Frank and Nancy Sinatra hit “Somethin’ Stupid” and, of all things, the Monty Python song “Always Look on the Bright Side of Life,” all at 14-1. (The Pythons’ version of the song actually hit No. 1 in 1991 after being used in a TV commercial.)