"You bet" or "You betcha" in response to "Thanks"

[englishstudent]

Hi,

some people say "You bet" or "You betcha"
in response to "Thanks".

Could you please explain what this exactly means
or if it is a short form for something? Since it
is in reponse to "thanks" I can surmise that it
means something similar to "you are welcome".

BTW, what is the BrE response to "thanks"?
A long time ago it was "no mention" and then
"mention not". I am wondering what is the
response currently in use in UK.

Thanks

[Doris]

Hello englishstudent,

"You bet" means: "no problem"

As for the BE response to "thanks", the most common form used these days is:
"That’s OK"

Doris

[mykwyner]

In American English "You bet(cha)" is a more personal, less formal way to say, "You're welcome." It emphasizes that the speaker was very happy to do whatever the other person is thanking him for.

[englishstudent]

Thank you Doris and mykwyner. :)