Level betting includes the French teams (7)
I believe the answer is:
elevens
'teams' is the definition.
(eleven is a kind of team)
'level betting includes the french' is the wordplay.
'level betting' becomes 'evens' (I've seen this before).
'includes' means one lot of letters goes inside another.
'the french' becomes 'le'.
'evens' enclosing 'le' is 'ELEVENS'.
(Other definitions for elevens that I've seen before include "Particular numbers" , "Eg, football teams" , "Some sportsmen" , "11, 11" , "Sports teams" .)