There is historical speculation the only reason Britain entered into WWI after the invasion of Belgium was because their struggling Liberal government hoped it would increase their popularity. If Britain doesn't declare war on Germany then there is still a European war but it does not become a world war.
Speaking of epic British failures I'm going to go with appeasement in 1938. If an English/French/Polish/Czech coalition invades German to topple the Nazis in 1938 there is no WW2.
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