Because one ought not to question how things are done.
U.K. sports
Probably just the way things evolved. The UK countries used to play each other all the time back in the day. Once the history is down it would be difficult to then replace all that with a UK team.
*this link does not wanna play and keeps messing up. But if you type in Scotland versus England 1872 and you should be able to read about the first international game.
http://en.wikipedia.org/wiki/Scotland_v_England_(1872)
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Say, Brits, I was just wondering-- why does the U.K. have separate teams for England, Scotland, Wales, and Northern Ireland when it comes to World Cup, but fields just one unified team for the Olympics?
--Cystem