What would the confederacy gain by receiving british recognition?
it would make richmond the nation's capital.
they would become strong allies.
it would guarantee their independence.
it would provide strategic military advantage over the north.

One of the things that the Confederacy would have gained by receiving British recognition was that "It would provide strategic military advantage over the North," since the South could have asked for British military supplies, such as ships and weapons. 

answer:   conditions of worth