Spreadex is a British-based company that offers financial

spread betting Spread betting is any of various types of wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, such as fixed-odds (or money-line) betting or parimutuel betting. ...

, sports spread betting, and sports fixed-odds betting.

History

Spreadex commenced trading in 1999 in

Dunstable Dunstable ( ) is a market town and civil parish in Bedfordshire, England, east of the Chiltern Hills, north of London. There are several steep chalk escarpments, most noticeable when approaching Dunstable from the north. Dunstable is t ...

Bedfordshire Bedfordshire (; abbreviated Beds) is a ceremonial county in the East of England. The county has been administered by three unitary authorities, Borough of Bedford, Central Bedfordshire and Borough of Luton, since Bedfordshire County Council ...

. It was founded by former City dealer Jonathan Hufford with the intention of making

more accessible. The business relocated to

St Albans St Albans () is a cathedral city in Hertfordshire, England, east of Hemel Hempstead and west of Hatfield, north-west of London, south-west of Welwyn Garden City and south-east of Luton. St Albans was the first major town on the old Roman ...

Hertfordshire Hertfordshire ( or ; often abbreviated Herts) is one of the home counties in southern England. It borders Bedfordshire and Cambridgeshire to the north, Essex to the east, Greater London to the south, and Buckinghamshire to the west. For gov ...

in February 2008. In May 2006, Spreadex launched an online

sports betting Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basket ...

service and soon after launched a financial

online trading platform In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products c ...

. In May 2010, the company launched a fixed odds sports betting service allowing bets to be placed in both

fraction A fraction (from la, fractus, "broken") represents a part of a whole or, more generally, any number of equal parts. When spoken in everyday English, a fraction describes how many parts of a certain size there are, for example, one-half, eight ...

al and

decimal The decimal numeral system (also called the base-ten positional numeral system and denary or decanary) is the standard system for denoting integer and non-integer numbers. It is the extension to non-integer numbers of the Hindu–Arabic numeral ...

format. Spreadex was listed in the

Sunday Times ''The Sunday Times'' is a British newspaper whose circulation makes it the largest in Britain's quality press market category. It was founded in 1821 as ''The New Observer''. It is published by Times Newspapers Ltd, a subsidiary of News UK, w ...

PriceWaterhouseCoopers

Profit Track 100 The Sunday Times Profit Track 100 is an annual league table published in association with The Sunday Times newspaper in the UK. It ranks Britain’s 100 private companies with the fastest-growing profits over their last three years. It is publis ...

for three years in succession. In 2006, Spreadex finished 34th; in 2007, they finished 23rd, and in 2008, they finished in 49th place. In June 2011, Spreadex acquired the client database of extrabet, the sports betting arm of

IG Group IG Group is an online trading provider with 290,000 active traders, offering access to spread betting and CFD trading, which allow traders to bet on the direction of equities, bonds and currencies without owning the underlying assets. Establis ...

. This was followed in January 2012 by the purchase of the client database of bankrupt company

MF Global MF Global, formerly known as Man Financial, was a major global financial derivatives broker, or commodities brokerage firm that went bankrupt in 2011. MF Global provided exchange-traded derivatives, such as futures and options as well as over ...

Spreads, and by the purchase of the non-equities business of rival spread betting firm Cantor Index in March 2013. In September 2011, Spreadex introduced an online Casino featuring table, card, slot, video poker, instant win games, and a live dealer service. Due to an ever-expanding customer base, in September of 2013 Spreadex penned a £1.2m private cloud deal with Computacenter to improve the stability and security of its trading platforms. In October 2014, to accommodate the firm's growing workforce, Spreadex moved to a larger, newly-refurbished office in St Albans called Churchill House. Spreadex has won numerous awards since its inception, including Best Spread Betting Provider at the 2016, 2018 and 2020 City of London Wealth Management Awards; Best Mobile Trading Platform and Best Trading Alerts System at the 2020 ADVFN Awards; Best Spread Betting Provider at the 2019 Good Money Guide Awards; and Best Spread Betting Operator at the 2017 and 2020 EGR Awards. This as well as Best Customer Service in the 2013, 2014, 2015 and 2017 Investment Trends Report. In 2017, Spreadex was also listed by the Financial Times Europe as one of the top 1000 fastest growing companies in the continent.

Operations

Spreadex has three main products – sports betting, financial trading and casino gaming – and takes a range of bets via desktop, mobile, tablet and telephone. The sports product offers both sports spread betting and sports fixed odds betting including features such as Bet-Builder, Auto-Cash Out and Live Streaming. The financial trading product offers financial spread betting, CFDs, Options and ETFs covering indices, shares, forex, commodities, bonds, cryptocurrencies and more. The casino gaming product includes slots, roulette and blackjack featuring Live Dealers. Spreadex owns financial

company (www.shortsandlongs.com) which was launched in October 2008. The client database of ShortsandLongs was transferred to Spreadex in March 2012 to consolidate its business.ShortsandLongs transferred to Spreadex
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References

{{Reflist, 2 Gambling companies of the United Kingdom Financial services companies of the United Kingdom Financial derivative trading companies Financial services companies established in 1999 British companies established in 1999