Spreadex
Spreadex is a British-based company that offers financial spread betting, sports spread betting, and sports fixed-odds betting.
Privately Held | |
Industry | Gambling |
Founded | 1999 |
Headquarters | St Albans, Hertfordshire, UK |
Key people | Jonathan Hufford Managing Director |
Products | Financial spread betting Sports spread betting Fixed-odds betting Casino |
Number of employees | 100+ |
Website | www.spreadex.com |
History
Spreadex commenced trading in 1999 in Dunstable, Bedfordshire. It was founded by former City dealer Jonathan Hufford[1] with the intention of making spread betting more accessible.[2] The business relocated to St Albans, Hertfordshire in February 2008.[3]
In May 2006, Spreadex launched an online sports betting service and soon after launched a financial online trading platform.[1] In May 2010, the company launched a fixed odds sports betting service allowing bets to be placed in both fractional and decimal format.[4]
Spreadex was listed in the Sunday Times PriceWaterhouseCoopers Profit Track 100 for three years in succession. In 2006, Spreadex finished 34th;[5] in 2007, they finished 23rd,[6] and in 2008, they finished in 49th place.[7]
In June 2011, Spreadex acquired the client database of extrabet, the sports betting arm of IG Group.[8] This was followed in January 2012 by the purchase of the client database of bankrupt company MF Global Spreads,[9] and by the purchase of the non-equities business of rival spread betting firm Cantor Index in March 2013.[10]
In September 2011, Spreadex introduced an online Casino featuring table, card, slot, video poker, instant win games, and a live dealer service.[11]
In March 2013, Spreadex released its new financial fixed odds markets, also referred to as "Speed Markets",[12] allowing clients to place fixed risk bets.
Spreadex reported for the year ending 31 May 2016 that turnover had increased from £40.5 million to £50.3 million and pre-tax profits rose from £22 million to £27.1 million.[13]
Operations
Spreadex takes bets via telephone, mobile, and their website.[14]
Spreadex owns financial spread betting company (www.shortsandlongs.com) which was launched in October 2008.[15] The client database of ShortsandLongs was transferred to Spreadex in March 2012 to consolidate its business.[16]
Spreadex also operates a fixed odds betting pitch at Kempton Park Racecourse.[17]
References
- Spreadex Website - Company History
- City AM Schoolboy bookie who turned spread betting evangelist
- St Albans Review - Growing betting firm choses St Albans
- Spreadex Launch fixed odds
- Spreadex 34th in Profit Track 100
- Spreadex 23rd in Profit Track 100
- Spreadex 49th in Profit Track 100
- Yahoo finance! Spreadex Acquires extrabet Customers
- Spreadex acquires Cantor Index clients
- Spreadex Debuts Online Casino
- Spreadex Speed Market information page
- This is Money: Spreadex Turnover Soars
- Spreadex moves to St Albans
- ShortsandLongs
- ShortsandLongs transferred to Spreadex
- Spreadex Betview 2011 Awards