Spreadex

Spreadex
Privately Held
Industry Financial Services
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

Spreadex Ltd is a British-based company that offers financial spread betting, sports spread betting, and sports fixed-odds betting.

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 on financial markets.

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

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