The first thing to remember is that Spreadex was originally just a spread betting site before adding a Sportsbook to its offering.
So, whereas most other bookies only have a Sportsbook to worry about, Spreadex have to run two completely separate products at the same time.
But they do that extremely well, all things considered, and more experienced customers have the advantage of being able to use fixed odds betting when wanting to place a particular type of bet and spread betting for other types of wagers.
Horseracing fans will feel right at home here with a great product that covers racing from slightly obscure countries in addition to the regular ones, livestreaming of UK and Irish racing, plus two money-back offers that are both innovative and allow unlucky punters to feel better about life if they get a ‘bad beat’, by at least getting their money back.
Aside from that, they do most things well with decent odds, knowledgeable customer service and a good Cash Out feature.
But as ever, there’s work to be done. They need to keep up with their competitors by offering Best Odds Guaranteed on racing and need to increase their number of payment options to give customers more choice.
Spreadex has been around since 1999 when a former City dealer called Jonathan Hufford formed it to make spread betting more widely available to the general public.
In 2006 they added an online sports betting service and financial trading online platform and followed that up with a fixed odds (Sportsbook) product in 2010.
Over the years they’ve bought up client databases of other firms, in some case rivals who were experiencing financial difficulties, in order to boost the number of clients they could reach.
This included extrabet, MF Global Spreads and Cantor.
These days their offices are located in St.Albans and operate under the UK Gambling Commission License.
A well-respected firm with a good reputation, they’ve picked up numerous awards over the years 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.
Let’s get this Spreadex Sports Bet review underway by looking at the Spreadex Sports sign-up offer.
Signing up to Spreadex Sports, making a deposit and placing a qualifying bet of £25 sees you very well rewarded indeed.
You can look forward to a total of £50 in free bets, which simple maths tells you is the equivalent of a 200% bonus on your deposit and qualifying bet.
Remembering that there are two products at Spreadex- the spread betting one and the sports betting one – and you may not be too surprised to find out that the Spreadex welcome offer is split between the two.
So, you get 5x £5 free bets to use on fixed odds bets and then 4x £5 wagers to use as free bets on the spread betting side of things.
Now, we appreciate that spread betting won’t be for everyone. It’s both quite hard to get your head around and is far riskier than fixed odds betting because when placing the bet, you don’t how much you could potentially go on to lose.
But if you can live with both those elements, and these are after all free bets so you’re not risking anything, then this is an extremely good welcome offer offering better value for money than at most other sites.
The last part of the welcome offer is to get £5 worth of bets in the form of 50 free spins on Starburst.
You won’t find too many ongoing offers at Spreadex compared to some of their rivals but here are some of the good ones to look forward to.
If you place a fixed odds bet on a player to be first goalscorer in a football match and your player doesn’t score the first goal, it’s still worth seeing if they go on to score the last goal of the match, instead. You won’t get paid out any winnings, but you will be refunded the stake of your first goalscorer wager to use as a free bet.
Very occasionally a horse winning a race is subsequently disqualified for interference- running in another horse’s path or the jockey somehow impeding another jockey from riding properly- meaning the horse finishing second is promoted to the win.
If this happens, the ‘first past the post’ offer means you’ll still be paid out on the disqualified horse who won. Anyone who backed the horse who was ’promoted’ to the win, is also paid out as a winner.
When your horse finishes second, it’s bad enough. But finishing second to a ‘rag’, or big outsider if you prefer, is even worse.
But if the rag went off at odds of 33/1 or greater and your pick finished second, you’ll get your stake back as a free bet, up to £25.
Betting Markets and bet types
Some of the biggest and best-known betting sites go out of their way to offer 40+ sports so that whatever sports, mainstream or obscure, you want to bet on, it will be there.
Spreadex see things a bit differently. They prefer to focus on the core sports that see the most business, even if it means not offering certain sports with a cult following.
That means the number of sports you can wager on is limited to about 20 at any given time but those 20 are the most popular anyway. Here are some of the highlights among the biggest ones.
|Sport||Major competitions covered||Good features|
|Football||Premier League, Serie A, La Liga, Champions League, Europa League, Ligue 1, FIFA World Cup, Euros, Copa Libertadores.||
|Tennis||AT Tour, WTA Tour, Challenger Tour, Davis Cup, Ante-post Grand Slam markets.||
|Cricket||Test matches, ODIs, T20Is, IPL, CPL, BBL, PSL, The Hundred, T20 World Cup, County Championship.||
|Horseracing||All UK and Ireland daily races, Cheltenham Festival, Aintree Festival.||
|Golf||PGA Tour, DP Tour, LIV Tour, LPGA, The Majors, Ryder Cup, Solheim Cup.||
So those are the most popular ones just discussed. But let’s look at a few other sports that Spredex have a good product for.
The fact that eSports are growing in popularity by the day to bet on isn’t lost on Spreadex, who offer plenty of betting markets on matches of FIFA, Dota 2, League of Legends and more.
Better still, the action is live streamed on many matches so you can watch it straight from your Spreadex account at no cost while you bet on the game.
Greyhounds are a good example of how Spreadex put in a huge amount of effort when it comes to their core sports.
Not only are the fixed odds pretty generous on their markets but the spread betting markets open up a wide range of alternative markets.
As with eSports, there’s live streaming to help you enjoy it all.
So how are the Spreadex Bet betting odds?
All the odds we looked at were extremely fair and very much in line with what their competitors were offering.
There weren’t too many instances of them offering the best price but there were also very few instances of them offering odds considerably lower than the others.
Now is the time in this Spreadex Bet Sports betting review where we look at what features at Spreadex catch the eye.
As we’ve said already, spread betting won’t be for every punter because there’s a far greater element of risk involved and understanding how spread betting works is considerably more complex than betting at regular fixed odds.
But it’s nice to know that the ability to place spread bets is there under the ‘same roof’ although as we know, you’ll need to open a separate account for this purpose.
The more experienced punters may well decide to use a combination of fixed odds betting and spread betting to get the most out of Spreadex.
Spreadex offers the Cash Out feature most other sites do and there’s lots to like about it.
You can choose the partial Cash Out feature to bank a profit while letting the rest of the bet ride by using the Slider to select how much you want to keep and how much you want to leave as a live bet.
Available for football, you have a big selection of different markets to choose from here to put in your Bet Builder.
Some of the more interesting ones include the number of shots a particular player might take, the game’s winning margin, the number of tackles a player makes and whether a certain footballer will be carded.
It’s easy to use and the Bet Builder odds automatically updates with each selection added to it.
There’s some really good written content on their blog including previews of upcoming football matches, a round-up of recent customer bets that won at big odds, tips across numerous sports and guides to what spread betting is all about, divided by sport.
It’s all written in a simple way that’s easy to understand with just enough detail that you’ll learn the basics very quickly.
The Spreadex betting app is available on both Android and iOS.
For more info on downloading betting apps, visit our mobile betting app page.
Using the betting app allows you to place pre-match and live betting wagers as well as read the blog, Cash Out your bets, place Bet Builders and make deposits and withdrawals.
We found the Spreadex betting app to be quick to download and was easy to use on both smart phones and tablets.
Spreadex customers living in the UK, Ireland or Denmark can download the app straight from the site’s page while customers from anywhere else need to follow the on-screen instructions as to how to do it.
As has happened with quite a few betting sites, Spreadex have realised that supplying a long list of relevant, insightful and well-explained FAQs is going to save both themselves and their customers plenty of time and effort.
Given it’s the same questions that tend to pop up time and again at the Customer Service desk and it’s not hard to work out which questions and answers need to be provided.
They’ve divided them into: Sports, Account and Technical. The section also has an article on how Player Performance markets- a big part of spread betting- work, what the specific rules are for spread betting and a very useful glossary of spread betting terms. Across all this, you’ll find that many of your queries will be answered right away. As will many for sports, rather than spread, betting.
But if that still hasn’t solved your problem, you can get in touch with Customer Service in the following ways:
Spreadex Sports don’t have a huge amount of payment options available and a notable absence is PayPal and other e-wallets like Skrill or Neteller.
Customers who wish to make an instant withdrawal can do so by requesting a CHAPS (Clearing House Automated Payment System) withdrawal. You’re guaranteed to get your money out straight away but there is a £25 fee for using it.
Some withdrawals by card may take as little as 2 hours to process but, in many cases, the card issuer itself may delay this so that it takes closer to 1-2 days. But like we say, if that’s not the case, withdrawals by card can be extremely quick.
|Method||Minimum deposit||Deposit Time||Minimum withdrawal||Withdrawal Time|
|VISA/Maestro/Mastercard||No minimum deposit||Instant||£5||2 hours to 1-2 business days.|
|Cheque||N/A||N/A||£5||Up to two weeks.|
|Bank Transfer||No minimum deposit.||Instant||£5||1-3 business days.|
|Pingit||No minimum deposit||Instant.||N/A||N/A|
Spreadex customers can now have access to the social network and charting platform, TradingView, which has been integrated into Spreadex’s site.
Founded in 2011, TradingView provides access to charting tools, real-time data and technical indicators.
With this new partnership, the broker’s clients can connect their accounts with the platform and execute trades directly from TradingView’s web and mobile charts without actually leaving the Spreadex site.
“Our customers will now be able to benefit from a seamless integration between two of the most popular services in the industry,” Tom Salmon, the Head of Trading at Spreadex, said.
Spreadex has both a fixed odds sportsbook and a spread betting service. You can place both types of bets on the same site but will need to hold separate accounts for each one.
No, you can’t deposit or withdraw using PayPal at Spreadex and in fact, Spreadex doesn’t currently offer any e-wallets as a valid payment method.
To make your Spreadex betting easier and more enjoyable, customers can watch streaming of different sports live from their laptops or mobile phones. This includes streaming of eSports, tennis and horseracing.