SpreadEx are an established firm founded by former City dealer Jonathan Hufford. They are licensed and regulated by the UK Gambling Commission and were founded back in 1999. The Spreadex online sports betting service launched in 2006, with the firm merging and acquiring other betting sites along the way.
SpreadEx are not your standard online bookmaker. In fact, there are only a handful of firms around the world who offer the services they do. Conventional online bookmakers offer odds on a range of events, with fixed returns – if a customer’s selection wins, then they get paid out a pre-determined about. SpreadEx are a spread betting company, which is a little difference. Spread betting was born in the financial industry and the basic premise is, the more right you are, the more money you make, whereas the more wrong you, are the more you lose. The swings can be much bigger than conventional betting (although it is possible to cap wins and losses). In this review, we look at the services on offer to customers and see the quality of every aspect of the bookmaker.
The SpreadEx website provides a great user experience on both desktop and mobile. A three-column layout makes it easy to find what you are looking for. You’ll find a list of in-play events on the left, live and upcoming events in the centre, and your bet slip, a comprehensive list of sports, and a live streaming window displayed on the right.
Several years ago, SpreadEx added a fixed odds section on their website to complement their spread betting fayre, and when clicking on a desired sport, customers can easily flick between the two types of bets by just choosing the option from a small menu bar above the games. For each match/event, SpreadEx sports have their own statistics section (indicated by a bar chart next to the odds). When football matches are live, the site keeps customers informed with what is going on in the game, with a useful graphic showing the pitch, and game stats – thus helping players make more informed betting decisions. There is a useful search bar on the left hand side of the screen, enabling customers to quickly find their desired bet, and players also have the choice of flicking between fractional and decimal odds.
Free Bets and Cashback Offers
Most bookmakers entice customers with the promise of large free monetary rewards for signing up and using their site. SpreadEx is no exception. As a new customer, you can claim £300 cashback or an iPad simply for staking £300 on qualifying markets within 28 days of creating an account.
Spreadex also welcomes new customers with up to £25 in free bets. To qualify for five £5 fixed odds single bets, you must place a £25 fixed odds single bet at minimum odds of 1/2. You will then receive one £5 bet every day for five days. You can still claim free bets even if you don’t want to bet £25 in one go. By betting between £5 and £24, you will qualify for one to four free bets.
As a reward for placing three sports spread bets in the space of 10 minutes, Spreadex will cover the cost of your fourth bet. The free bet will be up to the value of the lowest stake in the qualifying bets and will be placed at the mid-point of the spread.
Sports Markets & Odds
SpreadEx stick to the major sports that are popular in the UK and Western Europe. They have a total of 19 different sports available to customers in addition to financial betting. Football dominates the homepage.
For football matches, SpreadEx’s margin is typically around 0.2 goals which is decent. For instance, for Burnley v Tottenham, the spread was 0.8-1 goals in Tottenham’s favour. So if a bettor had a stake of £100 per goal, and they ‘bought at 1’ (expecting Tottenham to win), and the result was 3-0 to the Spurs, then the total pay-out would be £200. 3 goals – 1 goal = 2 points x £100 = £200 profit. If Burnley won 1-0, then the loss would be £100.
Horse racing is also a major part of SpreadEx sports’ service. Bettors can place bets on individual horses, distances, saddle cloth number of the winner etc. In addition to the spread betting, there is also regular markets for customers.
As mentioned, SpreadEx also have a regular bookie section. The following total book percentages were observed for a cross section of sports:
Football – 105.5%
Basketball – 108.7%
Cricket – 106.5%
Ice Hockey – 106.5%
Tennis – 107%
All of these odds are okay, but are definitely not overly competitive in the world of online betting. The upside is, the number of additional markets for bettors to wager on is impressive for all sports.
SpreadEx sports offer accounts in GBP, USD, EUR, CHF and CAD. However, they are happy to look at requests for different currencies on a case by case basis, and some larger staking players may be able to negotiate having their desired denomination.
How To Deposit And Withdraw
SpreadEx accepts the following payment types:
Visa debit/credit cards
SpreadEx sports do not charge for payments using a UK debit/credit card or for making bank transfers. There is however, a 2% administrative fee for all credit card payments. There is also a 2.5% flat fee on card transactions that are not made in pounds sterling. At present, the company do not accept any third-party payments or e-wallets such as Moneybookers, Paypal, Neteller etc.
The minimum withdrawal that can be made is £50 (assuming it is not being used to support the margin on any positions). The maximum card withdrawal is £25,000, apart from MasterCard, where the maximum is £2500. Although there isn’t officially a charge to use a debit card, SpreadEx reserve the right to implement a £1 fee for any transaction under £50 – the site is clearly designed for the bigger staking bettors.
Unfortunately the bookmaker does not offer services to clients in the following countries:
Belgium, Angola, Canada, Cambodia, Denmark, Guyana, Italy, Iraq, France, Kuwait, Spain, Lao, United States of America, Namibia, Singapore, Nicaragua, North Korea, Pakistan, Iran, Panama, Algeria, Papua New Guinea, Ecuador, Sudan, Indonesia, Syria, Myanmar, Uganda, Afghanistan, Yemen, Albania, Zimbabwe, Israel, Hong Kong, Philippines, Taiwan, Indonesia, Qatar, Australia, Russia, Azerbaijan, Thailand, India, Tunisia, Israel, Turkey, Japan, Ukraine, Malaysia, South Korea and Romania.
Customer services are open 24 hours a day, which is always great. They can be reached by phone on the following numbers:
SpreadEx have an extensive help section that can help clients find answers to their questions. There is an FAQ section for Account queries, sports, and technical questions. There is also a glossary that can help demystify some betting terminology.
Betting On The Move
So far, SpreadEx have shunned a downloadable app and have optimised for a mobile optimised website. The site automatically loads when visited from a handheld device, and iOS, Android, Windows and other devices are supported. All of the same functions can be performed as the desktop site, and everything loads very quickly. The sports are located on a horizontal scrolling bar at the top of the page, and there are live odds and spreads for different sports in the centre of the page. The site is responsive, intuitive and well-design and it gets the thumbs up.
SpreadEx sports have a spread betting service and a conventional bookie. Their undoubted focus however is on the spread betting, and they deal with high staking bettors. For lovers of a spread bet and getting paid more the more right you are, SpreadEx is a great firm to sign up for an account with.