Type Privately Held Website www.spreadex.com Headquarters St Albans, United Kingdom Parent organization Spreadex. Com Limited | Industry Financial Services Founded 1999 Number of employees 100 | |
Key people Jonathan Hufford Managing Director Products • Financial spread betting
• Sports spread betting
• Fixed-odds betting
• Casino Profiles | ||
Spreadex share prices for companies in the uk ftse 100 index
Spreadex Ltd is a British-based company that offers financial spread betting, sports spread betting, and sports fixed-odds betting.
Contents
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History
Spreadex commenced trading in 1999 in Dunstable, Bedfordshire. It was founded by former City dealer Jonathan Hufford with the intention of making spread betting more accessible. The business relocated to St Albans, Hertfordshire in February 2008.
In May 2006, Spreadex launched an online sports betting service and soon after launched a financial online trading platform. In May 2010, the company launched a fixed odds sports betting service allowing bets to be placed in both fractional and decimal format.
Spreadex was listed in the Sunday Times PriceWaterhouseCoopers Profit Track 100 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. This was followed in January 2012 by the purchase of the client database of bankrupt company MF Global 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.
In March 2013, Spreadex released its new financial fixed odds markets, also referred to as "Speed Markets", 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.
Operations
Spreadex takes bets via telephone, mobile, and their website.
Spreadex owns financial spread betting 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.
Spreadex also operates a fixed odds betting pitch at Kempton Park Racecourse.