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Spread betting can be highly lucrative once you know what you’re doing. A spread bet is a wager in which the payoff changes based on the accuracy of the wager.
The more accurate the bet, the greater the payoff. Likewise, the less accurate the bet, the greater the loss.
Once you have got started with spread betting, you will see that there are a few different sites around. Which site is best for spread betting?
In this review, we will separate the wheat from the chaff and look at the advantages and disadvantages of some of the top spread betting sites available this year.
|Bookmaker||Aesthetics||Ease of use||Market|
|Spreadex||5/5||4/5||4/5||Up to £300 cashback via this link||13/15|
Spread betting is growing and growing in popularity. It provides bettors with the opportunity to move away from fixed odd outcomes.
It is very important to understand the basics with spread betting, more so than other betting techniques. This is because there is always the potential to lose a lot of money.
Once you have decided spread betting is for you, which site to use is the next question.
Table of Contents
Spreadex was founded in 1999 by an ex-City dealer, who was attempting to make spread betting more accessible to the wider public.
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They have been very successful since their founding, and have been featured in the Sunday Times PwC Profit Track 100 for three years in a row.
Spreadex offer financial spread betting, sports spread betting, fixed-odds betting and an online casino.
They also run a pitch at Kempton Park Racecourse. At the time of writing, Spreadex employ over one hundred people.
They have a good website that it is easy to use. I like the standard black text on a white background which makes it easy to browse through at a glance.
They have a lot of markets so there is a lot of information in one place, but they manage the space well.
There are many events which you can watch directly on the website as long as you place a bet on the event. This includes tennis, horse racing, football and cricket.
They have an app for ios and android phones, and the website is optimised for mobile use. At the time of writing, you can’t deposit funds on your mobile, only on the full website.
Spreadex has one of the biggest ranges of sports to bet on in the spread betting world. They offer markets on football, cricket, horse racing, tennis, cricket, American football, and others. They also offer bet-in-play markets for most major events.
The in-play betting with Spreadex is one of their best features, and allows you to cash-out early, and set up auto cash-out limits.
Spreadex has an online blog where they pick their top bets of the month and offer valuable insights. It is well worth checking out.
They are regulated by the FCA, and they do require you to jump through a few hoops when making your account.
This is standard when it comes to spread betting due to the potential to lose an amount greater than your stake. It can take a few days for you to pass compliance and be able to place trades.
Spreadex also offer bets on credit. When you open your account, you can apply for credit of up to £2000. This means you can get started without having to deposit funds into your account.
Currently, Spreadex is offering a free iPad or up to £300 cashback in your first 28 days with them. Just place bets on qualifying markets up to £300 in your first 28 days to get yours.
They also offer occasional ‘spread-free’ bets which are worth taking advantage of. This means that instead of having to buy or sell above or below the spread, you can bet at the midpoint of the spread.
Spreadex has a very successful financial trading side. If you are doing well in sports spread betting, it may be worth checking out the financial side.
This is where Spreadex are ahead of the competition as neither of their main rivals offer this service.
At the time of writing, Spreadex, unfortunately, do not offer a free demo account for practising spread betting before you start with real money.
Sporting Index Review
Sporting Index is the biggest spread betting company currently out there.
They have been around since 1992 and now have over 300 employees. Their website claims that they have a market share of over 70% for sports spread betting.
Sporting Index offer markets on many different sports, politics, events, and online virtual games and casino games.
They do not offer financial spread betting like Spreadex do.
All of the sports markets offered by Sporting Index are as follows: American football, baseball, basketball, boxing, cricket, darts, football, golf, greyhounds, handball, horse racing, ice hockey, motor racing, rugby union, tennis and volleyball.
The specific markets in each sport are also very numerous.
Football is one of their most popular markets, and sub-markets include supremacy, goals, goal times, handicaps, correct score, and even own goal minutes. This is just a handful.
They are well-trusted as they have been around for many years. Users report that payouts are fast and reliable.
The website itself is starting to look a bit dated. Personally, I am not a fan of the white text on a blue background, but that is up to the individual. They also offer a very reliable app for mobile devices so you can bet on the go.
Sporting Index run a spread betting blog that offers tips and tricks.
They also look back at previous events with statistical analysis to help you predict your next result.
You can check out the entire history of results for any particular sport through their Results Centre. This is a big help in looking up past events to help you pick your winners in the future.
The customer service offered by Sporting Index is second to none. You can contact them via live chat, email or telephone. They are also very active on Twitter.
At the time of writing, Sporting Index are offering £100 sign-up bonus.
This means you can sign up and use their free £100 to start betting straight away. You will be covered for your losses up to £100, but remember, if you lose more than this then you are liable to pay!
Sporting Index are also offering another bonus.
If you refer a friend and get them to sign up to Sporting Index, you can earn yourself a nice £100 referral fee. All you need is for them to make an account and settle three bets (with as minimum £5 stake).
Sporting Index have several different deposit options.
These include credit/debit card, bank transfer, and both Neteller and Skrill. Note that credit card deposits have a 1.50% charge. Withdrawals are instant for both Skrill and Neteller but will take 3-5 days for other methods.
You can get yourself a free trial of Sporting Index to try it out for yourself.
This free trial lasts for 14 days and allows you to place practise bets. This can help you see how prices move throughout an event and teach you what to look out for when placing your bets.
SportsSpread is an Ireland-based spread betting company. They have been around since the year 2000, and have been online since 2001.
They offer markets on American football, baseball, golf, football, tennis, cricket, rugby league, rugby union and horse racing.
SportsSpread have a handy Spread School where you can learn all about spread betting and get a few tips from the pros.
They do offer a few markets that the other two big sites don’t. This year they will be offering spreads on the NFL and are advertising that they will have the ‘best spreads’. Time will tell if this is the case.
Being based in Ireland, they also offer markets on Gaelic football which the other two big sites do not offer.
Their website is probably the worst looking out of the three sites reviewed here. It is pretty dated and not particularly user-friendly.
They have a few different promotional offers.
Online Spread Betting
If you sign up for a new account on SportsSpread, they will match your initial bonus up to the value of £1000.
There is a turnover requirement for this bonus and is usually about three times your deposit value added to their top-up.
This means if you deposit £50 they will match it with £50, and you, therefore, must turnover £300.
They also offer a loyalty rebate of up to £1000 each month. You can still claim this rebate even if you win.
SportsSpread are regulated in the Caribbean and are not regulated by the FCA in the UK. This has led to a few horror stories online of people unable to withdraw their winnings.
You can deposit funds online either through debit or credit card, although a fee applies for credit card deposits.
Looking up the company online reveals a pretty bad history.
Around 2013-14 there a lot of stories of people not being able to withdraw their winnings. The company has changed hands since then but there is still a stigma surrounding them.
Other Spread Betting Services
There are a handful of other services out there that cater for spread betting. Most of these programs are tipster services that send out their best picks for the day. They usually charge a monthly fee of around £20-30.
These programs will offer odds usually through the two main spread betting sites Spreadex and Sporting Index.
There are mixed reviews of their services available online.
Legal Betting Sites
Some reviewers had a great trial month, making up a few hundred points. However, there are a fair few reviews out there where the trial lost money, one of which almost entirely lost a £1000 initial bank.
Our advice is always to make your own mind up when it comes to tipsters. While £25 a month isn’t a huge sum, you can pick and choose your stakes and if a selection doesn’t seem quite right to you, it’s best not to place your bet.
With spread betting, it’s always better to be safe rather than sorry. It might be worth trialling a spread betting tipster yourself to get a handle on which selections they are looking for, and then start to make your picks. It’s your money!
Sporting Index is the big daddy of the spread betting world. They have excellent market options and their sign-up offer is probably the best in the industry. The website could be a little better looking, but this is down to personal opinion.
For us, Sporting Index is the pick of the bunch, and our number one recommendation for sports spread betting in 2020.
Spreadex is a great service offering good spreads and a great range of markets. They have pretty much any market you could want and have great ease of use. Their website looks good and is easy to navigate.
Their current offer is good value and is easy to make sure you meet the requirements.
SportsSpread comes out at the bottom of the main sports spread betting sites. Their website is clunky and in dire need of updating.
Their offers seem pretty reasonable, but the likelihood of actually receiving them is pretty slim based on user reviews.
While they have made progress over the last few years, all the horror stories are still fresh in the minds of punters, and for that reason, we would suggest to stick with the two big dogs for the time being. Time will tell if SportsSpread becomes a major player in sports spread betting.
Based on our criteria, we would recommend Sporting Index for your spread betting needs.
That said, it is always worth checking out Spreadex as they do sometimes offer better spreads, and the website itself is, in our opinion, superior.