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Sporting Index is a British-based company specialising in sports spread betting. It claims an estimated UK market share of over 70%. [2] The company is best known for spread betting; offering a wide variety of sports, politics and showbiz events, as well as a portfolio of unique virtual games. The betting firm also provides a Fixed Odds service.
For example, in a cricket match a sports spread betting firm may list the spread of a team's predicted runs at 340 – 350. The gambler can elect to ‘buy’ at 350 if they think the team will score more than 350 runs in total, or sell at 340 if they think the team will score less than 340.
Spreadex has three main products – sports betting, financial trading and casino gaming – and takes a range of bets via desktop, mobile, tablet and telephone. The sports product offers both sports spread betting and sports fixed odds betting including features such as Bet-Builder, Auto-Cash Out and Live Streaming. [17]
Finspreads is a London-based [1] online financial spread betting firm [2] [3] that offers customers access to various instruments on the world's financial markets through online and mobile trading platforms. [4] [5] Along with IFX Markets, FX Solutions and City Index Limited, it is a trading name of City Index Group. [4] [6] [7] [8]
City Index was founded by Chris Hales and Jonathan Sparke in September 1983 and started trading in March 1984 offering spread betting. In 2001, the company launched its CFD Trading function in the UK. During 2005, City Index acquired the IFX Group, in doing so procuring FX broker IFX Markets and spread betting provider Finspreads.com.
In 2011, IG Group reported a net loss of £25.5 million, largely due to regulatory changes in Japan that restricted leverage to 10 times, significantly lower than the 100 times or more the company previously offered. The company also shut down its sports betting service, extrabet, due to declining revenues, incurring £5.3 million in closure costs.