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Spreadex Review and Latest Sign-up Offer
Those familiar with sports spread betting will almost certainly have heard of Spreadex, one of the largest and most comprehensive spread betting sites in the world. Unlike many sites, their history stretches back to the late 90s, so there can be no arguing with the fact that they know exactly what spread betting fans want.
As with all spread betting sites, there is risk to playing at Spreadex. This is because losses can be more significant than those accrued at standard fixed odds sports betting sites. Of course, there’s also the fact that wins can be considerably higher as well. Those concerned about large losses can regulate the risk, by betting lower sums of money on their selections. If you’re completely new to spread betting but are excited to learn, you’ll find plenty of educational pages on the subject at Spreadex, which are available to both members and non-members alike.
One very important thing to mention before getting on with this this Spreadex review is the fact that this is an exceptionally safe place to play. This is because Spreadex spread betting is licenced by the Financial Conduct Authority, while the fixed odds sports book is licenced by the Gambling Commission and the Alderney Gambling Control Commission. With this level of oversight, it’s not possible for Spreadex to treat their players in an illegal or unethical way.
Finally, it should be mentioned that while Spreadex is primarily a spread betting site, it is also possible to place fixed odds bets as well. Just select the event you want to bet on and then use the two buttons to toggle between spread betting and fixed odds.
To get started at Spreadex, you’ll need to click on the red “Join” button, which is found in the top-right of the homepage. You will then have to fill in some basic details to create an account, including your name, email address and chosen password. After submitting this form, you’ll be asked for more personal details, before then being taken to a page to assess your suitability. This is to ensure that anyone applying understands the risks associated with spread betting. The final form asks more questions, including details of your annual income.
Once you have finished the application, you’ll see whether your application has been provisionally accepted. If it has, you’ll then be contacted by a member of the Spreadex team in order to confirm a couple of formalities. Once this is complete, you’ll be signed up with the site and ready to place some bets.
The whole process might seem a little intrusive, however we actually like the thorough nature of the application form. By ensuring they understand their customers well, they can put safeguards in place to protect players. It also allows them to establish whether they can safely provide a player with a credit limit, and if so, how much this credit limit should be.
There are very limited options for those depositing at the site. In fact, it is only possible to pay using a credit/debit card, direct debit, cheque, bank transfer and Barclays Pingit. This means that PayPal, Skrill and Neteller – three options offered at many other betting sites – are not available to use at Spreadex.
There is no minimum deposit fee found at Spreadex, which ensures that players of all levels can deposit and play. Remember that it is possible to lose more than you have in your Spreadex account though, and if this happens, they will expect quick payment. All deposits under £50 have a £1 fee attached to them, however deposits over this amount are free.
Those looking to withdraw will only be able to withdraw any money not being used to support any open positions. The minimum that can be withdrawn is £50, while the different withdrawal methods all have their own maximum limits. There are no fees for withdrawing any money you’ve won from the Spreadex website.
In terms of payout speed, those withdrawing using a credit/debit card will find that it takes 2-5 working days. Those withdrawing using bank transfer will have their money within two working days. It is possible to request a same-day transfer of money, however this comes with a £25 fee attached to it. Same-day transfers for anything over £50,000 must be requested by 10am, while same-day transfers under £50,000 must be requested by 1pm.
New Customer Bonus
The new customer bonus offer at Spreadex is a particularly enticing one. All players staking £300 or more on qualifying spread bets over their first 28 days at the site will receive £300 cashback into their account, or alternatively they can choose to receive an iPad instead. Those staking less than £300 will find that the amount they bet is matched – for example, someone staking £100 over the time period will get £100 given back to them in cash.
There’s nothing to do in order to enter this promotional offer, as instead every new player is automatically entered. By default, cashback will be given once the requirements are met. Those who would prefer to receive the iPad will need to contact customer support. Please be aware that not all bet types will count as qualifying bets, so take a look through the list, which is found on the Sports Account Opening Offer page, before you start placing bets at Spreadex.
There is no new customer bonus on offer to those who would prefer to make fixed odds bets at the site.
Existing Customer Bonus
There are a couple of existing customer bonuses, and the first is a particularly innovative one. It’s called Spread Free Bets and it is offered to anyone placing three spread bets on the same sport’s qualifying markets within 10 minutes. When this condition has been met, it will be possible to place a fourth spread bet, at the mid-point stake. So, if the spread is 0.4-0.8, you’d be able to sell or buy at the mid-point, which is 0.6. The size of the bet you can place is equal to the lowest qualifying bet made.
The only other promotion available is a Refer-a-Friend bonus. Players just need to refer a friend to Spreadex and when they’ve opened an account and made five qualifying spread bets, they referrer will receive a spread bet worth £100 on a Total Goals market. It is vital that the friend mentions the referrer’s name and postcode when applying, otherwise no bonus will be given out.
We would advise everyone to keep an eye on Spreadex’s social media pages, as these are occasionally used to advertise new bonuses and promotions.
Quality of Odds
When it comes to the quality of the odds, there are two different things to look at. The first is how competitive the spread is in the sports spread section. With Spreadex being such a large name in the industry, it should come as no surprise to find that the spreads offered are consistently competitive, when compared to other spread betting sites.
Then there are the odds offered to those looking to place fixed odds bets. We compared them to the odds found at many other sites, and found that, while not the most generous around, they are consistently solid and therefore offer a fair return in most circumstances. Therefore, Spreadex is a good choice for both spread bettors and those looking for a more traditional sports betting experience.
Bet In-Play Options
In-play betting is offered both for spread betting and fixed odds betting. In-play markets are found for a decent array of different sports, however football is undoubtedly the most popular. Spreads/odds offered to in-play bettors are fair and the site updates quickly, ensuring players can easily place live bets.
We particularly like the layout of the in-play pages for different events. All bets are laid out in an intuitive way, meaning players can find them quickly – something that’s important when looking to sneak in a quick bet before a corner, for example. We also really like the information provided to players throughout an event. It is even possible to watch some sporting contests live on the site, which will make in-play betting even more rewarding.
Sportsbook Betting Products
One of the weaker aspects to Spreadex is the fact that they don’t offer a huge range of different sports to bet on. The main ones, such as football and horse racing, are of course offered, but other sites also give players the chance to bet on more niche sports too. Below you can see the range of sports offered to those betting at Spreadex…
- American football
- Australian rules
- Horse racing
- Ice hockey
- Rugby league
- Rugby union
- Virtual sports
Non-Sports Betting Products
There are two other options offered to those at Spreadex, and the first is traditional financial spread betting. This offers a number of different options to users and caters towards both new and experienced financial spread bettors. Various markets are on offer, including indices, shares and forex. For those interested in financial spread betting, Spreadex has to be counted as one of the best platforms around.
There is also a casino at Spreadex and it’s a surprisingly good one. Players will find standard casino games from NetEnt on offer, plus there is also the chance to play live dealer games, which are the closest it’s possible to come to playing in a real casino, without having to leave your own home. The overall range of games isn’t huge, however there are more than enough titles to keep the occasional casino player entertained.
Do They Do Specials?
Unfortunately, there is no section for specials found at the Spreadex site. The large range of standard bets should be enough for the vast majority of gamblers though.
Enhanced odds are not offered to fixed odds players at Spreadex. This is not a massive issue though as the site already offers odds that compare well with other sports betting sites out there.
Mobile App Experience
It will come as no surprise to find that a site as popular as Spreadex offers mobile apps for both iOS and Android users. Those with iPhones and iPads can download the app from the App Store, while those with Android smartphones and tablets will find the free download at Google Play.
The Spreadex app is a comprehensive one, allowing users to place spread bets and fixed odds bets. The app is easy to use, without a confusing layout, plus it is fast, saving gamblers from having to wait too long to place a bet. Most features available to desktop users are also offered to app users, including streaming events and live betting. You will also find apps for Spreadex financial spread betting and the Spreadex casino, if you’re also interested in these.
As with all good websites, it is also possible to access Spreadex using your mobile’s browser. The mobile website is also intuitive and well-designed, plus it allows players to do everything the app offers. Whether you use the app or the mobile site really is down to personal preference – one can’t be declared better than the other.
Customer Service Reputation
The customer service reputation at Spreadex is generally pretty good, with most queries being answered quickly and accurately. The simplest way to make contact is undoubtedly via the live chat option, which is accessed via the tab at the bottom of every page. Alternatively, it’s possible to call them on 08000 526 575 (+44(0) 1727 895 090 for those outside of the UK) or email them at [email protected]. The Help & Support section is particularly comprehensive, giving answers on many subjects, so look there before contacting the customer service team.
Those looking to place fixed odds sports bets will find that there’s a long list of countries that are restricted. These countries are:
- Czech Republic
- Hong Kong
- New Zealand
- North Korea
- Papua New Guinea
- South Africa
- South Korea
- Sri Lanka
- United Arab Emirates
- United States of America
It should be noted that these restrictions also apply to those looking to play at the casino. There are no restrictions found at the site when it comes to spread betting though.
Overall, it has to be said that Spreadex is one of the best – if not the best – spread betting site found online. Check out the pros and cons of betting at this site below…
- Huge new customer bonus
- Well-respected name
- Intuitive app for iOS and Android
- Competitive odds for fixed odds bettors
- Comprehensive in-play experience offered
- Reasonably small selection of sports
- Not a huge number of promotions
- Small number of banking options
There can be no doubting the fact that Spreadex is an exceptionally good sports spread betting platform, plus it also manages to hold its own in the fixed odds betting market too. While the number of sports offered isn’t huge, each event on offer is covered comprehensively, with many different markets. The spreads and odds are generally pretty good too.
There are a few small issues with the site, such as the limited banking options and small number of promotions, however these aren’t enough to change the fact that this is an exceptionally good place for fans of sports betting to sign up with.
How does spread betting work?
Spread betting works by the bettor choosing whether to bet over or under a figure. For example, there might be the option to bet over 53 points in an American football game, or under 50 points. The more your bet wins by, the more money you’ll win. Conversely, the more your bet loses by, the more money it will cost you.
Should I choose spread betting or fixed odds betting?
This really depends. If you are concerned about taking too many risks, then fixed odds betting is the right choice for you. If, however, you are confident in your ability to pick good bets, you’ll find that spread betting offers larger potential prizes. Many people actually choose to do both, varying which they use depending on factors like the market and the potential winnings.
How do I stop myself spending too much?
It is possible to create a stop loss, which will allow you to request that the trade be closed off with a loss. This can stop large losses from building up. You should also take some time in order to understand how bet sizing can affect risk. This is because by making smaller bets, you can significantly limit losses when spread betting.
Is spread betting legal?
Yes, spread betting is completely legal in the UK, meaning that anyone over the age of 18 will be allowed to take part. Spread betting at the site is regulated by the Financial Conduct Authority, so you can always be sure that Spreadex is offering a legal service. Fixed odds betting is also legal and is regulated by the Gambling Commission and the Alderney Gambling Control Commission.
What does betting using credit involve?
Spreadex is one of the only spread betting sites that allows players to bet with credit. This means that players borrow money from the site and will be expected to pay it back promptly. Everyone can apply for a credit limit of £2,000, however anything higher than this will require the player to go through further checks and provide additional documentation.
Specification: Spreadex Review
GB Gambling Commission
|New Customer Sign Up Offer|
Get an iPad or up to £300 Cashback in Your First 28 Days!
Bet on qualifying sports spread bet markets + cashback bonus after 28 days matching your stakes, up to max. £300. At £300+ get either £300 cash in account or an iPad. If you reach £300 and would prefer to receive an iPad, email [email protected] or call 08000 526 575 or 01727 895 090 and we will arrange for the iPad to be sent to you.
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