Ted Menmuir
November 9, 2023
Europe, Latest News, Retail, UK
Spreadex has acquired long-standing rival Sporting Index, agreeing on buyout terms with owner Groupe FDJ.
As reported by Racing Post on Monday, FDJ agreed to sell Sporting Index to spread betting rival Spreadex, with the latter choosing to “remain tight lipped on deal terms.”
Founded in 1992, Sporting Index is recognised as the pioneering company in spread betting, providing odds on the accuracy of a wager, rather than a standard “win or lose” outcomes offered by fixed-odds betting.
Significantly for the UK market, Sporting Index was the first operator to offer a ‘cash-out’ option by providing market opening and closing positions for its spread betting customers.
Of distinction, Sporting Index’s political markets were often referenced by media, allowing punters to predict the outcome of General Elections against the accuracy of polls.
Since 1992, the company has undergone several ownership changes over the years, with its value ranging from £53m to £76m during past sales between private equity funds.
In 2019, Sporting Index came under the ownership of FDJ, as the French lottery group acquired parent company Sporting Group to launch its B2B technology unit, primarily through the trading and risk management services offered by Sporting Solutions.
Acquirer Spreadex was founded in 1999 by city figurehead Jonathan Hufford, who headquartered the business in St Albans, Hertfordshire. Last year, Spreadex reported corporate profits of £27m (financial year ending 2022), as the business returned to normalised trading following COVID-19 pandemic.
The Racing Post was informed by Spreadex that it plans to continue operating both brands separately and has already introduced new product features for Sporting Index.
Check Also
FDJ closes €380m PLI deal to begin Irish journey
Groupe FDJ has finalised its €380m acquisition of Premier Lotteries Ireland (PLI), a transformative deal …
FDJ hits lotto drags ahead of ZEturf and PLI enlargement
Groupe FDJ has cited stable year-to-date trading ahead of its corporate expansion integrating the new …
Spreadex named Blackburn Rovers betting partner in three-year deal
Spreadex has announced that it has become the UK betting partner of Blackburn Rovers ahead …
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide.
With a career spanning over a decade, John has honed his expertise in various aspects of gambling, from strategic gameplay to industry trends and regulatory developments. His articles are revered for their blend of comprehensive research, astute observations, and a knack for demystifying complex concepts for both novice and seasoned players.
Beyond his writing prowess, John has established himself as a trusted authority, often sought after for his expert commentary on the ever-evolving landscape of the casino and betting industry. His passion for responsible gambling and commitment to ensuring players make informed choices are evident in his work, making him a beacon of integrity in an industry that demands such values.
Whether you’re a casual gambler or a dedicated enthusiast, John Sommers’ contributions to TwinCasinos promise to be an invaluable resource for navigating the dynamic world of gambling.
Latest posts by John Sommers (see all)
Author: John Sommers
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide. With a career spanning over a decade, John has honed his expertise in various aspects of gambling, from strategic gameplay to industry trends and regulatory developments. His articles are revered for their blend of comprehensive research, astute observations, and a knack for demystifying complex concepts for both novice and seasoned players. Beyond his writing prowess, John has established himself as a trusted authority, often sought after for his expert commentary on the ever-evolving landscape of the casino and betting industry. His passion for responsible gambling and commitment to ensuring players make informed choices are evident in his work, making him a beacon of integrity in an industry that demands such values. Whether you’re a casual gambler or a dedicated enthusiast, John Sommers’ contributions to TwinCasinos promise to be an invaluable resource for navigating the dynamic world of gambling.
Recent Comments