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Online betting company Spreadex records best-ever betting figures

3/12/2009
The trading firm Spreadex have reported that despite the financial woes of the previous week their figures have actually been steadily rising. Whist most city trading firms were left counting the cost of the financial woes in Dubai, Spreadex were reporting the highest monthly bet numbers its 10 year history during October. The numbers, which includes trades made on the company’s ShortandLongs.com platform were up 8.6% on the previous best and were undoubtedly aided greatly by the launch of the company’s website.

Spreadex spokesman Andy MacKenzie explained: “Like most firms, 2009 has been a tough one for us with many of our customers being, quite rightly, extremely cautious with their trading after the tumultuous events at the back end of last year when the markets were in freefall.” “But with the FTSE having added 50% from its March lows before last week’s pullback, we’ve seen more and more people gaining confidence in the market conditions, culminating in last month’s record high levels of bet numbers.

“While some spread betting firms have been raising their margin rates recently, we’ve actually reduced our spreads, margins and minimum trade level requirements and that has also helped us gain custom from our competitors” he continued.

Discussing the successes of ShortandLongs.com Mr. MacKenzie said “For our ShortsandLongs.com platform it was the busiest month we’ve had since the site launched in October 2008, while our sports division saw its highest number of bets taken since the football European Championships in June 2008.

“We have a client base that, while predominantly based in the south-east, covers the length and breadth of the UK so it’s encouraging to see people picking up their trading at rates last seen well before the downturn.” With the 2010 Word Cup in South Africa fast approaching, the site could be in for even higher figures come the summer.
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