Spreadex UK Review - Is It Safe or a Scam? (2024)
Spreadex is a leading UK spread betting site in the UK, which also offers fixed odds and a casino section. While most punters will know of the brand as one of the spread betting greats, they might have questions about the rest on offer. In this review, therefore, we will take a look at everything you need to know about Spreadex.
Spreadex Sports offers
Spreadex Overall Score
| Bonus | 9 |
|---|---|
| Sportsbook | 9 |
| Casino | 7 |
| Customer Support | 8 |
| Payment | 6 |
| Licensing Safety | 10 |
| Design and Usability | 7 |
| Overall | 8 |
There is little doubt about Spreadex's position on the market when it comes to spread betting, offering the latter for several sports and with a great depth of markets as well. When assessing the complete package, however, it is clear that the verdict will vary depending on the punter's needs. The welcome offer is very good, albeit not for the casino, and the sportsbook is indeed comprehensive even for fixed odds.
To this, we must also add the good reviews of the betting app, though the casino section has once again been left in the dark here. On the other hand, there are very few payment methods and the promotions offered are not brilliant, while 24/7 customer support is not offered currently. As said, therefore, a lot will depend on the needs of the individual punter.
About Spreadex
Founded in 1999, Spreadex is a complete gambling product which offers spread betting, fixed odds and an online casino for UK punters. Spread betting is certainly the flagship product of the site, especially since it was the first one offered. The fixed odds and the casino section, meanwhile, were only introduced in 2010 and 2011 respectively.
Spreadex has also gained some new fans thanks to the sponsorship of the football club Sunderland, as well as the snooker tournament World Grand Prix. Indeed, in recent years, it has become more and more common for betting sites to increase their visibility with sports. Recently, Spreadex also acquired the competitor Sporting Index, further cementing its position.
If you are unfamiliar with how spread betting works, you essentially bet on whether the result will be above (Buy) or below (Sell) the spread. The latter is a range the betting company, in this case Spreadex, predicts for the outcome of an event. You can click the link for more information on the matter, which could be worth it given that spread betting has grown in popularity.
In this review, we will focus on everything that Spreadex Sports has to offer in the UK, including the fixed odds and the casino section. We will highlight the pros and cons of the site, helping you make an informed decision about whether or not to sign up. But without further ado, let's dive in!
Is Spreadex Safe?
Spreadex is owned by Spreadex Limited, which is licensed and regulated by the Gambling Commission in the UK. This means that it is considered safe for UK punters to sign up on the site. As we have said many times before, though, the licence is not a guarantee for a great experience. It is important, therefore, to dig a bit deeper.
In Spreadex's case, it actually seems like a very good bookmaker given the Trustpilot rating of 3.8 out of five stars. 60% of the more than 1,000 reviews, in fact, are five-star and the average is indeed rather high for a bookmaker. Even some of the best betting sites in the UK can struggle with poor ratings on Trustpilot, so Spreadex's rating cannot be overstated.
Spreadex Welcome Offer
Potential new customers will be happy to find out that there is an exclusive bet £10 get £40 welcome offer available on Spreadex. In order to claim this, punters must place a fixed odds pre-match bet of £10+ at a minimum odds of 1/2 (1.50). Once this bet has been settled, the free bets will be credited as follows: 2x £10 free fixed odds bets, 4x £5 free spread bets and £1 Race Index spread bet.
As previously mentioned, it is certainly worth familiarising yourself with spread betting if you are looking to sign up on the site. The free bets will expire after 28 days, which is more generous than some betting sites (7 days seems to be the standard), and the free bet stakes will not be included in winnings. All in all, therefore, it can perhaps be considered among the best welcome offers in the UK.
Having said that, players who are looking to sign up for the Spreadex casino will be disappointed to hear that there is no welcome offer for this section of the site. Fortunately, there are plenty of other casino welcome bonuses to claim.
Spreadex Promotions
Taking a look at the promotions section, there are a few that punters can make use of at Spreadex. Football punters can boost their acca winnings by up to 75%, starting at 5% with three selections (16 needed for the maximum). There is also a free bets club of sorts, but it is not that easy for punters to qualify with three qualifying bets within just 10 minutes needed.
The standard racing promotion Best Odds Guaranteed is a notable omission, in fact it could be enough for most horse racing punters to not sign up. On the bright side, Spreadex does pay out on a first-past-the-post basis on UK and Irish races, while punters can also get their money back up to £25 as a free bet if the backed horse loses to a 33/1 SP winner.
The promotions section could certainly be improved at Spreadex, with some sites offering great promotions, but it is not horrible as things stand either. The limitation to football and horse racing, furthermore, is normal but disappointing nevertheless.
Spreadex Deposit
One of the disadvantages of signing up at Spreadex is certainly the list of payment methods. While UK punters have become used to depositing with Apple Pay or the popular e-wallet PayPal, for example, none of these are offered on Spreadex. Debit cards and bank transfers are the only options, which says all you need to know.
In order to compete with the best sites out there, Spreadex will at least have to add an e-wallet to its list of payment methods. Of course, the lack of the latter also affects withdrawals - which we will come to - but below are the details about deposits at Spreadex:
| Payment Method | Minimum Deposit |
|---|---|
| Debit Cards (MasterCard, Maestro, Visa) | £10 |
| Bank Transfer | £10 |
How to Deposit at Spreadex
- Make sure you are logged in to your Spreadex account
- Tap on 'My Account' in the top-right corner and then on 'Deposit'
- Choose your preferred payment method and enter the relevant details
- Tap on 'Register Card' to save the method, if it is the first time
- Choose the sportsbook (spread or fixed odds) and enter the amount
- Tap on 'Submit' to complete the process
Spreadex Withdrawal
Withdrawals are just as disappointing as deposits at Spreadex, as you perhaps would have guessed earlier. The methods are the same and this means that fast withdrawals of funds are out of the picture. Unless you have a Visa Direct card, of course, but generally speaking it will take a few days. Spreadex also states that withdrawals below £50 must be withdrawn in one go.
The good news is that the minimum withdrawal is very low, set at £1, and this is something that most punters will appreciate. Does it make up for the lack of method? Certainly not, with methods like Trustly shining with their absence here. In any case, we have collected the withdrawal details below:
| Payment Method | Minimum Withdrawal | Processing Time |
|---|---|---|
| Debit Cards (MasterCard, Maestro, Visa) | £1 | 1-3 business days |
| Bank Transfer | £1 | Not Specified |
How to Withdraw at Spreadex
- Make sure you are logged in to your Spreadex account
- Tap on 'My Account' in the top-right corner
- Tap on 'Withdraw Funds' in the drop-down menu
- Choose your payment method and enter the amount
- Tap on 'Next' to confirm the request
How to Verify an Account at Spreadex
Just like any other Gambling Commission-regulated betting site in the UK, Spreadex has a Know Your Customer process in place to verify the identity of its customers. Spreadex aims to complete this verification process with the details provided during the registration, but sometimes customers may be asked to upload one or more of the following:
- Proof of ID: Photographic ID, such as a copy of your passport or driving licence.
- Proof of Address: A recent utility bill or bank statement.
You will be contacted by the Spreadex support team if these documents are needed, upon which further instructions will be provided. It is very important to comply with this process as failure to do so could result in an account suspension. Generally, as discussed in the 'Is Spreadex Safe?' section, the site is good at handling the verification process swiftly.
Spreadex Sportsbook
Taking a look at the Spreadex Sportsbook, punters will find just over 20 sports and while this is not the highest figure compared to other UK bookmakers, the caveat here is that all of these have spread betting markets. With that in mind, the figure is suddenly quite impressive and most punters who sign up will find what they are after.
Using a game in the Premier League as a reference, Spreadex offers an impressive 500-600 markets both for spread and fixed odds betting. This is among the highest, competing with the best football bookies, and there is also a decent bet builder (though without threatening the best bet builders). In short, football punters will likely be very satisfied with the offering at Spreadex.
Moving on to horse racing, Spreadex offers meetings from all over the world and we were particularly impressed by the ante-post betting markets selection on the site. And while live streaming is available for almost all races, we could not find any information about best odds guaranteed, which we also touched on in the 'Spreadex Promotions' section.
There is also a very decent section for betting on greyhound racing, meaning the overall racing coverage is comprehensive. Tennis is another one of the big sports on Spreadex, though it cannot compete with the best tennis bookmakers out there. As for the minor sports, Spreadex deserves praise for offering spread betting for these, but the depth of markets is not always great.
Taking a look at the betting margins, which is something that most punters tend to overlook, Spreadex averaged 6.79%. This is a bit on the higher side, calculated on the fixed odds, and punters will likely find much better value with the spread betting. It would have been nice to see some good margins with the fixed odds too, though.
As for special markets, customers at Spreadex can place bets on the next Eurovision winner and the next UK General Election, to name a few. Those who like to place some bets on Esports can also do so, with popular games such as Dota 2 and CS available. Overall, therefore, the sportsbook at Spreadex is fairly comprehensive, especially since most will be there for the spread betting anyway.
| Football Markets (Premier League Game) | 500-600 |
|---|---|
| Betting Margins (Average) | 6.79% |
| Horse Racing Coverage (Countries) | UK & Ireland + International |
Spreadex Casino
The Spreadex Casino has been a thing for quite some time now, first launched in 2011, and players are right to at least expect a decent standard. However, players will be disappointed to hear that the library is far from comprehensive with a mere 300+ games available during our testing. The casino is certainly not Spreadex's core product, in other words, but let's take a closer look anyway.
Slots make up a majority of the library, as you would expect, and it is rather easy to navigate with some categories at the top. There is also a search function that players can use to find the game they are after (provided that it is offered). The design, albeit simple and effective, is rather dull and this is something that a lot of players will not like.
The good news is that there is indeed a live casino section, in spite of Spreadex's otherwise minimal offering. Evolution Gaming is the only provider here, which is not necessarily a bad thing, as popular games such as Cash or Crash and Lightning Roulette are available to play. The live casino thus gets a pass, being pretty much at the same level as big online casinos in the UK.
As already touched on in the 'Spreadex Welcome Offer' section, there is no sign-up bonus for players at Spreadex and this is a huge disadvantage. Especially since some sites even offer no wagering free spins these days. In order to compete with the big sites, therefore, Spreadex will have to improve its casino library in general and also add a welcome offer.
Spreadex Mobile App
The Spreadex mobile app, at least when we talk about the sportsbook, is available on both iOS and Android. It has very good reviews on both the App Store and the Google Play store, with ratings of 4.7 and 3.7 out of five stars respectively. It is probably fair to say that it is one of the best betting apps in the UK, although the competition is fierce on that front.
The casino app, however, is only available on iOS and the average rating is straight down the middle (three out of five stars). The fact that the casino library cannot be accessed on Android, at least on a dedicated app, is a big disadvantage. It is probably something that Spreadex can remedy, though it needs to happen as soon as possible.
Spreadex Responsible Gambling
In recent years, as the Gambling Commission has been clamping down on social responsibility failures, betting sites have started to focus more on responsible gambling. There are usually various tools that customers can make use of in this sense, and some of the ones that are available on Spreadex include:
- Deposit limits (daily, weekly, monthly)
- Timeouts
- Self-Exclusion
- And more
Deposit limits are a great place to start as these can go a long way in preventing gambling addiction. Furthermore, these will force you to reflect on your betting habits, which is never a bad thing. There is a 'Responsible Gambling' page on Spreadex where customers can find information about all of the tools, as well as contact details for some third-party organisations.
Spreadex Customer Support
Given that the site has been around for quite some time, you would expect decent customer support and that is indeed the case. Contact options include live chat, email and telephone, which is already more than a lot of betting sites in the UK (especially the new ones). The live chat is bound to be the most popular option, though.
Unfortunately, support is not available 24/7 and this is something that Spreadex should look to improve. At the very least, the support hours cover most of the day (07:30-22:00) and this should help reduce potential issues for customers. There is also a fairly comprehensive FAQ section, although it can be a bit tough to navigate, and we have certainly seen better ones in the past.
| Chat | Yes |
|---|---|
| info@spreadex.com | |
| Phone | 08000 526 575 |
Opening hours
| 7 days a week | 07:30-22:00 |
|---|
How to Get Started at Spreadex
If you are looking to sign up for an account on Spreadex, you can follow our step-by-step guide on how to do so below:
Head Over to Spreadex Sports and Tap on ‘Join Here'
You can use our link at the top of this page, or the 'Visit' one in the bottom banner, which will bring you straight to the exclusive welcome offer and the registration process.
Enter Your Account Details
In the first step of the registration, you will need to enter your email address and choose your username, as well as password. You also need to provide your name at this point. Scroll down to continue once this is done.
Choose Your Country and Accept the T&Cs
In the second step of the registration, you will be asked to choose your country of residence and nationality. You also need to opt in/out of marketing messages, as well as accept the terms and conditions.
Add Your Personal Information
In the third step of the registration, you need to enter your personal information such as date of birth, phone number and full address. Scroll down once you have done this to continue.
Set a Security Question and Tap on ‘Join Spreadex'
Before you can tap on 'Join Spreadex', thus completing the process, you need to choose a security question and answer.
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