In a recent interview for ERG by Brad Allen Spreadex, MD Jonathan Hufford highlights Spreadex’s approach to customer service and the gambling markets.
It’s well worth a read but basically solidifies what we’ve always known. That is that the majority of sports spread betting punters are bigger and generally more sophisticated than your average fixed odds punter.
It was quite a surprise to see Spreadex (Read our Spreadex Sports Review…) offering fixed odds on their platform as it has traditional just been for spread betting on financials and sports. But, Jonathan Hufford explains that it’s not a market they are chasing, rather, the clients they have are so valuable to them that they put fixed odds betting in place to stop them going elsewhere for big events like Cheltenham.
We’ve always hailed Spreadex as a broker and bookie with excellent customer service. Such an important factor if you are a large punter. Especially when you are trading sports through relatively complex sports spread betting versus fixed odds. You don’t really get that sort of service with the only other options to lay bets, the betting exchanges, they tend to be totally digital. Rather than Spreadex where you can phone through your lays.
After all the article shows that around 2.25 million UK punters placed a bet last month – only 90,000 of those used spread betting – the majority of those would be financial bets. Even though the market is small it didn’t stop Spreadex paying a dividend of £20.1m last year. Or IG (who spreadex acquired the sportsbook from) being capitalised at over £2.8bn with revenues of £427 million.
You can read the full article here: EGR-SpreadexInterview
SPREADEX IN NUMBERS (from the article)
- 120 staff at the St Albans headquarters
- 7% percentage of turnover spent on marketing
- £20.1m dividend paid in 2015 to shareholders
- £22m pre-tax profits in 2015, a 19% YoY jump
- 9,000 customers placing a spread bet per month on Spreadex
- 65% percentage of sports stakes that come from in-play wagering
- 35% percentage of stakes that come from mobile devices