ON first glance, Spreadex didn't really look like my cup of tea. Spread betting isn't something I'm too familiar with, and the financial trading platform struck me as something from The Wolf of Wall Street.
But having thoroughly explored the website and app, I've found that Spreadex has all the features of a 'traditional bookmaker' with everything I've grown to expect such as price boosts, free bet bonuses and bet builders.
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So if, like me, you don't particularly care about those unique additional features or find them a little bit intimidating, then simply use Spreadex as a regular sports betting platform. If you like them, great, you've discovered a platform that's more than just a bookmaker or exchange!
In this review, I'll take you through Spreadex’s latest bonuses, how you can sign up for an account, the banking methods available, and where you can claim free bets to enjoy the site further.
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Latest Spreadex offers and bonuses for sports
Given Spreadex struck me as the Financial Times of betting websites, I didn't really expect much in the way of promotions. However, I was pleasantly surprised to see several good offers available to new and existing players when I registered.
I found the bonus terms and conditions simple and easy to understand with no hidden loopholes or catches. However, it always pays to read the fine print in full before you activate a deal. For all offers, you'll need to be older than 18, and will need to prove your ID at registration. You'll also need to be a UK resident.
I received my full welcome bonus after signing up and placing a qualifying bet. The free bets were deposited to my account promptly without any fuss or needing to ask for assistance.
Welcome bonus
Spreadex's £40 welcome bonus is very sizeable compared to a lot of bookmakers I've registered for in recent months, and it's still available right now. However, I would like to see the bonus simplified somewhat.
After joining, I placed a tenner on a fixed odds bet on football at odds of around 1/2, which is the minimum price to qualify for their welcome bonus. Once that settled - with a win I might add - Spreadex credited my account with a series of bonuses.
I received a £10 free fixed odds bet, a £5 free Total Goals football spread bet, a £5 racing Winning Favourites spread bet and a £1 racing Race Index spread bet. About 24 hours later I got the second £10 free fixed odds bet, £5 free Total Goals football spread bet, and £5 racing Winning Favourites spread bet.
Again, qualifying markets will apply, as do full terms and conditions which are available to read on Spreadex’s website.
Accumulator bonuses
Now this peaked my interest. Quite a lot actually. Spreadex have recently introduced a football acca boost that can enhance your winnings by up to 75 per cent!
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I placed a three-fold football accumulator at odds of around 4/1 and Spreadex boosted my winnings by an extra 5 per cent. It turns out that Spreadex boost your accumulator winnings by 5 per cent for every leg added to your acca.
For example, three winning selections will see Spreadex boost your returns by 5 per cent, four selections by 10 per cent, and that will continue all the way up to 16 selections - where Spreadex boost your winnings by a massive 75%!
Offers by sports
I found another of their offers pretty intriguing, although I haven't managed to use it yet. Aptly named "2ND TO A RAG" insurance, Spreadex will give you your stake back up to £25 if your horse finishes second to a winner with an SP of 33/1 or greater.
How to sign up at Spreadex - step-by-step
Signing up was a fairly straightforward process, although I found it did take slightly longer than most bookmakers because of the extremely thorough checks. Here's a step-by-step guide on how you can sign up for an account at Spreadex in both desktop and app mode.
Signing up through the desktop site
- Head to the main Spreadex site and click ‘join’.
- Fill out a membership application form. Make sure your details are accurate, as Spreadex will check information for fraud purposes.
- You may need to provide further information and proof of ID for your registration to approve. For example, you may need to provide photo ID and details of your employment. Spreadex assures that it won’t contact your employer.
- Once your registration is filed, wait for the Spreadex team to contact you. You may be accepted straight away or in a few days, depending on the information needed.
- Once registered, you can log into the Spreadex site and start betting.
Signing up through the app
- Search for ‘Spreadex’ in the App Store and download the official sports app.
- Tap ‘join’ in the top right corner of the app’s main screen.
- You'll then need to fill out a membership form. Provide accurate details and proof of ID if asked.
- Wait for Spreadex to approve your application, and log in once you’ve received an email acknowledgement.
How to place a bet on Spreadex
As I've mentioned above, you can either place a spread bet or a fixed odds bet on sports with Spreadex. Fixed odds betting works much as you’d expect from other bookmakers.
When placing my first bet I headed to Spreadex’s sportsbook, opted for a football market - Chelsea vs Everton if memory serves - and then clicked FIXED ODDS.
By clicking FIXED ODDS, the odds and markets I was presented with were familiar, and just like those you would expect to see with any other bookmaker.
The SPREAD BETTING option is a little more complex. At least for me anyway.
By betting on the spread, you decide how right or wrong the bookmaker is. You can bet on how much higher, for example, you think the outcome range for a market will be. To do this, you ‘buy’ the spread. It works similarly to investing in stocks and shares.
To place spread bets at Spreadex, head to the main sportsbook. Choose a sport and market that appeals to you, and click or tap through until you see a list of odds. Make sure the tab is set to SPREAD BETTING rather than fixed odds.
How to get the most out of live streaming with Spreadex
Spreadex is one of several bookies that offer live streaming action on several sports and tournaments, covering football, horse racing, golf and more. I found the best way to make the most of live streaming at Spreadex is to place in-play bets.
Spreadex claim to offer a wider range of in-play markets than most betting sites UK. This means you can choose from a variety of sports and markets to bet on while matches and races are unfolding.
In-play betting with live streams allows you to place bets on markets and odds that evolve during play. For example, if you think Arsenal or Spurs will break a 0-0 deadlock in the last 10 minutes of a Premier League match, you’d select that market.
It’s an interesting new dimension of betting for many punters who are used to fixed futures ahead of time.
How to claim your Spreadex bonus
Claiming bonuses is easy. In my case, I simply triggered the offer by making a qualifying bet and the bonus was credited to my account. However, this could vary from deal to deal, so always check the terms and conditions before you get started.
The same applies to existing customers getting into deals. Always check the terms expected of you before you start, as you may need to activate a bonus code. However, Spreadex largely runs on a ‘deposit to activate basis’.
Spreadex payment methods
Spreadex accepts payments via the following methods:
- UK debit cards (MasterCard, Maestro, Switch, Visa)
- Bank transfers
- Cheques
- Direct Debit mandates
At present, Spreadex doesn’t accept payments from e-wallets or via crypto. Full details are available via the main website.
Spreadex withdrawal options
Spreadex currently supports withdrawals through the following channels:
- Bank transfers
- Direct Debit transfers
- UK debit cards (MasterCard, Switch, Maestro, Visa)
- Cheques
I use bank transfer, but was a bit miffed to find that a minimum of £50 per withdrawal applies.
Spreadex minimum deposit
Spreadex stands apart from most sportsbooks in that there’s no minimum deposit requirement. Simply pay in enough to cover the bets you wish to make.
How to use the Spreadex cash out feature
We all know the drill with this by now, and it's no different with Spreadex which supports partial and full cash out. To activate either option, simply make sure to tick the ‘one-click cash out’ box when viewing the bets in your account.
You can then close your bets early if you wish, simply by activating the feature when you view your active bets. You can cash out a partial amount on singles and multiples, providing they are fixed odds bets – simply use the slider function to choose what you’d like to withdraw.
You can also use ‘auto’ cash out to withdraw cash from a bet if you make a certain amount of profit. You can set these limits by clicking or tapping the ‘settings cog’ next to any bets you’re editing.
Free bets at Spreadex
The main free bets offer available at Spreadex right now ties into its recommend-a-friend deal. Simply refer a friend to the site and ask them to quote your name and postcode when they sign up and you can claim a free £100 total goals spread bet.
You’ll get to claim this bet after your friend places five bets that qualify (of at least £2 each). Full terms and conditions apply.
More reviews of online UK bookmakers
- Parimatch review
- BetVictor review
- Unibet review
- Tote review
- kwiff review
- bet365 review
- William Hill review
- Betway review
- BetUK review
Remember to gamble responsibly
A responsible gambler is someone who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn’t gamble if they’re upset, angry, or depressed
- Gamcare – www.gamcare.org.uk
- Gamble Aware – www.gambleaware.org
Find our detailed guide on responsible gambling practices here.
For help with a gambling problem, call the National Gambling Helpline on 0808 8020 133 or go to www.gamstop.co.uk
