BUSINESS

Spreadex hoping to build on momentum with casino product launch

TAGs: financial spread betting, mobile phone betting, spreadex

SpreadexAfter experiencing a bump in spread betting activity thanks in large part to their iPhone mobile product, UK spread betting firm Spreadex has announced that it will be expanding its offering with the launch of a new casino product later this month.

Spreadex recently recorded a record high in sports betting volume during the month of August.

The worldwide stock market crash, client acquisition of competitor Extrabet and the launch of the company’s new financial spread betting iPhone app, all contributed to a 29 per cent increase in bet levels compared to the company’s previous record setting month.

The timing seems right for the company to launch its casino product, especially with the iron already hot.

Spreadex marketing communications manager Andy MacKenzie said in a news release, “The holiday season of August is traditionally a quiet period for the financial markets, however, the incredible volatility experienced by global indices, equities and commodities sparked furious short-term trading activity and also meant other investors were forced to address longer-term positions… This combined with the launch of our financial spread betting iPhone app led to a record number of financial spread bets being handled by Spreadex traders.”

Mackenzie added, “Massive interest in England’s 4-0 Test whitewash over India also helped sports betting levels hit new heights in August, but we expect this to improve further during September with the start of the Champions League, Rugby World Cup and NFL season.”

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