Spreadex Bookmaker Review & Promo Code: Bet £10 Get £60 in Free Bets

Spreadex is a UK-based betting and trading brand that combines an online bookmaker offering fixed-odds and sports spread betting with a financial derivatives trading platform. 

Jonathan Hufford, a former bond dealer aiming to bring spread betting to the masses, founded Spreadex in 1999. His business began as a telephone-based service, then expanded into online sports betting in 2006 and later introduced its financial trading platform. Fixed-odds betting followed in 2010. 

Spreadex Limited is licensed by the UK Gambling Commission for fixed-odds betting under account 8835 and authorised and regulated by the Financial Conduct Authority for sports spread betting and financial trading. This duality is Spreadex’s main differentiator, but as a bookmaker it still plays in the same league as others, covering over 20 sports and esports, while also offering political betting and virtual sports. 

“Spreadex feels different from most bookmakers because you can bet on the same match in two ways: with regular fixed odds or through spread betting. I like having that choice, and some of the spread markets are more interesting than a standard match-winner bet. The main thing to remember is that spread betting carries more risk, because your losses can grow if the market moves against you.” — Martin Eriksen, Gambler Media

Spreadex Sports Betting and Spread Betting New Customer Offers

Spreadex advertises two separate new-customer offers, which cannot be combined: 

• Bet £10 and get up to £60 in free bets: New fixed-odds customers receive three £10 fixed-odds free bets. Customers who also open a full sports spread-betting account within 28 days can receive six £5 spread bets plus a £1 Race Index spread bet.
• Up to £300 cashback or an iPad: Customers who open a full sports spread-betting account receive cashback matching qualifying opening stakes placed within the first 28 days, capped at £300. Customers who reach £300 can choose an iPad instead. 

The free-bet offer is available to new customers aged 18 or over in Great Britain and the Republic of Ireland, and the qualifying bet must be placed within 28 days of opening the account. No promo code is required for the standard offers.

Here’s how to claim the free-bet offer:

1. Register an account. Click Join and enter the required personal details. To receive the £30 in sports spread-betting free bets as well, open a full spread-betting account within 28 days. 
2. Verify your account. Spreadex may verify your details electronically or request identity documents. Opening a full spread-betting account also requires an appropriateness assessment.
3. Deposit funds. Visit the Cashier area, choose a method, and deposit at least £10. 
4. Place a fixed-odds bet. Place a £10 single or £10 each-way bet at odds of 1/2 or greater (only the win part of an each-way bet counts). You can place the qualifying bet pre-event or in-play, but you can’t cash it out early.
5. Receive the free bets (3-day distribution). You’ll get the free bets in the following sequence:
   1. Immediately after settlement, you’ll receive the first £10 fixed-odds free bet, the first £5 Total Goals spread bet, the first £5 Winning Favourites spread bet, and a £1 Race Index spread bet.
   2. Twenty-four hours later, you’ll receive the second £10 fixed-odds free bet, the second £5 Total Goals spread bet, and the second £5 Winning Favourites spread bet.
   3. A further 24 hours later, you’ll receive the third £10 fixed-odds free bet, the third £5 Total Goals spread bet, and the third £5 Winning Favourites spread bet.
6. Separate cashback/iPad offer. Open a full sports spread-betting account and place qualifying opening stakes within the first 28 days. Spreadex matches those stakes as cashback up to £300. If you reach £300, you may choose an iPad instead by emailing sports@spreadex.com or calling 08000 526 575 or 01727 895 090 within 30 days after the offer period. 

Important: Free bets expire 28 days after issue, and their stakes are not returned with winnings. Select “Use Free Bet” on the bet slip to apply one. 

Market Coverage, Bet Types, Spread Betting, and Odds

Spreadex covers more than 20 sports and esports, but it primarily covers football, horse racing, greyhounds, and cricket. 

Coverage includes major international football competitions and UK leagues. Spreadex also lists UK and Irish flat and jumps meetings alongside selected overseas racing. 

Spreadex’s key differentiator is spread betting. You can toggle between fixed odds and spread betting whenever you open an event. Some underlying events and statistics overlap, but fixed-odds and spread bets are priced and settled differently. 

If you’re mostly interested in fixed odds betting, you’ll want to know that Spreadex has a fairly average betting margin of between 5.5% and 6.7%. This puts it in the same lane as mainstream UK bookies like Paddy Power and Sky Bet, but ahead of traditional bookmakers like William Hill.

Spreadex’s Main Features

Spreadex’s main betting features are:

• Dual market interface: Switch between traditional fixed odds and quantitative spread betting on the event page with a single click. 
• Bet Builder: Build custom wagers by combining different markets from the same game into a single bet slip. 
• Live streaming: Spreadex lets you live stream various sports events directly from the site. 
• Cash out: One-click cash out is available on eligible fixed-odds and sports spread bets, partial cash out is limited to fixed-odds singles and multiples, and auto cash out is available only for sports spread bets. 
• Price Boosts and Acca Boost: Spreadex offers enhanced prices on selected markets, while qualifying football accumulators of three or more selections receive a cash boost on winnings. 
• 2-Up Early Payout: On qualifying pre-match singles and multiples in the 2-Up Match Odds market, Spreadex settles the selection as a winner if the backed team goes two goals ahead, regardless of the final result. 

Payment Methods and Banking Terms

Spreadex accepts debit cards, bank transfer, cheque, Direct Debit, Apple Pay, Google Pay, and Pay by Bank. Customers can make debit-card deposits and set up a Direct Debit by phone through customer support. E-wallets like Skrill and Neteller are not supported. 

Withdrawals are made by Pay by Bank (promoted as the fastest option), Visa and Mastercard, Apple Pay, Google Pay, direct credit bank transfer, and cheque. 

If you’re interested in currencies other than GBP, Spreadex supports EUR, USD, CHF, and CAD. 

Mobile App and Mobile User Experience

Spreadex offers a mobile-friendly site, but it also has dedicated apps for iOS and Android devices. You can download them from their respective stores. At the time of review, the iOS app was rated 4.7/5 and the Android app 4.5/5. 

Overall, you’ll rarely have major issues with either app, so it’s generally better to use it instead of the mobile site version through your phone’s browser. 

Customer Service

Spreadex offers live chat, phone and email support. The main UK sports customer-service number is 01727 895 000, and the email address is info@spreadex.com. 

Support is available from 7:30 a.m. to 10 p.m. Monday to Saturday and from 8.30 a.m. to 10 p.m. on Sunday.

FAQ

Is Spreadex regulated in the UK?

Yes. Spreadex holds active UKGC and FCA permissions, although its regulatory record is not flawless. In May 2025, the UKGC fined the company £2.022 million and imposed an additional licence condition over anti-money-laundering and customer-interaction failings. 

What is spread betting on Spreadex?

Unlike fixed-odds betting, a sports spread bet’s profit or loss varies according to how far the result finishes above or below the quoted spread. Spreadex gives a two-way price range, or the spread, on a specific outcome or stat, and you choose Buy if you think the outcome will go above the spread and Sell if you think it will be below. 

How long do withdrawals take on Spreadex?

Approved card withdrawals normally arrive within two hours, although some card issuers take two to five working days. Bank transfers normally arrive within two working days. 

Can I cash out on Spreadex?

Yes. One-click cash out works across eligible fixed-odds and spread bets, partial cash out is limited to fixed-odds singles and multiples, while auto cash out is limited to sports spread betting.