Spread betting in the United Kingdom is expanding heartily. IG Group said that British spread betting had increased tenfold within the last 12 years, facilitated by the internet. Research by the Australian market research company, Investment Trends, found that almost 100,000 Britons made spread bets on a regular basis last year, compared to 91,000 in 2010. Spread betting is encouraged by British governments declining to tax income thus generated, while spread betting is heavily-taxed or downright illegal in most other countries.
Spreadex has offered spread betting on finance, sport and other areas since 1999 and is one of the largest spread betting companies in the country. It profiled the traffic of its website within a period of six months when its website was visited slightly less than a million times from 874 locations within the British Isles.
Unsurprisingly, Central London was the leader, accounting for 420,000 visits, which was 44 percent of the total. This compared to 3 percent from the next most popular location, Manchester. Andy Mackenzie, Spreadex’s marketing communications manager, said that spread betting took root in the City of London so it was unsurprising that this was the area with the highest number of spread bettors. He added the amount of new accounts being opened elsewhere in the country was rising, and it was evident that the practice was no longer limited only to people working in finance in the southeast. More and more people, he said, now realised that it was possible to trade from the comfort of one’s home and generate income from movements of markets with no need for stockbrokers. He also said that an increasing number of people were migrating from the more traditional fixed odds betting in sports to the fast-paced realm of spread betting.
Five of London’s suburbs appeared in the list of the top 25 spread betting locations. After Central London, the top 10 consisted of (in order) Manchester, Birmingham, Glasgow, Kensington, Lambeth, Leeds, Edinburgh, Sheffield and Bristol.
The spread bettors of Milton Keynes are the most dedicated. They spent the longest time online per sitting – 17 minutes per visit. Southampton provided the highest percentage of new visitors. “Bounce rate” is a piece of internet marketing jargon used to describe the percentage of visitors who enter a website and then leave instead of continuing to view pages. The bounce rate for Spreadex was highest in Cardiff.