SpreadEx review: Bet £10 Get £60 in free bets and racing spread bets

SpreadEx overview and rating: fixed odds meets spread betting

SpreadEx is two bookmakers in one account. On one side sits a conventional fixed-odds sportsbook. On the other is something few UK bookmakers offer at all: sports spread betting, where you bet on whether a number — the total distance of a day’s winners, the points a jockey scores across a meeting — will finish above or below SpreadEx’s forecast.

It also has the biggest welcome offer on our list, at £60. That figure needs reading carefully, as you will see, and so does the risk that comes with spread betting.

Our SpreadEx rating: 4.2/5

Welcome offer	Bet £10 Get £60
Promo Code	Optional
Minimum deposit	£5
Spread betting	Yes — losses can exceed your deposit
Founded	1999, St Albans
Regulation	UK Gambling Commission (fixed odds), FCA (financial spread betting)

The SpreadEx welcome offer

Bet £10 Get £60

SpreadEx £60 free bets bonus offer terms: Spread betting losses can exceed deposit. Place a £10 fixed odds single or £10 each-way bet at minimum odds of 1/2 and get 3 x £10 free fixed odds bets, 3 x £5 Total Goals football spread bets and 3 x £5 Winning Favourites spread bets and a £1 racing Race Index spread bet. Promo code is optional. Full terms apply. 18+. GambleAware.org

What the £60 is made of

Place a £10 fixed-odds single, or £10 each-way, at odds of 1/2 or bigger. SpreadEx then gives you:

• 3 × £10 free fixed-odds bets — £30
• 3 × £5 Total Goals football spread bets — £15
• 3 × £5 Winning Favourites spread bets — £15
• a £1 racing Race Index spread bet

Only half of the £60 is conventional free bets. The rest is spread bets, which work very differently. The qualifying odds of 1/2 are the easiest on our list, and the £30 of fixed-odds free bets alone matches bet365’s entire offer.

Key terms to check

The qualifying bet can be a horse, and it can be each-way — useful if you want to start on a big-field handicap. The Promo Code is optional, so you won’t miss out by skipping it. For a racing punter, the three £10 fixed-odds free bets are the part to plan around: they work like any other free bet, with the stake not returned. Treat the spread bets as a free lesson in how the markets move, not as cash.

SpreadEx promo code October 2026

SpreadEx doesn't need a promo code. The welcome offer — Bet £10 Get £60 — is applied when you open an account through the link below and meet the qualifying terms; SpreadEx accepts a promo code but it is optional.

SpreadEx sign up and welcome offer: claim £60 in free bets

New SpreadEx customers can claim £60 in free bets with the Bet £10 Get £60 sign up offer. To qualify: £10 fixed-odds single or £10 each-way at odds of 1/2 or bigger. When it lands: After the qualifying bet. Expiry: See full terms. Every detail of the bonus is set out in the table, with the full terms.

SpreadEx promo code and welcome offer details

SpreadEx promo code	Optional — not needed to claim
Welcome offer	Bet £10 Get £60
Minimum bet	£10 fixed-odds single or £10 each-way at odds of 1/2 or bigger
Free bets credited	After the qualifying bet
Expiry	See full terms
Terms	SpreadEx £60 free bets bonus offer terms: Spread betting losses can exceed deposit. Place a £10 fixed odds single or £10 each-way bet at minimum odds of 1/2 and get 3 x £10 free fixed odds bets, 3 x £5 Total Goals football spread bets and 3 x £5 Winning Favourites spread bets and a £1 racing Race Index spread bet. Promo code is optional. Full terms apply. 18+. GambleAware.org
Official site	www.spreadex.com
Verified	✓ Bonus and free bet verified by Bets & Horses on 18 October 2026

How to use the SpreadEx welcome offer

1. Go to the official SpreadEx site using the official site link above.
2. Open a new account. You must be 18 or over and live in the UK.
3. Deposit with an eligible payment method — debit cards are accepted for every welcome offer.
4. Place your qualifying bet: £10 fixed-odds single or £10 each-way at odds of 1/2 or bigger.
5. Collect your free bets — after the qualifying bet — and use them before they expire (see full terms).

Claim Bet £10 Get £60 at SpreadEx

18+. New customers only. T&Cs apply. Gamble responsibly — GambleAware.org · National Gambling Helpline 0808 8020 133.

How SpreadEx spread betting works on racing

In spread betting you don’t back a horse at odds. SpreadEx quotes a range — say 18–20 for the total winning distances at a meeting — and you buy if you think the result will be higher, or sell if you think it will be lower. Your profit or loss is your stake per point multiplied by how far the result lands from your price.

A worked example: SpreadEx quotes 18–20 for the winning distances at a meeting. You buy at 20 for £1 a point. If the total comes to 26 lengths, you win £6. If it comes to 14, you lose £6. The further the result moves, the more you win or lose.

Race Index

50 points for the winner, 25 for second and 10 for third in races of 11 runners or fewer; 50, 30, 20 and 10 in bigger fields. Buy a horse you fancy, sell one you don’t.

Favourites

The favourite scores 25 points for winning, 10 for second and 5 for third, added up across the meeting.

Winning distances

The total margin of victory across a meeting, capped at 12 lengths per race.

Jockey Index

25, 10 and 5 points for each first, second and third a jockey rides.

The risk: losses can exceed your deposit

Because you win or lose for every point, your loss isn’t limited to your stake. Sell the favourites at a meeting where they all win and you can lose far more than you put in. Losses can exceed your deposit. Start with small stakes, and use the free spread bets in the welcome offer to learn how the markets move.

SpreadEx for fixed-odds horse racing

On the fixed-odds side, SpreadEx works like any other bookmaker: back a horse to win or each-way, and you can’t lose more than your stake. Selected races stream live in the app. Each-way terms are standard: a quarter or a fifth of the odds, depending on field size and race type.

SpreadEx doesn’t advertise Best Odds Guaranteed. It offers First Past the Post instead, which protects you in a different way.

SpreadEx odds: how they compare

We compare every partner bookmaker’s price on every UK runner, every day. Here’s how SpreadEx prices today’s remaining UK favourites against the best price from 12 bookmakers:

SpreadEx odds on today's favourites, against the best price from 12 bookmakers.

Race	Favourite	SpreadEx	Best price
3:50 Sedgefield	Zamond	11/4	16/5 (SmarketsSBK)
4:20 Sedgefield	Gambino	5/2	3/1 (Bet365)
4:50 Sedgefield	Going On	13/8	13/8 (10 Bet)

SpreadEx racing promotions for existing customers

First Past the Post

Paid out if your horse passes the post first, even if it is later demoted in a stewards’ inquiry.

2nd to a Rag

Your stake back as a free bet, up to £25, if your horse finishes second to a 33/1 or bigger winner.

Lucky Double Odds

A SpreadEx bonus on Lucky 15, 31 and 63 bets.

The SpreadEx app

One app and one wallet cover both fixed odds and spreads. It scores 4.7/5 from around 1,400 reviews on Apple’s UK App Store and 4.6 on Google Play. Cash out comes in one-click, automatic and partial forms, and spread bets can be closed at any time.

SpreadEx payments

Debit cards, Apple Pay, Google Pay, Pay by Bank, bank transfer and Direct Debit. There is no PayPal or other e-wallet. The minimum deposit and withdrawal are both £5.

Can you trust SpreadEx?

Former City dealer Jonathan Hufford founded SpreadEx in 1999. It is based in St Albans. Fixed-odds betting is licensed by the UK Gambling Commission, and financial spread betting is regulated by the Financial Conduct Authority. SpreadEx is also a familiar name in English football, with partnerships including Derby County, Watford and Norwich City.

Its regulatory record needs mentioning. In May 2025 the Gambling Commission fined SpreadEx £2.02 million for anti-money laundering and social responsibility failings — its second enforcement action, after a £1.36 million settlement in 2022.

Safer gambling at SpreadEx

Deposit limits, time-outs from one day to six weeks, and self-exclusion from six months to five years. Given that spread betting losses can exceed your deposit, setting a deposit limit before you start is essential.

SpreadEx review: our verdict

For a fixed-odds punter, SpreadEx is a strong welcome offer attached to average prices. For anyone curious about spread betting, it is the best place in Britain to learn — as long as you start small and respect the risk. Rating: 4.2/5.

SpreadEx pros and cons

For
– £60 welcome offer, the biggest on our list
– Easiest qualifying odds: 1/2
– Racing spread markets you can’t get elsewhere
– First Past the Post and 2nd to a Rag

Against
– Half the offer is spread bets
– Spread betting losses can exceed your deposit
– Top price on only 17.7% of runners when we measured
– No PayPal or e-wallets
– Gambling Commission fines in 2022 and 2025

SpreadEx FAQs: spread betting, free bets and safety

What is the SpreadEx welcome offer?

Bet £10 at odds of 1/2 or bigger and get £60: £30 in fixed-odds free bets, £30 in football and racing spread bets, and a £1 Race Index spread bet. Spread betting losses can exceed your deposit; the full terms are printed above.

Do I need a SpreadEx Promo Code?

No. The Promo Code is optional and the offer is available without it.

Is SpreadEx safe?

Yes. It is licensed by the UK Gambling Commission for fixed-odds betting and regulated by the FCA for financial spread betting.

Can SpreadEx be trusted?

It has been operating since 1999 and is regulated by both the Gambling Commission and the FCA. It was fined £2.02 million by the Gambling Commission in 2025, after a £1.36 million settlement in 2022.

Can you lose more than you bet on SpreadEx?

On spread bets, yes. Losses can exceed your deposit. Fixed-odds bets work like any other bookmaker: you can’t lose more than your stake.

Does SpreadEx offer Best Odds Guaranteed?

SpreadEx doesn’t advertise Best Odds Guaranteed. It offers First Past the Post and 2nd to a Rag on racing instead.

What is the SpreadEx Race Index?

A spread market where each horse scores points by finishing position — 50 for the winner, then 25 and 10, or 30, 20 and 10 in bigger fields. You buy or sell against SpreadEx’s quote.

Does SpreadEx accept PayPal?

No. It takes debit cards, Apple Pay, Google Pay, Pay by Bank, bank transfer and Direct Debit.

18+. Gambling can be addictive — please play responsibly. Spread betting losses can exceed your deposit. National Gambling Helpline 0808 8020 133 · GambleAware.org · GAMSTOP.co.uk