Spreadex Review UK: Bet £10, Get £60 in Free Bets

Spreadex is the most interesting bookie on our list and the best-rated by its own customers: 4.4 out of 5 from 2,275 reviews on Trustpilot (checked October 2026), far ahead of the big high-street names. It mixes a normal fixed-odds bookmaker with sports spread betting, and its welcome offer has the biggest headline of the lot, Bet £10 Get £60.

There’s a big catch to understand first, though. With spread betting you can lose more than your stake. Below we explain spread betting in plain English, how the free bets work, who runs Spreadex and what punters say about it. Enjoy!

Spreadex key facts

How the Spreadex Bet £10 Get £60 offer works

Join Spreadex and place a £10 fixed-odds single, or a £10 each-way bet, at odds of 1/2 or bigger. It can be before the off or in-play, but you can’t cash it out. Only the win part of an each-way bet counts, so a £5 each-way bet (£10 in total) won’t qualify.

Once it settles, the free bets come in three batches, 24 hours apart. Each batch is a £10 free fixed-odds bet, a £5 Total Goals football spread bet and a £5 Winning Favourites racing spread bet. You also get a single £1 Race Index spread bet with the first batch. Everything expires 28 days after it’s awarded, which is far longer than the 7 days most bookies give you.

The £10 fixed-odds free bets work like any other free bet. Tick ‘Use free bet’ on your bet slip, the stake isn’t returned, and you can’t cash them out. Put one on a 3/1 shot in the Saturday racing and a winner pays £30.

The spread bets are different. You can only claim them if you hold a full spread betting account, and Spreadex itself warns that even with free spread bets it’s possible to lose more than your stake. If you don’t want that risk, just use the three £10 fixed-odds free bets and leave the spread bets alone.

Spreadex promo code: do you need one?

No. Spreadex says a promo code is optional for this offer. Join, place a £10 fixed-odds or each-way bet at 1/2 or bigger, and the free bets start arriving once it settles.

How to claim the Spreadex free bets

Who owns Spreadex?

Spreadex Limited is a private company based in St Albans, founded on 25 February 1999 by Jonathan Hufford. It started in spread betting and added fixed-odds sports betting in 2010, so today you get both in one account.

Its fixed-odds betting is licensed by the Gambling Commission under account 8835. Its financial trading and spread betting fall under the Financial Conduct Authority.

On the record: in May 2025 the Gambling Commission fined Spreadex £2,022,000, issued a warning and added a licence condition over anti-money laundering and customer interaction failings between September 2022 and November 2023, plus a breach of a specific licence condition. It’s the biggest fine among the bookies in our top three, so weigh it against the excellent customer reviews.

What can you bet on at Spreadex, and how does spread betting work?

In normal betting, you stake £10 and the most you can lose is £10. Spread betting works differently. Spreadex predicts a number, such as total goals in a match, and shows it as a range called the spread. You bet a stake per point (per goal, per length, per index point) on whether the real result will be higher or lower.

If you think it’ll be higher, you ‘buy’ at the top of the spread. If you think it’ll be lower, you ‘sell’ at the bottom. The further the result goes your way, the more you win. The further it goes against you, the more you lose, and that can be more than your stake.

Here’s a worked example. Say the Total Goals spread for a Premier League match is 2.6 to 2.8. You buy at 2.8 for £5 a goal. If the game finishes 3-1 (four goals), you win (4 − 2.8) × £5 = £6. If it finishes 0-0, you lose 2.8 × £5 = £14, which is nearly three times your £5 stake. That’s the key thing to understand before you try it.

Spread betting is regulated by the Financial Conduct Authority (FCA), while Spreadex’s fixed-odds bookmaker is licensed by the Gambling Commission. If you just want a normal bookie with good free bets, you never have to touch the spreads.

Spread betting is risky, so only bet a stake per point you’d be happy to multiply by the worst realistic result, and use the deposit and loss limits in your account. Here’s what else Spreadex offers, and what’s missing.

What do punters say about Spreadex?

Spreadex has the best Trustpilot score of any bookie we review: 4.4 out of 5 from 2,275 reviews (checked October 2026). 66% give five stars and 12% give one. Spreadex replies to most reviews, including about three in four negative ones.

• Quick withdrawals. The most common praise is fast payouts, with several recent reviewers calling withdrawals rapid.
• Competitive odds and offers. Reviewers mention good prices and regular free bets, including a World Cup promotion.
• Friendly service. Several say support is quick and easy to deal with.
• Good for spread betting beginners. One reviewer said it suits people new to spread betting.
• Racing prices and a busy layout. One unhappy punter found a racing price far shorter than on an exchange (6/1 against 13/1), and others call the interface cluttered or say finding past bets is fiddly.

Spreadex: the good and the not so good

Spreadex vs Betfred, bet365 and Unibet

Here’s how Spreadex’s offer compares with three of the other bookies at the top of our list.

Spreadex has the biggest headline and the happiest customers, but around half of the £60 comes as spread bets, which aren’t for everyone. Betfred’s £50 is all fixed-odds free bets and it adds Best Odds Guaranteed for racing. bet365 is the easiest to qualify for. See the full list on the best UK betting sites or our horse racing betting sites guide.

Is Spreadex worth joining?

Yes, especially if you’ve been curious about spread betting or you value good service. Spreadex’s customers rate it far higher than the big names, the fixed-odds free bets are generous, and 28 days to use them is a genuine plus.

Just go in with your eyes open. Spread bets can lose more than your stake, so only use them once you understand how they work. And if racing is your main thing, the lack of confirmed Best Odds Guaranteed means Betfred is still the better everyday choice.

Spreadex FAQs