The UK’s Competition and Markets Authority (CMA) has mandated that Spreadex sell Sporting Index to address antitrust concerns stemming from their merger, which was found to threaten competition in the sports spread betting market.
The CMA launched a detailed Phase 2 investigation following Spreadex’s 2023 acquisition of Sporting Index’s business-to-consumer division from Sporting Group Holding Limited. The inquiry revealed that the merger would effectively create a monopoly in the UK’s sports spread betting sector, previously served by only two licensed providers: Spreadex and Sporting Index.
Sports spread betting differs from fixed-odds betting by allowing customers to bet on variable outcomes, with winnings or losses determined by prediction accuracy. The CMA’s investigation concluded that without competition, consumers could face reduced choices, limited product innovation, and higher costs.
“This deal eliminates competition in the supply of licensed online sports spread betting services in the UK,” said Richard Feasey, chair of the CMA panel. “Sports spread betting—like any market—needs competition to ensure good customer experience, choice, and competitive prices. By requiring Spreadex to sell Sporting Index, we aim to restore these dynamics and protect consumers.”
Spreadex has 12 weeks to divest Sporting Index to a CMA-approved buyer. The CMA will closely monitor the remedy’s implementation to ensure compliance.
The investigation faced delays, with the statutory timetable extended by eight weeks due to the remedy’s complexity and Spreadex’s late document submissions. Nevertheless, the CMA remains committed to preserving competition in the licensed online sports spread betting market, ensuring consumers continue to benefit from competitive options.