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Our Sporting Index Review is unbiased and like all our reviews, only gives praise where warranted.
About Sporting Index
The company was hit by a huge financial blow in 1999 when traders at Sporting Index miscalculated the number of wides at the Cricket World Cup. This cost the company an estimated £500,000 due to the public being made aware of the bet via the Racing Post newspaper.
In 2001, the firm took a step into the big time by becoming the first fully interactive spread betting website to launch online. Just three years later, in 2004, the firm added casino games and sports-based virtual games.
Private equity firm Duke Street Capital backed a management buyout of Sporting Index worth £52.7 million back in 2002. The betting firm was run by former CEO Richard Glynn at the time. Glynn would later go on to endure a turbulent time as the CEO of rival bookmaker Ladbrokes.
A second buyout was completed in 2005 when Hg Capital purchased the firm from Duke Street Capital for a total value of £75.8 million. This signalled a period of stability for the firm over the following decade.
In 2014, the firm was honoured with the award for Spread Betting Product of the Year at the eGR Operator Awards. It was the second time in three years that the company has been handed the award.
However, in 2015, Sporting Index was once again sold on for an undisclosed sum of money to Touchbet. Just a year later, Sporting Index confirmed that Warren Murphy was to be replaced as company CEO by Simon Trim.
Sporting Index is authorised and regulated in the United Kingdom by the Financial Conduct Authority and the Gambling Commission.