Spreadex compelled to divest Sporting Index
The Competition and Markets Authority (CMA) has ordered Spreadex to sell its acquisition of Sporting Index, citing concerns over competition in the betting and gaming industry.
London, 22 November 2024 – Following an inquiry launched in July 2023, the CMA has concluded that Spreadex’s acquisition of Sporting Index would significantly lessen competition in the online fixed-odds betting market. The merger would have created a business with a combined market share of over 25% and would have resulted in higher prices and reduced innovation for customers.
Sarah Cardell, General Counsel of the CMA, said: “Our investigation found that this merger would have led to a substantial reduction in competition in the online fixed-odds betting market. This would have been bad news for customers, who could have ended up paying higher prices and getting less choice and innovation.”
Spreadex has been ordered to sell Sporting Index within a specific timeframe. The CMA will monitor the sale process to ensure that a suitable buyer is found and that competition in the market is maintained.
The CMA’s decision is a significant development for the betting and gaming industry. It demonstrates the CMA’s commitment to ensuring that competition is not stifled and that consumers continue to benefit from a range of competitive and innovative products and services.
Background
Spreadex acquired Sporting Index in March 2023. Sporting Index is a provider of spread betting and fixed-odds betting services. The CMA launched an investigation into the merger in July 2023, and its findings were published in November 2024.
Notes to editors
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The Competition and Markets Authority (CMA) is the UK’s competition and consumer authority. It is an independent non-ministerial government department responsible for promoting competition and protecting consumers.
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The merger was referred to the CMA for investigation under the Enterprise Act 2002.
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The CMA has a statutory duty to prevent or remedy adverse effects on competition resulting from mergers and acquisitions.
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The CMA’s decision is final and binding.
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For further information, please contact the CMA press office on press@cma.gov.uk or call 0203 738 6460.
Spreadex required to sell Sporting Index
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