Spreadfair is now defunct, unfortunately - 'Cantor Index Limited has taken the decision to close Spreadfair, its online betting exchange, to focus on its financial spread betting and CFD business.'
In June 2004, Cantor opened up Cantor Spreadfair, which is an exchange alternative to spread betting along the lines of Betfair being an alternative to traditional firms. Prices will almost always be better at Cantor Spreadfair than they are at Cantor Sport themselves due to the very nature of the product.
Cantor Spreadfair operates like a betting exchange, where the prices are determined by the clients placing orders and matching bets, not by the spread firm. Cantor Spreadfair's clients can choose their own prices and stakes, with bets matched between people with opposing views
The prices can move up and down. However, a normal betting exchange offers markets like those of a fixed odds bookmaker, for example match result. Spreadfair offers the same markets as a spread firm. The spreads are narrower than those of the spread firms, but a small commission is charged on winning bets. You can either bet at the price you see on the exchange, or place an order for a better price in the hope that someone will take it. If you have an existing bet, you could place further orders to act as the equivalent of stop losses or stop profits (limit orders). The size of the bet is only restricted by the size of the market, and the NTR (Notional Trading Requirement) for that bet.
'The problem with traditional spread betting is that to close a bet entails paying the spread,' Chris Shillington, head of sports PR at Cantor Sport, says. 'Someone buying the total goals in a football match at 3.0, for example, would pay a spread of about 0.3, whereas on Spreadfair the equivalent figure would be a negligible 0.02.'
In normal markets, Spreadfair clients pay commission based upon their net winnings at a rate of 5%, although this could be reduced depending on the level of trading activity. As with traditional spread betting, it is possible to close a position at any time
You can open a Debit or Credit Account, or use an existing Cantor Index or Cantor Sport account. Although it is authorised and regulated by the FSA, opening an account is actually easier than opening a standard spread betting account, in that it is not necessary to send in any paper ID.
If you are in any doubt about how a betting exchange works, there is a good set of help instructions which guides you through with examples. Happy Spreading!
Price: With Cantor Spreadfair, if you wish to bet at a better price, you can leave an order which is entered into the exchange for other bettors to accept.
Stake: Cantor Spreadfair does not impose any limits on the amount you can bet - you can bet as much as is available in any market, provided you have sufficient funds in your account.
Address: Cantor Spreadfair, 1 America Square , London EC3N 2LS.
Telephone : Freephone 08000 111 441.
Email : csATspreadfair.com
Sports/markets covered: Football, cricket, politics, rugby union, golf, athletics, American football, rugby league, horse racing, snooker and financial markets.
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