The UK’s Competition and Markets Authority (CMA) is set to reject the merger between SpreadEx and Sporting Index that was announced in November 2023, as it claims the move would create a monopoly in the online sports spread betting market.
This is in line with the CMA’s original decision in November 2024, which SpreadEx appealed to the Competition Appeal Tribunal (CAT). The matter was referred back to the CMA for a second look in March 2025, with the group announcing its final decision on Friday.
the merger would kill all competition in online sports spread betting if it were to proceed
The press release notes that an independent CMA panel got access to additional evidence, and believes that the merger would kill all competition in online sports spread betting if it were to proceed. The possible knock-on impact would be a poorer user experience, a smaller selection of products, and potentially higher prices.
The independent panel’s chairperson Richard Feasey said that the only way for the deal to proceed would be if SpreadEx sold Sporting Index, as this would “restore competition in the supply of this market.”
The next steps are for the CMA to accept the findings from the panel and order the sale of the business to a buyer that is CMA-approved or else “accept undertakings that may be offered by SpreadEx to sell Sporting Index.”
