Sporting Index

Sporting Index Ltd
Type	Private Limited Company
Industry	Financial Services
Founded	1992
Headquarters	London, UK
Key people	; Simon Trim (CEO); Andrew Woolley (Chief Financial Officer); Martin Pates (Finance Director); Peter Wallis (CTO)
Number of employees	300

Sporting Index is a British-based company specialising in sports spread betting. It claims an estimated UK market share of over 70%.[1] The company offers spread bets on a wide variety of sports, politics and showbiz events, as well as a portfolio of unique virtual games and an online casino. Business-to-business trading and risk management services are also offered to international betting and gaming operators under the Sporting Solutions brand.

History

Sporting Index was founded in April 1992 with 5 members of staff and a handful of clients.

In July 2001 Sporting Index launched the first fully interactive internet-based sports spread betting website.[2] Since 2004 Sporting Index has also hosted casino and sports related virtual games based on the concept of spread betting.

In 2002 UK private equity firm Duke Street Capital backed a management buyout of Sporting Index, led by then CEO Richard Glynn, for £52.7 million.[3] A secondary buyout saw HgCapital acquire the company from Duke Street Capital for a total cash consideration of £75.8 million in October 2005.[4]

Sold in 2015 for an undisclosed sum to Swedish businessman Magnus Hedman.

In March 2016, Simon Trim was appointed as the new Sporting Index CEO following the departure of Warren Murphy.

Operations

With offices based in London and Wigan, the company offers spread bets on a wide variety of sports, political and showbiz events, as well as virtual games and an online casino.

Clients transact 24/7 via its mobile phone applications, website and a voice telephony service.

Sporting Index is the B2C division of the Sporting Group, in sports betting technology and trading. The Group employs almost 300 staff and has two principal divisions.

The Sporting Group's B2B division, Sporting Solutions, supplies sports betting software and data services to bookmakers including Sky Betting and Gaming, Danske Spil, TABCorp and Singapore Pools.

Regulation

Sporting Index is authorised and regulated by the UK's Financial Conduct Authority (FCA) and the UK Gambling Commission.[5]

References

Kollewe, Julia (19 October 2005). "Sporting Index bought by Hg Capital for £76m". The Independent. Archived from the original on 28 November 2009. Retrieved 14 September 2017.
"Cool deal for Sporting Index". The Gambling Press Online.
Goodman, Matthew (8 December 2002). "Sporting Index in £55m sale". The Sunday Times. Archived from the original on 11 June 2011. Retrieved 25 June 2010.
"HgCapital puts its money on Sporting Index". Edinburgh Evening News. 19 October 2005.
"Sporting Index". FSA Register. Archived from the original on 13 June 2011. Retrieved 5 July 2010.

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[1] Kollewe, Julia (19 October 2005). "Sporting Index bought by Hg Capital for £76m". The Independent. Archived from the original on 28 November 2009. Retrieved 14 September 2017.

[2] "Cool deal for Sporting Index". The Gambling Press Online.

[3] Goodman, Matthew (8 December 2002). "Sporting Index in £55m sale". The Sunday Times. Archived from the original on 11 June 2011. Retrieved 25 June 2010.

[4] "HgCapital puts its money on Sporting Index". Edinburgh Evening News. 19 October 2005.

[5] "Sporting Index". FSA Register. Archived from the original on 13 June 2011. Retrieved 5 July 2010.