Spread-betting firm Sporting Index is today celebrating its 25th year in business, having traded markets since being founded in April 1992.
Since its historic first bet, a buy of Conservative seats in the 1992 General Election, Sporting Index has given punters 25 years of market spreads and ‘industry firsts’. Which include being the original two-way market, the first to offer cash out features, and unique markets that aren’t found anywhere else – and it continues to set trends that others follow to this day.
In 2001, Sporting Index was the first bookmaker to launch an online, fully interactive sports spread betting service, and in 2003, unveiled ‘Bet on the Move’ – the UK’s first ever mobile betting application.
The operator can further claim to have invented ‘backing and laying’ before being taken up by online betting exchanges.
Sporting Index has also suffered its fair share of big losses over the years. In 1994, Brian Lara’s 375* against England cost Sporting Index dear – each of his boundaries cost the firm £1,500. More recently, Barcelona’s thrilling comeback over PSG last month also saw the traders come out second best, with the final total goal minutes of 424 well above the opening prediction of 202.
One of Sporting Index’s most well-known features has been its innovative and unique markets – some have raised a smile, some an eyebrow, but most have raised the bar. One of the most fondly remembered markets was ‘Jerry Springer’ during England’s 5-1 victory over Germany in 2001, which predicted the number of German headers during the match.
Commenting on reaching the 25-year business operations milestone, Simon Trim, CEO of Sporting Index, said: “Sporting Index has enjoyed an incredibly successful 25 years where we’ve constantly pushed the boundaries of sports betting.
“The industry landscape is vastly different today than in 1992, and we feel we’ve helped to lead the way in much of the major innovations that have taken place.
“A big “Thank You” must go to all of our employees and customers who have been part of the journey, and here’s to the next successful 25 years.”