Change in gambling habits blamed on upturn in economy
UK spread betting market drops 8 percent
2013-12-05
Reading time 36 seg
(UK).- The number of people using spread betting in the UK has fallen 8 percent, in part owing to “renewed confidence” in the economy, according to a study by Investment Trends. The research showed a total of 92,000 active spread betting clients in the UK last year, with that figure having shrunk to 85,000 by the end of September 2013.
“The FTSE is going up steadily so [people] are making money just investing in shares. So fewer people feel the need to be more active and use spread betting,” Uwe Helmes, a senior analyst at Investment Trends, told The Financial Times newspaper.
“If the FTSE is flat then people think there’s no point just holding shares, [and that they] need to be a bit more active to try to make money. The fact that the FTSE has been increasing steadily over the last year means that fewer people actually venture from the stock market.”
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