The Competition and Markets Authority (CMA) has published its final report on the merger between Spreadex and Sporting Index, concluding that the deal has created a monopoly in the UK licensed online sports spread betting market. This merger effectively eliminates competition, which could lead to a worse user experience, fewer product options, and higher prices for consumers.

The CMA's original Phase 2 decision, released in November 2024, indicated that the merger would substantially lessen competition. Following an appeal by Spreadex to the Competition Appeal Tribunal (CAT), the CAT referred the decision back to the CMA for further consideration in March 2025.

After reviewing additional evidence, the independent panel found that the merger removed Spreadex's only competitor in the sports spread betting market. The panel emphasized that the only effective remedy would be for Spreadex to sell Sporting Index, thereby restoring competition and providing consumers with greater choice.

The CMA is now considering its next steps, which could involve accepting undertakings from Spreadex to sell Sporting Index or imposing an order for the sale of the business to a CMA-approved buyer.