paddy power spread betting
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Paddy Power’s new financial spread betting venture, paddy power trader has seen an increase in players and winners over the past number of days. Recent international market turmoil culminated in an emergency Federal Reserve rate cut in the US yesterday.
“The main attraction of spread betting is that you can potentially make money no matter which direction prices move, unlike regular share trading where you can only make money if the price rises. Therefore many spread bettors have been taking advantage of the volatile markets to realise potential gains. There may have been €240bn wiped from European stocks on Monday but it’s not all bad news for savvy spread bettors,” said Davin McAnaney of paddy power trader.
“We have seen the number of trades more than double compared to usual. Even though volatile markets such as these are difficult to predict we have seen a glut of clients taking profits from the rapidly changing markets. The spread betting fraternity in the UK and Ireland has really warmed to the idea of going short, or betting against the markets, he said.”
The sharp falls in the markets earlier this week followed swiftly by strong rallies and this interest rate cut of 0.75% by the US Federal Reserve has swelled the number of clients trading on paddy power trader, there have been increases in Paddy Power Trader account applications too.
“The movement of indices by 100 to 200 points in a matter of minutes is definitely hitting the headlines and leading many spread bettors to take a position in the hope of winning big. As the markets continue to swing wildly on rumours of a US and global recession we are likely to see still more people spread betting. This is despite the fact that it is a difficult time to trade with these huge fluctuations.” concluded McAnaney.
Paddy Power Trader is currently running an advertising campaign that reflects financial spread betting jargon where ‘going short’ means to bet in favour of falling markets. Financial spread betting allows you to bet on the performance of a share or index so it is possible to make a sell or short bet on the underlying instrument as well as to make a buy or long bet. Going short therefore permits traders to make money even in volatile or falling markets. Being short in financial spread betting can be a winning strategy.
Important Note:
Spread bets carry a high level of risk so you should only speculate with money you can afford to lose. Stop-losses are automatically allocated with each bet you make. All stops are not guaranteed. You can lose more than your initial deposit and stake. Before you open an account, please ensure you familiarise yourself with the risks involved and if necessary seek independent advice. paddypowertrader is a trading name of London Capital Group with is authorised and regulated by the Financial Services Authority.
"paddy power spread betting" written by RThomas, last updated 15-Jan-2008
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