We try not to add too many spread betting press releases but you might just find the following article / research interesting.
Paddy Power launches pioneering research into online financial spread betting habits and profiles.
Profiting from volatile markets, tax free gains and the ability to play the stock market without paying broker fees or commissions are amongst the top three reasons for the growing popularity of online financial spread betting in Ireland, according to research released (October 2007) by paddypowertrader.
Predicted to double to over 1 million traders in the UK and Ireland in 2011, financial spread betting is the latest online offering from Paddy Power and allows customers to profit from share prices falling as well as rising without having to buy actual stock.
The results were released to coincide with the launch today of Paddy Power's online spread betting services paddypowertrader. As well as providing customers with the facility to spread bet on a wide range of financial instruments, from shares to forex, the service also provides educational resources including online tutorials, weekly market wraps and the opportunity to practice with virtual cash by opening a 'Demo Account'. Customers can also access spread betting blogs, written by experienced traders who detail the ups and downs of their own trading experiences.
Today's research, the first of its kind to survey Irish online financial spread bettors, reveals that significantly, only 10% of spread bettors work in financial services, with IT being the most common profession of a spread bettor at 16%, directors/entrepreneurs at 7%, engineers at 6% and retired people making up 4%. In fact, the research uncovered a diverse range of spread bettors' professions ranging from Civil Servants to an embalmer and a meat hygiene inspector.
The research goes on to say that online financial spread bettors are predominantly male (92%), aged 25 to 44 (77%), with 75% reading the business pages of their daily papers. 95% keep an eye on the stock market in general, 57% currently own stocks and shares while 88% find financial markets information on the internet.
Motivations for online financial spread betting range from tax free gains (64%), being able to profit from falling and rising markets (63%) and personal ability to generate a better return than your broker (38%).
49% of respondents say that online financial spread betting is a good way to learn more about the financial markets, with 48% saying that spread betting offers a good opportunity to make money, while 53% think it is also an enjoyable hobby. 63% agree that one has to take risks to get ahead in life and almost 50% use their intuition when making trading decisions. However, 78% say they would not trust rumours or act on "hot tips."
Commenting, Peter O'Donovan, Head of Financial Spread Betting at paddypowertrader said:
"It's clear from the research that online financial spread betting appeals to anyone who has a general interest in the stock market and wants to back their own judgement. Paddypower trader allows customers to easily trade a wide variety of markets while offering value for money and on-going education and support.
Also, with the ups and downs of the market of late, being able to bet on prices falling offers plenty of opportunities for speculative trading and shorting stocks. We the current banking crisis we've seen many of our customers shorting banks such as Northern Rock"
Spread Betting Research Highlights
Sources of financial information
88% internet
43% daily newspaper
38% television
Online financial information
45% investment websites
43% media websites (RTE, BBC etc.)
41% ft.com
37% newswires
34% newspaper sites
17% broker reports
Motivation for spread betting
64% tax free gains
63% no broker fees and commission
63% profit from falling and rising markets
38% better return than brokers
Top professions
16% IT & Computers
10% Financial Services
7% Directors/Owners
6% Engineers
5% Managers
5% Civil Servants
4% Retired
Preference
78% A day of trading where you just can't lose
16% A night with your favourite "celebrity hottie"
6% Your team winning the FA Cup
Participant age profile
7% 18-24
46% 25-34
31% 35-44
12% 45-54
3% 55-64
2% 65+
Spread Trading Decisions
43% use intuition to inform trading decisions
41% use technical analysis to inform trading decisions
37% use breaking news to inform trading decisions
31% use company fundamentals to inform trading decisions
31% view online financial spread betting as a way to supplement primary income
31% see online financial spread betting as a means of making a quick killing on the stock market
Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'paddypowertrader' by DB, updated 08-May-08
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Risk Warning: Spread betting carries a high level of risk to your capital and you may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
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