Extrabet - Review

Extrabet offer a fairly good financial betting interface considering it includes sports and casino, and is not just dedicated to the financial markets. Their bet types are limited to up and down, and for example, there are not any 'no touches' on offer. However, they do give you the opportunity to decide exactly how much higher or lower a stock will rise or fall (ladders). Another advantage at Extrabets is they do offer binary bets which means that your profits (and unfortunately losses) will not be limited to a fixed payout. With their binary betting system your profits will increase with a stock's performance, although if you do choose this option, you must ensure that you master the very simple concept of 1-100 betting so that you can calculate any potential losses before upping your stakes.

Extrabet have a wide variety of markets on offer, of particular interest is the rarity of UK stocks being offered on a fixed odds financial betting platform. They also offer commodities and currencies, which is a welcome bonus in comparison with some sites that merely offer the two major indices and a couple of shares to bet on. They could improve by offering futures, but that is often the way of fixed odds financial betting - at the moment.

For those moving over from traditional sport betting you can set the screen to either fractional or decimal odds to make your understanding of the the potential wins easier. This is one of the many factors that make Extrabet's interface every user friendly, although it must be noted that the inclusion of market specific interactive graphs is a long time overdue. Placing a bet is very straightforward, and there is no waiting for a series of confirmations

Spread betting is on offer although again, as with binary betting, make sure you know know what you are getting yourself into, particularly with spread betting, as although profits can be phenomenal from apparently low stakes, bear in mind you have to cover them with a substantial margin that you may lose.

Extrabet have done well, and is probably down to their commitment to providing traders with a simple, yet well designed platform to bet on. And with the variety of markets on offer, despite the lack of bet types, there is always the opportunity to make a profit no matter what is happening (or not happening) on Wall Street.

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