Question to the HM Treasury:

To ask the Chancellor of the Exchequer, who is responsible for the regulation of sports and non-financial spread bets in the UK.

The Financial Conduct Authority (FCA) has clarified that non-financial spread betting products are not financial instruments, and that the FCA’s regulatory framework does not account for gambling activity in relation to events which are not connected to financial markets.

Furthermore, the Gambling Commission does not licence products whose name, branding or marketing contain language associated with financial products, and understands spread bets of all kinds to potentially fall within the FCA’s remit.

The FCA advises that consumers who take positions in sports or other non-financial betting products should not assume they are eligible for financial compensation schemes or other financial regulatory protections.