i just heard of these shops in england where they have spread betting. what spread betting basically is firms making book on indexes (dow spu ftse) or other instruments and you bet. One advantage is that in england betting winnings are tax free (ironically trading or investing seems to be taxable some great social policy). One of the players in making these books is Cantor Fitzgerald (www.cantorindex.com where you can also bet on how much a movie will gross the first week). my question does anyone trade on these sites and how do the spreads and liquidly compare with say the spiders or e Minis and are their arbs either between different spread shops or between the spread shops and the regular indexes. do any pros use spread betting either as a primary market or an arb tool?