Spread betting is an exciting way of betting on a variety of events - financial, sporting and "general". For the investor used to investing in shares, it has some key advantages:

• Leverage
• Hedging
• No tax
• Potentially profitable whichever way the market is heading

But betting successfully is not as simple as transferring your skills in share investing to a slightly different game. The rules are different, the risks are different, and the route to success is different.

Respect these differences, take it slowly, and you have a chance of developing a profitable and fascinating sideline.