Bets not already closed by the client are automatically closed on or after the last dealing day at the closing or settlement price. Details of the last dealing day and settlement method for particular bets are set in the dealing handbook you’ll receive when you sign-up to a financial spread betting firm like IGindex
For most kinds of bet other than bets on options a client can ask for the bet to be rolled over to a later date, provided the request is made prior to the last trading time for that bet. Rolling over a bet involves closing the old bet and opening a new one. You have to settle any losses on the bet that has been closed.
Firms like IG Index generally offer a spread concession when a bet is rolled over to the next liquid period, so that the total cost of closing the old bet and opening the new one is normally cheaper than if they were done as two separate transactions.
There are different types of concession depending on the type of bet. Unless otherwise specified, you pay normal IG spread to close the existing bet and are given a 40% spread concession on the opening leg of the new bet.
Some firms like IG Index try and contact clients shortly before a bet is due to expire and offer him the opportunity to roll the bet over. However, firms cannot undertake to do this in every case and it remains the your responsibility to give instructions, if you so wish, to roll the bet over before it expires.The above comments do not constitute investment advice and we accept no responsibility for any use that may be made of them. Please read our terms and conditions.