A slowdown in financial betting has led to a halving of revenues from risky derivatives trades at CMC Markets, the City bookmaker.
The FTSE 250 company expects to generate net trading revenues from contracts for difference and spread-bets of about £100 million during the six months to the end of September, down from £200 million a year earlier.
Spread bets and CFDs are financial instruments that allow traders to make high-risk leveraged wagers on the direction of prices in equity, bond, currency and commodity prices.
These derivatives soared in popularity at the start of the pandemic as punters tried to make money from volatile markets through online trading platforms.
Lockdowns also contributed to their popularity among amateurs who had built up savings while stuck