Spread Betting. Has anybody any experience in this field?

I have used my pocket money to make some good and bad PUNTs in my lifetime but I was only really successful in one field and that was betting on horses, when I was a teenager. I studied racing form instead of listening to many of the teachers when I was at boarding school. The school matron was an great help as she placed her favourite pupils' bets with her bookmaker. I usually came home with more pocket money than I had received from my parents at the beginning of term. I had to apply my mind when I started "A" levels so I gave up betting on hoirses.

I was too busy to bet again until I became semi retired but I did not do too badly with some trades on antique furniture and the odd stockmarket punt. My history of playing autosurf is well known to fellow scam busters. I got the bug but I became a naysayer when I realised it was no game.

I know absolutely nothing about spread betting but I have been asked, if my scam busting buddies will comment on this issue. My gut reaction is that if the syndicate has any connection with a social networking site and discussed on the Internet, it must be a scam. TRUE or FALSE?