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Those top football clubs who took sponsorship money from binary outfits should acquire a moral compass. Leverage, which magnifies profits and losses, surely lies at the heart of that statistic. Too many beginners dont appreciate the risks of leverage until it is too late. That should be more than enough for most retail tastes. That some spread-betting firms are currently happy to offer leverage of more than 100 times, even to novices, is merely evidence on the industrys appetite for exploiting the unwary.