When I started matched betting, I only ever heard people talk about one betting exchange, the almighty Betfair. As far as I was concerned, the Betfair Exchange was unbeatable and I couldn’t ever see that changing. I was wrong.
More and more people were mentioning Smarkets as a cheaper alternative, but for a long time I stuck with Betfair, convinced they were the better option. Eventually, I decided to sign up for a Smarkets account and give them a chance and I’m so glad I did.
I’ve been using Smarkets to lay my bets ever since and it’s now very rare that I use my Betfair account. Let me give you seven reasons why every matched bettor should be using Smarkets to lay their bets…
Smarkets offer a fantastic flat-rate commission of just 2% on net winnings for each market, compared to Betfair’s 5%. As you know, matched betting is all about minimising qualifying losses and maximising profits, so a commission rate of 2% is hard to ignore. Having said that, it’s easy to be lazy and think it can’t make a huge amount of difference (as did I for so many months), but it does.
Take this Vernons in-play free bet offer, for example. We needed to place a £20.00 qualifying bet on five different Premier League matches and Vernons would then give us a £10.00 in-play free bet to use on each match. The following table shows the difference between placing our qualifying bets with Smarkets (2%) and Betfair (5%)…
|Qualifying Bet||Back Odds||Lay Odds||Smarkets Loss||Betfair Loss||Saving|
|Swansea to beat Sunderland||2.05||2.16||£1.22||£1.54||£0.32|
|Leicester City to beat West Ham||2.55||2.68||£1.21||£1.58||£0.37|
|Crystal Palace to beat Aston Villa||1.90||1.97||£0.90||£1.20||£0.30|
|Norwich City to beat Stoke City||2.30||2.38||£0.90||£1.24||£0.34|
|West Ham to beat Bournemouth||2.35||2.46||£1.12||£1.47||£0.35|
As you can see, our total qualifying loss with Betfair would have been £1.68 more than it was with Smarkets, which is a big saving on five straightforward qualifying bets. This was before we’d even matched our in-play free bets. If we did this offer every week for a year, it would be £87.36 cheaper to place our qualifying bets with Smarkets.
I was intrigued by the above figures and had a look at my betting activity for a random Saturday in August 2015. I worked out that if I’d placed all my lay bets with Betfair, I would have made £8.26 less profit than I did by laying them with Smarkets. That’s £429.52 less profit over the course of a year and that’s just Saturdays!
It doesn’t matter how good their website looks or how easy it is to use, if a betting exchange lacks liquidity, then it’s no good for matched betting. You’ll therefore be pleased to hear that Smarkets ticks the liquidity box for the main markets.
Liquidity has been an issue for Smarkets in the past, but as they continue to grow and challenge Betfair, their liquidity figures are gaining all the time.
Smarkets odds and liquidity for a La Liga match between Sevilla and Atletico Madrid.
Betfair odds and liquidity for a La Liga match between Sevilla and Atletico Madrid.
As you can see from the two screenshots above, the available back and lay odds are exactly the same. Betfair are still ahead in terms of the liquidity available for each selection, but the liquidity at Smarkets is more than enough for us matched bettors to take advantage of their 2% commission rate.
Cutting Edge Technology
When I made the switch from Betfair to Smarkets, the thing that impressed me most of all was the user experience.
The desktop version of the site is incredibly smooth, easy to navigate and there are no distractions.
In January 2017, Smarkets launched their brand new mobile site. Like many people, I’m not a great lover of change, but there’s no question that it’s a big improvement on it’s predecessor.
There’s faster functionality, the navigation is vastly improved and it now looks the part with a modern design that’s nice and responsive. There is also a light display version available in your account settings if you’re not a fan of the dark colour scheme.
In their own words, “Taking the role of the industry challenger, Smarkets is set to outperform the competition by offering consumers access to its agile trading platform at unparalleled value. By creating a modern betting exchange that combines cutting edge technology with a focus on transparency and treating the customer fairly, Smarkets is leading the innovation in the sports betting industry. The Smarkets platform is fast and efficient, capable of processing a transaction in milliseconds and coping with over a thousand transactions per second. With continuing attention to the site’s engineering and speed, Smarkets are gearing up their platform to pose a serious challenge to other established betting exchange operators.”
Clever Lay Betting
If you’ve used other betting exchanges such as Betfair, you’ll no doubt be familiar with the frustration of trying to lay bets with fluctuating odds. Time and time again, I would be ready to place a lay bet having entered the correct lay stake only for the odds to drop at the last minute. I would then have to recalculate my lay stake with the new odds and try and stake the new amount before the odds changed again. You’ll be glad to know that with Smarkets, there’s no messing about.
Imagine that we need to lay £2.00 on Tottenham to draw with Everton at odds of 3.05, giving us a potential liability of £4.10…
…Just before we place our bet, the lay odds drop to 3.00. Instead of getting the matched betting calculator out and recalculating our lay stake to be £2.03, we can click ‘Place Bet’ and Smarkets will do the adjusting for us…
…As you can see, our stake was adjusted to £2.03, giving us a reduced liability of £4.07.
If the lay odds had fluctuated up instead of down, our bet would be pending until someone matches it.
Smarkets Instant Match
Sticking with the topic of fluctuating odds, in-play betting can be somewhat tricky for that very reason alone. Odds fluctuate massively when an event is in-play and it’s always a race against the clock to work out our lay stakes and get our bets placed before the odds change. The Smarkets ‘Instant Match’ feature makes matched betting in-play a whole lot easier.
‘Instant Match’ markets are indicated by a football icon and in the blue bar as shown here.
The beauty of placing bets on markets where ‘Instant Match’ is available is that our bets will be submitted and placed into a market without being subject to an in-play betting delay. Instead, once our bets have been matched, they will be subject to a confirmation period of 8 seconds and will show as ‘Pending’ on our bet slips until they have been confirmed. Bets will be confirmed so long as nothing major happens within that 8 second confirmation period that might have a decisive impact on any team’s chances of winning, such as goals, red cards or penalty kicks.
So we simply place our in-play bets and they are effectively ‘reserved’ pending confirmation. The available liquidity will decrease as soon as we place our bet. If our bet isn’t confirmed, then our bet will become ‘unreserved’ and the liquidity available on that market will increase accordingly.
Smarkets are committed to providing the very best user experience possible. They’ve recently released two brand new features; ‘Keep Bets In-Play’ and ‘Trade Out’.
The ‘Keep Bets In-Play’ feature enables customers to keep their unmatched bets live once the market goes in-play. Ordinarily, any unmatched bets would be cancelled once an event starts but by keeping their bets in-play, customers now have a greater chance of their bet being matched at their requested price.
The ‘Trade Out’ feature enables customers to effectively cash out an exchange bet, both pre-match and in-play. This means they can either lock in a profit or cut their losses, which is particularly handy for traders.
The trade out is calculated in real time based on live contract prices.
On the Betfair Exchange, if a customer wants to trade out, they have to trade out the entire market. However, with Smarkets, customers are able to trade out single contracts. So, for example, if a customer has placed bets on multiple horses in the same race and they wish to trade out one particular horse, they are able to do so without having to trade out all horses.
Smarkets Sign Up Bonus
Having already highlighted so many selling points, the Smarkets sign up bonus really is the icing on the cake. All we have to do is make sure we deposit at least £20.00 in a single amount and our losing bets thereafter will be refunded up to a maximum of £10.00.
Conclusion: Smarkets v Betfair
Smarkets’ commission rate of 2% enables us to maximise our profits to a whole different level. In my opinion, the user experience with Smarkets beats Betfair hands down. I just love the fact that their focus is on making everything easier for us and they certainly succeed in doing so.
The only area I feel Smarkets need to improve is the amount of available markets. This is something they’re currently working on, having added First Goalscorer and Asian Handicap markets in February 2017. Betfair undoubtedly offer a wider range of markets, but as far as matched betting is concerned, Smarkets offer plenty. The vast majority of offers can be done using Smarkets and it’s very rare that we have to use our Betfair accounts.
Anyone who is serious about matched betting should be using Smarkets for the many reasons outlined above. Sign up now to increase your profits and make the matched betting process a whole lot easier!
Smarkets are an online betting exchange and they are a growing force in the industry as well. They were founded by a small group of investors and have impressively grown from there with such financial clout behind them. They branded themselves as being a more “advanced trading platform” than other major betting exchanges out there and gained impressive ground in 2017 when the Financial Times named them the 25th fastest-growing company in Europe.
Betting markets and odds quality 8/10
The presention on the Smarkets site is really nice, it is a very good website and easy to get around. The odds are highly competitive because this is an exchange and you have peer to peer betting to add that extra value to options. There is very good horse racing coverage on the site from the UK and Ireland but punters will find that there is an absence of stats to fully backup the exchange market options.
- Open account with Smarkets
- Make initial deposit of £20
- Earn a free £10 bonus on the account
Smarkets have built quite a reputation for political betting as well as other novelty marketsfrom popular culture like awards. Can you see yourself anywhere else finding a market for the Clay Prize Winner in the field of math? No, is probably the answer to that. So you have the flexibility of not only naming your own stake on such markets but also the price that you want to take. This is done by simply scrolling through to the odds that you want and you will hopefully have that price matched for the bet to be active.
It is very straightforward and easy to operate and it is an enjoyable user interface overall. So the betting exchange gives you control of your odds which means that you have quality there and there is only a 2% commission that you pay on net winnings, so you don’t have the middleman bookmaker running betting margins. Overall, the odds quality, therefore, are very good, even if it is in limited betting markets.
Smarkets sign up bonus, free bets & current promotions 6/10
There is a small welcome bonus that you can pick up when you register a new account with Smarkets. You just have to open and deposit a minimum of £20 as your first funding with them and then you will receive a £10 bonus back on your account. Then any losses basically that you make up to £10 to start off with will be automatically refunded. In order to withdraw any rebated funds, you must wager at least the qualifying deposit on any combination of markets. That has to happened within the promotional period which is three months as that is when unused bonuses will expire. The promotion is open to new users making their first deposit by card or bank transfer only. New Customer Offer, T&C’s Apply, 18+. Please Gamble Responsibly. See details directly at Smarkets.
£10 Welcome Bonus
18+. New customers only. To qualify for initial £10 welcome bonus you must deposit a minimum of £20 by card or bank transfer as your first transaction when you sign up. Once added to your account, the welcome bonus will automatically refund your first net market loss or losses to your account in cash up to the value of £10. Full Terms&Conditions apply.
Smarkets are a little different in that they really don’t deal with promotions at all. You won’t find any other promotional value on the site like money back specials and free bets. Their big selling point is their flat rate commission of just 2%.
In-play betting 6/10
Smarkets do run the full in-play betting service and they focus largely just on the major sports like football, tennis, baseball, cricket and golf for that. Live in-play opportunities are selected from down the left-hand menu, and there is an Instant Match feature available, where you immediately take at the requested price on a live bet. That is opposed to waiting until the counter reaches zero and hoping that the price you want is still there. There didn’t’ appear to be as many live betting markets available as you would find perhaps at other established bookmakers.
Clicking on a live event brought up a decent selection of the standard markets that you would expect to find anywhere and nothing more really. It wasn’t the most extensive live in play betting section that we have come across and there was nothing to support a game such as stats or a graphical representation of how the game is flowing.
Extras & features 7/10
With Smarkets you aren’t looking at a lot of extra features on the site at all. It is very down-to-business; here are odds, bet on them. There is really nothing else going on anywhere than the sportsbook itself. There is no live streaming, no stats to back up anything there, and not a great deal of future events, even on the popular football leagues like the Premier League. You get the feeling at Smarkets that ‘now’ is what counts. That lack of sports stats could be something that punters would miss greatly.
They do have a good trade out feature. This is where you place a bet to oppose the outcome of an existing wager, used to lock in profit, reduce exposure and basically cancel out a previously match bet on that market. This is essentially hedging a bet and an example is an existing £10 lay stake on Juventus to beat Real Madrid at 3.00 with a liability of £20. Real Madrid are winning at half time and therefore you trade out by backing Juventus to win at bigger backed odds of 8.0 than the lay odds that you took on them. So no matter the outcome, you would ensure a win if your staked £3.75 on Juventus to win. There is a great hedging calculator available to figure it all out.
There are, basically, no other sections on the site other than the sportsbook to browse around. But if you are looking for a very clean functional exchange site, they have it.
Smarkets payment options - deposit and withdrawal methods 7/10
A look at the payment method page at Smarkets will show you the many different ways that you can get funds into your account. There are the regular wallet and credit/debit card methods along with Bank Transfer available. There are different limits, fee and processing times, so check through the best source for you. Withdrawals can only be made back to the funding source.
Deposit Methods Include: Skrill, Neteller, Bank Transfer, Mastercard, Visa Credit Card, Solo/Maestro, Visa Debit Card
Withdrawal Methods Include: Skrill, Neteller, Bank Transfer, Mastercard, Visa Credit Card, Solo/Maestro, Visa Debit Card
User-friendliness of website & mobile app / mobile version 7/10
The site feels different from the regular bookmakers and that is something that Smarkets have clearly gone for. This is a really nice main website and betting slip that you have in place at the site. You can switch between the mobile layout and the mobile friendly desktop layout on your computer if you want and you can switch between full desktop and mobile site on a device. They do now have an app for iOS and Android now, which was released in 2017. This, fast and secure app will allow you to keep up with your in-play bets and enjoy the trade out features.
Smarkets Customer Service & Support, Security & Reliability 7/10
All transactions in your account use TLS and SSL for security. There is a contact section at the site and you can access a chat online 24/7 so that could be the best way to get a hold of them. You have a email@example.com email support to contact them or you can call them at +44 207 617 7413 between 9 am and midnight GMT.
Our Smarkets review rating: 8 / 10
So this is a betting exchange and a good one. The site is beautiful and really great to navigate your way around and the value is great through their peer to peer odds. However, where it perhaps will fall down for punters is in not having a particularly expansive sportsbook, a lack of any other features whatsoever and limited in-play options. They have a brilliant base to work on though to build from and that 2% commission is a big winner.
The betting exchange Smarkets began in 2008 in London with a team of 35 financial experts and software engineers focused on delivering a highly-engineered, innovative gambling platform. Founder and CEO Jason Trost started the betting exchange when he looked at the outcomes of an American presidential election and realised that traditional betting sites did not offer much customer participation.
Having worked as an equities trader, Trost realised he could offer customers an interactive betting exchange with higher returns than traditional bookmakers.
Smarkets is not exposed to the risk of losing bets, it takes just 2% commission for the users’ net winnings on each market. The betting site is committed to promoting transparency in the sports gambling industry.
Smarkets covers popular sporting events, as well as niche sporting event, political and entertainment events. You can bet on football, rugby, cricket, golf, basketball and also sports like volleyball and handball. Plus there is a nice Smarkets bonus to help new customers get started.
Is Smarkets safe? We say absolutely. Regulated by the UK Gambling Commission and the Malta Gambling Authority, Smarkets is a reputable and safe bookmaker for placing bets and trading in a wide variety of different events.
The result of the OpenOdds Smarkets review
Smarkets takes an entirely new approach to online gambling. As a peer-to-peer betting exchange – the Skype of sports gambling – OpenOdds found that the user is given more interaction with betting on a wide variety of real time events, right up until their ends. From sports to politics to current affairs, the OpenOdds’ Smarkets sportsbook review finds it to be a sophisticated and modern betting provider and an alternative to the traditional gambling site. As it works by applying principles behind financial trading to the online sporting industry, the user gets better odds and higher margins.
Unlike a traditional bookie, Smarkets allows its users to bet against each other and they even put on a Smarkets bonus to give you a helping hand. As betting exchanges are essential for match betting to work, the Smarkets user is able to interact with the entire betting process.
OpenOdds found Smarkets to be one of the most innovative betting providers and noted that it is favoured on betting platforms as a safe, straightforward, easy to use betting exchange, consistently offering favourable betting odds, low commission and good liquidity.
Erfahrungen mit Smarkets: Innovative and interactive
- Transparency and no hidden costs: Smarkets takes just 2% commission for the users’ net winnings on each market.
- Customers can set their own odds and bet against each other, right up until the end of the event.
- Bets placed on underdogs can be very lucrative thanks to Smarket’s fantastic odds.
- By using the latest financial technology, this bookie can offer the latest betting odds at competitive prices and pay out higher margins in regards to OpenOdds’ betting odds comparison.
- Speaks to the younger, tech-savvy gambler as it is the latest betting service available that uses technology to make the betting platform cheaper, with better liquidity and more sociable.
Smarkets review: innovative and interactive – enjoyable online gambling
- Transparency and no hidden costs: Smarkets takes just 2% commission for the users’ net winnings on each market.
- Customers can set their own odds and bet against each other, right up until the end of the event.
- Bets placed on underdogs can be very lucrative thanks to Smarket’s fantastic odds.
- By using the latest financial technology, this bookie can offer the latest betting odds at competitive prices and pay out higher margins in regards to OpenOdds’ betting odds comparison.
- Speaks to the younger, tech-savvy gambler as it is the latest betting service available that uses technology to make the betting platform cheaper, with better liquidity and more sociable.
Smarkets OpenOdds comprehensive rating report concerning this top bookmaker
All bookmakers, thoroughly tested by the OpenOdds team, must prove themselves in the following 10 review categories
01.Bonuses:Time will tell if you reap the rewards
Smarkets's Bonus Program7/10 Punkte
- Initial deposit of £20
- Matched deposit of 50%
- Industry-low commission rate
- Bonus ticks off after first bet loses
- More details on bonus page
Many online betting websites offer a variety of different sign-up promotions and new user bonuses. How does Smarkets compare to the best free bets offers? Here again this bookmaker differs from other online betting providers like online casinos and other well-known sports sites, as it only offers one bonus exclusive to first-time users. In order to receive the betting promotion, new bettors are required to deposit an initial sum of £20 upon registration to receive the . Smarkets will match the initial minimum deposit of £20 by 50% and give new bettors a starting sum of £10. Users must bear in mind however that there is the attractive feature of the flat rate industry-low 2% Smarkets commission and the best betting odds. Users in a betting exchange are themselves becoming the bookie, so greater market analysis is also required. Your welcome bonus will automatically
refund to your account following your first loss.
02.Customer services:Happy to help whenever, wherever
Smarkets' Customer Services7/10 Punkte
- 24/7 support
- Live chat, e-mail and telephone support
- Social media help also available
- Extremely friendly and helpful staff
Smarkets, as a startup, know how valuable holding onto a good reputation is for their success and longevity. For this reason amongst others, they make their customer a priority. Smarkets reviews all doubts or queries and gets back to customers at any time of the day, from anywhere in the world. When you’re logged in to smarkets.com, you can chat to one of the team 24 hours a day, 7 days a week. Alternatively you can call their London-based customer service hotline on +2017 617 7413 or drop them an email to firstname.lastname@example.org. They can of course also be reached by sending a tweet or DM to @smarkets. By all accounts, the Smarkets support team are clued-up, willing to help and extremely friendly.
03.Sports covered:what sporting events can you place a Smarkets bet on?
Smarkets' Sports Coverage8/10 Punkte
- Massive amount of sports covered
- Peer-to-peer betting exchange
- Any demand and there is a bet
- Plenty of niche sports on offer
- Resulting in more of a margin
Pretty much anything. Smarkets, is a peer-to-peer betting exchange, if there is a market for it, there is a bet for it. Smarkets offers all of the popular sporting events like horse-racing, football, tennis, American football, baseball, basketball, cricket and golf. Yet it also goes a step further by offering more niche-market events that have less of a following – but more of a margin as a result – namely: volleyball, rugby, ice hockey and handball. Smarkets should definitely be considered in the same league as other sports betting bonuses.
04.Payment methods:hassle-free payments
Smarkets' Payment Methods8/10 Punkte
- Traditional methods covered
- MasterCard, Visa and Maestro
- Neteller and Skrill also supported
- Initial deposit of £20 and from then £10
Like most betting providers, Smarkets makes deposits & withdrawals simple and straightforward. Customers can use MasterCard, Maestro, Visa Debit/Credit, or Solo. Other payment methods can also be used, such as bank transfers, Neteller and Skrill. Once you have deposited your £20, you are free to begin using Smarkets with any of the above mentioned payment methods, the minimum deposit from then on is £10 for a credit or debit card, or £20 for the other payment options. For payment withdrawals from your Smarkets account, only MasterCard and other credit and debit cards charge a handling fee. Withdrawals take between 1 and 6 working days, with the exception of a bank transfer that can take as little as 5 and as long as 10 working days.
05.Security:Is Smarkets safe?
How safe is Smarkets?8/10 Punkte
- Non-disclosure of information
- Licensed by Malta Gaming Authority
- Credit references may be applicable
- Data protection details easily found on website
Smarkets will not disclose any personal information to anyone not concerned or connected with the service you are being provided with. By law it may be required to disclose your personal information to authorities such as the Malta Gaming Authority. Supplying your information details to authorized credit reference agencies is a mandatory part of the registration process, this is done for your own security as a means of confirming identity and payment methods. Otherwise, information that concerns security, data protection and communication are easily found on the website, pointing to its being a reputable registered betting provider.
06.Betting odds:The ball is in your court
How good are Smarkets's odds?8/10 Punkte
- Very competitive odds
- User can always determine it in their favour
- Sliding scale bets from 0 to 100%
- Accurate predictive tool for events
Similar to other Smarkets reviews, we wanted to see if the odds Smarkets offer are more competitive. Our Smarkets review has shown that the Smarkets odds are, in fact, very competitive. This is down to a lot of data, but also your own hard work.
Smarkets thinks about odds in the same way a trader would think about stocks: you want to buy low and then sell high. Bets can be traded between 0% and 100% and it is the user on the betting exchange platform that decides upon the probability of an outcome, and sets their own odds. With Smarkets, no matter what the sporting or political event, the underlying factor is that the user is able to make the call and set what odds seem likely and work in their favour. There is a bit more legwork involved for the user as they have to analyze factors that may or may not affect the outcome of an event. Essentially, odds are thought about in terms of probability. Due to the amount of people using the betting exchange, and the fact that they are trading their knowledge and information on the likelihood of the outcome of an event, Smarkets can be used as an accurate and predictive tool for media outlets in the run up to the event in question.
07.User-friendliness:How do you make a Smarkets sports bet?
How easy is Smarkets to use?8/10 Punkte
- System may be difficult to understand
- Plenty of help boxes to ensure you grasp the idea
- Website is intuitive
- Easy to navigate
At OpenOdds, we watched a few tutorials to get the hang of Smarkets, For those not familiar with how betting exchanges work, it can be tricky to get your head around. Although it has to be said, it’s a pretty different betting experience altogether, so perseverance is key. For each outcome, Smarkets offers 2 different amounts, one in green and one in blue, the green telling you up to how much you can back something, and the blue telling you how much of a lay bet you can place: to bet against. The odds are clearly set out and you can see the popularity of those backing and those against. This gives a clear idea of the market value of the bet, and can make predicting the outcome a little easier. Something that we really liked at OpenOdds was that if you’re unsure what the odds and figures refer to, and how much you could spend, by hovering over the amount, stake, or odds, a box would appear explaining in detail what you can do.
08.In-play product: real-time odds in real-time games
Smarkets' Live Betting Service7/10 Punkte
- In-play option available
- Numerous sports to choose from
- Odds are always changing
- No live streaming service
We gave the quality of Smarkets’ in-play product a high Smarkets rating. From Argentina’s Premier Division Football, to the French Open’s last set, with Smarkets In-play, you will be able to get into some sporting action at any time of the day. You can see how up-to-date the odds are as they change considerably over a short-space of in-play time. The user needs to be aware and ready to make their timely bets, as and when the odds are best in their favour. The variety of in-play options available are lengthy, from deciding neither team will score first half, or both will score in the last ten minutes, the user will feel as involved with the game as if he were the bookie…or the player.
09.Other products:Is there a Smarkets casino site?
What else does Smarkets have to offer?7/10 Punkte
- Large gathering of thoughts on political events
- Used as a side tool for other bets
- Bets range on anything that could take place
- If it’s covered by the media, Smarkets offer bets on it
The thing we liked best was the real time odds on offer, the data that Smarkets software uses offer instantaneous and real-time odds, and unlike other sites, betting doesn’t close when the event begins, it closes when the event ends.
Everybody wants their opinions heard, and Smarkets is becoming a tool for waging your own thoughts on the outcome of political events. The betting exchange is the go-to place to show your opinion and predictions for upcoming election results. In doing so, this is allowing the market to see the probable outcome of the event. Betting on the outcome of political events is not as popular as it was in the past, however with more outrageous campaigns (Trump, anyone?) and shock outcomes like Brexit, people are now becoming more inclined to see the possible returns in political prediction gambling. Smarkets: you saw it here first!
10.Bet limits:responsible bookmaking/span>
Smarkets' Betting Limits7/10 Punkte
- Committed to responsible gambling
- Can set own limits
- Time-outs on accounts are also available
- If it comes to it, self-exclusion is also possible
Smarkets is committed to responsible gaming, and as such offers its clients a deposit and loss limit on their account. Once you have set the limit on your account, there is a period of a week before it can be increased. Should you wish to reduce limits, this will take effect immediately. Users can also set time-outs on their accounts, ranging from one day to one month, in this time, users will not be able to access their account until the established period of time is over. Alternatively, users can self-exclude for a minimum period of 6 months. Following this time, users can request access to their account. Depending on the bet and the odds you wish, there are limits imposed on each. These odds and amounts can be increased and changed should you match the bet with another user.
Our Verdict of Smarkets:Interesting fintech bookie
While Smarkets is not the first betting exchange available, it can definitely be considered an industry changer. By defining itself as fintech, it automatically sets itself apart from other gambling sites. Through technology, it offers its users a fun, new, and competitive way to bet. Where many may say you’ll never beat the bookie – with Smarkets that no longer applies. Having replaced the bookie altogether, you are the master of your own odds and can use the Smarkets bonus to win even more!
Smarkets is a brand known for integrity and security when it comes to online betting. Smarkets base their platform on the principles of financial trading integrated into the online betting industry to make the experience for customers better and more secure, making the overall gaming experience more fun for its players.
Smarkets Exchange – What it is and How does it work?
The Smarkets exchange, just like any betting exchange, offers a wide range of betting opportunities for people. Aside from the usual sports betting markets, Smarkets also offer other betting opportunities that you won’t usually find in the regular betting exchange. Users can also bet on political events such as elections or even awards events like the Grammy’s and such.
What makes Smarket’s system unique would be its peer to peer exchange system which makes the transactions safer and secure. It also means that transactions are faster because of the peer to peer feature which eliminates all other information blockages in between.
On the right side of the homepage, there is a login and a create account button. To sign up for an account, simply click on the create account button right below the log in button. Refer to the screenshot below:
First step of registration – Create your account
Second step of registration – Enter your sign up details
Once that is done, then you must enter your personal details in the next form. You need to enter your full name, your phone number, and indicate your country of residence. After that, you need to key in your address. Once that is finished, you just click on the save details, and you’ll be able to use your account.
Third step of registration – Enter Your Personal Details
- Step: Create Your Account by Clicking on the “Create Account” Button on the Right
- Step: Enter Your Sign Up Details and Click “Sign Up”
- Step: Enter Your Personal Details and Click “Save Details”
How to activate our account
After you have already input your details and have signed up, you will be sent a verification code to your provided email address. The email will contain the instructions on how you can verify your account. Once you have followed the instructions, you may now log into your account and start placing bets.
How to verify your account before any withdrawal
To verify your account, you have to email some documents to Smarkets to proof your age and your address. To meet this requirement, you may submit your passport, driver’s license, national identity card, or firearms license. For the proof of address, you may provide your bank statement, utility bill, a tax bill, or a local government certificate. All of which must be recent (up to a max of 3 months). The documents may be uploaded to the website or sent to email@example.com.
What to do if we lost our password
If you forgot your password, you might make use of the Smarket lost password facility. All you need to do is to click “Forgot Password” during your login, and you’ll be requested to submit your email and your birthdate. Smarkets will then send an email containing instructions on how to recover or change your password so that you can log in again and continue placing bets.
Website Review – Design and Layouts
The website has a very modern design that is very interactive and very easy to navigate. Unlike most online betting websites, this one is not very cluttered and also makes use of slide features so that you don’t have to be redirected from one page to another too many times. It is also very spacious, so it doesn’t look painful to the eyes.
The layout is also excellent and very user-friendly. The betting markets can be found in a slide button to the left. Your log in options can be found on the right along with the popular events. Lastly, your top markets can be found in the middle. Everything else is located in the bottom part of the page. Everything is appropriately arranged which makes it an enjoyable and organised website. Features would make it interactive for the best user experience.
Sports-betting in Smarkets is quite limited, but they do cover all the favourite sports. Some of the popular games would be horse racing, football, baseball, cricket, rugby, and cycling. They also offer other sports such as tennis, boxing, motocross racing, cycling, and rugby leagues. Basically, all of the major sporting events are covered by this website.
As for the odds, Smarkets would make use of collective knowledge and bets of the traders in the market. To base its odds the bookmaker is using the numbers suggested by the participants themselves. Smarkets also have access to in-depth market data which would help present higher winning odds. So far, their odds have been mentioned by several media companies like BBC, Bloomberg, and Financial Times.
New customer bonus: Deposit at least £20 and get £10 Free Bet
New customers who will sign up for Smarkets would receive a £10 welcome bonus in the form of a free bet when you deposit in a minimum of £20 through your credit/debit card or through a bank transfer. When you credit your account for the first time, the £10 welcome offer will be able to cover your first loss.
The terms and conditions are found below:
- The bonus will be credited to your account and losses will be covered by the bonus
- You have to deposit a minimum of £20 to qualify for the bonus
- Customers who don’t use bank transfer or card for depositing the money into their accounts are not eligible for the bonus
- To withdraw the bonus fund, you have to bet at least the minimum deposit of £20 to any of the markets within the promo period
- Bonuses that have not been used for three months will not be valid anymore
- The promotion is only eligible for those who deposit using bank transfer or card
- The bonus is only eligible once for every account
- This bonus cannot be used along with other promotions
- Smarkets has the right to deny the availability of the promo to any customer that the company deems ineligible
In-Play (Live betting)
The In-Play mode of Smarkets would feature live betting which allows you to bet while the event is going on live. The In-Play mode of the website would show the games or other events that are live now. If you want to take part in one of them, this feature will allow you to. You can choose which team or side you want to bet on, and you can also see the odds of the winning side. You can also decide on how much you want to bet.
Horse Racing and Greyhounds
Smarkets would provide many horse racing markets that you can bet on. There is a vast amount of races or events that you can bet on with many players that you can also choose from. Smarkets will also show you the odds of winning per player so that you can have an idea on which ones players are betting on. The site will also calculate some possible returns that you can get as well as the liabilities that can be obtained by choosing a particular player.
As for greyhounds and dog racing, Smarkets does not provide betting markets for greyhound and dog racing. The only racing events that Smarkets would offer is horse racing.
The Smarkets’ cash-out option is known as the trading out. The process of trading out enables you to cancel out a previously made bet that didn’t go your way. This can help you reduce your liabilities and also helps you lock in profit even if it’s a small one.
Basically, the trade out function comes with a specific button that allows you to get a profit already or cut your losses early in the event so that your losses won’t be so significant. However, you may only activate the trade out button when you have matched bets on a contract, if there is an adequate amount of volume on the market, and if your exposure is higher than £0.
Upon clicking on the trade out button, a form will pop up with all the details on your deal. Once you have filled out the information, then you will be shown a confirmation step which will allow you to confirm after.
There is a total of seven payment methods that you can use to deposit your money into your account. These seven payment methods all have their own distinctive fees and transaction entry time. These are the visa debit card, MasterCard debit card, Visa credit card, MasterCard/Eurocard, Neteller, Skrill, and bank transfer. For visa debit cards, there are no fees, and the money is deposited instantly. You are allowed a minimum deposit of £10. The same goes for the Solo/Maestro card debit card.
For visa credit cards, you will be charged a fee of 2.5% of the transaction and the money is deposited instantly. You are allowed a minimum deposit of £10. The same goes for a MasterCard/Eurocard credit card.
For Neteller, there are no fees, and the money is deposited instantly. You are allowed a minimum deposit of £20 and a max of £5k per day.
For Skrill, there are no fees, and the money is deposited instantly. You are allowed a minimum deposit of £10 and a max of £5k per day.
For bank transfer, there are no fees, and the money is deposited within 3 to 5 business days. You are allowed a minimum deposit of £10. The same goes for the solo/Maestro card debit card.
- Deposit Methods
- Withdrawal Methods
All Deposit Methods: Trustly, Bank Wire Transfer, Skrill, Neteller, MasterCard, Solo, Maestro, Visa
All Withdrawal Methods: Trustly, Bank Wire Transfer, Skrill, Neteller, MasterCard, Solo, Maestro, Visa
Smarkets offers two ways that you can place bets using your smartphone. This would be through the mobile-friendly website and the mobile app.
The mobile-friendly website is exactly like the regular website, only it is more compact and offers a better view of the customers. Other than that, it offers the same features as the regular website does.
For the mobile app, it is compatible with both Android-powered smartphones and also iOS devices. It also allows you to sign into your account and manage your bets.
This app also comes with a quick trade find a feature that allows you to look for trades in the market easily. You can also change between light and dark interfaces to suit your own preference.
Smarkets has a three-step sign-up process that allows you to become an affiliate member and earn some substantial commissions. Basically, you just need to follow three simple steps to sign up: Apply, Approve and Earn.
From there, you will see a button that says Apply To Be An Affiliate. Follow the instructions on that page, and you’ll be able to apply. Next, you have to wait for the approval of Smarkets before you can proceed to become an affiliate. Smarkets is quite particular with who becomes an affiliate, so you will first have to be screened. Once your application has been approved, then you can start earning through referrals. You will receive commissions based on the amount of money that your references have paid to make bets in Smarkets.
Smarkets is known as a betting exchange that offers to trade for sporting events, political events, and much more. Founded in 2008, the founders consisted of a small group of finance professionals and software developers lead by their current CEO, Jason Trost. With their knowledge both in financial markets and also in program development, they were able to make an innovative version of online betting.
With the core mission of providing an honest and superior platform for players, the system aims to process hundreds of transactions in just seconds. Being open to all the major sports markets, Smarkets offers very competitive odds that were even mentioned by BBC and Bloomberg.
For customer care support, there are typically six ways that you can get in touch with the customer support team. The first would be through email which is the most common way. Smarkets also allows you to reach the support team on Twitter if you are more often than not on your social media accounts. Another would be through live chat which is probably the best option of the six since it allows you to get in touch with the customer care team right away. However, this feature is only available for those who are already logged in. This means you have to make an account. Another would be through their phone line which is only available between 09:00 to 19:00. Lastly, there would be the mailing post option wherein they will provide an address where you can mail them.
In the website, they have very accessible and very efficient customer care representatives. One of the unique features of this website would be that you can contact the customer support team through Twitter, which is something that a lot of betting websites don’t offer. The only downside of the customer support of Smarkets would be that their chat services and the phone services are only for those who have already registered with the website. This would discourage those who are from different countries and want to make inquiries quickly. Other than that, their customer support is very efficient and also very effective.
As stated above, there are several ways to get in touch with Smarkets. These ways are through email, on Twitter, through live chat, by phone, or through mailing. Below are some of the details:
- Email Address: firstname.lastname@example.org
- Twitter Name: @SmarketsTech
- Phone Number: +44 207 617 7413
- Mailing Address: 1 Commodity Quay, St. Katharine Docks, London, E1W 1AZ United Kingdom (see the location in Google Maps)
These are some of the ways that you can be able to get in touch with the customer team of Smarkets.
Final Verdict and Rating
Overall, Smarkets would receive a full rating of 9 over 10. The first thing to take note of would be the registration. As a whole, the registration is effortless and does not require you to fill up too many forms because customers in general hate are filling up long forms for signing up. Another thing to take note of would be the security features that it offers to clients. Smarkets, a whole, already has a good reputation when it comes to security and integrity so that in itself is a plus for the company. It also helps that media channels also feature their odds. Just like all the other betting websites, you also need to submit a copy of your proof of identity and proof of address for security purposes so that you won’t fall victim to identity theft. Smarkets also offers a very easy to recover your password just in case you lose it. So security has already been covered.
Next would be the website functions and the layout. One of the best things about the layout and design of this website is that it’s clean and straightforward. Unlike most betting websites that are very flashy and quite cramped, this one uses a more minimalist approach to design which makes it a breath of fresh air. As for the functionality of the website, it doesn’t make use of too many page redirections because people value webpage speed. The bookie has incorporated sliding functions so that people can access its information quickly and easily.
For their bonuses, they offer a generous sign-up bonus that allows new customers to cover their first loss if they would already put in the initial deposit in their account. This is a good bonus that would definitely attract a lot of potential customers to the website. They also have a very good cash-out option if you want to exit a bet that you’ve already placed money on while the event is still going on. This would allow you to cut losses or just gain a small profit so that you don’t need to lose too much money on the bets.
Though the website and the platform in itself are already amazing ones, two things would make the platform fall short of 1 score. The first would be limited to gaming markets. Although it makes up for it with rather unusual events such as political events and awards events, classic sports bettors would want to have more choices for their sports events when they go betting. It also lacks one of the more popular sports– greyhound racing. The other downside would be the limited use of customer care live chat and phone services. As stated in the “Customer Care” section, the customer care hotline and the live chat services are only limited to those who have already signed up. Although this encourages people to sign up, it may do the opposite for those who like to inquire more before they sign up. By not having quick access to the customer care support, these people may be discouraged to sign up instead of encouraged.
Other than those two points, Smarkets is definitely a great sports betting platform that sports bettors will enjoy putting their money on. It is also a very safe one with competitive odds. If you are avid sports better, then this platform is definitely a recommended one.
In operation since 2009, Maltese licenced firm Smarkets exchange have taken on the unenviable task of trying to penetrate the betting exchange market. Dominated by Betfair and with Betdaq a clear second best, the whole business model is dependent upon building a customer base so that liquidity is good and customers can get decent stakes on their selections. In this article, we take a look at Smarkets potential for long term success, assessing their current liquidity levels, sports on offer, functionality of their website and much more.
The website has a very slick, modern and minimalist feel, with users easily able to navigate to their desired markets. A black, grey, white and green colour scheme is utilised and aesthetically, it is a nice website to look at.
The list of different markets can be found on the left hand side of the page, with a search bar in the centre of the page. The selected sport/market appears in the centre of the page and the customers bets appear on the right hand side of the page.
There is a mobile website which is automatically loaded when visiting Smarkets exchange from a mobile device. The functionality is the same as the main site and the pages load quickly.
There are odds for a total of 10 different sports in addition to politics and current affairs betting. All of the major events such as horse racing, football, tennis, basketball, cricket, handball, ice hockey, rugby union, rugby league, and volleyball are covered.
For games in the top leagues, there are several markets on top of the 1X2 offerings. These include half time/full time, draw no bet, correct score, over /under and both teams to score. There is no handicap or Asian handicap betting which has to be considered a negative, as this form of betting is getting increasingly popular.
For basketball matches, there is just the moneyline (winner of the game) and for ice hockey fixtures, customers can bet on the regular time result and the match winner. In terms of additional bet types, Smarkets pales in comparison to the other betting exchanges.
The liquidity is very important when it comes to betting exchanges. Liquidity refers to the amount of money available to back and lay for each selection. The more liquidity, the more stable the odds are and the more money punters can get on. With Smarkets exchange, the liquidity for the major football matches is surprisingly very solid. Just before kick-off for the Monaco v Arsenal UEFA Champions League match, there was £24,000 available on Arsenal to back to 2.16 (the same price as available on Betfair). There was however only around £1300 available on the draw at the same price.
Even for the mid-week horse racing action, the liquidity for the pre-race market is fair, with average punters able to get their bets on at competitive odds. However, once the markets go in-play, market depth is non-existent. Unlike Betfair and Betdaq, it would be very difficult to assume a pre-race position and then trade out in-running, as there is just not the money in the live market.
For the smaller sports such as handball and volleyball, there isn’t quite the customer base to make the markets solid enough in terms of turnover to create robust markets. For instance, two hours before the German Bundesliga volleyball match between Netzhoppers KW vs SCC Berlin, not one penny had been matched on the game.
The competitiveness of odds is always determined by the total book percentage of a market. The total book percentage refers to the sum of all of the odds in an event, when expressed as percentages. A 100% book would indicate no inbuilt profit margin. With conventional bookmakers, the odds are set by the firms, but with betting exchanges, the odds are set by a free market supply and demand model. Generally, the more money in an event, the more likely the odds will be accurate and the margins will be lower.
For top events, Smarkets exchange has some very competitive percentages. For instance, their UEFA Champions League match between Barcelona v Manchester City saw a total book percentage of 100.6% for the back side, and 99.5% for the lay side – very impressive indeed. At the time of comparison, those figures were identical to Betfair. In terms of turnover, Smarkets had £131,860 matched, whilst Betfair had £593,221.
Again, on the smaller sports with less turnover, the total book percentages are much bigger. Even for NBA basketball matches, on the day of the game, the book percentages worked to 109% for the back side and 90.65% for the lay side.
Betting exchanges make their money by taking commission from punters, usually on winning bets. Smarkets exchange only take 2%, giving punters a great deal. Those using Betfair will start off paying 5%, which can reduce to a minimum of 2% (although the customer would have to turn over a large sum of money to achieve the lower figure).
Smarkets provide a modest sign up bonus of 50% up to £10 (or currency equivalent), which is given as a risk free bet. When a customer loses a bet, they are refunded up to a maximum of £10 on that event. In order to withdraw rebated funds, customers must bet at least the qualifying deposit on any markets within the promotion period (3 months), otherwise the rebated funds will be forfeited.
The customer services are both transparent and accessible, with a variety of methods to contact staff:
- Email: email@example.com
- Twitter: @smarkets
- Post: 26 Finsbury Square, London, EC2A 1DS, United Kingdom
- Telephone: +44 207 617 7413
There are only a handful of ways for customers to deposit into their Smarkets exchange account, albeit all of the most popular payment solutions are covered.
A relatively new betting firm such as Smarkets are always going to be in a catch 22 situation – they ideally want to offer their customers as many markets as possible, but they also want to offer events which demonstrate strong liquidity. Unfortunately, for a new player in the market, the more matches, sports and betting options, the less density of money on each betting event. Even with just ten sports, there is a real concentration of money for the top football matches, and not much money around elsewhere.
In their favour, Smarkets do offer a very attractive flat rate of 2% commission on winnings, which is pretty much unrivalled. Their website is also a slick and they are able to offer their services to customers from the UK and abroad (having obtained a UK licence to comply with new regulations). Over the coming years, Smarkets is likely to grow organically, and with that, should come improved liquidity on the smaller markets. For now, football bettors who like concentrating on the top leagues, will have access to very competitive price, fair liquidity, and market leading commission.
Smarkets was founded in the UK, back in 2008 and is the world's second largest betting exchange (yes other exchanges do exist besides the mothership, Betfair). I was only using the Betfair Exchange to place my lay bets from early 2012 and it wasn't until last year that I gave Smarkets a go.
And boy was I pleasantly surprised!
In this Smarkets review I will be going through the features on offer, their pros and cons and how they compare against others.
I'm not saying Smarkets is better, however, what I am saying is that you should absolutely create an account and have it in your betting exchange arsenal. If you need convincing, below are my main reasons as to why you should start using them alongside Betfair:
2% Commission Rate
The main talking point in the Smarkets vs Betfair debate is of course the difference in commission rates. With Smarkets offering a much lower flat-rate commission of just 2% on all winning bets, compared to Betfair's 5%.
You may be thinking that 3% isn't much difference in the scheme of things, however this is a -60% difference. Which if you then break down per qualifying loss will show you just how much of a difference it makes financially.
For example, if you find a 2.4 back bet with lay odds of 2.5 then you'll be looking at a qualifying loss of £3.47 from a £50 trigger bet, using Betfair Exchange. Compare this to using Smarkets for the same bet, you will have a qualifying loss of £2.59 - a difference of £0.88, which soon adds up if you're regularly matched betting.
Matched betting is all about keeping the qualifying losses on our bets as low as possible, and maximizing the profit extracted from our free bets. Our choice of exchange can play a big part in this. Although I always knew about the lower commission rate of Smarkets, I just thought the reduced commission rate was irrelevant if the liquidity meant there were no close matches available (causing higher lay odds). Which in turn would end up costing more money than the lower commission saved. However the liquidity has improved massively, to the point where the majority of lay bets on big events are the same price as they are on Betfair. This means that, combined with the lower commission, you're saving money by simply choosing to place your lay bet with Smarkets instead of Betfair, and are going to achieve higher profits.
New Betting Markets
Smarkets are serious when it comes to providing the best service for matched bettors. As such they have added lots of new markets to their football betting exchanges, to give us matched bettors more options for the varying bookmaker promotions. They've added lots of markets, like First Goalscorer, Asian Handicap market and a BTTS + Match Result market.
They don't currently offer the same array of markets as Betfair, but they are adding new markets and moving in the right direction and could produce a potential alternative for these markets.
Smart Lay Betting
Smarkets use clever technology that helps relieve frustrations when placing your lay bet. All too often I would calculate the lay bet stake only for the odds to have dropped on the exchange, leaving me to calculate the lay bet stake again.
Smart lay betting technology makes this a thing of the past as they'll automatically change the stake to compensate for any change in price once you've clicked 'bet' - using something called 'Best Price Execution'.
Best price execution will only ever increase your profits, never will it increase your potential loss, as the bet quantity will stay the same (stake * odds). When best price execution is actioned it simply increases the stake (stake = bet quantity / improved odds), but with better odds the liability is not increased.
Smarkets have recently launched (a possibly improved version of cash out), which they call 'trade out'. Cash out allows you to cash out your exchange bets at any point, on Betfair however, you can only cash out of an entire event market. With the new Smarkets trade out you can now cash out a single bet within a market.
This is great for any matched betting mistakes. If you place the wrong lay bet amount or the wrong lay bet etc, you can simply 'trade out' and start over again.
Industry Leading Challenger
Smarkets genuinely poses great, healthy competition for Betfair. It's state of the art digital technology alongside it's easy to navigate design make for a fantastic user experience.
The site can be accessed from all devices; desktop, mobile and tablet. They have also recently launched both Android and Apple apps, to give you full access to the best Smarkets features whilst you're on the go...or whilst you're subtly placing your smarkets bets at your office desk
Smarkets £10 Refund Offer
Smarkets are currently offering a very attractive £10 refund on your first losing bet with them. This is an easy way to make £10 risk-free profit, and will mean you have increased flexibility in where to lay your bets.
As mentioned earlier, I wouldn't go as far as to say it's a better alternative to Betfair. But I would strongly recommend having an account, to allow greater flexibility from your exchange betting. As you become more experienced, you choose to keep some money in both Betfair and Smarkets, so that you can quickly place lay bets with either exchange, depending on which is offering a better match.
They are exchange focused, so they put everything they've got into making it as seamless and enjoyable for the user as possible. This comes at the expense of a sportsbook or casino offering, which depending on what you like, is either a good thing or a bad thing. They have the right attitude and I can see them competing increasingly closely with the Betfair Exchange.
Low commission rate of 2%
Really easy to navigate and place bets
Smart lay technology
No distractions of sportsbook or casino games etc
Easy sign up bonus
(Slightly) Lower liquidity than Betfair
The following is an in-depth review of the betting agency Smarkets. This review covers the history, features, interface, sports & racing markets, upsides and downsides of the service.
This review is part of our comprehensive Bookmaker Reviews section. The Betting Agencies page provides information and reviews for other sports betting agencies that are suitable for Australians. The following details are updated periodically to keep them up to date.
History, Location and Licence
Smarkets is a betting exchange that is headquartered in London and licensed in Malta. The service was launched in 2008 with the aim of creating a more advanced trading platform than Betfair. Like all competing betting exchanges, Smarkets doesn’t offer as much liquidity as Betfair, however it undercuts its larger rival by charging a flat 2% commission from users’ net winnings. In contrast, the base commission rate with Betfair is 5% with reduced commissions applying for regular users.1
Smarkets markets itself towards professional sports punters, traders and arbitrage bettors. In 2010 Smarkets was named one of 10 European start-ups to watch by the Wall Street Journal.2 In 2012 Smarkets was ranked 33rd in the UK Startups 100 awards.3
Services and Features
|Deposit options||Credit card, bank wire (overseas), Skrill/Moneybookers (which supports POLi) and Neteller. When using international bookmakers we recommend you use Skrill/Moneybookers.|
|Withdrawal options||Bank wire, Skrill/Moneybookers, Neteller|
|Transaction fees||2.5% for credit card deposits, £10/€12 for withdrawals by international bank transfer|
|Currencies||AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, NOK, PLN, SEK, USD|
|Odds formats||Decimal, American, Fractional, Percent|
|Minimum deposit||$10 for credit card, $30 for Neteller, $10 for Skrill|
|Minimum withdrawal||$10 for credit card, $30 for Neteller, $10 for Skrill|
|Maximum bet/payout||Smarkets is an exchange rather than a bookmaker so your limits are dependent on the level of market activity.|
|Deposit turnover requirements||1x, although a refund of a deposit may be considered at Smarkets’ discretion|
|Bonus credit turnover requirements||1x|
|Bookmaker margin||Smarkets charges a 2% commission on net winnings. As with any exchange the effective margin is dependent on the level of member participation in the market, called the liquidity. The margins are higher in less active markets.|
|Forbidden Jurisdictions||France, Turkey and the United States|
|Mobile betting||A mobile version of the site is available|
|Identity checks||Smarkets retains the right to examine and confirm the identity of its account holders. Smarkets is required to authenticate the identity of any member attempting to withdraw an amount over 1,750 pounds sterling or the equivalent in any other currency. Smarkets may also choose to authenticate the identity of a member withdrawing smaller amounts. If required you can use an online form on their website to upload one copy of the following documents from each category:
1. A government-issued form of photographic identification:
– Driving licence with photo
– National Identity Card
– Firearms or shotgun licence
2. A Proof of your address:
– Residency certificate issued by a government authority
– Bank, Building Society or Credit Union statement dated within the last 3 months
– Utility bill dated within the last 3 months
– Local authority tax bill/council tax bill for current year
|Dormant account fees||If you don’t log in for a period of 24 months an administrative fee equivalent to 5.00 GBP/Euro per month will be charged. Smarkets will notify you that an inactive account fee will be charged 30 days prior to any fees being incurred.|
|Support||Email, phone (UK number)|
Betting Interface and Website Layout
The Smarkets interface employs a familiar three-column layout, with a sports navigation panel on the left, markets & odds in the centre and active bets on the right.
The navigation menu lists the available sports that are in season. When you select a sport the associated subcategories are displayed dynamically to the right in a new column, which shifts the rest of the website to the right. As you navigate through the levels of sub categories (e.g. Football -> UK -> Championship -> Blackburn vs. Cardiff), each new sub category appears to the right as a new column. This novel arrangement is clean and intuitive, with the new sub categories still displayed if you move your cursor away from the navigation menu.
For football you can select ‘Coupons’ to view all upcoming fixtures for a particular league. For most other sports you can only view the odds for one fixture at a time, however all markets for that fixture are displayed on the same page.
In the odds and markets column, Smarkets uses the terms ‘For’ and ‘Against’ as opposed to the ‘Back’ and ‘Lay’ terminology employed by Betfair. The best (highest) available ‘For’ odds are displayed in green while the best (lowest) available ‘Against’ odds are displayed in red. The next best available For and Against odds are displayed to the left and right of the best For & Against odds, respectively. Below every set of odds is a currency amount denoting how much is available to match at those odds. The odds dynamically flash to indicate odds movements.
The right column defaults to displaying your active bets for the relevant market, however you can change this to display all of your active bets, with links that take you back to those markets.
Overall, we really like the interface. It has a clean, crisp design and the functionality is highly intuitive for those who are familiar with betting exchanges.
At the time of writing the market selections were horse racing, football, tennis, American football, baseball, cricket, golf, politics and current affairs, however this only represents the sports that were in season at the time of review.
The market depth is good for English football, although liquidity drops as you descend through the lower divisions. Liquidity is poor for the other football leagues and most other sports.
At the time of review we couldn’t find any futures markets. This is a shame because exchange betting lends itself perfectly to futures betting due to the ability to hedge your bets (thus freeing up funds) as the season progresses.
Due to the low 2% commissions, Smarkets does compete well with Betfair on popular head-to-head markets (see comparison below), however Betfair offers better value on less popular events.
Events at selected UK venues are covered. Win and Place markets are offered.
Live Sports Betting
Unlike Australian licensed bookmakers and exchanges 4, Smarkets does support online in-play wagering on selected events, however the level of market participation is generally low from our experience. With that being said, there is enough liquidity to wager in-play on the popular events. The live betting interface is the same as that for the rest of the site, but with an eight second delay before your wager is accepted. If you are looking for a betting exchange that supports online in-play betting for Australians, you should also consider WBX.
- Low minimum stake of $0.05
- Online in-play (live) betting in an exchange environment
- Excellent betting interface
- Low 2% commissions
- No premium charges for winning punters
- Your betting history can be downloaded as a .csv file
- A public odds XML feed is available
- Can set deposit and loss limits
- Self-exclusion feature to block your access for six months
- Less liquidity than Betfair, especially on non-football markets
- Limited markets for sports other than football, cricket, tennis and the main US codes (NBA, NFL, MLB, NHL)
- Not licensed in Australia
- Online in-play betting liquidity not as deep as WBX
- Administration fees charged on inactive accounts
- API was still in development at the time of review
Smarkets has become the latest betting exchange to offer Australian dollar accounts. Like most competitors of Betfair, Smarkets doesn’t offer as much liquidity, however it does charge lower commissions of 2% compared to the base rate of 5% with Betfair. Another major upside is because it isn’t licensed in Australia, Smarkets does offer online in-play wagering, which works really well in an exchange environment due to the ability to bet directly against previous selections. For popular events we found Smarkets to compare favourably against Betfair due to the lower commissions, however with most other markets Betfair offers better value. The range of sports covered is currently very modest so Smarkets is more of a niche exchange with a focus on football and to a lesser extent, cricket and tennis. Smarkets isn’t yet big enough to work as a primary betting membership, but for fans of football betting it would work well within a portfolio of account memberships due to its competitive odds and commissions on popular matches. Fans of the AFL & NRL should look elsewhere, however those who wager on football should definitely check Smarkets out.
A betting exchange is different from a traditional bookmaker in a couple of ways. Punters on a betting exchange are betting against one another and not against the bookmaker. This removes risk from the bookmaker and pits the punters against the wagers of one another. They also allow punters to back and lay wagers against one another.
Smarkets is commonly seen as one of the top betting exchanges in the industry. They only claim a 2% commission on winning wagers, which is lower than many of their competitors, such as Betfair. Betfair takes a 5% commission on winning wagers. This sets them apart from the beginning.
They offer odds on all the best markets and they also offer some that are considered to be novelties, like world politics and entertainment. They deal with odds that are going on at the current time. They do not deal with upcoming events or things that are going to be happening in the future. They have employed a simplified system that allows them to provide a great service to their customers.
Readers will find out why Smarkets is looked at as one of the best betting exchanges on the web.
Sports Betting Welcome Offer & Promotions
Smarkets is a simple and clean-cut site in that they do not really deal with bonuses and promotions other than their welcome offer. The small, flat rate commission that they gain is the way they set themselves apart from other betting exchange sites. Their welcome bonus is minimal, but it is a great way to get punters on the site and interacting with all that Smarkets has to offer.
Although Smarkets doesn’t pride itself in promotions and free bets, they do offer brand new punters a $10 welcome bonus. This bonus requires a $20 first deposit made via card or direct bank transfer. At least $20 worth of bets will need to be made in a single bet or a combination of bets.
The bonus funds will not be available to those who use prepaid or e-wallet cards like Skrill or PayPal. This $10 will be added to the account after the first loss. It can be viewed as a cashback offer for a punter’s first loss on the site.
The Product, Sports, and Markets
There is no lack of markets and options at Smarkets. They cover all of the usual markets and many of the unique ones as well. American football, Football, horse racing, tennis, baseball, basketball, rugby, motorsports, cricket, and boxing. These are not the only markets that they offer for punters to get in on.
They even have markets for punters to get in on that are unconventional. They have betting odds for politics including UK, World, United States, and European politics. They have current affairs odds on the Managing Director of the IMF and the next Governor of the Bank of England. Smarkets even has odds for current affairs like the BBC Sports Personality of the Year 2019.
Smarkets makes their In-play betting odds very accessible for punters. These odds are found on the left-hand menu on the home page. They offer services for in-play betting in many of the major sports like cricket, football, baseball, and tennis. It is not the most extensive in-play options as we have found at other sites, but the standard markets are there.
One of the nice features of their in-play betting service is the Instant Match feature. Punters are able to take a bet at the requested price without having to wait for the counter to hit zero. This can make the in-play service seamless and easy for punters.
Smarkets Latest Promotions
Many punters would argue that the betting exchange market has mostly been dominated by Betfair since the peer to peer betting activity became popular back in the late 1990s. Betting exchanges can be hugely profitable, as we’ve seen over time, and Smarkets has been one betting exchange to stand the test of time and provide exciting and profitable trading since 2008.
With Smarkets, it’s not a case of “same old, same old” at all. In fact, this is one top-notch betting exchanges that many punters prefer to do business with and considering the welcome bonus and flat commission, it’s easy enough to see why.
The Smarkets Betting Exchange Welcome Bonus
Let’s start with Smarkets warm welcome to new punters. Firstly, the bad news is that this exchange doesn’t offer free bets. The good news is that if you open a new account today you can claim a risk-free $/€10 bet when you make a minimum deposit of just $/€20.
The terms and conditions for the bonus are straight forward. Simply make your minimum deposit by bank transfer or card. Your first losing bet is then refunded up to the amount of $/€10. Your bonus expires after three months.
While this may not sound like a big deal, it’s worth keeping in mind that Smarkets offers an industry-low commission. In fact, it’s less than half of what other exchanges offer. So, remember that when you’re weighing up Smarkets against other sportsbooks and betting exchanges.
Smarkets Free Bet
Start trading with Smarkets betting exchange today and you’ll get a $/€10 free bet along with low commissions of just 2% on your winnings.
This welcome offer is available to new Smarkets customers who open an account and make a low deposit of just $/€20 or more. The exchange will give you a 100% rebate on any losses up to the amount of $/€10.
Smarkets is a peer to peer betting exchange, which means the odds on most sports markets at Smarkets are a little higher than those offered by traditional fixed odds bookies. That means as a punter you can capitalise on your fancies and lockout profit by laying and backing selections.
What’s more, the low 2% commission fee means any extra profits you make aren’t eaten up by the betting exchange.
How to Claim Free Bets at Smarkets
Claiming your $/€10 welcome bonus at Smarkets is super-simple.
- Follow our step by step guide on how to open a Smarkets account
- Make your first deposit of at least $/€20
- You’ll receive a refund of up to $/€10 on your first loss – automatically!
Smarkets betting exchange offers an advanced trading platform, making it a prime destination for all your sports, current events and politics trading. There’s everything from Rugby and Football to Golf, Cricket, Motorsports, Baseball and everything in between.
Best of all, commission rates seem to be the lowest in the industry, so you’ll want to grab your Smarkets free bets right away!
Smarkets Free Bets Terms and Conditions
While your loss of up to $/€10 is refunded immediately, you must use your refund within 3 months of it being issued. After 3 months, any remaining rebated funds will be forfeited.
That’s it as far as offers and promotions go at Smarkets. It may seem sparse, but the exchange’s commitment to providing exceptional sports trading experiences puts them in the first place when it comes to investing your money.
Odds and Markets at Smarkets
How much commission is taken from your winnings is a big deal when it comes to betting exchanges, and Smarkets’ low 2% rate is one of the lowest around.
Besides the usual suspects like football and horse racing, Smarkets provides exchange betting for baseball, golf, motorsports, tennis, cricket, politics, current affairs and a whole lot more.
As a peer to peer exchange, the odds on all the markets at Smarkets exceed those offered by traditional sportsbooks and that means you can capitalise on your favourites and lockout a decent profit.
Sign up to Smarkets today and see for yourself!
More Promotions at Smarkets
Smarkets differ to many other online betting sites in that they don’t really deal with promotions. You won’t find any other promotions on this site, like free bets or money back promos. Smarket’s main selling point is their meagre 2% flat rate commission.
Sign Up to Smarkets Today
If you fancy becoming the bookie, it’s time to try out Smarkets. Follow our step by step sign up process, make your first deposit and you’ll automatically receive your welcome bonus following your first loss.
Smarkets is a safe and fair betting exchange platform. The site meets every licensing requirement expected of them and is regulated by the UK Gambling Commission as well as the Malta Gaming Authority.
The site continuously advocates responsible gambling and there is always customer support on hand should you need help with anything.
Smarkets is a big player in the betting exchange industry and what it lacks in promotions it more than makes up for in sports betting experience.
Smarkets – How to Open an Account
Smarkets is not your everyday online bookie. It’s better described as a betting exchange and one that is quickly growing in popularity. The site offers great odds on sports in decimal format. So, if you like using fractions, it takes a little getting used to.
One thing that’s particularly fun about using a betting exchange like Smarkets is that you get to set your own odds on your preferred events. That’s because the platform makes use of a peer-to-peer system. So, as long as another punter is prepared to take those odds, you can place your bet and immerse yourself in the exciting practice of betting at betting exchanges.
Smarkets is an easy-to-use site. From creating an account and funding it to cashing in on your liquidity, the entire betting exchange experience is flawless.
If you’re ready to hit the ground running, make sure you check out our full Smarkets review and then follow this easy step-by-step guide to open your new account.
How to Open a Smarkets Account
Step 1 – Create An Account
Head over to the Smarkets main home page and click on “Create an Account” in the top right-hand corner of your screen.
Step 2 – Enter Your Details
Enter your account details, including:
- Confirm your password
- Date of birth
- Preferred currency
- Referral/promotion code
Step 3 – Enter Your Personal Details
Enter your personal details, including:
- First name
- Phone number
Step 4 – Make Your First Deposit
Finally, you’ll be asked to make your first deposit at Smarkets. You can also turn on deposit limits at this point, or you can skip this step and come back to it later.
How to Make Your First Deposit at Smarkets
Making a deposit at this betting exchange is quick and easy, so you’ll be able to start betting in no time at all.
Here’s what you need to do:
- Click on the Deposit option. It’s the green rectangle on the right-hand of your screen.
- Choose your preferred payment method for making a deposit. Smarkets accepts bank transfer, e-wallets, credit and debit cards.
- Enter the amount you’d like to deposit. To qualify for the welcome bonus, you need to make a minimum deposit of $/€
Claim your $/€10 bonus and start backing your favourite matches, players, teams and games! Smarkets also allows you to trade current affairs and politics and offers an exceptional industry-low flat commission of just 2%.
There is no live streaming of events on Smarkets.
Punters are not going to find many other features on Smarkets. They are all about what is going on right now and that is it. They don’t offer future events for punters to look at. One of the things that many punters may not like is that they do not offer stats for the odds of the event that they cover. This can be a negative for many. They are a sportsbook that gives punters the odds and they can place their bets.
They do not have a casino section for punters to enjoy. They are strictly a sportsbook and that is it.
Mobile & App
Smarkets released a mobile app in 2017 for Android and iOS devices. Prior to this, the site itself was mobile-friendly no matter what device a user was on. It is simple for users to switch between the full site and the mobile-friendly layout. They make it very easy for users to switch from device to device and there is no issue with the functionality or the look of the site.
Licensing and Regulation
Smarkets carries licenses that cover all of the punters within the geographical areas where they conduct their business. They are licensed by the Malta Gaming Authority, the UK Gambling Commission, and the Revenue Commissioners National Excise License Office. Customers are covered no matter where they are.
Due to their licensing with the MGA and the UKGC, the countries that are restricted include Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, the United States, Italy, Portugal, Russia, Belarus, Ukraine, and Kazakhstan.
Smarkets takes the protection of its customers’ funds very seriously. They utilize, both, Transport Layer Security and Secure Socket Layer. They also make sure to keep their customers’ funds in accounts that are separate from their business accounts for protective measures.
Smarkets makes its customer support staff very accessible for their customers. They work hard to make sure that they offer a service that their customers are satisfied with and will continue to come back and use. They have an active social media presence on Facebook and Twitter for customers to feel in touch with what is going on at Smarkets. They are also available to handle any and all questions and concerns via email, live chat, phone, post, and Twitter. Email: firstname.lastname@example.org
- Live Chat: Available to users who are logged in 24 hours a day, 7 days a week
- Twitter: @SmarketsTech
- Post: 1 Commodity Quay St. Katharine Docks London E1W 1AZ United Kingdom
- Phone: +44 207 617 7413 from 9 am to Midnight
They provide customers with plenty of options for their deposits and withdrawals. They can utilize bank transfers, Visa or Mastercard debit/credit cards, Maestro, Skrill, and Neteller for both.
For deposits, there is a $10 minimum when using credit or debit cards and a $20 minimum for all other methods. There is no fee charged to the customer for making a deposit. Once a deposit is made, the funds can be used immediately to begin placing wagers.
Withdrawals can be made with the same methods as the deposits, but there are differing wait times depending on the method. There is a handling fee that is charged to withdrawals using credit and debit cards. It will take between 1 and 6 working days for funds to transfer to the customer’s account. Bank transfers can take as long as 10 days to be transferred.
Smarkets was founded in 2008 in London by a team of over 30 experienced software engineers and financial advisors. They set out to create a site that was going to be one of the premier sportsbook betting exchanges in the industry. Jason Trost, the founder, and CEO was an equities trader until he realized the impact he could have in this industry. Trost knew that his team of experts could use their financial expertise and knowledge of trading principles to make this site incredibly successful and popular.
He understood how the system worked and he realized that he could provide punters with higher returns on their bets while reducing the risk for his bookmaking business. He saw the opportunity of creating the Smarkets betting exchange. He created a site that just took a 2% commission from all winnings.
Smarkets is an independent company (not publicly listed or traded) that has reported yearly revenues in the range of around $35 million a year. They employ just over 100 people.
Smarkets has its hands in many areas of the sports world. They have a deal in place with the Queens Park Rangers as well as a horseracing sponsorship with the Jockey Club. They want their brand to be visible to everyone. They want their brand to be a household name through these major sponsorships.
Smarkets has created a betting exchange that any punter would love to be a part of. They cover all of the major sports that a customer could want to wager on as well as some sports that may not be so mainstream. They also include some fun categories for punters including politics and tv and entertainment.
Their website is incredibly easy to navigate, and customers can easily find anything that they are looking for. They understand the importance of appealing to mobile users with a site that is mobile-friendly as well as an app for Android and iOS users.
Although Smarkets is a great betting exchange, they are lacking in a couple of areas. They are limited in their in-play options. They also do not provide players with any statistical or graphical information to aid them in their wagering decisions.
They are a straightforward site that provides their players with great odds and a site that is easy to navigate. They have become one of the top betting exchanges in the industry.
Some of you might be wondering how come we put Smarkets as number 1 betting exchange instead of Betfair. Smarkets now have almost the same liability as Betfair on major events, especially in football, major USA sports and horse racing. Smarkets has the same if not even better odds on major events. Smarkets offers more sports and markets every time we enter their site. Finally, Smarkets commission is ONLY 2% flat rate, compared to Betfair's 5% which makes them so much more appealing for customers that plan to use betting exchange in the long term. This means that on every 100 pounds won on Smarkets, you get 3 pounds more than on Betfair. If you become an expert in online betting and your yearly rollover on betting exchange is counted in tens of thousand of pounds or even hundreds of thousands, then these 3% of extra cash becomes serious money. See bellow detailed Smarkets review.
Smarkets Restricted Countries, Banking and Security
Smarkets holds 2 major betting licenses, UK and Malta license. This means that they accept customers from most countries. Restricted countries are: Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, the United States, Italy, Portugal, Russia, Belarus, Ukraine and Kazakhstan.
Smarkets don't charge fees for deposits or withdrawals unless you use Bank Transfer as withdrawal method. Transfers are usually very fast due to the fact that on betting exchanges you don't make money from “The House”, but from other betting exchange users. Therefore, betting exchanges will not double check your withdrawals for days, deny payments, stall you until you continue spending your money or try similar tricks.
Smarkets Sports Betting Bonuses
Betting exchanges in general don't offer welcome bonuses at all or in similar amounts like bookmakers do. Find out which bookmakers offer biggest sport betting bonuses.
Smarkets however offers a simple 10 pounds welcome bonus that comes once you register and deposit at least 20 pounds. So, their welcome bonus comes in a form of automatic £10 free bet that can be used on any market you want. Check more detailed explanation how to use their Welcome Free Bet.
Smarkets Review - Sportsbook
It's not common that we review betting interface of any bookmaker due to the fact that most bookmakers and betting exchanges have similar interfaces (in terms of functionality, design, features and usability). But, we are really impressed how Smarkets interface is simple and functional. It allows you to place bet within a second, which can be important if you are trading horse racing odds. Price and liability are updated automatically as soon as changes occur and browsing though menus is made very fast and easy to use. This gives them a small but important advantage over other betting exchanges.
- Smarkets Pre-match
Pre-match and live odds often come near to perfect 100% on most major events. This means that once, you in calculate 2% margin, you get the best possible price on planet. Number of pre-match offered sports and markets increases as Smarkets gets more popular. Major sports are Football, Tennis and Horse Racing where liability (volume able to be matched by other punters) is great. Major USA events also attract a lot of money.
- Smarkets Live
Live betting in Smarkets is developing nicely, meaning that ever more events are offered in live. Odds often go up to 100% even on minor football. Stakes that can be matched are up to 10 K pounds per bet. Liability on Smarkets is comparable to Betfair and can sometimes even exceed in total volume.
Smarkets Sportsbook Features
There aren't many special features on this betting exchange. Smarkets is made purely for sports trading. But one feature worth of mentioning is their Betting education blog with articles that can teach you how to use betting exchange in the right way step by step.
Smarkets Review Conclusion
Smarkets is highly recommended betting exchange for professional sports traders. Unfortunately, there you can not enjoy watching live stream or using cashout option, instead, they give best odds available and low commission rate incorporated in flawless interface. From our experience it is the ultimate betting exchange currently.
When it comes to matched betting, you will most likely want to choose between either Smarkets or Betfair or Matchbook as your exchange. This article is a Smarkets Review to help you learn about what they have to offer.
Smarkets are a slightly newer player than Betfair and Matchbook in the betting exchange world, but they've quickly risen to prominence and taken a big market share. They are based in London and were founded in 2008.
They began (in 2008) as a small group of investors and developers who saw the potential to apply financial trading principles to the online sports world. Currently based in London but with offices in Malta and LA also, they have grand plans to shake up the industry with a mission to provide the the lowest commission and therefore fairest odds in the world.
When evaluating an exchange that is suitable for matched betting, we generally look at three main areas - reliability, liquidity, usability, market depth and commission rate.
Market Depth and Liquidity
Smarkets have very good liquidity on the majority of their markets, so you won't usually struggle to get your bets matched unless you're betting on some very obscure events. In terms of big matches, the liquidity is great and more than sufficient for matched betting.
They also have very good market coverage, with bets available on all major events for football, horse racing, golf, tennis, cricket and basketball. They've made major steps forward over recent years in improving their market coverage further, increasingly offering additional markets like Correct Score, Over/Under and Both Teams to Score, along with Match Odds. We're hearing that this range of markets is likely to increase very soon and will comparable with Betfair.
Smarkets have had some hiccups in the past with their reliability (as have most of the exchanges). Generally, the website is stable. The reliability issues, which unfortunately tend to happen at the busiest times e.g Saturday afternoon, are becoming less and less frequent and the are clearly investing a lot of time, effort and money in making sure that the site stays up at all times. You just need to take a look at the Smarkets Tech Twitter feed to see how uncommon site downtime is nowadays.
Smarkets charge a flat 2% commission rate on your net profits from bets using the exchange. This is extremely competitive, especially when you compare it to the commission charged by most other exchanges. This is the primary reason that you'll want Smarkets to be one of your two core betting exchanges; you can save a lot of money by using them in the right situations. Their main selling point and advantage is their low commission rate.
Smarkets website is very easy to navigate and use. The search bar at the top enables you to quickly and easily find the particular betting market that you're looking for, and the menu on the left makes it simple to navigate through specific sports, leagues and teams. They recently launched a new site design and mobile app, both are very easy user-friendly. What we especially like from Smarkets is the increased focus on personalising the customer experience. they are using machine learning and other data led methods to recommend events, teams and sports which are relevant.
Much like Betfair, Smarkets is a key tool in the arsenal of any matched bettor. They are the preferred choice of many experienced matched bettors due to the low commission rate and most importantly they are improving a lot. Innovation and technical advancements create a more competitive industry and it drives the companies to improve as well, ultimately it benefits the customer.
We recommend that new matched bettors start by using Betfair, due to its reliability and usability, then when you are comfortable with using an exchange, move on to Smarkets or Matchbook in order to maximise your profits. Often that choice comes down to personal preference on the site itself, or the commission rate at that given time. At the time of writing, Smarkets have the lowest commission (disregarding any special offers), so that's where you would save the most money.