The British betting exchange Smarkets was founded in 2010 by two young programmers, Jason Trost and Hunter Morris.
The firm, works under licenses from the United Kingdom Gambling Authority, and the Malta Gaming Authority. Unlike the betting exchange Betfair, Smarkets offers commission as low as 2%.
As a betting exchange, all betting is peer-to-peer rather than against a bookmaker; Smarkets allows traders to agree odds amongst themselves. Establishing a reputation for its political betting, Smarkets also offers betting on sports, current affairs and popular culture.
However, the number of markets and liquidity they offer is relatively poor. We have seen a number of companies trying to compete with Betfair, by offering lower commissions. Unfortunately the majority of these do not achieve success.
Smarkets.com operates in English, Portuguese and Swedish. There is also an English version for the US.
Products and apps
Smarkets offers sports betting exchange and live betting options for its customers. The same services are available in mobile mode and in the app. The Smarkets app is available both for Android and iOS devices. The Android device can be found in the website, while the iOS app in the App Store.
– English version
– Mobile version
You can fund deposits in Smarkets via VISA, Mastercard, Maestro, Eurocard and Solo cards, Skrill, Neteller, Turstly, PayPal, Open Banking and bank transfer. The minimum deposit sum is £10 for all methods except for Trustly – £40, bank transfer and PayPal – £20. The maximum limit is £5,000 per day for Skrill and Neteller; £200 per day for Paypal; £100,000 per day for bank transfer. The processing is usually done instantly, except for bank transfer 3-5 business days. The bookmaker hold no commission for deposits.
The withdrawal can be made via VISA, Mastercard, Maestro, Eurocard and Solo cards, Skrill, Neteller, Turstly, PayPal, Open Banking and bank transfer. The minimum withdrawal amount is £10 for all methods except for bank transfer – £20. The maximum limit is £5,500 for PayPal and unlimited for bank transfer. The processing takes 12 hours for Open Banking; 1-6 business days for cards; 1-2 business days for Skrill, Neteller, Trustly and PayPal; 5-10 business days for bank transfer. The bookmaker holds no commission for payouts via all methods except for bank transfer – £10.
Smarkets accept 6 currencies: the British pound, Euro, US dollar, Danish krone, Swedish krona and Norwegian krone.
Smarkets offers 3 standard methods for contacting its support team: call centre, email and live chat. Live chat is available only for registered users. Additionally, Smarkets offers Twitter (@SmarketsTech) and post (1 Commodity Quay, St. Katharine Docks, London, E1W 1AZ, United Kingdom) for contacting them.
Smarkets is licenced and regulated by the UK Gambling Commission under Smarkets (Malta) Limited. The licence number is 39173. The bookmaker company is also licenced by Malta Gaming Authority.
The UK Gambling Commission
Malta Gaming Authority