Smarkets

About Smarkets

Smarkets is a distinguished online platform primarily recognized as a betting exchange, offering users the ability to trade bets on sports and other events rather than providing a traditional sportsbook or casino experience. Founded in 2008 by Jason Trost and Hunter Morris, Smarkets emerged from a vision to integrate financial trading principles into the betting industry, creating a peer-to-peer system that challenges conventional bookmakers. Headquartered in London, UK, the platform has steadily built a reputation as a reliable and innovative operator within the betting exchange market. It is licensed and regulated by two reputable authorities: the UK Gambling Commission and the Malta Gaming Authority (MGA/CRP/162/2008, issued May 12, 2009), ensuring compliance with strict standards of fairness and security. While Smarkets focuses exclusively on its betting exchange model and does not offer casino games, its market reputation is bolstered by its competitive odds, low commission rates, and growing liquidity, making it a compelling choice for serious bettors.

Offers and Bonuses

Smarkets provides a modest yet appealing range of bonuses, primarily targeting new users while maintaining a focus on its core exchange functionality. Below is a detailed breakdown of its current offerings as of March 2025:

• Welcome Offer – 0% Commission for 60 Days: New users can sign up using the code “COMMFREE” to enjoy a 0% commission rate on all bets settled within 60 days of their first deposit. A minimum deposit of £10 via debit card or Instant Banking is required, with other payment methods excluded. This offer provides significant value by eliminating the standard 2% commission, allowing users to maximize returns during the initial period.
• Welcome Offer Alternative – £20 Cash Refund: Alternatively, new users can use the code “SMK20” to receive a £20 cash refund on losses after a £10 minimum deposit. This refund applies to net losses within the first week and is credited as cash, not bonus funds, offering flexibility without restrictive wagering requirements.
• Occasional Promotions: Smarkets does not heavily rely on ongoing promotions for active users, focusing instead on competitive odds and low commissions. However, periodic offers tied to major sports events (e.g., Premier League matches or political elections) may appear, such as risk-free bets or enhanced odds, though these are not as frequent as with traditional bookmakers.

Notably, Smarkets does not offer casino-specific bonuses, as it lacks a casino section, and its promotional strategy prioritizes transparency over extensive incentives.

Sports Betting

Smarkets excels in its sports betting exchange, covering a broad spectrum of sports and events. Users can back or lay bets on popular sports such as football, horse racing, tennis, basketball, cricket, rugby, and boxing, alongside niche options like cycling, darts, and handball. The platform also includes markets for current affairs (e.g., political outcomes like the next UK Prime Minister) and entertainment (e.g., BBC Sports Personality of the Year), adding variety beyond traditional sports. While eSports and virtual sports are not currently prominent, the depth of markets for major sports is impressive, offering options like match winners, correct scores, over/under goals, and handicaps. Odds are determined by user activity, often resulting in better value than fixed-odds bookmakers, though liquidity can vary, particularly for less popular events.

Casino and Live Casino

Unlike many competitors, Smarkets does not feature a casino or live casino section. The platform is dedicated solely to its betting exchange model, meaning there are no slots, table games (e.g., blackjack, roulette), or live dealer experiences available. This focus allows Smarkets to refine its exchange offerings but may disappoint users seeking a hybrid betting and gaming experience. For those interested in casino games, alternative operators like Bet365 or William Hill would be more suitable.

Smarkets Pros and Cons

Pros:

• User-friendly navigation across desktop and mobile platforms.
• Extensive market variety, including sports, politics, and entertainment.
• Industry-low 2% commission rate (0% for new users initially), enhancing returns.
• Livestream availability for select events, enhancing in-play betting.
• Robust cash-out feature (Trade Out) for managing bets effectively.

Cons:

• No casino or live casino offerings, limiting its appeal to some users.
• Limited promotional offers for existing customers compared to traditional bookmakers.
• Liquidity can be lower for niche markets, potentially affecting bet matching.
• Restricted in several countries, reducing global accessibility.

Platform and Navigation

The Smarkets website and mobile app are designed with simplicity and efficiency in mind. The desktop interface features a clean layout: a left sidebar lists sports and events, the center displays top markets, and the right side houses account details. The app, available on iOS and Android, mirrors this design with an intuitive interface optimized for mobile use, including fingerprint login and responsive controls. Both platforms are fast-loading and clutter-free, making it easy to locate markets, place bets, or manage positions. While not as visually flashy as some competitors, the focus on functionality ensures a seamless experience for both novice and experienced traders.

Betting Features at Smarkets

Smarkets Odds and Markets

Smarkets’ odds are a standout feature, driven by its peer-to-peer exchange model rather than bookmaker-set margins. This results in odds that are frequently more competitive than those of traditional sportsbooks, often surpassing Betfair’s after accounting for commission (2% vs. Betfair’s 5%). The platform offers a wide range of markets for popular sports like football (e.g., Premier League, Champions League) and horse racing, as well as niche events like political outcomes and award ceremonies. While the variety is robust, liquidity constraints in less popular markets may limit bet sizes. For users prioritizing higher returns and willing to engage in back-and-lay trading, Smarkets is an excellent fit.

Smarkets Accepted Countries

Smarkets operates in numerous countries but is restricted in others due to regulatory or operational limitations. It is fully accessible in the UK, Ireland, Malta, and parts of Europe, with a growing presence in regions where betting exchanges are permitted. However, it is unavailable in the United States, Australia, and several Asian and African nations. Users should verify availability in their region via the Smarkets website before attempting to register.

Payment Methods

Smarkets supports a variety of payment methods for deposits and withdrawals, all processed without transaction fees. Below is a detailed table:

Transactions are secured with SSL encryption and two-factor authentication where applicable, ensuring safety and convenience. Withdrawal processing is notably swift for e-wallets, often within hours, though bank transfers may take longer.

Smarkets Livestream

Smarkets offers a livestream service for select sports, accessible via the “Quick Links” section. Coverage includes football, tennis, basketball, and horse racing, though availability depends on market demand and event rights. To use the livestream, users must have a funded account and an active bet on the event, aligning with industry norms. While not as extensive as some competitors, the service enhances in-play betting by providing real-time visuals alongside dynamic odds.

Smarkets Cash Out

Smarkets’ cash-out feature, branded as “Trade Out,” allows users to secure profits or minimize losses before an event concludes. Available for both pre-game and in-play bets, it supports full and partial cash-out options, depending on market liquidity and matched bets. Activation is straightforward—users click the “Trade Out” button when available—but it requires sufficient market volume and a non-zero exposure. This feature is particularly valuable for live sports betting, offering flexibility across football, tennis, and other supported markets.

How to Register on Smarkets

Registering on Smarkets is a quick and straightforward process, typically completed in under five minutes. Here’s a step-by-step guide:

1. Visit the Site: Navigate to smarkets.com and click “Sign Up.”
2. Enter Details: Provide an email address, create a password, and select a currency (e.g., GBP, EUR).
3. Personal Information: Input your full name, date of birth, and address.
4. Bonus Code (Optional): Enter “COMMFREE” or “SMK20” for the welcome offer if desired.
5. Verification: Submit a government-issued ID (e.g., passport, driver’s license) and proof of address (e.g., utility bill) for identity verification, typically processed within 24 hours.
6. Deposit: Fund your account to start betting.

The process is user-friendly, with clear prompts and no unnecessary complexity, making it accessible to all users.

Affiliate Program

Smarkets operates an affiliate program designed for partners interested in promoting the platform. Affiliates earn commissions based on the betting activity of referred users, with rates tailored to traffic volume and quality. The program provides bespoke marketing assets and transparent reporting, though approval is selective, requiring applicants to demonstrate a credible promotional strategy. Details are available on the Smarkets website under the “Affiliates” section.

Security and Protection at Smarkets

Smarkets prioritizes user security with robust measures, including SSL encryption for data transmission, two-factor authentication for account access, and compliance with GDPR and gambling regulations. Funds are held in segregated accounts, ensuring protection in case of insolvency. The platform’s dual licensing from the UKGC and MGA further reinforces its commitment to a safe and fair betting environment.

Customer Support

Smarkets offers multiple customer support channels:

• Live Chat: Available 24/7 for logged-in users, with near-instant response times.
• Email: Contactable at [email protected], with replies typically within 24 hours.
• Phone: Reachable at +44 207 617 7413 for direct assistance.
• Twitter: Queries can be directed to @SmarketsTech for quick responses.

The support team is professional, knowledgeable, and adept at resolving issues, from account queries to technical difficulties, earning high marks for efficiency.

Conclusion and Overall Rating

Smarkets stands out as a premier betting exchange, offering competitive odds, low commissions, and a streamlined platform that caters to serious bettors and traders. Its lack of a casino section and limited ongoing promotions may deter casual users, but its strengths—intuitive navigation, robust features like Trade Out, and a focus on value—make it a top choice for those prioritizing returns over gimmicks. Compared to rivals like Betfair, Smarkets offers better commission rates and a modern interface, though it lags in liquidity for some markets. It’s ideal for experienced bettors, matched betting enthusiasts, and anyone seeking a no-frills, high-value betting experience. New users should note the initial 0% commission offer and ensure their country is supported. Overall, Smarkets earns a strong 8.5/10 rating for its specialized excellence in the betting exchange niche.