Smarkets Review

Founded in 2008, Smarkets is a UK-based betting exchange that allows its players to place and lay bets against one another in a range of sports markets, as well as other markets such as politics, current affairs, and TV. In this Smarkets review, we’ll investigate whether this betting exchange site is safe for players to use, as well as dig deeper into the company’s product offering, payment methods, bonuses, customer support and security.

🥇 Smarkets	Smarkets
⭐Rating	4.5 / 5.0
⚽ Sports Betting	Huge number of markets
💻 Live Betting	Lots of in-play betting
🎁 Welcome Bonus	Bet £10, Get £30 in Free Bets
⚖️Regulation	–
🏆 Smarkets	Bet Here!

Full T&Cs Apply. 18+ New UK customers only. Min £10/€10 first deposit using Debit Card. Place a bet of £10/€10 at min odds of 1.5 to get £30/€30 in Free Bets. For new Ireland and Malta customers only, place a bet of £10/€10 at min odds of 1.5 to get £40/€40 in Free Bets. Distribution of Free Bets may vary depending on territory. BeGambleAware.org.

In the world of online gambling, you occasionally come across a scam site looking to steal your details or money, however, being regulated by the UK Gambling Commission and Malta Gaming Authority shows that Smarkets certainly isn’t such a scam. Indeed, since it opened its virtual doors to public trading in 2010, it has processed over £5 billion worth of transactions.

Overview of Our Experiences

Smarkets is an online betting exchange that allows its user to place or lay bets against one another in a peer-to-peer system, of which this betting site make a flat 2% commission on net winnings per market.

The majority of bets placed on Smarkets are on sports, with players choosing to bet for or against any outcome, with the bet patterns dictating the price of all events. So, for example, in a football fixture you could bet on Manchester United to win their next match at 1.65 or bet on Manchester United not to win at 2.45 – with all bets placed balanced out by opposing bets.

There are a vast range of sports markets available at Smarkets, covering football, horse racing, boxing, MMA, cricket, golf, rugby and much more. What’s more, there are also a range of bets you can place on any sporting event and it isn’t just the core outcome that you can bet on.

All of Smarkets’ software is developed in-house, and the service is very user friendly and intuitive to use. The company is licensed in the both UK and Malta and offers superb customer support, with live chat available 24/7, as well as by phone between 09:00 and 00:00 (GMT) and also email and even Twitter – all of which means Smarkets are very easy to reach.

Smarkets Check: Scam or Not?

There is no doubt that Smarkets is not a scam. The company is licensed by the UKGC and Malta Gaming Authority, has processed over £5 billion in bets, and has been backed by a consortium of well-known European investors, including Deutsch Telekom, Passion Capital and last.fm chairman Stefan Glaenzer. Furthermore, the company was also listed by The Wall Street Journal as one of 10 European start-ups to watch. What’s more, in April 2017, the Financial Times listed Smarkets as the 25th fastest growing company in Europe.

Smarkets uses a set number of payment methods which can be used for both depositing and withdrawing – none of which transaction charges attached, they are: Visa debit, Solo/Maestro, Eurocard, Neteller, Skrill and Bank Transfer. Such well-known and reputable payment methods also ensure that your payment details are kept safe and secure.

Overview of the Offers from Smarkets

As a peer-to-peer betting exchange, Smarkets has kept a clear sight on the type of products they offer and don’t deviate by offering casino or slot games on their site. Indeed, the majority of markets that players use are sports-related, although they also have the chance to bet on other areas of interest such as politics, current affairs and television.

Sports Betting

Most transactions made on this betting site involve sports, the biggest market of which is football. However, along with The Beautiful Game, users can also trade on horse racing, tennis, basketball, boxing, cricket, darts, golf, handball, ice hockey, MMA, motor sports, rowing, rugby, snooker. Players don’t have to trade on just the outcome of the event though, there are also dozens of sub markets usually available too. With football, for example, users can also place trades on the half-time/full-time, draw no bet, correct sore, both teams to score, number of goals, handicaps, clean sheet markets – amongst many others.

The Website of Smarkets

What’s more, as well as betting on a sporting event ahead of time, users can also make trades in-play – i.e. as the event is taking place. So, for a player watching a football match, they can make observations as the game unfolds to alter their betting strategy, find new markets or lay off bets. There are dozens if not hundreds of events to bet on in each sport at any given time, ranging from huge international competitions to considerably smaller events.

Political Betting

Another extremely popular market at Smarkets is political betting, especially since the arrival of Brexit and Donald Trump. In political markets, users can trade on outcomes involving who will be the next party leader, who will be the next prime minister, when events such as Brexit will take place, or international markets involving the likes of Vladimir Putin and Donald Trump – and when they may or may not leave. Political betting has grown enormously in popularity in recent years, as people look to cash in on their beliefs, with Smarkets providing the perfect arena for people to do so.

Current Affair Betting

As well as political and sports betting, users at Smarkets are also able to bet on other significant topics surrounding current affairs. This can include trading on the outcome of trial, the future rise or fall of share prices for a company. Alternatively, this betting site also regularly offers markets surround television shows – and in particular reality programs – meaning users can trade on events such as EuroVision, X-Factor and Strictly Come Dancing.

Smarkets Bonus: Check Out the Offer

Smarkets offers new customers a £10 bonus based on any losses made on their first five wagers on Premier League matches making this a £50 bonus. This is quite different to other sports betting bonuses on the market but is quite a simple concept. In order to qualify for the £10 bonus, a customer’s first deposit at this operator following registration must be £20 or more. Then, when a player loses their first trade, they will be reimbursed on this loss up to £10 – effectively making it a cashback bonus. So, if a customer signed up to Smarkets but never lost a bet, they would never actually receive their bonus – but considering they won every trade, they should not be too worried. Smarkets will give players this £10 offer for their first 5 match wagers.

The Smarkets bonus is actually one of the most transparent on the market, as it isn’t subject to unfair wagering requirements, although players should note that deposits using Skrill, PayPal, prepaid card or Neteller aren’t eligible for the bonus. What’s more, unused bonuses expire after three months, so players should ensure to use theirs in this time frame. Once the bonus has been awarded to your account, it can be placed on any market (including sports, politics or current affairs) with no limitation on what it can be traded on. While a £10 bonus may sound small in theory, it is actually one of the best value welcome bonuses around as it very easy to turn this into real cash and isn’t weighed down by hefty terms and conditions.

So, to summarise how to claim your bonus: simply sign up to Smarkets, deposit £20 or more, when you have lost your first five trades worth £10 or more, you will be reimbursed with a bonus worth up to £10, you can then use this bonus on any market at any price within three months of being awarded the bonus.

Deposit and Payout at Smarkets

There are seven different payment methods available to Smarkets customers, all of which can be used to make both deposits and withdrawals, they are: Visa debit, Visa Solo/Maestro, Neteller, Skrill and Bank Transfer. When making a deposit all of these methods are processed immediately, with the exception of Bank Transfer which can take from three to five days.

The minimum deposit amount is set at £10 for most payment method, although you need to make a minimum deposit of £20 with Neteller. Withdrawals are processed in one to six business days typically, except for Neteller and Skrill which take just one or two days, while Bank Transfers can take between five and 10 days.

Payment Options of Smarkets
Deposit options:	Visa debit, Solo/Maestro, Neteller, Skrill and Bank Transfer
Minimum deposit :	£10
Fees:	None
Accepted currency:	Pounds
Payout options:	Visa debit, Solo/Maestro, Neteller, Skrill and Bank Transfer

While not offering a vast number of payment methods like other online operators, Smarkets has focussed its attentions on the leading payment providers, although PayPal is a notable absentee. Despite this, Smarkets is very transparent with regards to payment conditions and doesn’t add transaction fees to any payment methods, while the matching £10 deposit minimum amount is also very fair and not widely found at other operators.

Security and Regulation

Boasting both gambling licences from the UK Gambling Commission and the Malta Gaming Authority, it is clear that Smarkets meets the most stringent security requirements. Indeed, in order to get a UKGC licence, this betting site has had to prove it is capable of providing the services it offers, that it ring-fences player funds from operating funds in case of insolvency, that it has no criminal connections, it encourages responsible gambling and in no way targets vulnerable players. Furthermore, it uses Transport Layer Security (TSL) and Secure Socket Layer (SSL) to protect all transactions made on the site.

Customer Support

Smarkets really excels when it comes to customer service, with support on hand 24/7 using the online live chat function. However, players can also speak to a representative in person if they wish by calling +44 207 617 7413 between the hours of 09:00 and 00:00 (GMT). And, if that wasn’t enough, support is also on hand by emailing support@smarkets.com, via Twitter or even by post – although live chat is without a doubt the easiest way to contact Smarkets and is generally on hand to resolve any issues you may be experiencing in just a few stress-free minutes. Under the support tab in the page header too, you’ll find plenty of helpful documents if your new to betting exchanges, with the site providing multiple step-by-step guides on what everything means and how you can get started.

Usability of the Sports Trading Platform

Once you’ve got your head around how online sports trading works (which Smarkets provides plenty of support with) using this betting site is incredibly simple. The user interface of Smarkets is outstanding with its minimalistic and intuitive layout. The sticky header and sidebars also make transitioning between different markets and areas of the website very easy, while the search bar at the top of the screen also aids this superbly.

Smarkets App: Many Different Slots

Unsurprisingly for an innovative company, this operator has pulled no punches when it comes to its mobile offering. The mobile browser version of the Smarkets website is excellent, offering the same extensive range of services on the desktop site, but its dedicated Smarkets app (available on iOS and Android), which it launched in March 2017, provides players with a supreme sports trading system and interface in the palm of the hand. Indeed, the app is a great way to keep tabs of all your trades when you’re on the go and is free to download.

Conclusion: An Easy-to-Use Betting Exchange

Sometimes, it’s better to do one thing really well than spread your resources and master nothing. And Smarkets has certainly got betting exchanges down to a tee. The site is incredibly easy to use and takes a minimal 2% commission on winning markets – which is one of the best rates in the exchange industry. So while it might not have an online casino and the like, what it does do, it does very well.

What’s more, as well as being very user-friendly, it also takes care of its players with an outstanding 24/7 customer support service, very fair bonus conditions and a flawless mobile experience. Plus, with gambling licences from the UK Gambling Commission and the Malta Gaming Authority, there’s no need to worry about Smarkets being a scam site.

Scams.info

Nicholas Crouch

Chief Editor at Scams.info

Our Chief Editor brings with him an extensive background that spans decades. Known for crafting captivating casino and sports betting content, Nicholas began his journey into the world of gambling with football pools, and he now enjoys the excitement of high variance slots and curating engaging content for our site.  

I've learned that when creating gambling content, knowledge offers an edge, but ultimately, it's about the enjoyment and sharing my honest expertise with others.