Smarkets Review: Our Look at the Premium Betting Exchange

Smarkets Welcome Bonus & Offers

We start our Smarkets review by examining the bonuses for UK users. It starts with the welcome bonus, which allows you to bet with 0% commission for 60 days. We will explain how the welcome offer works in the following sections. The operator also offers promotions occasionally, so we recommend existing users check the promotions section regularly.

The Welcome Bonus Explained

Smarkets offers an appealing welcome bonus: 0% commission for the first 60 days when using the code COMMFREE. Smarkets charges a 2% commission rate on bets, so this no-commission offer provides extra value to new members. Make sure you enter the promo code during the registration process, otherwise you will forfeit the offer.

The Smarkets welcome offer for new UK users requires a minimum first deposit of £10 via debit card or Instant Banking. Depositing with any other payment method, such as PayPal or Neteller, will mean you do not qualify for the offer. Our team agree that this offer provides a good deal for newcomers to the site.

How to Get the Welcome Bonus

There is a very simple and easy process to claiming the welcome bonus at Smarkets and it can be summarised in the five points below. Initially you’ll need to enter the promo code COMMFREE during registration. Then, make a deposit of at least £10 using a debit card or Instant Banking. Here is a recap on how to get the welcome offer:

An Overview of the Betting Options

Smarkets has been growing more and more in the past few years, and is now considered one of the finest betting exchanges around. When you bet here you can expect a very wide variety of sports and events to stake on. In fact, you can expect around 22,000 betting options to put a punt on.

Pros and Cons of Smarkets

Based on our extensive review of Smarkets, we have identified the strengths and weaknesses of the site. We have listed them below to help you make an informed decision about whether to choose this operator.

Pros

• Better odds than traditional bookmakers
• Intuitive betting platform on desktop and mobile
• Many markets for sports, politics, and other events

Cons

• Payment method restrictions for the welcome bonus
• Live streaming is not available

Smarkets Sports Markets and Betting Options

Whatever sports you love to bet on, you can be certain this operator will suit your needs. There are over 20 different sports available for you to stake on. Sports are particularly well covered when it comes to horse racing and placing a bet on football – with 500 options routinely available across all the different football leagues.

Additionally, you can expect to be able to bet on sports as diverse as basketball, golf, handball, ice hockey, snooker and volleyball. Esports betting is available also. This is a great range of sports which simply shows how great it is for online betting.

The depth available here is simply staggering and sets Smarkets apart. For those who like contact sports, Smarkets is one of the best boxing betting sites around. In addition, horse racing offers an incredibly large amount of bets that occur every day, leading it to be one of the best horse racing betting sites around.

In-Play Betting and Live Streaming

It is a truth commonly acknowledged that the only thing better than betting before an event is betting on it as it takes place. In this respect, Smarkets is one of the finest online gambling sites with in-play betting, letting you both back and lay bets as they take place.

Sadly however, unlike William Hill, they do not provide live streaming of events as they play out just yet. Live streaming is such a huge part of the betting world now that we are sure this is something they will innovate with in the future.

Smarkets Betting App

To make this user-experience truly integrated with the computing power of your smartphone, we highly recommend downloading the native app for iOS or Android. If you’re not able to do this, launching the web app from your mobile browser is possible.

The Smarkets app is fast, secure, and user-friendly. The mobile app lets you bet on the go with full exchange functionality. You can use the keep bets in-play and trade out features. Finding trades quickly is easy with the unique search tool. Like the website, the app lets you switch between the light or dark interface.

Multiples Betting Options

The only thing better than putting a single bet on an event is being able to place several bets into an accumulator. This is a great way to potentially get a lot of money from a very small stake. Sadly, when you are using the platform, you are unable to use accumulators as of yet.

We find this a significant drawback as accas are a key part of betting culture – especially when bets are being put on at the end of the weekend. If you want to use a betting site that does allow you to place bets in an accumulator, then we would recommend you go ahead and use bet365, arguably one of the best betting site of them all.

Bet & Win Limits

When you are betting online, one of the most important things for you to consider is the bet and win limits. What anyone wants to have is full flexibility with their money, something that loosely translates to, low buy-ins and big pay outs.

Thankfully, users of this operator can expect some of the fairest limits in the business. The absolute minimum you can stake on a bet is only 5p, while the maximum is a whopping £99,999. As for your winnings, they can depend on how much you are willing to bet. We think what they offer here represents some of the best in the business. You really can’t go wrong here.

Smarkets Odds Levels10

Betting exchanges have a one-up on traditional betting sites when it comes to setting odds prices. As you are not betting against one bookmaker but instead against other punters who set the odds, the prices are much lower. In fact, they have a ridiculous upper limit of 99% on all your bets.

This means that you get some of the finest odds in the business – even beating Betway’s odds of 98%. This is because instead of making money from fixing the odds prices, Smarkets charge a 2% commission on all bets on their site. We think this is a fair trade-off considering how high the odds go. Take a look below to see the odds for different sports.

As you can see, the odds vary depending on the sport. Football is particularly good for punters as the odds levels are between 90.35 – 99.68%, which is basically as close to 100% as you can get.

Equally, the odds for horse racing, a sport with more betting options, are also extremely decent, with prices ranging between 94.49 – 98.16%. You can also expect extremely good odds for American football, which go between 96.45 – 98.22%. The variety of values here is simply stunning.

Accepted Payment Methods at Smarkets

Smarkets accepts a diverse assortment of payment methods, including debit cards, eWallets, and online banking transfer services. The only notable omission is the lack of a prepaid option, such as paysafecard. Below, we have collated the specific deposit limits for each payment method and listed the withdrawal timeframes:

As you can see, there are incredibly flexible limits placed on deposits at Smarkets. If you’re looking for reliable and fast delivery method to get funds into your Smarkets betting wallet, the above options will match your needs. Equally, withdrawals can be exercised in a variety of efficient and cost-effective ways including bank transfer, debit cards and a few different eWallets.

Smarkets UK Platform8

When you use the Smarkets platform, you can expect one of the most fluid betting experiences available. The entire website gives off a sleek vibe reminiscent of being on a real trader’s platform. Utilising a combination of blacks, greens and blues, they make the platform as enticing as it is easy to use. There’s an option to switch between dark and light mode. Personally, I find the light mode easier on the eye.

I particularly like the way they have laid out the page. When you first enter the site, you will see the current top markets, showing the day’s biggest events. The home page has a strong emphasis on horse racing and football. If you are looking for a specific sport, click the icon in the top left-hand corner of the page. From there, you will see an a-z list of all the sports.

Smarkets allows you to add favourites, and when you click on the left side of the page, you can easily access all your favourite markets. Additionally, they have a recommendations section with all the best-curated bets in easy alignment. There is a link to the blog at the bottom of the page., where you can read about how they work behind the scenes.

Alongside this, you’ll find the help centre, the betting education centre and contact options. We recommend checking out the betting education page, as it shows you all you need to know to use the exchange, such as explaining what betting odds are and the best strategy to get ahead.

How to Place a Bet

Placing a bet with this operator is easy to do. Before you get started, we should cover a few basics. First of all, create a verified account and log in. Additionally, ensure you have deposited enough money into your betting account to cover your bet. From there, head on over to the homepage.

If you do not know what to bet on, consult the a-z on the left-hand side of the page. From there, scroll down to find your preferred sport. Once you have clicked on your favourite sport, you will see the different markets you can bet on. We recommend picking a league you know something about, as you will know better how it will pan out.

• [1] Make Your Selection(s)Look for the market you want to bet on at Smarkets, there are plenty of different options, be methodical and choose wisely.
• [2] Enter Your Stake AmountEnter the amount of money you would like to bet under the “Your Stake” data entry field. You will also see a live return amount.
• [3] Confirm Your Selection(s)Now you have your market and stake selected the only thing left to do is double check, then confirm your bet by pressing Bet Now!

The next steps in placing a bet are simple. Find the event within the market you are interested in and pick an outcome you believe will happen. Pay attention to the odds as they determine the potential return. From there, you can place the bet. Pick the outcome and enter the amount you want to stake. Please gamble responsibly and only bet money you can afford to lose.

Additional Company Info

Now that you’ve learned about betting with Smarkets, it is time to learn a little extra about the company itself. Keep on reading the sections below in order to learn everything else you should be aware about when dealing with the company.

The Smarkets Business

Smarkets was started in 2008 by two Americans called Jason Trost and Hunter Morris. They aimed to make their site less like a traditional betting platform but instead somewhere you could trade bets. They now enjoy prominence as one of the strongest betting exchanges, employing over 100 customers. More recently, they gained popularity when they partnered with Queen’s Park Rangers as their official betting partners. Learn more about the company below:

The brand is slowly expanding and seeking to perfect its product before scaling up. The leader of the betting exchange industry holds a huge proportion of market capitalisation and has dominated for the past decade. We fully expect Smarkets to continue developing its platform to strengthen its position and command a higher popularity amongst UK punters.

Brilliant Customer Service 8

High-quality customer service represents a key difference between a good operator and a great one. Thankfully, users of the Smarkets site do not have to worry about lousy customer service, as their support is second to none.

If you want to contact Smarkets, you will be glad to know that they are available via email, live chat, phone and even by post. We would recommend following them on all their social media outlets to get the full idea of their latest offers. Their live chat support is available 24/7, meaning you can access their reliable services any time.

Licensing & Security9

Before betting with an operator, you should always check that they are fully regulated under British law. This means having a licence from the UK Gambling Commission. In the case of Smarkets, we have already checked for you and can confirm that they are fully licensed and safe.

In addition, they are audited by the highly respected IBAS (Independent Betting Adjudication Service). They also have a licence from the Malta Gaming Authority. The most important thing about betting is safety. Being able to put money in and out of an account in the full knowledge that it is completely safe is extremely important.

Thankfully, when you use Smarkets, you can rest assured that all your bets are totally secure. The site is encrypted by Let’s Encrypt Authority X3, meaning that you, and only you, can see your payment details. In addition, they take gambling addiction seriously and partner with GambleAware. This dedication to their customers welfare that makes Smarkets one of the finest betting exchanges around.

Bonus Points 6

Although hardly the reason one may be drawn to a bookmaker in the first place, bonus points can be something that separates them from the rest of the pack. Sadly for Smarkets, they didn’t get the top marks here, but still ranked pretty well considering what they have. Take a look below to learn more.

• Live Streams.0/3
• Sponsorship.2/3
• Awards.2/2
• Extra Markets.1/1
• Bonuses.1/1
• Bonus Points.6

Let us explain our rationale for the bonus points we awarded to Smarkets. Firstly, they do not score any points for their live streams simply because they don’t have any. This is a disappointment, but we hope they will introduce this feature in the future. We gave them a highly respectable 2 out of 3 for sponsorships given their official partnership with Queens Park Rangers.

For their vast array of awards, including being named in the Startups 100 Awards in 2012, we couldn’t give them anything other than top marks. Additionally, for their extensive array of political and popular culture bets, we awarded them the top score in the extra markets category.

Smarkets Betting: A One-of-a-Kind Experience

All in all, we can conclude that Smarkets is a superb betting exchange to get an account with. Thanks to the wide variety of betting options, the extremely high odds levels, the extra markets such as political and current affairs betting, and the overall aesthetic of the platform, you can expect a brilliant one-of-a-kind experience.

Our Smarkets review did identify a few areas for improvement. Primarily we aren’t very impressed that there is no live streaming available. Plus, some punters may not appreciate paying commission. Nevertheless, we believe that the overall experience available at Smarkets more than outweighs any negatives. Still, if Smarkets is not the bookmaker for you, head to our homepage to find more top betting sites.

Q&A/FAQ

If you have any more questions about the service offered at Smarkets, send us an email at info@bestbettingsites.com for further clarification.

How much commission is charged on my transactions at Smarkets?

Smarkets charges a standard commission rate of 2% on transactions. However, the welcome bonus offers the opportunity to pay 0% commission on bets after making a qualifying first deposit.

What payment methods can I use at Smarkets?

You can choose from a wide selection of payment methods at Smarkets. Debit card options include Visa, Mastercard, and Maestro. If you prefer to deposit with eWallets, PayPal, Skrill, and Neteller are accepted. You can also use Instant Banking and Trustly for deposits.