£10 in Bet Credits
wide selection of Livestreams*
- How to Claim the Smarkets Welcome Bonus: •Register a new Smarkets betting account •Make a first a minimum deposit of £20 (or currency equivalent) by card •You’ll receive a refund of up to £10 (or currency equivalent) on your first loss – automatically!
- Cash Out: Yes✅Smarkets’ cash-out option is known as "trade out"
- Country Restrictions: Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, the United States, Italy, Portugal, Russia, Belarus, Ukraine and Kazakhstan
- Minimum deposit: £10
Pros / Cons
- Massive odds levels
- On-site betting guidance
- Cash Out
- Good trading platform
- 2% commission
- Lack of casino games
Smarkets Exchange Review
The online sports betting industry is growing every year, and just when you think there can be nothing new out there – an innovator pops up with some fresh ideas about what an online bookie should look like. In this article, we’ll be taking a look at Smarkets exchange and their unique approach.
Smarkets Company Information
Smarkets sprung up in 2008 as the brainchild of 35 software engineers and industry experts who looked at the current state of betting sites and thought they could use a bit more user interaction. As such, Smarkets is an example of new betting sites known as betting exchanges. With these, you don’t play against the bookmaker as you would at a traditional sportsbook. Instead, you wager against other punters. We’ll get into the details a bit further down.
Smarkets is based in the UK and thus regulated by the UK Gambling Commission. Outside of their home country, they’re regulated by the Malta Gaming Authority.
Sports Selection and Overall Service
This new bookmaker was thought up by technologically-minded people with user experience as a priority – and it shows.
The webpage is beautifully designed, well-optimised, and exceedingly easy to use. Smarkets prides itself on prioritising sports betting over entertainment and other gambling, so the whole website is not cluttered by flashing ads for casinos and promotions you probably don’t really care about.
In terms of design, this is one of the best betting sites out there.
AS we mentioned previously, this is a peer-to-peer betting platform. This means that it allows you to find the best betting offers put up by other users and accept them if you so choose. Alternatively, you can act like a bookie yourself and offer your own odds and wagers to others.
Smarkets focuses on quality over quantity, so there’s not a lot of options in terms of different sports. While each sport is given proper attention, there are only about 10 of them, plus special offers like TV and Entertainment.
Betting Odds and Live Betting
Seeing how odds are technically set by other punters, they can greatly vary. The good part about this is that you can tailor your experience to your interests. Is Premier League betting what you want, for example? No problem! If your offer is good enough, someone is bound to pick it up.
As a general rule, betting exchanges have more favourable odds compared to even top bookmakers. The reasoning is that they don’t really care which way the bet goes – they take a 2% cut either way, which is more than reasonable.
Live betting is an option and works the way you would expect it to: punter vs. punter, only this time wagers are made during the match.
Smarkets Deposits and Withdrawals
Smarkets offers a healthy selection of payment options, including credit and debit cards, eWallets, and other methods such as Skrill, Neteller and bank transfers.
Withdrawals can be a bit slow compared to some of the competition, taking anywhere between 1 and 6 workdays.
Smarkets Welcome Bonus
Smarkets offers a relatively small first deposit bonus – if your first payment is £20, they’ll match it with an additional £10 in free bets.
Due to how betting exchanges work, the bookie lacks any other betting promotions and freebets. This can be easily excused, however, because of the great odds you can get on Smarkets and the small commission fee.
Smarkets is different even among new bookmakers, not only because they work as an exchange, but because of a lot of different design choices that provide an entirely novel approach to online sports wagers.
If you’re tired of the same old betting offers, we recommend you give them a try.ω