Smarkets Review 2017 - Sports Betting Review

Smarkets are an online betting exchange and they are a growing force in the industry as well. They were founded by a small group of investors and have impressively grown from there with such financial clout behind them. They branded themselves as being a more “advanced trading platform” than other major betting exchanges out there and gained impressive ground in 2017 when the Financial Times named them the 25th fastest-growing company in Europe.

SMARKETS

Smarkets
  • Peer-to-Peer exchange betting based on trading principals
  • Very fast and well-maintained website
  • Popular for alternative and novelty betting markets like politics

Online-Betting Rating:

3.5 Stars Rating


Betting markets and odds quality 8/10

The presention on the Smarkets site is really nice, it is a very good website and easy to get around. The odds are highly competitive because this is an exchange and you have peer to peer betting to add that extra value to options. There is very good horse racing coverage on the site from the UK and Ireland but punters will find that there is an absence of stats to fully backup the exchange market options.

Smarkets have built quite a reputation for political betting as well as other novelty markets from popular culture like awards. Can you see yourself anywhere else finding a market for the Clay Prize Winner in the field of math? No, is probably the answer to that. So you have the flexibility of not only naming your own stake on such markets but also the price that you want to take. This is done by simply scrolling through to the odds that you want and you will hopefully have that price matched for the bet to be active.

It is very straightforward and easy to operate and it is an enjoyable user interface overall. So the betting exchange gives you control of your odds which means that you have quality there and there is only a 2% commission that you pay on net winnings, so you don’t have the middleman bookmaker running betting margins. Overall, the odds quality, therefore, are very good, even if it is in limited betting markets.

Sign up bonus, free bets & current promotions 6/10

There is a small welcome bonus that you can pick up when you register a new account with Smarkets. You just have to open and deposit a minimum of £20 as your first funding with them and then you will receive a £10 bonus back on your account. Then any losses basically that you make up to £10 to start off with will be automatically refunded. In order to withdraw any rebated funds, you must wager at least the qualifying deposit on any combination of markets. That has to happened within the promotional period which is three months as that is when unused bonuses will expire. The promotion is open to new users making their first deposit by card or bank transfer only. New Customer Offer, T&C’s Apply, 18+. Please Gamble Responsibly. See details directly at Smarkets.

Smarkets are a little different in that they really don’t deal with promotions at all. You won’t find any other promotional value on the site like money back specials and free bets. Their big selling point is their flat rate commission of just 2%.

In-play betting 6/10

Smarkets do run the full in-play betting service and they focus largely just on the major sports like football, tennis, baseball, cricket and golf for that. Live in-play opportunities are selected from down the left-hand menu, and there is an Instant Match feature available, where you immediately take at the requested price on a live bet. That is opposed to waiting until the counter reaches zero and hoping that the price you want is still there. There didn't’ appear to be as many live betting markets available as you would find perhaps at other established bookmakers.

Clicking on a live event brought up a decent selection of the standard markets that you would expect to find anywhere and nothing more really. It wasn’t the most extensive live in play betting section that we have come across and there was nothing to support a game such as stats or a graphical representation of how the game is flowing.

Extras & features 7/10

With Smarkets you aren’t looking at a lot of extra features on the site at all. It is very down-to-business; here are odds, bet on them. There is really nothing else going on anywhere than the sportsbook itself. There is no live streaming, no stats to back up anything there, and not a great deal of future events, even on the popular football leagues like the Premier League. You get the feeling at Smarkets that 'now' is what counts. That lack of sports stats could be something that punters would miss greatly.

They do have a good trade out feature. This is where you place a bet to oppose the outcome of an existing wager, used to lock in profit, reduce exposure and basically cancel out a previously match bet on that market. This is essentially hedging a bet and an example is an existing £10 lay stake on Juventus to beat Real Madrid at 3.00 with a liability of £20. Real Madrid are winning at half time and therefore you trade out by backing Juventus to win at bigger backed odds of 8.0 than the lay odds that you took on them. So no matter the outcome, you would ensure a win if your staked £3.75 on Juventus to win. There is a great hedging calculator available to figure it all out.

There are, basically, no other sections on the site other than the sportsbook to browse around. But if you are looking for a very clean functional exchange site, they have it.

Payment options - deposit and withdrawal methods 7/10

A look at the payment method page at Smarkets will show you the many different ways that you can get funds into your account. There are the regular wallet and credit/debit card methods along with Bank Transfer available. There are different limits, fee and processing times, so check through the best source for you. Withdrawals can only be made back to the funding source.

Deposit Methods Include: Skrill, Neteller, Bank Transfer, Mastercard, Visa Credit Card, Solo/Maestro, Visa Debit Card
Withdrawal Methods Include: Skrill, Neteller, Bank Transfer, Mastercard, Visa Credit Card, Solo/Maestro, Visa Debit Card

User-friendliness of website & mobile app / mobile version 7/10

The site feels different from the regular bookmakers and that is something that Smarkets have clearly gone for. This is a really nice main website and betting slip that you have in place at the site. You can switch between the mobile layout and the mobile friendly desktop layout on your computer if you want and you can switch between full desktop and mobile site on a device. They do now have an app for iOS and Android now, which was released in 2017. This, fast and secure app will allow you to keep up with your in-play bets and enjoy the trade out features.

Customer Service & Support, Security & Reliability 7/10

All transactions in your account use TLS and SSL for security. There is a contact section at the site and you can access a chat online 24/7 so that could be the best way to get a hold of them. You have a support@smarkets.com email support to contact them or you can call them at +44 207 617 7413 between 9 am and midnight GMT.

Overall / Conclusion 7/10



So this is a betting exchange and a good one. The site is beautiful and really great to navigate your way around and the value is great through their peer to peer odds. However, where it perhaps will fall down for punters is in not having a particularly expansive sportsbook, a lack of any other features whatsoever and limited in-play options. They have a brilliant base to work on though to build from and that 2% commission is a big winner.


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Smarkets £10

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  • Make initial deposit of £20
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* New Customer Offer, T&C’s Apply, 18+. Please Gamble Responsibly. See details directly at Smarkets.