Smarkets
Smarkets is a London betting exchange with low commission, licensed in Great Britain. How it works and who it suits.
Licensed in the UK
- Founded
- 2008, London
- Model
- Exchange: customers bet against each other
- Licences
- UK Gambling Commission; Malta, Sweden and other markets
- Commission
- A small percentage of net winnings
Licence and background
Smarkets was founded in London in 2008 as a technology-led rival to the established exchanges. It is licensed by the Gambling Commission and holds licences in several other European countries.
UK protections apply, including GAMSTOP.
What you get
On an exchange you back or lay an outcome at a price offered by another customer, and the site takes a commission on net winnings in place of a bookmaker's margin. Smarkets is strongest on football, horse racing, tennis and politics, where prices on big events often beat the bookmakers.
On smaller events there may be little money available to match your bet.
Our take
A good choice for price-conscious bettors and for anyone who wants to lay as well as back. Liquidity is thinner than on Betfair, so it works best on major markets.