Smarkets Sports Betting Review (2024) – Ultimate Guide

Registration Process 5/5

• Three-step process
• Basic information required
• Depositing part of the process

Creating an account with Smarkets is a simple three-step process in which only basic information is required. Customers are obliged to enter their email address, date of birth, and create a secure password part of step one. Those fortunate enough to have access to a promo/bonus code can redeem it here, too.

Next, you’ll have to list your name, phone number, country of residence, address, and preferred currency before moving on to the third and final step.

You’re now all but ready to go after that. Step three doesn’t require any information and instead, customers have the choice to deposit funds into their account and set deposit limits. Smarkets gives the option of skipping an immediate deposit and beginning your betting exchange journey without a funded account.

If more documentation is required to verify your account, you will be contacted by email, and your documents will be reviewed within an estimate of 24 hours.

Welcome Offer 4/5

• Trade with 0% commission for 60 days

New Smarkets customers are entitled to 0% fees for 60 days after signing up with the betting exchange.

To receive the bonus, you have to use the code “COMMFREE“. For the bonus offers you’re required to make a £10 deposit via debit card or Instant Banking. All other payment methods do not qualify for this promotion.

With the ‘0% from first deposit for 60 days’ option you ‘re eligible to enjoy trading with a commission rate of 0% on all bets that settle within 60 days.

Full Terms and Conditions apply. Bet Responsibly. BeGambleAware.org

Pre-Match Offer 5/5

• Industry-low 0% commission fee welcome offer
• Useful statistical and analytical tools
• Plenty for the novelty bettor to enjoy
• Trade Out option

Smarkets is a betting exchange. This means that, in contrast to your traditional bookie, customers can bet against each other rather than the bookmaker. The latter is replaced by the punters themselves who back or lay the odds for an event instead.

You’ll find 18 sports covered here. This isn’t massively broad, but the sports offered are nonetheless covered in impressive depth.

The betting platform charges an industry-low commission fee of 0% for new customers signing up until the end of 2023.

Once you’re signed uo you have the option to have a rate of 1% exists as a Pro Tier customers if you place more than 1,500 bets or stake more than £1,000,000 every month.

Thus, Smarkets offers a better quality of odds when compared to traditional betting markets, given the fact that the odds on offer at betting exchanges in general are driven by supply and demand, rather than being set by a bookmaker with an associated bookmaker’s margin.

On the exchange, customers have the choice whether to Back (buy) or Lay (sell) a bet. Buyers are the customers; sellers are the bookmakers.

Back betting is similar to betting with a bookmaker: you’re betting that a particular outcome will happen. With Smarkets, you can place a back bet by selecting the odds in the green box. So, in the example below, you’d be backing Bolton to beat Port Vale at odds of 1.62.

Layers, meanwhile, offer odds to other exchange users. If you’re placing a lay bet, you believe the outcome will not happen. The blue boxes show the current lay odds and, in the example below, you can see what a lay bet placed with a £20 stake at odds of 1.2 looks like.

We’ve bet against Portugal, so if the match ends in a draw of a Republic of Ireland victory, our bet wins. In this case, we’d win £4 with a return of £24 because of our £4 liability – the amount we’d stand to lose if our bet is unsuccessful.

Customers can also choose to back higher odds – the reason for the multiple boxes alongside every outcome – if they believe the odds that are currently being offered are too low. If another exchange user chooses to lay their bet, and offer them odds for the same, their bet will be matched. If this does not occur, however, their placed stake will be returned.

Smarkets present various graphs and statistics to help its users assess and analyse the nature of the market, thus universally aiding betting strategies. Customers can also choose whether to display odds as decimals, percentages or American.

Esports

Smarkets’ esports offering is great. On the day of writing, 40 Counter-Strike and 12 League of Legends events were covered. Other major gaming events are covered frequently as well.

If you want to take advantage of the site’s impressive esports coverage, be sure to check out our top esports tips and strategies.

Other Specials

There’s more than enough for novelty bettors to get stuck into here. Political events make up some of Smarkets’ most popular markets. These include the 2022 French election, the next British Prime Minister and the next German Chancellor, at the time of writing.

Customers can also bet on various ‘Current Affairs’ markets that cover an array of events – or possible events.

For example, in 2021, Smarkets give its customers the chance to bet on whether they’ll be any more pandemic-related restrictions in the UK, the year of the first European Super League match and whether Gareth Southgate will earn a knighthood by the end of the year.

It’s rare to see traditional bookies offer these sorts of markets.

Regarding TV and Entertainment, the platform covers Sports Personality of the Year in 2021, the 2022 Oscars, Strictly Come Dancing, James Bond and Doctor Who.

Cash Out & Bet Builder

Smarkets has a Bet Builder and a Cash Out feature for its customers.

‘Trade Out’ allows users to secure a profit or cut losses per contract both pre-game and in-play at the click of a button. However, it’s only activated when you have matched bets on a contract, the exposure isn’t £0 and there is enough volume on the market.

If a trade out request is unsuccessful, it will likely be because of either a lack of liquidity in the market or the price may have moved.

Security 4.5/5

• Licensed and regulated by the UKGC and MGA
• Distinct emphasis placed on responsible gambling
• Several account limits

Smarkets is licensed and regulated by the UK Gambling Commission and the Malta Gaming Authority for its operations in the UK and overseas respectively.

Smarkets’ emphasis on responsible gambling is distinct. Following the creation of your account, you’re immediately given the option to set deposit limits to restrict your gambling.

For more information on responsible gambling, customers can access a link at the bottom of the homepage. Once accessed, customers will see a comprehensive overview of the site’s policy towards responsible gambling. Articles are provided that help you identify problem gambling, while support agencies for addiction are also listed.

Alongside deposit limits, punters can deploy other spending controls such as Loss and Stake Limits. Time-Outs and Self-Exclusions can also be deployed, while a Self-Assessment test can be taken to gauge your gambling activity.

An in-depth Privacy Policy is also accessible.

Design and Usability 5/5

• Modern feel to the website
• Structure enables an interactive, user-friendly experience
• Dedicated blog that covers topics outside of sport

Available in three languages (English, Swedish and Portuguese), the Smarkets website is very impressive. The design is super slick, with customers having the option to choose between a light or dark theme. We preferred the latter due to the sharp contrast between the prominent black and background white and green colours.

The graphs and statistics found all over the platform are not only incredibly detailed and useful, but they’re superbly designed too. Real images, meanwhile, are used for the platform’s graphics, thus adding to the professional feel of the site.

Structurally, Smarkets’ website facilitates a user-friendly experience. A slider is prominent in the centre of the homepage, but it’s not overbearing. ‘Top Markets’ then run underneath, with ‘Quick Links’ accessible on the left-hand side along with an A-Z list of all the events the site has to offer.

More popular markets manifest on the right-hand side, underneath an ever-present bet slip. Contact links, as well as the ’ ‘Help Centre’ can be accessed at the bottom of the homepage.

As we said, we were so impressed with Smarkets’ website. It’s an interesting, interactive and modern experience for customers.

Another fine feature is Smarkets HQ. This is the platform’s blog that covers a range of topics outside of sport. Here, the focus is on culture, technology, and politics. The content produced is of the highest quality, although posts are infrequent.

Other Products

At this stage, Smarkets doesn’t offer any other products for its customers, and given the nature of the betting exchange, we wouldn’t expect to see a casino offering any time soon.