Looking for a modern betting exchange with low fees and plenty of features? This honest Smarkets review covers its betting strengths, and why UK punters choose this unique betting exchange.
Full T&Cs Apply! Use code COMMFREE to trade with 0% commission for 60 days. Min. £10/€10 first deposit using Debit Card or Instant Banking. Full T&C’s apply.18+. GambleAware.org.
The Latest Smarkets Welcome Offer
New customers at Smarkets can claim 0% commission on all bets for 60 days when they register and deposit £10 using a debit card or instant banking. While the minimum deposit matches most competitors, the commission-free period gives you two full months to explore their exchange platform without paying the usual 2% fees on winnings.
How to Claim the Smarkets Welcome Bonus
Create Your Account
Fund Your Account
Place Your Bets
Smarkets’ welcome offer has straightforward terms that are easy to meet. You need to use a debit card or instant banking for eligibility, and the 60-day commission-free window starts from your first deposit. This gives you plenty of time to understand how their exchange betting works without paying the standard fees.
Our Complete Review of Smarkets
With Smarkets betting, you get a betting exchange where you can back or lay outcomes, not just pick from fixed odds. We’ve tested everything from their football markets and horse racing coverage to their mobile app and payment options. Our review breaks down their betting exchange, odds, cash-out features, and live betting to help you decide if this exchange is worth using alongside your traditional betting sites.
SMARKETS SUMMARY
A look at Smarkets’ website
Sports Market Coverage
Football, Tennis, Cricket, Horse Racing, American Football, Rugby, MMA, Baseball, Ice Hockey, Motor Sport, Darts, Handball, Table Tennis, Volleyball
Mobile App
Android, iOS
Bet Exchange
Yes
In-Play Betting
Yes
Live Streaming
No
Streaming Requirements
N/A
In-Play Cashout
Yes
Other Features
Back/Lay Betting, Multiple Betting, Odds Graphs
Minimum Bet
£0.05
Betting Exchange
Smarkets runs a pure betting exchange where you bet against other punters rather than the bookmaker. You can either back outcomes (traditional betting) or lay them (acting like a bookmaker). This creates better odds since there’s no bookmaker margin, though you pay a small commission on winnings. The exchange model works like a financial market but for sports events.
Betting Odds
As a betting exchange, we’ve found Smarkets consistently offers better odds than traditional bookmakers because there’s no built-in margin. The odds are set by supply and demand from other users, so you’re getting fair market prices. Popular events like Premier League matches have excellent liquidity, meaning you can get large bets matched quickly.
Bonuses
Smarkets keeps promotions simple with their commission-free welcome offer being the main attraction. As an exchange, they don’t need constant betting offers like traditional bookmakers since their business model focuses on providing better odds. The 60-day commission-free period gives genuine value to new users.
Football Betting
Football is Smarkets’ strongest market with excellent liquidity on major leagues and competitions. You can back or lay outcomes, trade positions during matches, and often find superior odds compared to traditional football bookmakers. We found the exchange format works particularly well for football, given the sport’s popularity and high betting volumes.
Horse Racing
Horse racing thrives on Smarkets’ exchange platform, with good liquidity on major UK and Irish meetings. You can back horses at better odds than most horse racing betting sites or lay horses you think won’t win. The exchange format is great for racing since you can trade positions as odds shift throughout the day and during races.
Tennis Betting
Tennis has good liquidity on Smarkets for major tournaments like Wimbledon and the US Open. You can back players or lay them if you think they’ll lose, and trade your positions during matches as the odds change unlike other tennis betting sites.
Cash Out
Smarkets offers flexible cash-out through their exchange model. You can close positions early by placing opposing bets, giving you more control than traditional betting sites with cash out. The exchange format means you’re not locked into a bookmaker’s cash out price – you can often achieve better results by trading out manually.
Live Betting
Live betting is where Smarkets really excels, with the exchange format allowing for constantly shifting odds that reflect real-time market sentiment. You can trade positions, back or lay outcomes, and capitalise on momentum swings that traditional bookmakers might be slow to price.
Smarkets Mobile Betting App Reviewed
The Smarkets mobile app delivers a clean, professional interface that makes exchange betting accessible on mobile devices. Navigation is smooth with clear visual separation between backing and laying bets. The app includes full exchange functionality, including real-time odds graphs, position management, and instant bet matching.
We particularly appreciated the responsive design and push notifications for bet matching. The search function makes finding specific markets quick, while features like dark mode and fingerprint login enhance the user experience. It’s one of the better-designed exchange betting apps available.
Payment Methods and Withdrawal Times at Smarkets
Smarkets offers multiple deposit options with reasonable limits that suit both casual and serious exchange bettors. All deposits are processed instantly across all methods, allowing you to start trading immediately.
Smarkets Accepts the Following Payment Methods
Payment Method
Deposit Min.
Deposit Max.
Process time
Fees
Withdrawal Time
Debit Card
£10
£3,500
Instant
Free
1-3 Business Days
PayPal
£25
£2,500
Instant
Free
1-24 Hours
Skrill
£10
£2,500
Instant
Free
1-24 Hours
Trustly
£10
£2,500
Instant
Free
Neteller
£10
£2,500
Instant
Free
1-24 Hours
Bank Transfer
£10
£3,500
Instant
Free
2-5 Business Days
The payment processing is efficient with no fees charged by Smarkets, which helps reduce your overall betting costs. Ewallet and debit card withdrawals are processed within 24 hours from our experience, while bank transfers follow the standard 2-5 business day timeline you’d expect from most bookmakers that accept bank transfer.
Customer Support at Smarkets
Smarkets provides comprehensive customer support through multiple channels, which is particularly important for exchange betting, where users often need guidance on trading strategies and platform features.
Smarkets provides excellent customer support through multiple channels with knowledgeable agents who understand exchange betting.
The customer service team consistently provides helpful, personalised responses rather than scripted replies. Their extended hours until midnight accommodate evening bettors, and the support staff clearly understand exchange betting mechanics, making them genuinely useful when you need assistance.
Responsible Gambling Tools
Smarkets provides standard responsible gambling tools, including deposit limits, loss limits, and self-exclusion options. Their exchange model naturally encourages more analytical betting since you’re actively managing positions rather than placing simple win/lose bets. For additional support with gambling concerns, please visit GamCare, and GAMSTOP for UK players seeking comprehensive self-exclusion services.
Our Final Rating of Smarkets
Smarkets delivers a solid betting exchange with industry-low 2% commission, good market coverage, and a modern platform design. Their focus on pure exchange betting means superior odds and flexible trading options, though it requires understanding how peer-to-peer betting works. In our opinion, the bookmaker excels at providing a professional trading environment for serious punters.
Got questions about how Smarkets betting works? We’ve picked the three most common topics that make Smarkets stand out – so you can get straight answers on the platform’s best features.
What makes Smarkets different from a regular bookie?
Smarkets is a true betting exchange, not a bookmaker. You can both back and lay outcomes, set your own odds, and trade bets in real time. With Smarkets, you’re betting against other users, not the house, and you benefit from industry-low 2% commission fees.
How does the trade out feature work on Smarkets?
The trade-out feature lets you lock in a profit or limit a loss before an event finishes. You can place a bet on the opposite outcome of your original bet, and Smarkets will calculate the stakes for you, so you’re always in control, even when in-play.
What tools does Smarkets offer for matched betting and arbitrage?
Smarkets provides a dedicated Matched Betting Hub with a matched betting calculator, advanced search, and boosted price specials. The platform also welcomes arbitrage punters and offers an arbitrage calculator to help you guarantee a profit when the right odds appear at different bookmakers.
Written by Leon Marshall
Smarkets Player Reviews and Comments