Smarkets

Gambling Judge score

8.15/10

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Important announcement: Smarkets is blacklisted because of slow communications and response to player and affiliate requests. As a result, we can recommend you to play at 18Bet, Betbright or Big Bet World, some of our best rated bookmakers.

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Smarkets welcome bonus and review

There are plenty of bookmakers offering online gambling services to their users, but a distinction needs to be made between standard ones and betting exchanges. Smarkets falls into the second category, which means that players wager against each other rather than the house. This presents them with the advantage of betting at higher odds and they get to choose between backing the team or laying it ahead of the game.

The name of this online gambling operator can induce the idea that Smarkets is more about binary options than sports betting. The truth is that the company established in 2008 acts as a bookmaker, more precisely is a betting exchange that is very similar to Betfair. There are many similarities between this company and the one that dominates this niche, with the newcomer trying to close the gap. It offers competitive odds and allows customers to use peer-to-peer wagering, hence compete against each other instead of the house

This is the main reason for why the odds are slightly better at Smarkets than the industry standard and the best part is that they only charge the profits. Instead of working as a traditional bookmaker that offers fixed odds, this one allows a great deal of flexibility and if you happen to lose, you won’t have to pay the commission. Their markets range from popular football leagues from Europe, to political events but the system in place is the same and works identically regardless of competition.

Good sports coverage

Everything from football to American sports, rugby and motorsports to ice hockey and volleyball is covered here, still the offer is underwhelming if compared to Betfair. The aforesaid company has been around for longer and this explains why they have more to offer than the relatively new Smarkets. On the bright side, the usability is similar and the interface not that different, so if you are familiar with how betting exchanges work, you won’t have a problem in playing here.

It all depends on the liquidity and sometimes Smarkets falls flat when there are not enough people willing to back or lay a certain team. Canceling unmatched bets is easy, so those members who find it virtually impossible to fulfill their wagers can cancel the bets before they are matched. The problem is more acute when it comes to obscure leagues and less popular sports, but those who bet on major European competitions will not have to worry about liquidity.

Follow the beginner tutorials, if needed

There is a tutorial available for those who haven’t placed bets over the Internet before, or those who are not accustomed to the system used by betting exchanges. It is impossible to overstate the importance of using this tool before playing on real money, as it comes in handy for newcomers. The website design is sharp and the colors used inspired, so it is virtually impossible to miss out on a lucrative opportunity simply because you couldn’t find the desired event.

The same quality of service is insured in regard to payment methods, with all the options offered by Betfair being also on the menu at Smarkets. On the flip side, there is no cash out feature, therefore it is not possible to lock in on existing profits before the final whistle. This is a surprising absence given the fact that most betting exchanges are big on introducing the kind of features that allow punters to reduce risks and mitigate losses.

Bonuses available for

Betting Exchange

Bonus
not available in
United States

Horse Racing

Bonus
not available in
United States

Welcome bonuses and free bets at Smarkets

Smarkets has high expectations for this relatively new project and in order to win players over, they are willing to offer better lines than standard betting exchanges. In the long run, this is what makes the difference between winning and losing punters, as they need all the help they can get. Speaking of which, new members will be thrilled to hear that there will be given a head start in the form of a welcome bonus worth half of their investment.

They are expected to deposit at least £20 but can also choose to fund their Smarkets accounts in currency equivalent and receive a free bet of half that amount. Once the qualifying deposit has been made, players are required to wager the entire amount on any betting exchange and wait for the outcome. If they win, they will take it from there and decide for themselves how to use the resulting profits, otherwise they will be promptly reimbursed.

They only need to wager the free bet once and there are no minimum odds to worry about, while accumulator bets are accepted. The nature of the free bet means that members should be looking for higher odds when wagering, because they only get to keep the profits while the stakes return to Smarkets. The wagers can be played on desktop computers, laptops but also tablets and smartphones, although there is no special bonus for mobile devices.

Pros and Cons when playing at Smarkets

Smarkets is a new player in this highly competitive industry, so punters need to know both the pros and cons of opening an account here. Their most famous competitors are Betfair, as they use a very similar system which has players competing against each other. The house only charges a very small commission, therefore it is possible to extract maximum value from each bet.

Compared to other betting exchanges, Smarkets odds are on par, but they are considerably higher than what standard bookmakers offer. This is one of the advantages and since the value in odds is perhaps the most important thing for serious punters, it is also a great selling point.

Mobile betting has been recently introduced at Smarkets which is definitely an advantage, even though mother punters tend to take this sort of technology for granted. Placing wagers on tablets and smartphones makes it far more convenient to play here, but for the time being only Android powered devices can be used. The betting exchange promises to update its software so that it can serve IOS users as well, but this is only on the wish list for now.

The minimum deposit allowed is of only €10 and players can withdraw as much as they like, with the absence of any limitation being another plus for Smarkets. These guys have been around for six years and they run a stable betting platform, while there are no pending complaints against them. They have a good reputation and this makes them one of the better bookies for those willing to open an account.

On the downside, players from the United States, Turkey and France have been excluded from Smarkets and they can’t open an account or benefit from any promotions. While these three countries have been specifically mentioned by the betting exchange, it reserves the right of refusing service to all those who reside in jurisdictions where access to Smarkets services is prohibited.

The absence of live betting and the fact that there are no specialized betting tools for savvy punters is one of the cons for opening an account with Smarkets. On the bright side, there is plenty of information over the Internet to compensate for the lack of statistics and analysis, so those who take this activity seriously will not have problem in finding relative data.

Smarkets contact methods

The fastest way of contacting customer support at Smarkets is by using the telephone number, which is the same regardless of country of residence. There is always the option of writing an email that will be promptly answered, although in terms of convenience, the telephone reigns supreme. For the time being, members can’t ask their questions via live chat, but they can post their concerns and make suggestions on Facebook, Twitter and Google+.

Live chat: Yes

English

28/19 Strait Street, Valletta, Malta

Withdrawal and deposit options

All major electronic wallets are accepted and the vast majority of Smarkets users are relying on Skrill and Neteller when depositing and withdrawing funds. It makes perfect sense for them to choose these two payment methods, as they allow players to deposit as little as they like and the minimum withdrawal is of only €20. There are no commissions or fees charged while the entire transaction takes between one and two days, making it one of the fastest alternatives.

Credit cards are equally popular and Smarkets has included all major brands, with players get to choose between Visa, MasterCard and Maestro. The former is by far the most versatile of them all, since it allows players to deposit and withdraw money just as easily. The minimum amount is set at €10 and there are no fees to worry about when cashing out, although the process is slightly slower than electronic wallets.

Those who plan on cashing out bigger amounts or emphasize security of transactions will appreciate the fact that bank transfer is among the payment methods accepted at Smarkets. You will have to cash out at least €20 but if you reside in the European Union there will be no fees to pay and the transaction will be complete in between three and five days. Those who reside outside the EU will be subject to a standard commission ranging from €10-€12 depending on the amount they cash out.

Currencies
accepted:

AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, NOK, PLN, SEK, USD

All deposit
withdrawal
methods:

Visa, Solo, Mastercard, Maestro, Ecocard, Neteller, Skrill (Moneybookers), Bank Transfer

MethodMin WithdrawalMin DepositWithdrawal FeeWithdrawal
ProcessingTime
Solo EUR 10 EUR 10 EUR 0 1-6 days
Mastercard Unknown EUR 10 EUR 0 1-6 days
Visa Unknown EUR 10 EUR 0 1-6 days

Method

Min. withdrawal
EUR 10
Min. deposit
EUR 10
Withdrawal fee
EUR 0
Withdrawal processing time
1-6 days
Min. withdrawal
EUR N/A
Min. deposit
EUR 10
Withdrawal fee
EUR 0
Withdrawal processing time
1-6 days
Min. withdrawal
EUR unknown
Min. deposit
EUR 10
Withdrawal fee
EUR 0
Withdrawal processing time
1-6 days
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