If you’re up to date with developments in the betting exchange industry, you’ll likely be aware that Smarkets have grown exponentially in the last five years, and in 2016/17 saw more than £1bn traded. It’s no secret that much of this success has come as a result of them being an incredibly popular choice for matched bettors.
An intuitive interface, industry-low commissions and good liquidity make this a popular choice for beginner and veteran matched bettors alike. However, there are those who choose to use Smarkets other than for matched betting, and here is why you may consider doing the same.
1. Suggesting tips
This is a new feature that has recently been rolled out and is the company’s attempt to create a more personal experience. It looks at your recent betting activity and generates suggestions based on what kinds of events you like. If you use Smarkets wholly for matched betting then this feature may not be useful, seeing as you end up betting on a wide host of random events depending on where free bets are being offered. However, if you are more interested in using Smarkets as a typical betting platform, then this feature could be helpful.
2. Odds created by the marketplace
When deciding on odds, bookies naturally use a system whereby the odds are ever in their favour to make long-term profits. This means slicing value off the odds they offer, so they will never be out of pocket. However, Smarkets runs on market sports trading and the odds are decided based on where people are placing their money. This doesn’t always mean that odds are better, but, in many cases, they are. Though it’s true Smarkets will take a 2% commission on your winnings, the better odds can more than account for this. Much lower than Betfair’s 5%
3. No restrictions
The most frustrating thing you can experience is when a bookie restricts your account based on your actions and whether or not they think you are exploiting the account. The great thing is that Smarkets have no such restrictions and you are free to bet on whatever you want with how much you want – as long as there is liquidity, of course. If you’re a matched bettor but are annoyed about accounts being restricted, Smarkets will always be there for any back bets you fancy placing.
Smarkets, like any other exchange, is definitely not without its flaws, but it seems a common theme that many consider Smarkets only a tool for matched bettors. Instead, you could start using it to reap easier and greater rewards for more typical betting practices.