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Smarkets — UK Betting Exchange with 2% Commission
Smarkets is a UK betting exchange with a flat 2% commission and a clean, beginner-friendly interface. UK Gambling Commission licensed.
4.0 / 5
☆☆☆☆☆
★★★★★
Pros
- Flat 2% commission across most markets — meaningfully cheaper than Betfair's standard 5% over the long run
- Clean, modern interface widely regarded as the most beginner-friendly in the UK exchange market
- Excellent iOS and Android app with a genuinely usable bet slip — strong for placing lay bets on the move
- Good liquidity on top-tier football, major UK and Irish horse racing, and large international tournaments
- Free, fast deposits and withdrawals via UK debit cards, bank transfer, PayPal, and Apple Pay
- Free account opening with standard UK verification — no monthly fees or platform subscription
Cons
- Liquidity is thinner than Betfair on lower-league football, niche sports, and smaller racing meetings
- In-play trading tools and third-party software ecosystem are far less developed than Betfair's
- Customer support is limited outside weekday business hours, which can be awkward during weekend racing
- Most matched bettors end up needing a Betfair account too as a liquidity fallback, so Smarkets does not fully replace it
Specifications
| Specification | Value |
|---|---|
| Type | Peer-to-peer betting exchange |
| Commission | Flat 2% on net market winnings |
| Founded | 2010 |
| Headquarters | London, UK |
| Regulator | UK Gambling Commission |
| Liquidity strength | Premier League, top-flight UK and Irish racing, major international tournaments |
| Mobile app | iOS and Android — among the most usable in the exchange space |
| Payment methods | UK debit card, bank transfer, PayPal, Apple Pay |
| Minimum deposit | Low (a few pounds) |
| Public API | Yes (third-party tooling ecosystem smaller than Betfair's) |