SMARKETS review

SMARKETS have a wide range of tools to help punters get the most from their betting and trading.

Hedging calculator – The hedging calculator works out how much you need to back or lay to guarantee a profit or reduce your loss – whether your bet wins or loses – on a betting exchange by trading out of a market – leaving you with an equal profit or loss across all selections in that specific market.

Arbitrage calculator – The arbitrage calculator – also known as an arb calculator – automatically calculates how much you should stake on each single outcome on a market you want to make an arbitrage bet.

Bet calculator – Smarkets’s bet calculator automatically calculates your payout for any bet whether it’s back or lay betting on a betting exchange or a bookmaker, so you can identify your return and any commission paid quickly.

A betting exchange is a platform for bettors to trade on the outcome of certain events. It differs by allowing bettors to bet against each other rather than a bookmaker – so bettors can act as a bookmaker by setting odds for an event, or the customer by backing the odds set by other users on the exchange.

The formula to calculate expected value for betting is fairly simple:

(Amount won per bet * probability of winning) – (Amount lost per bet * probability of losing)

Let’s use a coin toss as an example of calculating expected value. Assuming the coin and the toss are fair, each outcome (heads or tails) has an equal probability of 50% – therefore the odds offered on a fair market would be 2.0.

This would result in an EV of 0 for either a Head or Tail – because the probability of the two outcomes is the same, so if you tossed a coin infinitely it would theoretically end up all square.

If however you were offered odds of 2.15 for the coin to land on heads, this is a value bet.

If you placed £10 on the coin landing on heads at 2.15, the EV is calculated likewise:

(11.50 X 0.5) – (10 X 0.5) = 0.75

This shows an EV of 0.75. Therefore you would expect to make an average profit of 75p for each £10 bet, because the odds received are better than the implied odds of the coin toss.

The minimum deposit amounts vary depending on your chosen deposit method. The minimum amount is £10 with the minimum being £20 for Neteller deosits.

It’s easy to set a deposit limit with Smarkets. You can set daily, weekly or monthly deposit limits.

Once your deposit limit has been set, the changes will happen immediately, while there will be a week pending period before increased limits will take effect.

Their are no maximum withdrawal limits at SMARKETS, as an exchange you are only limited by the amount you have in your positive account balance.

Where possible, Smarkets will try to verify your account electronically by running the details you provide when signing up against a number of UK official databases.

Note: This will not affect your credit rating and we do not access this private data.

Smarkets adheres to all relevant anti-money laundering requirements.

All transactions may be checked to prevent money laundering. Any transactions which Smarkets deems suspicious may be reported to the appropriate authorities. We do this to protect all of our customers against fraudulent transactions.

During the Competition Period, enter by visiting smarkets.com and signing up for an account, and then sending a Direct Message to the official Smarkets account on Twitter and/or Facebook quoting the relevant competition code that appears in the social media content promoting the competition (e.g. ‘Exeter2401’).

Each participant may make a maximum of one (1) entry during the Competition Period. All entries must be received by Smarkets during the Competition Period.

SMARKETS is a relatively new player in exchange betting but we have been very active on the market and we believe our liquidity is as strong as any other exchange out there. The best way to test it yourself is to try out SMARKETS.