Smarkets Exchange UK Review 2024 - Get 0% Commission Offer

Peter Addison

Peter Addison

Sports betting writer

Peter joined the BettingSites.co.uk team in 2023, having previously worked for many high-profile gambling-related sites such as RightCasino, JustSlots, WhichBingo and Gambling.com. An experienced head when it comes to all aspects of iGaming, Peter is a fanatic fan of sport, including football and US sports such as baseball and American football. He is also a multi-published fiction writer, although sadly, not a wealthy one.

All posts by Peter Addison

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We independently review betting sites. Sign-ups through our links may earn us a commission at no extra cost to you, this never influences our listings’ order.

The Smarkets exchange has emerged over the last couple of years as a genuine rival to the tight UK betting exchange market. Sports betting exchanges such as the Smarkets exchange work differently to fixed odds betting sites and you often get better returns for your winning bets. The only downside is that at a betting exchange you have to pay a slight commission on your winnings.

If you are new to a sports betting exchanges then don’t worry as this Smarkets review will inform you all about how they work. They will also show you how Smarkets commission works, and tell you all about the Smarkets sign up offer when you can get Smarkets 0 commission for 60 days.

0% Commission For 60 Days

A top notch betting exchange with good liquidity and best rated exchange betting app.

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COMMFREE

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Use code

COMMFREE

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Copy the code & click "Claim Bonus"

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Apply your code at Smarkets UK and enjoy your new bonus

Use code COMMFREE to trade with 0% for 60 days. New UK, IE & Malta users only. Min. £10/€10 first deposit only using Card or Instant Banking. Full T&Cs apply.

  Smarkets Sign Up Offer Overview

The Smarkets exchange sign up offer is very easy to understand – in fact this Smarkets 0 commission offer is one of the ‘easiest to understand’ sign up offers we’ve ever come across! With the Smarkets exchange sportsbook deal you don’t have to worry too much about minimum deposits, playthrough, qualified payment methods or anything complicated at all!

Because Smarkets is a betting exchange as opposed to a fixed odds betting site, all money that’s used for betting is paid out to the winning bettors … so how does Smarkets work and stay in business?

It does so by charging a 2 percent commission on all winning bets, however, for the first 60 days of your Smarkets membership, you do not have to pay any commission at all!

Smarkets Welcome Bonus Terms and Conditions

To claim your Smarkets 0 commission bonus you first need to opt-in to it, and then for any deposit you make that you want to qualify for this bonus you need to use the code ‘COMMFREE’. Your first deposit at the Smarkets exchange must be for at least £10, and you cannot use Skrill, Neteller or PayPal to make that qualifying deposit, or a virtual or prepaid card such as PaysafeCard.

You only need to make a qualifying deposit once using the Smarkets promotion code ‘COMMFREE’ in order for your 60 days Smarkets 0 commission deal to be activated. All subsequent deposits (no matter the payment method) will contribute to the commission-free deal.

Once the 60 days trial period is up, you will begin to pay the standard Smarkets 2% commission on all your winning Smarkets exchange bets.

Who Can Claim the Smarkets Welcome Offer

Anyone who is able to legally open an account at the Smarkets exchange is eligible for the Smarkets 0 commission offer. This means of course that in the UK you have to be at least 18 years of age.

Although this Smarkets review is concentrating on the UK side of Smarkets, the Smarkets 0 commission deal is open to ANY jurisdiction where betting using the Smarkets betting exchange is legal.

  How to Get Started and Claim Your Smarkets Bonus

The registration and bonus claim procedure at the Smarkets exchange is very, very simple. The first thing you need to do is click the button you can see here. This will send you straight to where you need to be – Smarkets!

The next step is to click the ‘Sign Up’ button. This will open up the first step of the registration process. There is not a great deal of information to fill in, so the process is both painless and speedy.

Don’t forget to enter the ‘COMMFREE’ code in the ‘Promotion Code’ section. Once you have filled in all the relevant information your Smarkets exchange account should be activated.

Next, head to the cashier and register a debit card. Remember, do not use any eWallet such as Skrill, Neteller, PayPal or a prepaid card such as Paysafecard to make your initial deposit, else you won’t get your Smarkets 0 commission deal. Also make sure that your initial deposit is for a minimum of £10.

Once your deposit has been processed … that’s it! You can now enjoy 60 days of 0 percent commission on all of your Smarkets betting exchange winnings.

Smarkets 0 Commission and Other Promotions

We’ve already explained as much as we can about the Smarkets 0 commission deal for the first 60 days of your Smarkets membership, so now it is time to turn our attention to any other Smarkets sign up offers, including the possible existence of a Smarkets free bet?

Well, we certainly would like to …  but there are no other promotions at Smarkets. This is fairly typical at betting exchanges as they make their money differently to fixed odds betting sites via commission as opposed to losing bets.

In addition, that Smarkets 0 commission deal is extremely generous … just think, it is not possible for Smarkets to make any money off of your sports betting for the first 60 days of your membership, and there is nothing to stop you from leaving Smarkets after your commission-free period is up (although we don’t think that you would, such is the brilliance of the sports betting exchange). We can therefore understand why Smarkets is more than a little ‘lite’ on other promotions.

How to Redeem Your Smarkets Promo Code

The only promo code offered by Smarkets is ‘COMMFREE’ which you use to acquire your 60 days Smarkets 0 commission deal as your Smarkers new customer offer. You simply enter it in the required box (see the screenshot above) when you complete your registration at the site.

There are no other Smarkets promo codes currently available and as Smarkets is promotions-lite, we don’t think that offering promo codes other than for Smarkets sign up offers is really this betting exchange’s thing.

Smarkets Betting Exchange Review

Now we have gotten the good news about the Smarkets sign up offer out of the way, and the bad news about the lack of other promotions, it’s time to dig a little deeper into what the Smarkets exchange is able to offer you.

What Sports Can I Bet on With Smarkets?

Smarkets has a somewhat tighter list of available sports than fixed odds betting sites. That’s because not all sports are suitable for exchange betting, and smaller markets may not get the interest needed to make exchange betting viable. Exchange betting only works when the site can find someone to match you up with who wants to bet on the reverse outcome of what you want to bet upon!

The full list of available markets at Smarkets is as follows: Football, horse racing, news & politics, tennis, American football, basketball, boxing, cricket, current affairs, cycling, darts, eSports, golf, greyhound racing, handball, ice hockey, MMA, motorsports, rugby league, rugby union, snooker, table tennis, TV & specials and volleyball.

Smarkets Commission

You only pay Smarkets commission on winning bets, and that is set at two percent. Of course, if you use the Smarkets promo code ‘COMMFREE’ when you sign up for an account at the site and then make a minimum £10 deposit using a debit card, you’ll get Smarkets 0 commission for the first 60 days of your membership!

Smarkets Cash Out

Cash out is where you settle a winning bet on any market before the event the bet pertains to has concluded, albeit for reduced odds. As Smarkets is not a fixed odds site cash out is not available here, however, Smarkets has an equivalent called ‘trade out’ which we will explain to you later in this Smarkets review.

Liquidity

Liquidity is the amount of money available for you to bet against when you want to make a sports exchange bet. For example, say you want to bet £100 on Arsenal at Evens to beat Liverpool in the EPL, but the combined total of bets placed on Liverpool to beat Arsenal is only £80. This means the maximum bet you’d be able to place is £80. Smarkets would accept your £100 in the hope that the extra £20 is covered, but if it is not, you would only get back £80 if Arsenal do win, and not £100.

You can see the available liquidity under the odds listed for any outcome at Smarkets. The number is the current maximum amount available for you to win if you were to bet on that outcome.

Odds and Value

Unlike fixed odds betting sites, the Smarkets exchange does not set its own odds. Punters using the betting exchange can set their own odds when offering to match a bet. You will see the most popular ‘odds’ with the most liquidity available when you look at any event able to be wagered upon at the Smarkets desktop site.

Bet Limits

As already explained, the bet limits at Smarkets are set by the amount of liquidity available. You can’t bet £1,000 on an outcome if the matched amount of liquidity is only £20!

Smarkets will not limit your betting in any way, but the limits are set by the other sports bettors using the site.

In Play Betting

Live or in play betting is probably the hottest market at the Smarkets exchange. If you click on the ‘In-Play’ section at Smarkets you will see all the live events that currently people are offer exchange bets on.

You really do have to be quick with in play betting at Smarkets! The odds and liquidity change all the time as people react the current status of the live event. The current odds with the most liquidity and the amount of liquidity available is shown and is constantly updated. If you want to get you live bet on at Smarkets, there is absolutely no messing around.

All popular markets are available at the Smarkets exchange for live betting but again, the availability depends upon the amount of liquidity available.

Live Streaming

There is absolutely no live streaming at Smarkets, nada, nil, zilch. This includes live streaming via the Smarkets app.

Other Functionality

As is common with betting exchanges, there is very little ‘other’ functionality at Smarkets. There is no such thing as a bet builder for example, as betting exchanges simply do not work that way (no fixed odds). The same goes for price boosts and ‘best odds guaranteed’ as they are truly the preserve of fixed odds betting sites.

If you are of a techy nature then you can gain access to the Smarkets HTTP API. This is a direct data free to and from the site that you can incorporate into your own programs, meaning you can automate certain aspects of your Smarkets trading. We do not, in any way, recommened this for newbs.

Smarkets Customer Support

Betting exchanges typically offer exceptional levels of customer support and the Smarkets exchange is no different. The ‘Help Center’ should be your first port of call, as that will explain how to use Smarkets, and what to do if you encounter a common problem, such as your account suddenly being locked.

If the help centre is not helpful, then you can contact the Smarkets exchange directly. This can be done via email at [email protected], Twitter @SmarketsTech or live chat between 8am and 11pm UTC. You can even write to Smarkets at 1 Commodity Quay, St. Katharine Docks, London, E1W 1AZ.

Live chat is only available for logged in customers. We found it very responsive and helpful.

  Try Smarkets App

Smarkets does not really have an app, but it does have a sister site called SBK which is available on mobile only. This though is a fixed odds betting app, and not a betting exchange. You can get the SBK app via the Apple App Store, Google Play or you can download and install the SBK app for Android as an apk file directly from the Smarkets desktop site on mobile. You’ll find the ‘SBK’ link at the bottom of any page at Smarkets.

You can of course use Smarkets on mobile, but only via a web browser. To do this, open your browser of choice on your device and navigate your way to Smarkets, just as you would on desktop.

Smarkets Trade Out Explained

The ‘cash out’ equivalent of Smarkets is called ‘trade out’ and works a little differently as Smarkets is a betting exchange, and not a fixed odds betting site.

With trade out you can lock in your profits, or cut your losses either before an event has begun, or while it is in progress. If you have a matched bet on an event, the exposure is not zero and there is sufficient volume on the event, then you should be able to trade out. If trade out is available, then a ‘trade out’ button should appear on the event’s listing.

Click on trade out if you want to take the profit or accept the loss as it stands. Such is the volativity of betting markets at Smarkets that your trade out position can change in the blink of an eye, so the prices may change. You will asked to confirm your trade out at any new prices before you accept it.

  Smarkets UK Payment Methods

Below you will find details listed of all Smarkets payment methods available to people in the UK, plus important details such as how long payments take to process, any fees involved and the minimum accepted deposit and withdrawal.

Smarkets Withdrawal Time

If you withdrawal via a Visa debit card, your payment may be with you within less than an hour. Mastercard withdrawals are speedy too, being processed in less than half a day. The Smarkets withdrawal time for eWallets is around 24 hours, although they may take up to 48 hours. A bank transfer is the slowest Smarkets withdrawal time, at between 5 and 10 days.

Smarkets Sponsorship Deals

Smarkets are not a heavy sponsor of sport. They were briefly the sponsor of UK football team Queen’s Park Rangers for the 2016-17 season.

  Smarkets Pros & Cons

As we have almost reached the concluding part of our Smarkets review, it is perhaps time for us to reflect on all we have learned about this UK sports exchange betting platform. There is a lot to like about Smarkets, but as ever with UK sports betting sites, there are a couple of things we feel could be improved. Here is our summary of the chief pros and cons at Smarkets, in our opinion.

Our Final Verdict

Smarkets is a superb sports betting exchange platform, and a really good way of getting into exchange betting rather than fixed odds betting if you want to earn more profit from your winning sporting bets. That 0% commission deal is excellent, as that means for 60 days you can only lose money to your fellow punters – no Smarkets itself. From that point onwards, the miserly 2% commission is truly exceptional and will not bite into your winning profits too much.

Exchange betting is very different to fixed odds betting and Smarkets does its best to act as a soft introduction to the concept, although we feel the ‘entry level’ is still a little too high. Still, if profiting more from your betting is important to you (and it should be) then it’s worth the effort, and the 60 day 0% commission period is ideal for learning about exchange betting, and if it’s right for you!

  Smarkets FAQs

Peter Addison

Sports betting writer

Peter Addison

Sports betting writer

Peter joined the BettingSites.co.uk team in 2023, having previously worked for many high-profile gambling-related sites such as RightCasino, JustSlots, WhichBingo and Gambling.com. An experienced head when it comes to all aspects of iGaming, Peter is a fanatic fan of sport, including football and US sports such as baseball and American football. He is also a multi-published fiction writer, although sadly, not a wealthy one.

All posts by Peter Addison