Home / Smarkets Sign Up Offer: 0% Commission For 60 Days

Smarkets Sign Up Offer: 0% Commission For 60 Days

0% commission for 60 days

Claim Offer

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

Smarkets have been around since 2008 and have two main products: a betting exchange that allows you to trade sporting and political events, and a Sportsbook available via an app that acts similarly to a fixed-odds bookmaker but actually draws odds from the exchange. 

In our review of Smarkets, we’ll look at their Welcome Offer and how to claim it, how the exchange and sportsbook products actually work, the pros of their mobile app, the payment options they offer and how long deposits and withdrawals each take for the different payment methods. 

We’ll then round things off by comparing Smarkets with its competitors and leave with you a list of FAQs and the answers to them, on all things Smarkets.    

The Smarkets Sign Up Offer Explained

As a betting exchange, Smarkets charges a commission on winning bets that you place.

But opening an account at Smarkets and benefiting from their welcome offer means that you won’t have to pay any commission on any of the winning bets that you strike within the first two months of opening your account. 

As long as your bets were placed and settled within 60 days of you making your first deposit, you won’t have to pay any commission at all if they go on to win. 

Just bear in mind that any winning bets placed after those first 60 days will be subject to the regular rate of commission. 

Is there an Smarkets Promo Code?

Yes, there is. You’ll need to enter code COMMFREE in the promo code field during registration to benefit from the welcome offer.

Smarkets Sign Up Offer Pros

There are various advantages to claiming this offer. Here are the main ones: 

  • Benefit from paying no commission at all for 60 days on winning bets, potentially saving you a considerable amount of money over that period. 
  • A minimum first-time deposit of just £10/€10 is very reasonable in terms of giving you access to the welcome offer. 
  • There are no restrictions on the markets on which you can place your commission-free bets. 

Smarkets Sign Up Offer Cons

There are, however, a few negatives you should be aware of when it comes to claiming this welcome offer. They are: 

  • Any first-time deposit made with Skrill, Neteller, PayPal or prepaid cards (including virtual Monzo cards) means the customer will not be eligible for the offer. 
  • Some customers will have been informed by email that they’re not eligible for the offer for other motives. Reasons for that may include the user already being an existing SBK Sportsbook customer.  
  • Failure to enter the promo code COMMFREE during registration means you won’t receive the welcome offer. 
smarkets sign up offer

Smarkets Sign-up Offer Terms & Conditions

Some of the crucial terms have already been mentioned under the pros and cons. But here’s a recap of the most important ones: 

  • The minimum deposit to receive the offer is £10/€10, remembering to not use any of the e-wallets or prepaid cards mentioned above, such as Monzo.  
  • Whereas winning bets placed within 60 days of claiming the welcome offer are  commission-free, bets that go on to win after this period will be subject to the default commission rate. 
  • New customers are not eligible to claim this promotion if a) They are under the age of 18, b) They already have an existing SBK sportsbook account c) They fail to enter the promo code when registering and d) Someone else in the same family/household or who uses the same IP address has already claimed the offer. 

Step By Step Guide on How to Claim the Smarkets Welcome Offer

Welcome offers such as these provide great value to new customers and are a good way to ensure that you start out life here at Smarkets in the best possible way. That said, it’s vital that you follow all the necessary steps needed to claim the offer. So here they are: 

  • Go to the ‘sign-up’ section in the top-right-hand part of the homepage. Alternatively, just follow this link.   
  • Fill in a few personal details such as your email, password of choice and country where you live; then enter COMMFREE in the box that says ‘Promotion Code’. 
  • Click the ‘Continue’ button. 
  • Make a deposit of at least £10/€10, remembering to avoid the payment methods that will exclude you from claiming the offer. 
  • Place bets on any market of your choice and you won’t pay a commission on any winning bets for the first 60 days after claiming the offer. 

Smarkets Existing Customer Promotions

At Smarkets, the promos don’t stop at the welcome offer stage. Some of them are very time-sensitive (so we won’t mention them here), whereas this one is available until July 31, 2024. Here’s how it works: 

0% Commission – Oddsmonkey Exclusive Promotion

OddsMonkey is a Matched Betting Platform provider. Customers can subscribe to their software to help them with their betting, which has become one of the leading platforms for helping customers make consistent profits when betting on sports. 

Customers at Smarkets who use Oddsmonkey can benefit from paying 0% commission on winning bets between August 1 2023 and Monday, July 31, 2024.

In order to benefit from the offer, they’ll need to Opt-in to the promo after logging in with their Smarkets account email address, use an OddsMonkey integration to place a bet and then place a further bet every 30 days. 

These additional bets must also be placed using an OddsMonkey integration; any bets placed using an alternative API or trading software will become ineligible for this offer.  

Customers should also be aware that if they make deposits using Skrill, Neteller, Trustly or PayPal during the promo period, they’ll also be ineligible from participating in the promo.  

Smarkets Sportsbook Review

In addition to the betting exchange, Smarkets also has SBK, the Sportsbook arm of its brand. 

The Sportsbook is a perfectly good product covering all the major sports you’d want to bet on and features a well-designed site. However, would-be customers should be aware that it’s only available as an app on your mobile. 

Whereas most betting sites have an app in addition to a desktop version, here there is no desktop version, so that may put some people off. But if that doesn’t bother you, one of the app’s cool features is that you can see which betting tipsters are on a good winning streak, should you decide to follow them.

Whereas the welcome offer is pretty decent, allowing you to claim up to £30 in free bets after placing a qualifying bet of £10, there’s not much in the way of other promos beyond that, which is a slight disappointment. 

Smarkets was founded in 2008, is licensed by the UK Gambling Commission and Malta Gaming Authority and has offices in London, Los Angeles and Malta. 

Smarkets is backed by a consortium of European investors, including former last.fm chairman Stefan Glaenzer, in addition to the companies Passion Capital and Deutsche Telekom.

Smarkets use of technology

Like some of the other top betting operators in the world, Smarkets is as much a tech company, as it is a betting one. 

They operate two main products: the Smarkets exchange, and the SBK, an app that’s only available via your mobile phone and works like a regular Sportsbook. 

But here’s where the technology comes into play: the Sportsbook prices are drawn from the Exchange and presented in a sleek, easy-to-find, clear manner, on the Sportsbook interface.  

Smarkets Mobile App

Like any self-respecting tech-focused company, Smarkets boasts a first-class mobile app. Here are some of its key features:  

  • Available on both iOS and Android.
  • Quick links to all of the most popular markets. 
  • Bet on a range of in-play markets. 
  • Watch live streaming of selected events. 
  • Bet with full exchange functionality. 
  • Allows you to track the trades of live in-play events. 
  • You can register an account via the app. 
  • Make deposits and withdrawals via the app. 

Smarkets User Experience & Interface

One of the impressive features of the site is the ability to select either a light or dark theme, with preference going for the latter. 

A slider is prominent in the centre of the homepage, the site is available in three languages (English, Swedish and Portuguese) and high-quality photos of top sportspeople populate the site.

But perhaps the most eye-catching element of all are the interactive graphs available for all betting markets that display the fluctuations in prices, as well as the different runners/outcomes displayed as an implied probability. For example, if Arsenal are 1.56 to win a match, their implied probability is 63.29% and the site will tell you that, alongside the probability of the other outcomes in the market.  

Smarkets Betting Markets

There are generally around 20 different sports to bet on.

One of the slight problems at a betting exchange is one of liquidity, meaning that on some of the less popular sports, tournaments within those sports or certain betting markets within those tournaments, there may be markets with poor liquidity. Where this is the case, customers may struggle to have their bets matched at reasonable odds or if they do, they may not be able to strike bets for the amounts of money they desire. 

This can happen at Smarkets, particularly on less popular sports, though big events like Premier League matches or ODI cricket matches, generally have plenty of liquidity. 

Smarkets rarely offer price boosts or enhanced odds as it’s just not part of their overall marketing strategy. 

Smarkets Horse Racing Offers

At the time of writing, there aren’t any horse racing-specific offers, such as Best Odds Guaranteed or price boosts. 

They do however offer markets on racing from the likes of the UK, Ireland, USA, Australia, Japan and South Africa, in addition to ante-post markets such as the biggest races from the Cheltenham Festival. 

Smarkets Live in-Play Betting

Clicking on the In-Play button in the top-left part of the homepage will display all the events that are currently available in live betting. 

They generally have football matches at the top, followed by other sports such as cricket, basketball or tennis

Admittedly, they don’t have nearly as many in-play markets as some of the top sportsbooks but on the plus side, the ability to back and lay on events, known as trading, means that you can bet at ever-changing odds and guarantee yourself a profit irrespective of the final outcome.

Smarkets Betting Accumulators

Accumulators, or accas if you prefer, are available on both the Sportsbook and exchange, allowing you to try to win large sums of money from relatively small stakes.  

Smarkets Bet Builder

The Bet Builder tab is the third one from the left on selected football matches, next to ‘Popular’ bets. 

After clicking on the relevant tab, customers can choose different selections from different markets revolving around the same match and combine them in a Bet Builder. 

Customer Service

Your first port of call for trying to resolve any problems should be to refer to their articles that are there to help you avoid the need for you to contact Customer Service. So for example, if you need further information about making a deposit, type ‘deposit’ into the search box in the Help Centre section and choose the most relevant article to do with making deposits. 

If that doesn’t solve your query, you can contact Smarkets via the following ways:

(Logged in users only, 09:00-23:00 GMT)

  • Post

1 Commodity Quay, St. Katharine Docks, London, E1W 1AZ, United Kingdom

Most problems should be resolved by reading their articles but for the most part, the Customer Service Department is efficient and knowledgeable. However, there may be a few delays when it comes to responding to emails or having to wait for them to pick up the phone. 

Smarkets Payment Methods

Like with most betting companies, the payment options available to you when it comes to getting your money in and out of Smarkets are mostly a combination of debit cards and e-wallets. Of the two, e-wallets are generally advised for being quicker, as well as more secure.

Depositing 

Payment MethodProcessing TimeMin DepositMax Deposit
Instant Bank Transfer Instant£/€10No maximum amount.
Visa debit card Instant£/€10No maximum amount.
Solo/Maestro Card Instant£/€10No maximum amount.
NetellerInstant£/€10£/€5k daily max
SkrillInstant£/€10£/€5k daily max
TrustlyInstant£/€40No maximum amount.
Bank TransferInstant£/€10No maximum amount.
MasterCard/EurocardInstant£/€10No maximum amount.
PayPal Instant£/€20£/200 daily max.

Withdrawals

Payment MethodProcessing TimeMin WithdrawalMax Withdrawal 
Instant Bank Transfer 12 hours£/€10No maximum amount.
Visa debit card 1-6 business days. £/€10No maximum amount.
Solo/Maestro Card 1-6 business days. £/€10Limited to deposit amount for some cards
Neteller1-2 business days. £/€10No maximum amount.
Skrill1-2 business days. £/€10No maximum amount.
Bank Transfer5-10 business days. £/€20No maximum amount.
MasterCard/Eurocard1-6 business days. £/€10Limited to deposit amount for some cards
PayPal 1-2 business days. £/€20£/5.5k 

Smarkets vs Other Bookmakers

It’s with remembering that there are two products falling under the Smarkets brand: the betting exchange and the Sportsbook. 

As we’ve said already, the Sportsbook is a decent product but perhaps not in the same class as other top bookmakers like Bet365, Ladbrokes or Betfred, while having that additional issue of only being available as a mobile app. 

As for the betting exchange, one of its biggest assets is how the site is very easy on the eye, with some good pictures and useful graphs making it a more attractive site than other exchanges. 

And whereas the likes of Betfair has a somewhat complex policy to paying commission where you essentially choose how much you want to pay (2%, 5% or 8%) and get bigger rewards for the higher it is, here it’s just a flat 2% in the vast majority of cases. Only the biggest users of all pay more: 3%. 

On the flipside, the liquidity here is less than on Betdaq and far less than on Betfair, meaning you can’t always get matched at good prices or for large amounts of money. 

Smarkets Responsible Gambling Policy

As you’d expect, Smarkets take responsible gambling extremely seriously and have a dedicated section on their site to address different elements of it. 

That includes information on setting deposit limits, using gambling site blocking software, self-excluding and setting loss limits. 

They also provide a self-assessment tool that can help determine if you have, or are developing, a gambling problem. 

For anyone who does feel they need to seek help, they also provide a list of support agencies, such as Gamblers Anonymous, and contact details for them, should you feel yourself or someone you know may need some support. 

Smarkets FAQ’s (frequently asked questions)

So that’s our review for Smarkets done where by now you should have a good idea of what it’s all about. Let’s round things off with some Frequently Asked Questions. 

Can you cash out on Smarkets?

Rather than having a Cash Out function, the Smarkets exchange has a Trade Out function. Where it’s possible for you to Trade Out, a green button will invite you to do so, also detailing the odds at which it will be done and the amount you’ll receive if the Trade Out goes through. You’ll then need to confirm your Trade Out before it’s processed. 

Can I use my Smarkets Free Bets on any Market?

Yes, any free bets awarded by Smarkets can be used on any market of your choice. 

How long does Smarkets take to withdraw?

That depends on the payment method you’re using for the withdrawal. E-wallets such as PayPal and Neteller are the quickest, taking 1-2 business days, while debit cards take 1-6 business days and bank transfers are the slowest of all with the waiting time being 5-10 business days. 

Do you pay commission on Smarkets?

Yes, the vast majority of customers pay a flat 2% commission on winning bets. But the most active Smarkets customers who exceed £25,000 in net profit over the previous 12 calendar months will pay 3%. But this really is a small minority. 

What is the Smarkets maximum payout?

There is no maximum payout. As long as your bet was placed daily and correctly settled, there’s no limit on payouts. 

How secure is the Smarkets app?

The app uses cutting-edge technology to ensure that your money and data are safe at all times and that there’s no risk of anyone else logging into your account via the app.  

Can you cancel a bet with Smarkets?

On the Sportsbook, no. Once it’s been processed you’ll just have to wait and hope for the best. On the exchange, you can cancel a bet at any time as long as it hasn’t been matched by that point. Just go to the market and hit ‘Cancel’.

Will I incur any loss if a bet is canceled or voided?

No. In both cases the bets will appear on your account statement but in neither case are you financially penalised as a result. 

What documents are required to verify my Smarkets account?

You will need to produce one of the following documents as proof of ID: Passport,

Driving licence with photo or National Identity card. As proof of address, any of these will do: Bank, Building Society or Credit Union statement (dated within the last 3 months), Utility bill (dated within the last 3 months), Local authority tax bill/council tax bill (current year) Tax bill (current year), or a Residency certificate issued by local government authority (dated within the last 3 months). 

How Can I submit a complaint with Smarkets?

Here’s all the information regarding making a complaint with Smarkets. Essentially, it’s a case of sending an email to [email protected], who should respond within two days. If you feel Smarkets haven’t adequately dealt with your complaint  or are dissatisfied with the end result, you can always get in touch with IBAS (Independent Betting Adjudication Service) at [email protected].