Smarkets - can it take on Betfair/Betdaq?

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switesh
Posts: 527
Joined: Mon Jul 11, 2011 8:43 am

I stumbled across this post yesterday and would like to hear people's thoughts on it. Has anyone tried it?

http://sportstradinglife.com/2011/07/ja ... ternative/

The website is https://smarkets.com/
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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Are these the jokers that take commission per BET as opposed to per market? As they want to discourage pro's.
These are city boys. I also question where there liquidity comes from.

We debated all this before. I for one will keep sucking up the 60% PC (with reluctance)
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

Hi mugsgame just wanted to respond to your concerns.

Our commission is calculated per market, not per bet. We're now offering a commission rate of 2%.

As far as liquidity goes, we have market makers but are always looking to add more. You can check out our API here: http://smarkets.github.com/

Please let us know if you have any other questions.

Thanks
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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

I stand corrected.

I must have got you guys mixed up with someone else.
Please except my apologies for my ill judges comments.
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

mugsgame wrote:I stand corrected.

I must have got you guys mixed up with someone else.
Please except my apologies for my ill judges comments.
No problem - hope you will consider trying us out.
mister man
Posts: 363
Joined: Tue Jul 27, 2010 2:10 pm

good luck smarkets,now i know of you ill be monitoring your progress, with a view to diving in at some point,if the waters seem inviting enough.
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Someone has just tweeted (during Betfair's downtime):

trouble is Smarkets follow Betfair odds so all of a sudden - all of the odds have also vanished from their site. #notclever

That makes me wonder whether Smarkets' market makers hedge on Betfair...

Jeff
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

mister man wrote:good luck smarkets,now i know of you ill be monitoring your progress, with a view to diving in at some point,if the waters seem inviting enough.
Thanks - what markets do you generally trade on? We're having an open house on January 26th in London. Always open to hearing suggestions as we want to make the best product available. More details can be found here, hope to see some of you out: http://bit.ly/zYsCID
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

Ferru123 wrote:Someone has just tweeted (during Betfair's downtime):

trouble is Smarkets follow Betfair odds so all of a sudden - all of the odds have also vanished from their site. #notclever

That makes me wonder whether Smarkets' market makers hedge on Betfair...

Jeff
Hi Jeff - one of our main market makers hedges via betfair, so they may pull their odds during an extended period of bf downtime. Our users can continue to bet by setting their own odds and going peer to peer.

As stated in the reply above, if you're in London feel free to stop by our open house in two weeks to chat more: http://bit.ly/zYsCID
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

FYI: Our mobile site is live and we're trialling EUR for new accounts.
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

Hi everyone - just wanted to inform you about the new deposits and withdrawals fee structure that will be implemented at Smarkets on Monday, March 12th. You can read full details here: http://blog.smarkets.com/2012/03/06/rev ... structure/

Any questions, let us know.

Thanks
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Nice timing, bringing in £10 withdrawal charges just before Cheltenham, a new angle to entice in new accounts I suppose :roll:
mister man
Posts: 363
Joined: Tue Jul 27, 2010 2:10 pm

mmm charge to deposit and then charge to withdraw!!!

shame, i really had high hopes for them, but into the bin they go.
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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

I have a question:

Why post this on our forum?

Don't you have your customers contact details?
Boing
Posts: 134
Joined: Thu Feb 23, 2012 4:06 pm

If Betdaq can't make a go of it I'm not sure others can either. Especially if they charge to deposit or withdraw money, did I read that correctly or is that a wind up?
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