Smarkets?

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pecheli
Posts: 25
Joined: Fri Apr 27, 2012 6:12 pm

I do realize there is thread about them on this subforum but it sort of is derailed.

So what is your honest opinion on Smarkets? They offer 2% commission, great odds(very similar to those of Betfair to be honest but lower commission), offer API service etc.
Anyone here use them for trading or in combination with other exchanges or even bookies? Hedging?

TL;DR Do you use Smarkets for trading?
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jimrobo
Posts: 1289
Joined: Wed Mar 25, 2009 12:49 pm

Can't self match, no api products, low liquidity. Company seem keen to develop though and have good customer service.
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

Hey guys,

We're having an Open House for existing and prospective customers. If you're in London, please stop by. We'll be around to answer questions, you can try us out if you haven't yet and we'll be providing food and drink.

More here: http://blog.smarkets.com/2012/10/24/sma ... pen-house/

Cheers!
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Smarkets recently announced it had raised US$2.3m from T-Venture, Deutsche Telekom’s venture capital arm. Getting financial backing from such a major player inevitably brings confidence to a young company looking to marry trading with betting. But how will it achieve this and what can we expect from Smarkets in the near future? iGaming Business spoke with Jason Trost, founder and chief executive of Smarkets, to find out more. - See more at: http://www.igamingbusiness.com/content/ ... INboa.dpuf

http://www.igamingbusiness.com/content/ ... e-smarkets
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kelpie
Posts: 341
Joined: Sun Dec 30, 2012 12:40 am

Can Bet Angel work with smarkets?
armadillo
Posts: 21
Joined: Sat Nov 16, 2013 10:04 pm

I think Smarkets is starting to be a serious competitor to Betfair, just the fact that Betfair are matching their commission rate for Premier League for this month makes me think they're already turning heads. If Smarkets ever open their API, stop having outages at 14:55 on a Saturday they will be taking some serious market share.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I'd imagine smarkets are in a catch 22 situation with keeping their market makers happy by limiting API to the masses.
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Any competitor needs to be a pure exchange and not seed. The market needs to be king or it will fail.

This is why, long term, I think blockchain type exchanges will dominate.

I can only use Betfair and Betdaq as I win too much for seeded exchanges to consider me a 'good' customer.
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

The problem Smarkets has though, is they need to seed the markets to create confidence in new customers that the liquidity is there to trade.

I know a few years back they were exploring the possibility of API's, so I'd be interested to know what their stance and long-term objectives are now
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3virgul14
Posts: 84
Joined: Wed May 26, 2010 8:28 am
Contact:

As an active full time trader with all the experience of 7 years on Betfair , with millions of trade executed, I approached Matchbook executives in a betting fair.

Told them I would be happy to guide them to create an API with perfect user experience and become a good competitor to BF so it would be a win win case for all of us.

All they did was to avoid me and kept me redirecting to some lower level tech guys whom did not have any initiative at all. I gave up soon..

I think an exchange was a dream, it`s fulfilled already and will never reach it`s potential, nor by betfair neither new challengers . Very unfortunate but this is the truth in today`s world... Good things come to an end sooner than shite.. :geek: :roll:
invisiblelayer
Posts: 245
Joined: Fri Sep 10, 2010 7:08 pm

Whats Matchbook like when Betfair is down? A ghost town I'd imagine. I've only used Betdaq as an alternative but that was a while ago, had a WBX account years ago, they sponsored it seemed every race going for a while but hardly any money matched at all. Found it impossible putting orders through early doors on Betdaq unless taking way worse than Betfair for someones bot to gobble it up! I'd imagine its not bad for those getting involved a few mins before the off. Maybe they should offer lower commission on all bets placed before noon just to try and get the punters in? but then again its weak enough on Betfair these days, pretty sure they did that on Betfair certain days midweek, probably going back a decade or so mind.
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