The British betting exchange Smarkets was founded in 2010 by two young programmers, Jason Trost and Hunter Morris.
The firm, works under licenses from the United Kingdom Gambling Authority, and the Malta Gaming Authority. Unlike the betting exchange Betfair, Smarkets offers commission as low as 2%.
As a betting exchange, all betting is peer-to-peer rather than against a bookmaker; Smarkets allows traders to agree odds amongst themselves. Establishing a reputation for its political betting, Smarkets also offers betting on sports, current affairs and popular culture.
However, the number of markets and liquidity they offer is relatively poor. We have seen a number of companies trying to compete with Betfair, by offering lower commissions. Unfortunately the majority of these do not achieve success.
Products and apps
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as an arbitrator
Doesn't lower the maximums