Betting exchanges play a pivotal role in matched betting meaning we have a lot to thank them for.
If you’re new to betting or you’ve never heard of the term betting exchange, you can find out more by checking out this article: A beginner’s guide to betting exchanges.
In short, they are online marketplaces which match two gamblers looking to place opposite bets. They differ to traditional sportsbooks in that the exchanges take on no bets themselves.
A betting exchange makes money by charging a commission on a player’s net winnings.
Each has its own benefits and drawbacks which you can find out more about in our specific reviews.
Since their formation back in 2008, Smarkets have stood apart from other betting exchanges in the field.
Their accepting nature of allowing and encouraging different bettors has won them many fans across the globe and especially in matched betting circles.
So, it came as a surprise when I heard they were putting plans together to open a Sportsbook platform.
Typically, sportsbooks are not known for their transparency and they’re usually in the industry just to make money.
Smarkets to launch Sportsbook platform
As one of the leading betting exchanges and one of the most popular for matched betting, we’re always interested in any news related to Smarkets.
They’ve already built one of the fastest growing tech companies, making it into The Sunday Times Tech Track100 and Deloitte Fast50.
Much to mine and many other people in the matched betting industries amazement, Smarkets are considering launching a Sportsbook.
This is a surprising move as Smarkets have always been at the forefront of making gambling more transparent and opening it up to more people including traders.
The arrival of a sportsbook will mean that they are moving towards more traditional strategies. In our view, this is slightly out of character for Smarkets.
However, on the flip side, you will see why it’s an intelligent move.
Why Smarkets would launch a Sportsbook
Smarkets are not the first and are unlikely to be the last betting exchange to launch a Sportsbook.
It looks like the perfect progression and diversification. Smarkets are already one of the leading betting exchanges so they now can focus their efforts elsewhere to gain more market share from the sportsbook industry.
Smarkets CEO, Jason Trost, says the company will introduce a ‘true price’ sportsbook with odds based on their betting exchange – a unique selling point which should continue to set Smarkets apart from other betting companies.
So far Smarkets has spent around $5 million developing their new platform which will support their existing betting exchange.
It will be interesting to see how well they do over the next 2 years or so as they develop their sportsbook platform and take on larger rivals like Bet365, Ladbrokes and Coral.
This move also coincides with the new ability to bet in the US, something CEO Jason Trost is keeping a close eye on.
When should we expect the launch?
Smarkets have already launched a beta platform, however, it will likely be a few months before the platform is available to all users.
Be sure to stay tuned in at The Sure Bettor for all the latest information on Smarkets.
How will this affect our matched betting?
This move by Smarkets is unlikely to affect our matched betting in any way.
As we’ve already mentioned, Smarkets are one of the most accepting betting companies out there. They’re happy for pretty much anyone to place bets on their betting exchange platform.
But will this change once they’ve opened their own sportsbook?
Judging by what Jason Trost, the CEO of Smarkets has said, I doubt it.
Jason Trost said:
‘There’s a huge opportunity in terms of people wanting the best prices, but not wanting to go to the exchanges.’
I’m looking forward to seeing a more transparent sportsbook in the industry and I do think this will be great news for matched betting in 2019 and beyond.
New matched betting offers
One of the most important matched betting tips is to complete as many bookmakers offers as possible. It’s therefore great news when a betting company opens its doors for the first time.
The more bookies that offer promotions, the more money you can make in 2018 and beyond.
Smarkets are likely to launch a range of promotions which matched betting can take advantage of.
Overall, this new platform is great news for matched betting and the betting industry as a whole.
During a time when regulation is heating up and traditional bookies are struggling it’s good to see a company doing so well.
For that, congratulations Smarkets!
That’s it for today. Thanks for reading and watch this space.