- Editorial4.00
- Trustpilot3.30 (550 reviews)
- App Store4.80 (4.6k reviews)
- Google Play3.10 (1.3k reviews)
Score3.84
Smarkets UK Review - Is It Safe or a Scam? (2025)
Smarkets is a brilliant UK betting exchange that has been in the industry since 2010. In this review, we put the site to the test, signing up, verifying our account, depositing real money, placing bets and withdrawing funds. All to give you a full, honest look at what it's really like to play at Smarkets UK.
Pros
- Low betting exchange commission at 2%
Cons
- Difficult sign-up if you have an SBK account
Smarkets Overall Score
| Bonus | 3 |
|---|---|
| Sportsbook | 3 |
| Customer Support | 4 |
| Payment | 5 |
| Licensing Safety | 4 |
| Design and Usability | 4 |
| Overall | 4 |
It is difficult to give Smarkets a score, being completely honest. As an exchange site, it is very good, but Smarkets is not trying to be a regular sportsbook. There is a lot to like, such as low margins, a lot of markets and good streaming options, all of which make it a solid choice.
However, for those looking for a sportsbook, we would advise you to look at the sister site SBK instead. The benefits of very low prices are still present, as you can often get much better prices offered by other bookmakers. Additionally, you will not have to pay a commission on any winnings - provided you have not already got a Smarkets account.
Like everything in sports betting, it is a case of preference. If you want an exchange, Smarkets is for you, but if you want traditional betting, SBK would be our suggestion.
Key Information About Smarkets
| ⚽ Football Coverage (PL game) | 150+ markets |
|---|---|
| 🏇 Horse Racing Coverage | UK, Ireland + International |
| 🏦 Betting Margins (Average) | 1.22% |
| 👷 Bet Builder | ✅ |
| 📱 Mobile App | ✅ |
| 💰 Minimum Deposit | £10 |
| 👉 Visit Site | Join Smarkets |
About Smarkets
Smarkets launched in 2008 and since then has grown to be one of the biggest betting exchanges in the UK. More than a million pounds per day are traded on the site, which is incredible, and there are no signs of that slowing down.
Claiming to be a 'modern, fairer way to bet' on its website, it would be difficult to disagree, given its margins are among the lowest we have seen in the betting market - as you would expect with a betting exchange. And the commission is set at a reasonable 2%, all in all, not bad.
Many may also know Smarkets through its sportsbook app, SBK, though we will get into that later in this review. Furthermore, we will also take a look at everything that Smarkets' sportsbook has to offer. We will also highlight the pros and cons, so that you can make an informed decision about whether to sign up or not by the end!
Is Smarkets Legit and Safe?
🔒 Smarkets' UKGC License: 33562
As is required to operate in the UK, Smarkets is completely licensed and regulated by the UK Gambling Commission, ensuring that the site adheres to strict guidelines to keep customers safe. To put it shortly, this means there is no need to fear about the site's safety or legitimacy.
📊 Smarkets' Trustpilot Rating: 3.4/5
Reading customer reviews is important, but not always defining for betting sites. We always, with our reviews, look at the Trustpilot scores recorded and Smarkets is well-rated for a bookmaker, at 3.4/5.
With that said, though, 59% of the reviews are 1-star, which is quite an overwhelming majority. Many complain about the payment times, whilst others state that the site can be rather eager to close accounts.
💰 Has Smarkets Been Fined by the UKGC?
Smarkets, unfortunately, has been fined previously and it certainly was not a slap on the wrist either. In 2022, as the UKGC states, the site was made to pay a penalty of £630,000 due to anti-money laundering and social responsibility failings.
Since then, there have been no issues, and the company's CEO admitted that Smarkets 'fully accepted' the fine. In other words, the site seems to have learned its lesson.
SBK Accounts
For those of you who have already got an account with SBK, you will not be able to create an account with Smarkets, as the former is just a branch of the latter. However, you will also not be able to just sign into Smarkets with your SBK credentials.
We contacted Smarkets/SBK for some help here, and this is what was said:
"If you wish to also use Smarkets, please let us know, as there is a commission rate of 2% on net winnings per market on Smarkets. This commission rate would also apply bets placed on SBK. Additionally, you will no longer be eligible for SBK promotions. If you're happy to proceed, we can update your commission rate and open your account for access to Smarkets."
This means there are ways to get around the situation. However, whether it is beneficial is another thing entirely.
Smarkets Welcome Offers
Smarkets' sign up offer is nothing outrageous for an exchange. In fact, it is a pretty standardarised offer; customers will be able to use the exchanges for free (with a 0% commission) for 60 days.
A decent offer, yes, and a way to get involved with the exchanges definitely. However, the aforementioned links to SBK could be worth using here. Should you wish to, you could sign up for SBK and claim the welcome offer for the site, and then use Smarkets with this account, as we detailed in the SBK section.
It depends on how much you will use the site. If you only want to try it, it is probably better to use the free bets on SBK. However, the free commission may be nice to dip your toes into. Either way, the choice is, of course, yours.
| Operator | Welcome Offer | Bonus Code | Claim Offer | |
|---|---|---|---|---|
| | Welcome Offer Trade on 0% for 60 days using code COMMFREE | COMMFREE | Claim Offer | Use code COMMFREE to trade with 0% commission for 60 days. New UK, IE & Malta users only. Min. £10/€10 first deposit using card or online banking. Full T&Cs apply. 18+. BeGambleAware.org |
 | Welcome Offer Bet £10 Get £40 in Free Bets | No code required | Claim Offer | New UK customers only. Min £10 first deposit using Debit Card or Bank Transfer. Place a bet of £10 at min odds of 2.0 and get a £10 Football Bet Builder token upon settlement. A £10 Multiple, £5 Horse Racing Multiple, and £5 Football Bet Builder token after 24 hours. A further £10 Multiple token after 48 hours. Minimum 3 legs. Full T&Cs apply. 18+. BeGambleAware.org. |
Smarkets' Deposit Methods
As you would expect with an exchange betting site, there is more attention to payment methods, and the list of available operators is better than we regularly see from typical sportsbooks. Debit cards, Mobile Payments and e-wallets are all accepted, which is really nice.
Below, we have collected everything you need to know about deposits at Smarkets. It is worth mentioning that we deposited on SBK, with the processes remaining the same, as confirmed by the support team:
| Payment Method | Min. Limit | Max. Limit | Transaction Fee | Processing Time |
|---|---|---|---|---|
 Visa | £10 | £3,500 | No fee | Instant |
 Mastercard | £10 | £3,500 | No fee | Instant |
 Skrill | £10 | £3,000 | No fee | Instant |
 Neteller | £10 | £3,000 | No fee | Instant |
 Trustly | £10 | £10,000 | No fee | Instant |
 Bank Transfer | £10 | £10,000 | No fee | 5-10 business days |
 Paypal | £25 | £250 / Daily | No fee | Instant |
How to Deposit at Smarkets
If you are new to the process, you can read our step-by-step guide for depositing funds into a Smarkets account below. It should be noted that we used the SBK deposit area, due to the issues with Smarkets, but the process is identical.
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Tap the Wallet Icon
After downloading and opening the Smarkets app, tap the wallet icon in the middle of the screen, and this will pull up the cashier tab. The process is very streamlined, in other words.
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Choose the Deposit Method
From here, you will be asked to pick a deposit method, and we were left impressed with the number of options available. Following this, you will be asked to insert your payment details.
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Enter the Deposit Amount
Once you have entered your details, enter the amount which you would like to deposit. Of course, this has to be a minimum of £10, or £25 if you are using PayPal.
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Complete the Deposit
Finally, tap the green deposit button. Then, you may be asked to verify your payment with your bank, and following this (if successful) your deposit will be completed.
Smarkets' Withdrawal Methods
When making withdrawals, there are a few limitations that customers must be aware of, notably that you cannot withdraw with a new method. However, this is the industry norm, so there is little reason to worry here.
Below, we have collected everything you need to know about withdrawing funds at Smarkets:
| Payment Method | Min. Limit | Max. Limit | Transaction Fee | Processing Time |
|---|---|---|---|---|
| Visa | £10 | Not specified | No fee | 24 Hours |
| Mastercard | £10 | Not specified | No fee | 1-6 business days |
| Skrill | £10 | Not specified | No fee | 1-2 business days |
| Neteller | £10 | Not specified | No fee | 1-2 business days |
| Trustly | £10 | Not specified | No fee | 1-2 business days |
| Bank Transfer | £20 | Not specified | No fee | 5-10 business days |
| Paypal | £10 | £5,500 | No fee | 1-2 business days |
How to Withdraw From Smarkets
If you are new to the process, you can read our step-by-step guide for withdrawing funds from a Smarkets account below. Once again, we used the SBK cashier for withdrawals, but the process is the same.
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Tap the Wallet Icon
In the app, you need to tap the wallet icon in the middle of the screen. Then, you will have a 'Withdraw' option available to you, provided that you have made a deposit before. In most betting apps, you have to go to a 'Profile' area to reach this screen, but this is not the case here.
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Choose Method and Enter Amount
Once you have tapped on 'Withdraw', as shown in the previous step, you will be brought to a cashier. Here, you need to choose the payment method and enter the withdrawal amount, before tapping on 'Continue'.
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Tap 'Confirm Withdrawal'
Smarkets will now show you a confirmation screen of the withdrawal request. Make sure that the information is correct and then tap on 'Confirm Withdrawal' to complete the request.
How to Verify an Account at Smarkets
Betting sites now must implement the Know Your Customer process, also referred to as KYC by some. Smarkets is no different, and this is why signing up requires so many personal details. However, it is easier than providing different documents.
On some occasions, you will need to provide some additional information via documents, but this is normally a rarity. The list of what documents may be required can be seen below:
- Proof of ID: Passport, Driving licence with photo, National Identity card
- Proof of Address: Bank statement, utility bill, tax bill (dated within the last 3 months)
This could happen for a number of reasons, but there is no real need to panic if it does. At BettingLounge, we have had numerous experiences with this with even some of the biggest UK bookmakers. In other words, there is nothing to fear about this, and it is easily solveable.
Smarkets Sportsbook Review
Smarkets offers 21 different sports for customers to get their teeth into. As you would expect, football and horse racing are the most popular - as shown with the amounts traded on them - however, customers will also find 'TV and Specials', 'News and Politics' and e-sports markets. In other words, you will be covered by the bookmaker.
⚽ Football Offering
Most of the money on the football markets comes on the full-time results, with popular fixtures having more than £100,000 almost 12 hours before the fixture kicks off. However, punters can also find more than 150 markets to bet on for most elite fixtures, like the Premier League and Champions League.
As Smarkets is an exchange, something which we will get to later, the margins are very low, meaning there is a lot of money there for customers on these markets. Perhaps, this means that the value you get is better.
Furthermore, customers can use the popular 'Bet Builder' tool with Smarkets, and again, the markets are very fair.
🏇 Horse Racing Offering
Betting exchanges are so popular with horse racing because they allow punters to bet against each other, rather than against the bookmaker. As a result, the prices are normally better, and whilst the risks are slightly higher, the rewards can also be much greater.
In terms of exchanges, the site is right up there with the best platforms in the industry, and this shows with the mind-blowing amounts traded on races. In recent years, the Cheltenham festival has seen more than £1 million traded through its course. Staggering figures. Live streaming is also available, which helps massively.
🕹️ Esports, Specials and More
As mentioned, there are loads of different markets away from sport, and this shows with three big and sometimes rare markets being offered. Customers can bet on political events in 2029, whilst also betting on European and American politics.
The 'TV and Specials' markets are not great, with only a few markets displayed at once. Nevertheless, them being there is nice. As you would expect with the E-sports range, customers will be well looked after, with Dota 2, CS2, League of Legends and Valorant all available to bet on.
📊 Commission
Commission for all customers on Smarkets is 2%, which is quite good considering other exchanges start at the 5% range. However, if you choose to bet with SBK as well as Smarkets, you will also be charged the commission.
In other words, if you enjoy SBK and don't want to pay commission on their prices, it may be worth looking elsewhere at other exchange sites without the same limitations.
Smarkets' Mobile App
Customers will be glad to know that Smarkets offers mobile apps for iOS and Android users, though this is to be expected with the site as big as it is. When betting on exchanges too, speed is of the essence, so having the tool at your fingertips is a must-have.
Browsing the app is made very simple with the elegant and effective design. Whilst placing a bet is very easy to do, meaning you should not have any issues when it comes to quickly taking advantage of the exchange prices.
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Smarkets
Google Play
App Store
Smarkets Responsible Gambling
Every bookmaker is now placing much higher focus on responsible gambling. There are several reasons for this, mainly as the risk of addiction has never been as high, whilst the UKGC are handing out big fines to those who do not offer the needed tools. Therefore, Smarkets offer several tools to aid customers with gambling responsibly:
- Deposit limits (daily, weekly and monthly)
- Time-outs
- Reality checks
- Self-Exclusion
It is also worth mentioning that the site places GamSTOP and Gamble Aware adverts quite prominently across the page, meaning that you are easily reminded that the tools are there. Whilst the support sections also hold a prevalent place in the 'Profile' area. In other words, Smarkets has a high focus on safety.
Smarkets Customer Support
Customers can get support from Smarkets in three different ways, either through live chat, social media or via email. However, there is also an in-house FAQ section, which is the reccomended port of call for users.
The FAQ area has three sections: Betting, Account & Payment and 'Using Smarkets'. Each has several sub-sections, so getting support should be relatively easy. However, there is also a general FAQ bit to browse too.
We found that the live chat was the quickest method of getting assistance, and this was not a real shock. However, the speed at which the advisor aided us was. Rather than taking several minutes at a time to reply, we were assisted in less than a minute with each question, which was really positive.
All in all, you should be covered in the event of needing help from the site.
| Chat | Yes |
|---|---|
| [email protected] | |
| Phone | - |
Opening hours
| 7 days a week | 08:00-22:00 UTC |
|---|
How to Get Started at Smarkets
If you would like to create an account at Smarkets, and don't have an SBK account, follow our step-by-step guide on how to do so below:
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Head Over to Smarkets and Tap on 'Sign Up'
You could also use our link at the top of this page, which will bring you straight to the welcome offer and the sign-up process.
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Create Account Details
The first step is to create your account details. Here you will need to decide on a password, as well as provide your email address. A completely regular step here, so nothing to fear.
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Provide Personal Details
From here, you will need to scroll to the personal details section, and provide your name, address and Date of Birth - again, very standard, so nothing to really be concerned by here at all.
Then, confirm you accept the terms, and complete the sign-up process.
How to Get Started at Smarkets with an SBK Account
If you would like to create an account at Smarkets, and have an account with SBK, there is still the possibility to join the site. To do so, sign into your SBK account and go to the live chat, from here, explain that you want to join the site and they will take you through the steps.
There is some downside to this, unfortunately, as the commission will also be charged on any SBK winnings. A rather frustrating thing indeed.
User Reviews
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