October 28, 2010
We’ve had a lot of positive feedback about our unprecedented 1% commission for 100 days offer ever since we introduced it on our first birthday. And with it being a successful week at Smarkets, with us surpassing £1 million traded and being short-listed in the Startups.co.uk Awards, we’d like to recognise our customers in some way.
So we’re going to extend it even further.
The offer will now end on January 7th 2011, giving an extra 71 days of low commission to customers who deposit over £100. T&Cs apply.
October 26, 2010
We’re pleased to reveal Smarkets has been shortlisted in the ‘VC/Angel backed Business of the Year’ category at this year’s Startups.co.uk awards. The last six months have seen a huge growth in our site, and having surpassed £1 million traded on Saturday, Smarkets is quickly building up momentum.
We’re looking forward to the awards ceremony on December 2nd. Wish us luck!
October 25, 2010
The weekend saw a bit of Smarkets history being made. As Techcrunch have reported, shortly before 3:00 PM on Saturday a small bet on a League Two football match took Smarkets’ total lifetime traded over the £1 million mark.
This is a huge milestone for us, and shows how we’ve been gaining traction in the tough online betting market. In the past weeks, we’ve seen increasing activity on our site, with more sign-ups, more matched bets and more payouts, and this growth looks set to continue.
We’re very pleased with our success so far, but we’re not complacent. The coming months will see us rolling out new features and more market types, and we will be working hard to make sure that the betting experience with Smarkets is the best on the web.
October 22, 2010
We’ve taken at look at the weekend’s big matches (Sunderland v. Villa, Man City v. Arsenal, Real v. Santader, Villareal v. Althetico, Inter v. Sampdoria and Napoli v. AC Milan) to see which site had the best value for the punter.
We looked at William Hill, Paddy Power, Ladbrokes, Betfair and Smarkets and placed a £10 bet on all the winner, correct score and ht/ft markets to see what would happen (of course you wouldn’t be able to bet on every single outcome, but this is the fairest comparison of price).
Compared to Smarkets, the average payout is:
William Hill are 78% worse
Paddy Power is 33% worse
Ladbrokes are 123% worse
Betfair are 4% worse
So, even taking into account commission (and not even thinking about the premium charge…), you’re better off with Smarkets!
All the numbers can be found here
October 15, 2010
A big thanks to all of you who came to our Open House last night. We had some great conversations about the gambling industry, prediction markets and on what we can be doing to improve. We’ve already starting work on some of your suggestions.
The event was a great way to meet our customers (and naysayers!) and will definitely be repeated again.
October 13, 2010
October 8, 2010
Its been a busy week for our political markets at Smarkets. Yesterday evening the media were widely tipping Yvette Cooper as Shadow Chancellor after her topping the Shadow Cabinet poll and a dramatic shortening in her odds that afternoon. However, in the event, it was Alan Johnson who swiped this key position.
Timetric have analysed our data and produced some nice statporn for us. The resulting graphs provide a useful tool for anybody wanting to see how opinion on the markets shifted over the last few days up until the announcement at lunch time today.
Anyone who had an early punt on Alan Johnson would have been well rewarded. As the data shows, he came out of pretty much nowhere once the final 19 candidates were known, and how he only became favourite shortly before the final announcement the next day.
Check out more detailed data on Timetric’s website. All timestamps are UTC.
October 6, 2010
Trading on a betting exchange can be a complicated thing, so we’ve collated a vast amount of our betting and market trading knowledge and put it all together in the Smarkets Academy for your reading pleasure.
Whether you’re new to market trading and want to know about odds and risk management, or if you’re a little more advanced and looking for hedging and bookie bonus arbitrage tips, the Smarkets Academy should be able to answer your questions.
We’ll be adding content (and a search box) as we write it, but if you want something covered just let us know.
October 1, 2010
Most betting sites have a horrific registration process and we’re pretty proud of our progressive disclosure that gets customers registered within a minute, deposited within four and matching their first bet in under nine minutes. That said, in the quest to minimise form filling, we had been a bit slack with email opt-in/out.
No one likes receiving email they didn’t approve, and I’ve been wincing every time we send out an email to our customers because many didn’t explicitly approve the contact. Well, that’s all changed.
Don’t worry, we won’t be increasing the number of emails we send, it’s just good to know that now our members can easily set their preference.