Smarkets bills itself as a modern, fairer way to bet and trade on sports, politics and current affairs.
Soon, this new style of betting may be available to wager with in US markets.
In September of 2019, Smarkets reached an agreement with Full House Resorts to open sportsbooks in their casinos in Indiana and Colorado. Smarkets hoped to have its SBK online sportsbook up and operational in Indiana by the end of the year but missed that target date.
They also have plans to open an online sportsbook in Colorado before the end of 2020. Sports betting is slated to launch in that state on May 1. Check SBK Sportsbook App by Smarkets and other sport sbetting apps available in Colorado at the moment, including trade apps.
Although they have an agreement with Full House Resorts, recent speculation is that Smarkets will opt to partner in Colorado with Double Eagle Hotel & Casino. They were among seven casinos granted a license earlier this month by Colorado’s Limited Gaming Commission to operate a sportsbook in the state. Full House Resorts doesn’t currently hold a license in Colorado.
What isn’t clear at this stage of the game is whether Smarkets will operate a traditional sportsbook via these venues, or if they intend to bring their burgeoning betting exchange style of wagering into U.S. markets.
BetFair, another sportsbook that offers betting exchanges, has opened sports betting sites in U.S. markets but has opted so far to stay with traditional, old-school style sportsbooks.
Smarkets is a London, England-based company that’s been operating for the past 12 years. Unlike traditional bookmakers who set the odds in betting markets for the public, Smarkets lets the public determine the odds.
This is done via a peer-to-peer platform. The market is driven by supply and demand, which should result in better odds in comparison to those set by a bookmaker. Instead of betting against the house, as a bettor does at a traditional sportsbook, with Smarkets, players are betting against each other.
Smartkets USA Promo Code & Bonus Offers:
|Smarkets Sportsbook Bonus Code:||CHECK CODE|
|No Deposit Bonus:||$10|
|Sign Up Promo & Terms:||$20 on deposit, 21+, Colorado, USA. 2020.|
New Smarkets customers in the UK get a £10 welcome bonus. To access the bonus, a minimum of £20 must be deposited to your account by bank card or bank transfer when you sign up. The same bonuses and sign up promo code offers to be expected for Colorado customers once the sportsbook is live in the USA in 2020. Currently, Smarkets betting app (Android, iOS) is not available to US bettors.
Smarkets betting: how does it work?
Bettors at Smarkets are able to both back and lay an outcome. To back a bet means to take the odds currently on offer with that wager. To lay a bet, a bettor in essence becomes the bookmaker. They are setting the odds on that event.
This ability to trade positions on a wager – this is what they mean by a betting exchange – works in similar fashion to the way a broker would play the stock market.
Smarkets players are able to assess the betting market on an event as the action moves from pregame to in-play. That enables more opportunity for a bettor to find value and in turn, more chance to profit from the outcome of a bet.
Players who look to be a loser on their wager can also trade out of a bet to avoid a significant loss. This method enables bettors to hedge their bets by playing both outcomes on an event to ensure they do no worse than break even.
Utilizing the Smarkets hedging calculator, bettors are able to tabulate exactly how much they need to stake on the opposite outcome to their original wager in order to guarantee market position, regardless of the result.
All of these options are offered with an industry-low two percent flat commission.