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On this page
- Quick verdict
- Smarkets at a glance
- Smarkets sign up offer (checked 20 October 2026)
- Offers for existing customers
- Is Smarkets legit? Licence and safety checks
- Before you sign up with Smarkets
- Sports and markets
- Odds and features
- The Smarkets app
- Payments and Smarkets withdrawal times
- Safer gambling tools at Smarkets
- Pros and cons
- Frequently asked questions
- Sources checked
Last reviewed 20 October 2026. Licence details checked on the Gambling Commission public register; payments checked on the Smarkets help centre; app and offer details checked on Smarkets’ App Store listing. The Smarkets promotions page blocked our access.
Quick verdict
Smarkets is a betting exchange: you bet against other customers rather than a bookmaker, and can back (bet for) or lay (bet against) an outcome. It makes money by charging commission on winnings. Its help centre lists a broad range of payment methods including PayPal, its app is rated 4.8/5 from more than 4,600 ratings, and its App Store listing advertises a 60-day 0% commission offer for new customers. Exchanges suit people who understand odds and liability – laying a bet can cost much more than your stake would on a normal bet.
Smarkets at a glance
| Licensed company | Smarkets (Malta) Limited – Gambling Commission account 39173. Remote betting intermediary licence active (start date on the register 1 November 2014); smarkets.com listed as an active domain. A separate company, Smarkets Limited (account 33562), holds a software licence. Register checked 20 October 2026. |
|---|---|
| Launch year | Not verified. |
| Payment methods | Instant Bank Transfer, Visa, Maestro, Mastercard, Neteller, Skrill, Bank Transfer, Trustly and PayPal (Smarkets help centre). |
| Minimum deposit | £10 first deposit needed for the welcome offer; general minimums not verified. |
| Withdrawal times | Not verified. Minimum withdrawal £10 (bank transfer £20); PayPal withdrawals up to £5,500. Withdrawals go back to the method you deposited with where possible. |
| App | Yes – iOS app on the UK App Store (listing), provider shown as Smarkets; rated 4.8/5 from 4,634 ratings when checked. We did not test it. |
| Live streaming | Not verified. |
| Cash out | Exchange bets can be traded out by placing an opposite bet; we didn’t verify a cash out button. |
| Bet builder | Not verified. |
| Customer support | 24/7 live chat, per the app listing. |
Smarkets sign up offer (checked 20 October 2026)
New customers. Min £5 deposit. First bet only: min £5 single/each-way at odds 1/1+ within 30 days of registration. 3 x £10 Free Bets (singles/each-way, excl. virtuals), expire after 30 days. Free Bet stakes not returned. Neteller and Skrill deposits excluded. No wagering on Free Bet winnings stated.
Promo code:
AB5G30Three separate £10 Free Bets, usable on singles and each-way.Full T&Cs
New Sky Betting and Gaming customers 18+ only (previous Sky Bet, Vegas, Casino, Bingo or Poker account holders excluded). Register, add card details and make a minimum £5 deposit. Your first bet must be a single or each-way bet of at least £5 on any Sky Bet market at odds of 1/1 or greater; accumulated smaller stakes do not count and only your first bet counts. Staking requirement must be met within 30 days of registration. Rewards: three £10 Free Bet tokens, usable on any single or each-way market excluding virtuals, not with any other offer. Free Bets expire 30 days after crediting, are non-withdrawable and stakes are not included in returns. One claim per customer. Customers depositing with Neteller or Skrill do not qualify. Offer may differ if you arrive via another link. Sky Bet General Promotion Terms apply.
New customers. Opt in at sign-up. Deposit £10+ and place a £10+ bet at odds 1/1+ within 7 days (excl. virtuals, esports, non-UK/IE racing). 4 x £10 Free Bets: 2 for football accas (4+ legs), 2 for sports multiples (2+ legs), valid 7 days. Free Bet stake not returned.
Rewards credited on settlement of one £10 qualifying bet, win or lose.
Full T&Cs
New BetMGM customers 18+. Select the Sports Welcome Offer at sign-up. Deposit at least £10 and place at least £10 on a qualifying bet within 7 days of registration: min odds Evens 1/1 (2.0); each-way bets need £10 each way (£20 total); Bet Builder total odds must be 1/1+. Excludes virtual sports, esports and non-UK/IE horse racing. Free Bets, Profit Boosts, Odds Boosts, void, cashed-out, partially cashed-out and system bets do not qualify. Not with other offers. On settlement you get 4 x £10 Free Bets: 2 x £10 on football accas (4+ selections) and 2 x £10 on sports multiples (2+ selections), selected via the betslip checkbox. Free Bets expire after 7 days; stake not included in winnings. Once per household/computer/IP. Operated by LeoVegas Gaming plc (UKGC 39198). General and promotional T&Cs apply.
New customers. Opt in at sign-up. Deposit £10+ and place a £10+ bet at odds 1/1+ within 7 days (excl. virtuals, esports, non-UK/IE racing). 4 x £10 Free Bets: 2 for football accas (4+ legs), 2 for sports multiples (2+ legs), valid 7 days. Free Bet stake not returned.
Same LeoVegas offer structure as BetMGM, with UK/IE racing allowed for the qualifier.
Full T&Cs
New BetUK.com customers 18+. Opt in by selecting the Sports Welcome Offer at sign-up. Deposit at least £10 and place at least £10 on a qualifying bet within 7 days of registration: min odds Evens 1/1 (2.0); each-way needs £10 each way; Bet Builder total odds 1/1+. Excludes virtual sports, esports and non-UK/IE horse racing. Free Bets, Profit/Odds Boosts, void, cashed-out, partially cashed-out and system bets do not qualify. Once only; not with other offers. On settlement: 2 x £10 Free Bets on football accas (4+ selections) and 2 x £10 on sports multiples (2+ selections). Unused Free Bets expire after 7 days; stake not included in winnings. Operated by LeoVegas Gaming plc (UKGC 39198). General Promotional and General T&Cs apply.
Smarkets’ App Store listing (checked 20 October 2026) describes a new customer offer of 0% commission for 60 days using code COMMFREE. Significant terms listed there: a first deposit of at least £10 is required; deposits by Skrill, Neteller, PayPal and virtual or prepaid cards don’t qualify; and API users aren’t eligible. We couldn’t open Smarkets’ promotions page to confirm full terms, so see operator for current offer before relying on this.
A commission-free offer isn’t a free bet: it only lowers the cost of winning bets, and you can still lose your stake (or your liability on a lay bet). For how stake-not-returned tokens are valued, see how free bets work; for play-through conditions, see wagering requirements explained. Compare other current deals on our free bets page.
Offers for existing customers
We didn’t verify ongoing promotions for existing Smarkets customers. Exchanges generally compete on commission rate rather than free bets, so check the commission terms in the help centre. Bookmaker-style promotions such as acca insurance generally don’t apply to exchange bets.
Is Smarkets legit? Licence and safety checks
On 20 October 2026 the register showed Smarkets (Malta) Limited (account 39173) with an active remote betting intermediary licence – the licence type for a betting exchange – and smarkets.com as an active domain. You can check this yourself: scroll to the footer of the Smarkets site, note the company name and account number, and search it on the Gambling Commission public register. Check that the licence status is “Active”, that it covers remote betting, and that the exact domain you’re using is listed. A licence means the operator must verify your age and identity, hold customer funds under disclosed protection rules, offer safer gambling tools and use an approved dispute resolution service. It doesn’t mean any bet is safe from loss, and it doesn’t guarantee good service.
Before you sign up with Smarkets
- Decide your budget first, and set a deposit limit when the site prompts you – before your first deposit.
- Read the significant terms beside the welcome offer: qualifying stake and odds, payment exclusions, expiry and any restrictions on how the free bets can be used.
- Check that your preferred payment method is accepted and qualifies for the offer.
- Have ID ready. Licensed operators must verify you before you can gamble, and may ask for more documents before a withdrawal.
- Only place the qualifying bet if it’s a bet you would be happy to make anyway. If the offer doesn’t suit how you bet, you don’t have to take it.
Sports and markets
Smarkets lists exchange markets on sports and on politics and current affairs (its app is titled “prediction markets”). Liquidity – how much money is available to match your bet – varies a lot between markets. We didn’t verify the full sports list.
Odds and features
On an exchange you can back or lay, set your own odds and wait for someone to match them, and trade out of a position before the event ends. Commission is charged on net winnings from a market; we saw a 2% standard rate quoted in summaries of Smarkets’ help pages but couldn’t confirm it directly, so check the current rate with Smarkets. Exchanges usually don’t offer a bookmaker-style bet builder (see our bet builder guide for how those work). Exchange odds are often close to “true” prices, but after commission the comparison with a bookmaker depends on the market.
The Smarkets app
Smarkets’ iOS app was rated 4.8/5 from 4,634 ratings when checked. The listing mentions 24/7 live chat. We didn’t test it.
Payments and Smarkets withdrawal times
The Smarkets help centre lists deposits by Instant Bank Transfer, Visa, Maestro, Mastercard, Neteller, Skrill, Bank Transfer, Trustly and PayPal. Deposits are instant for all methods except standard bank transfer, which takes 3–5 business days. The minimum withdrawal is £10 (£20 for bank transfer) and PayPal withdrawals are capped at £5,500. Smarkets operates a closed-loop policy, so withdrawals return to the method you used to deposit where possible. Note that PayPal, Skrill and Neteller deposits don’t qualify for the welcome offer. See our PayPal betting sites list.
Safer gambling tools at Smarkets
We did not verify Smarkets’ safer gambling tools on an official page. Remember that laying a bet means you could lose your liability, which can be many times the backer’s stake.
Whichever bookmaker you use, set a deposit limit before your first deposit (licensed operators must prompt you to), decide your budget in advance and never chase losses. GamStop lets you self-exclude from all online gambling sites licensed in Great Britain for free at gamstop.co.uk, and many banks let you block gambling transactions. The National Gambling Helpline (0808 8020 133) is free, confidential and open 24 hours a day. See our responsible gambling page for more.
Pros and cons
What we found positive
- PayPal and a wide range of payment methods.
- Highly rated app.
- Exchange lets you set your own odds and lay outcomes.
What to be aware of
- Commission rate not confirmed on an official page during our check.
- Laying can expose you to large losses.
- Welcome offer excludes e-wallet and prepaid card deposits.
Frequently asked questions
Is Smarkets legit?
Smarkets (Malta) Limited holds an active Gambling Commission remote betting intermediary licence (account 39173), with smarkets.com listed as an active domain (checked 20 October 2026).
What is the Smarkets sign up offer?
Its App Store listing describes 0% commission for 60 days with code COMMFREE and a £10+ first deposit. See the operator for current terms.
Does Smarkets accept PayPal?
Yes, but PayPal deposits don’t qualify for the welcome offer, per the app listing.
What is a betting exchange?
A platform where customers bet against each other; the exchange charges commission on winnings instead of setting the odds.
What is the Smarkets minimum withdrawal?
£10, or £20 for bank transfer, per the help centre.
Sources checked
All sources below were checked on 20 October 2026. Where a fact could not be confirmed on an official source, we have said so or left it out.
- Gambling Commission register – Smarkets (Malta) Limited (39173)
- Smarkets help centre (deposits and withdrawals)
- Smarkets – Trade with 0% for 60 days (terms)
- Smarkets – App Store listing
Read more: free bets · how free bets work · responsible gambling · all UK betting site reviews
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18+ only. Please gamble responsibly. For free, confidential support visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.