Smarkets Horse Racing

Welcome to our review of the Smarkets betting exchange – a gambling site with a difference.

If you’re keen on widening your betting options, not finding yourself beholden to the whims and odds of a regular bookmaker, exchange betting on Smarkets horse racing could be a way to win some impressive sums.

Find out more about Smarkets:



New customers only. Deposit £20 using Debit Card or Trustly. Up to your first £20 of losses will be refunded as CASH within 24 hours of qualifying bet having been settled.

Full T&C's Apply

Overview of the Smarkets Website and Brand

Many of the reviews that you’ll find on this site pertain to a traditional bookmaker. This Smartbets review is a little different, as this service is a betting exchange. This means that all your bets on Smarkets will not be against a bookie. Instead, you’ll be pitting your wits (and your money) against your fellow gamblers.

Betting exchanges are gaining in popularity, but we happen to consider Smarkets one of the finest. We recommend opening a betting account with this site if you’re experienced in this kind of gambling – you could win substantial sums. If you’re in the early days of your betting education, however, consider sticking with more straightforward horse racing betting initially.


Welcome Offers for New Customers

If you’re considering opening a new account with the Smarkets betting exchange, you’ll naturally be keen to know what welcome bonus will be thrown your way. Like all online bookmakers, the Smarkets platform tempts new punters to open an account. In this instance, it’s a £10 welcome bonus.

To qualify for a welcome bonus with Smarkets, make your first deposit of £20 (or a currency equivalent) into your account. You’ll need to use a qualifying deposit payment method, such as a bank transfer or debit card.

Once this is done, Smarkets will refund your first £10 of losses (again, or a currency equivalent) back into your account. If your first bet is a win, this welcome bonus will roll over until you lose. Check the Smarkets home page for further details before you make your first deposit.

Ongoing Promotions and Offers

Alas, ongoing loyalty bonuses are where this betting exchange falls down compared to some online bookmakers. While the first deposit of new customers will earn a reward, you will not get any more perks for future Smarkets betting. You can still win money from your bets, but how much you claim will be based on the fractional odds you lay on your bets – no bonus will be payable. The £10 welcome bonus is the only customer offer available to

Events to Bet On – Sports Markets

Horse racing is our bread and butter here, but many punters also like to investigate other sports betting options. UK punters interested in this betting exchange beyond horse racing can also trade sports betting odds on a wide array of sports markets and current affairs.

Whether you’re keen on utilising betting markets on football, ice hockey, gymnastics or the next election. Naturally, though, horse racing is hugely popular on Smarkets – UK and international alike – and you won’t struggle to find opportunities to win big and make a profit.

Mobile Betting and App

Any online bookmaker that hopes to attract attention needs a mobile app. This is especially important for a horse racing betting exchange, when odds can vary and fluctuate quickly. Thankfully, Smarkets offers an iOS and Android app that acts as a mirror of the website. Whether you’re making your first deposit or are regularly placing money in your account, the app makes life easy.

Does Smarkets Offer In-Play Betting?

Smarkets does offer live, in-play betting, though the options are slightly limited compared to some rivals. All the same, keep checking in – you’ll find that the odds available for your betting will vary, sometimes for the better.

Does Smarkets Offer Live Streaming

Sadly, no. While Smarkets will provide a virtual image of what is unfolding for anybody betting on this site, you cannot watch live streaming.

Payment Methods and Depositing with Smarkets

For some punters, choices for how to pay for betting is a dealbreaker on whether to use a site. Thankfully, Smarkets offers a wide array of choices.

Payment Methods Accepted by Smarkets

If you’re looking to place a bet with Smarkets, you can enjoy the following payment methods:

  • Bank transfer
  • Debit card
  • Pre-paid MasterCard
  • Neteller
  • Skrill
  • Trustly
  • PayPal

Withdrawal Options

Punters can withdraw from their Smarkets account, using the same payment details used for betting. The winnings obviously depend on the odds when the bet was placed, and the payment is usually quite fast. Just don’t expect a bonus!

Who Owns Smarkets?

Smarkets is owned by Jason Trost, a businessman living in Los Angeles. However, Smarkets has an address based in the United Kingdom, ensuring that betting remains domestic. The registered address for Smarkets is:

1 Commodity Quay

St. Katharine Docks




Smarkets is fully licensed by all relevant gaming authorities, including those based in the UK and Malta. This means that punters can bet with confidence.


The software API of Smarkets is currently undergoing a complete renovation. The existing version works fine, but fingers crossed, it will be even greater in due course. You’ll find more details on the Smarkets site.

Smarkets Customer Support

Not having a professional bookie involved does not mean that Smarkets does not have a help centre. Getting assistance is a key part of safe and enjoyable negotiation of the gambling markets. Smarkets live chat is available 24/7, while you can also email the business using the address [email protected], tweet them at @SmarketsTech, or call Smarkets on +44 207 617 7413.


Is Smarkets a traditional bookmaker?

No, Smarkets is a betting exchange site. This means that no bookie is involved. Instead, punters lay bets and pay out against each other. Take a look at the best odds on offer and decide if this is the gambling model for you.

Is Smarkets recommended for a gambling novice?

Not really. As we have mentioned throughout this Smarkets review, this site is not a straightforward bookie. If you only place one bet a year on the Grand National just for fun, you’ll get better odds on other betting sites. We only recommend opening an account with Smarkets if you know your way around this world.

Does Smarkets offer the best horse racing betting odds?

The term “best odds” is in the eye of the beholder, but either way, it’s largely irrelevant to Smarkets. The fractional odds available on this site will vary depending on your fellow punters – there are no odds guaranteed. Keep checking in to find the best odds to maximise your potential profit.

Can you watch horse racing on Smarkets?

In a way. If you have a Smarkets account you can watch visualisations of horse racing and other sports events. Live streaming is not available, though. Look for a third-party screening – there are plenty available all over the UK and beyond.

Does Smarkets cover horse racing outside Great Britain?

Yes, you can bet on horse racing all over the world using a Smarkets account. You will not be restricted to betting on horse racing within the United Kingdom and Ireland.

Does Smarkets pay out winnings quickly?

“Quickly” is a subjective term, but most customers are happy with the withdrawal time offered by this site. Smarkets review all withdrawal requests to ensure the bet was placed legally, but if you paid your qualifying deposit using a bank card or bank transfer you may receive your money within 12 hours.

How do I get free bets with Smarkets?

Smarkets does not offer free bets (or any equivalent) as a bonus for customers. The best you will enjoy is a refund of your first £10 of losses when betting with the bookie, after making your first deposit.

What is the minimum deposit with Smarkets?

Like all betting sites, Smarkets has a minimum qualifying deposit to place in an account. If you are betting using a current account card or bank transfer, the minimum deposit is £10. If using an e-wallet service, it’s £20. Unless using a card or bank transfer, deposit limits of £5k per 24 hours are also in place.

Can I lay bets with a credit card on Smarkets?

No, as per the recommendation of the UK Gambling Commission, you cannot use a credit card to add funds to your Smarkets account. Bets must be placed using a debit card or bank transfer, or an e-wallet service.

Is Smarkets regulated by the UK Gambling Commission?

Yes, Smarkets is regulated by the UK Gambling Commission and the Malta Gaming Authority. You can bet with confidence.

Is the Smarkets app worth downloading?

Yes, if you plan to bet on horse racing or other sports through Smarkets, it’s highly advisable to download the app. This way, you can place several bets while on the move, check the odds on whether you’ll win, and see what other customers are up to in real time.

Does Smarkets support self-exclusion?

Whether you are betting with a standard bookmaker or playing the betting exchanges, you need to ensure you gamble responsibly. If you feel that you are struggling to control your gambling and find yourself betting against your better judgment, Smarkets allows customers to self-exclude from the site for a set time.

Can I play online casino games through Smarkets?

No, while Smarkets allows punters to play the horse racing markets, you cannot win money on slots or other casino games with this bookie.

Does Smarkets allow gamblers to Cash Out early?

If you’re nervous about a bet and want to lock in a profit, you can Cash Out early on Smarkets. Obviously this means that you risk a smaller win and profit, but equally, it could be better than nothing.

Does Smarkets have a good reputation with punters?

Smarkets has a solid reputation as a safe, reliable place to bet on horse racing and other sporting markets. While the occasional loyalty bonus would be nice, UK and overseas punters can still open an account with confidence.

Final Thoughts

This concludes our Smarkets review. We hope this has provided you with necessary insights into this betting exchange, and helped you decide whether Smarkets is the betting site for you. If you’re keen to test your sports gambling wits against other punters, Smarkets is arguably the ideal location for new customers. You could win big. Just complete your betting education before you start to experiment with a betting exchange.

Other Betting Sites For You to Consider

If you enjoyed our Fansbet review but the Fansbet bookmaker is not for you, we also highly recommend these betting sites, check them out today:

I’m a huge fan of online slots and love to write about all the latest games and new releases. As a Digital Marketing Specialist, I’ve been blogging for a number of years and have an interest in online games. My articles have been shown on a range of different sites in the gambling industry.