Smarkets takes a stand for integrity by providing a superior online investment platform that facilitates honest, user-centered trading in regard to sports, politics and current events.
Who is Smarkets?
We began as a small group of investors and developers who saw the potential to apply financial trading principles to the online sports world. With that in mind, we set out to make a difference in the industry by developing an online platform focused on honest, user-centered trading.
The Full Story
Smarkets is a betting exchange that offers a secure and transparent platform for trading on sporting, political and current affairs events. The company was founded in 2008 by a team of finance and software engineering professionals and is backed by a consortium of private investors. As an exchange, Smarkets facilitates peer-to-peer betting where users set their own odds and bet against each other not only before an event starts but right up until the end of any event. Taking the role of the industry challenger, Smarkets is set to outperform the competition by offering consumers access to its agile trading platform at unparalleled value. By creating a modern betting exchange that combines cutting edge technology with a focus on transparency and treating the customer fairly, Smarkets is leading the innovation in the sports betting industry.
With a background in Finance and Software Engineering, Co-founder and CEO Jason Trost has brought his knowledge of trading systems to the gambling industry. Smarkets has assembled a team with a wealth of technical expertise, allowing them to focus on developing a well-engineered product. The trading platform was written using the Erlang programming language, and provides a resource-orientated API. This focus on the product means that the Smarkets platform is fast and efficient, capable of processing a transaction in milliseconds and coping with over a thousand transactions per second. With continuing attention to the site’s engineering and speed, Smarkets are gearing up their platform to pose a serious challenge to other established betting exchange operators.
Smarkets offers trading opportunities on all major sports, and has previously received media coverage for its range of niche and special markets on Politics, TV and Entertainment, and Current Affairs. Functioning as a prediction exchange, Smarkets markets have been used to predict the outcomes of major events, including elections, awards ceremonies, and sporting fixtures. This is because the prices on a Smarkets market can be considered as an indication of the collated knowledge of all traders participating in the market. If a price increases, the event outcome is considered to be more likely to occur, while if the price is low, the occurrence of this outcome is considered less likely. During the 2010 UK General Election, Smarkets markets were a good indication of who would win the leaders’ debates. More recently, Smarkets markets have predicted the outcome of the Labour Party leadership and the 2012 American Presidential Election.
The access to deep market data makes Smarkets markets a useful tool for media outlets who wish to anticipate the outcome of events. Many media organisations habitually quote the odds of a bookmaker to give an indication of the likelihood of an event occurring, and betting exchanges offer even more accurate predictions of future events. Smarkets odds have been quoted by a number of media outlets, including the BBC, City AM, Bloomberg, the Financial Times and the New Statesman.