SBC News Voice of the Sports Betting Industry
Having filed its 2015 annual report (period ending 31 December), professional online betting exchange Smarkets has declared corporate profits of £5.2 million up 1568% on 2014’s corresponding £316,000.
The London-based operator disclosed that its 2015 exchange wagers had hit the £1 billion mark, with Smarkets governance reporting year revenues of £10.4 million up 429% on FY 2014’s £1.95.
Commenting on his firm’s strong momentum CEO Jason Trost stated that Smarkets had delivered on its goal of creating a ‘unique customer experience’ for a saturated market place.
“Smarkets is going from strength to strength with a momentum that is undeniable and I am confident of the success of our journey to deliver the unique customer experience that we strive for, and to establish ourselves in the top tier of technology companies” Trost stated
Trost would further praise the performance of Smarkets engineering team, which had built its in-house developed sports betting platform capable of increased Scalability and meeting consumer demands.
“Our advanced trading platform has now handled over £3 billion worth of bets, and an increasing number of customers are benefiting from our best prices and industry-leading 2% flat commission.” Trost added
Founded in 2008 by Jason Trost and an executive team of finance and software engineering professionals, Smarkets has become a leading industry start-up gaining backing from top European venture capital funds T-Venture and Passion Capital.
