SBC News Voice of the Sports Betting Industry
Online betting exchange Smarkets has announced that it has reached its £1 billion trading milestone, aided by wagering recorded during this year’s Cheltenham Festival and Grand National racing events. The operator stated that the £1 billion milestone represented the continued positive momentum of its betting exchange services for the UK market.
Further detailing its recent exchange performance, Smarkets noted that it had witnessed its Cheltenham Festival wagering increase by 320% year-on-year. The company additionally disclosed that it had ‘smashed’ its one-day trading record during this year’s Grand National, recording a revenue increase of 359%.
The operator’s management was pleased with the improvements that its betting exchange product had undertaken in recent months, simplifying its usability to improve customer engagement. The growth of Smarkets’ exchange has seen the operator offer more competitive odds and betting markets at a set 2% commission rate for its customers.
Jason Trost, Founder and CEO of Smarkets, commented on his company’s achievement
“I believe that our growth has proven that there is room for a challenger brand and more in the market. Combining transparency, together with integrity and excellent odds, is a truly compelling proposition for any customer.”
“During our performance at Cheltenham and the Grand National, we’ve seen an 80% increase in new registrations, and the word is getting out that we’re a sure bet for the market, something that thousands of other loyal customers have known about for some time now.”
