Smarkets: the honest guide

Founded in London in 2008, Smarkets brought financial-market engineering to betting exchanges: clean technology, transparent pricing, and a straightforward 2% commission. It also has the friendliest API terms of the four — free, once approved.

Figures on this page checked 9 August 2026.

What it is, and who it suits

Smarkets runs a modern exchange with an emphasis on tight spreads and low cost, plus a distinctive line in politics and current-affairs markets. It suits cost-conscious traders, football and politics specialists, and anyone who values a modern platform.

Strengths

• Low, transparent commission. 2% on net winnings per market — and only on markets where you profit. High-volume traders (1,500+ bets or £1m+ staked in a month) qualify for a 1% Pro tier.
• Modern platform and API. A clean REST API with published rate limits (1,200 requests per minute by default) and no access fee.
• Good football and politics liquidity. Popular football markets trade tightly; politics markets are a genuine speciality few rivals match.

Weaknesses

• Racing depth. Horse-racing liquidity has grown but remains behind Betfair — and behind Matchbook on some cards. Serious racing traders will want a second book connected.
• A surcharge tier exists. A small number of the most profitable accounts (over £25,000 net profit across 12 months) are moved to a 3% "Select" tier — far milder than Betfair's winners' surcharge, but not nothing.
• API access is gated. Free, but you must apply and be approved — Smarkets reviews requests against its exchange-health guidelines, so access isn't instant.

Commission and charges

• 2% of net winnings per market (standard); 1% Pro tier for high-volume accounts; 3% Select tier applied to a small set of the most profitable accounts. Sources: Smarkets' commission breakdown and commission FAQ.

Getting API access, step by step

(Process per Smarkets' "API Access, Integration & T&Cs" help article, checked 9 August 2026.)

1. Open a Smarkets account at smarkets.com and complete verification (18+, KYC).
2. Complete the API Request Form (linked from Smarkets' help centre and docs.smarkets.com). Describe your intended usage honestly — requests are reviewed against Smarkets' exchange-health guidelines.
3. Wait for approval. Once approved, API access is activated on your account. There is no fee; the default rate limit is 1,200 requests per 60 seconds.
4. Connect in BetTrading.net: add Smarkets on the connections screen with your Smarkets credentials — see Connecting your exchanges. BetTrading.net manages the API session for you, renewing it automatically.

Smarkets in BetTrading.net

• The low-cost leg — with price routing, matching prices are worth more on Smarkets' 2% than on a 5% book.
• Session care built in — BetTrading.net proactively renews Smarkets API sessions, so long trading days don't end in silent sign-outs.
• Football trading — tight pre-match football spreads pair well with BetTrading.net's chart-first Market View.