Introduction to Betfair vs Smarkets

When it comes to trading and matched betting online smarkets and betfair are now the two top names in the betting exchange industry. Basically, betters can place there bets against another human being rather than the bookmaker. They allow better prices, no gubbing and people are able to trade on any market and to green out. However there is so much more and I will cover that all below.

Understanding the Concept of Betting Exchanges

So betting exchanges have literally changed the way the whole industry operates. before you could only place a bet on an outcome through bookmakers. Now you can place a bet on that outcome not happening, now even better than that its against another human who thinks it will happen! So what does this mean?

Bookmakers make there money from there margin basically there odds they give you are not the “implied odds” so lets take the flip of a coin its 50/50 right. However a bookmaker will give you 55/45 in there favour meaning over the long run they always win. This is what they do with the odds to ensure yes you might have the odd win but overall you will always lose.

Betting exchanges giver you the proper real world odds meaning you make more money than you would at the bookmaker.

Betfair – How can it help you

Betfair, established in 2000, was the first of the betting exchanges being the first peer to peer platform. The platform offers a plethora of features and functionalities to enhance the user experience. One of the amazing features of Betfair is their Cash Out option, allowing punters and traders to end there bet on an exchange before the event has finished. This means in tight or volatile markets the user can cash out at any-time for his profit or if he is in a losing position close it for a loss.

Features and Functionalities of Smarkets

Smarkets, founded in 2008, is a relatively newer player in the betting exchange market but has quickly gained a reputation for its user-friendly interface and competitive odds. So whilst smarkets has a lot of the options and tools of betfair for me betfair when trading is a lot simpler and easier to navigate. However smarkets does not charge a commission rate for users who have an oddsmonkey account its currently 0% this means you pay no commission on an bet which profit wise is amazing!

Comparing the User Experience of Betfair and Smarkets

Betfair offers a really simple layout and as betfair offers the sports book you can flip between both at the switch of a button. The platform may appear overwhelming to beginners due to its extensive functionalities and complex interface. Smarkets focuses on simplicity. Smarkets as you see is very minimalist and just has the basics.

Commission Structure and Fees of Betfair and Smarkets

So as I spoke earlier about smarkets is 0% if you have and connect via your oddsmonkey account click here for your free trial. If you don’t and just want o use it on its own its 2%. Betfair is also 2% but does have a 5% model on this 5% they reward you will free bets and other goodies across there platform. So if you are a user who does not use it often this might work in your favour.

They also have something call the betfair premium charge. This is for users who are making huge profits from there platform we are talking 20k plus per month the exact fees and criteria are very vague but once you start hitting huge profits this will kick in. I did speak to Smarkets on this they said at the moment they don’t have anything like this, but I’m sure as it grows this will change.

Liquidity and Market Availability on Betfair and Smarkets

Liquidity refers to the volume of money available for betting on a particular market. It is an important factor to consider as higher liquidity ensures better odds and a smoother betting experience. Betfair always has the most liquidity so with that you are always guaranteed the best prices so this means more profit for you. Smarkets is not far behind but it is, so expect price differences just because there is not enough people placing there money in the market hoping to get there bet matched meaning price will not be as good.

Security and Trustworthiness of Betfair and Smarkets

Security is a top priority when it comes to online betting. Both smarkets and betfair are backed by the governments gambling regulations so they are trustworthy. Another note i suppose is if you have 10K in it is it safe? That again is personal preference whilst I really can t see then folding any-time soon makesure to not leave vast sums in these places unlike a bank they do not have the same protection for you money.

I look to only have 4k in each one at any one time.

Customer Support and Community Engagement on Betfair and Smarkets

Good customer support is essential for me speed is the most important and this where both excel at. Betfair offers a comprehensive customer support system, including live chat, email support, and an extensive help centre. Smarkets also provides reliable customer support through live chat and email.

Pros and Cons of Betfair and Smarkets

To summarize the disadvantages of Betfair and Smarkets:

Betfair Pros:

Extensive features and functionalities
Wide range of markets and betting options
Higher liquidity
Established reputation

Betfair Cons:

Higher commission rates
Complex interface for beginners

Smarkets Pros:

User-friendly interface
Competitive commission structure
Increasing liquidity
Responsive customer support

Smarkets Cons:

Limited market coverage compared to Betfair

CTA: Start your betting journey with either Betfair or Smarkets today and experience the excitement of betting exchanges firsthand! Remember to gamble responsibly and make informed decisions.