Smarkets and Betfair Exchange are two of the most popular betting exchanges in the UK. Both offer a wide range of sports markets and competitive odds, attracting a large number of customers. However, there are some key differences between the two platforms that may influence which one you choose to use regardless of whether you use the OddsMonkey matched betting instructions or not.
One of the main differences between Smarkets and Betfair Exchange is their commission rates. Smarkets charges a flat 2% commission on all winning bets, while Betfair Exchange’s commission rate varies depending on the amount of money you have won. This means that Smarkets may be a more cost-effective option for those who place many bets or win frequently.
Another difference is the user interface. Smarkets has a simple and easy-to-use interface, making it ideal for beginners or those who prefer a minimalist design. On the other hand, Betfair Exchange has a more complex interface with more features and options, making it better suited for experienced matched bettors who want more control over their bets.
In case you are unaware and are asking yourself, ‘What is matched betting?’ you can learn about that first before playing.
What Is Smarkets?
Smarkets is a UK-based betting exchange that was founded in 2008. It is licensed and regulated by the UK Gambling Commission and offers a platform for users to trade bets on a variety of sports and events.
One of the key features of Smarkets is its low commission rates, which are set at 2% for all markets. This is significantly lower than the industry standard of 5% and makes Smarkets an attractive option for users looking to maximise their profits.
Smarkets also offers a user-friendly interface that is easy to navigate, with a range of tools and features to help users make informed betting decisions. These include live price updates, detailed market information, and a range of charting tools to help users analyse trends and patterns in the market.
Another advantage of Smarkets is its focus on security and reliability. The platform uses advanced encryption technology to protect user data and transactions and has a strong track record of uptime and performance. Smarkets is a reliable and user-friendly betting exchange that offers low commission rates and a range of tools to help users make informed betting decisions. While it may not have the same level of liquidity as some of its larger competitors, it remains a popular choice among users who value low fees and a secure, reliable platform.
What Is The Betfair Exchange?
Betfair Exchange is a popular betting platform that allows users to place bets on various sports events and other markets. The platform operates on a peer-to-peer betting system, meaning users can either back or lay bets against each other rather than against the bookmaker.
One of the main advantages of Betfair Exchange is the ability to place lay bets, which means betting against a particular outcome. This is a unique feature that is not available on traditional bookmaker platforms. The platform also offers a wide range of markets, including sports such as football betting, tennis, and horse racing, as well as political and entertainment markets.
Betfair Exchange offers competitive odds and allows users to trade their bets in real-time, which means that users can adjust their bets based on the changing odds. The platform also offers various tools and features, such as live streaming, cash-out, and in-play betting.
In terms of user experience, Betfair Exchange has a user-friendly interface and offers a mobile app for users to place bets on the go. The platform also provides customer support through various channels, including email, phone, and live chat.
Smarkets vs Betfair Exchange: User Interface
When it comes to user interface, both Smarkets and Betfair Exchange have their own unique designs and features.
Smarkets has a simple and sleek interface that is easy to navigate. The homepage displays the most popular upcoming events and markets, making it easy for users to find what they are looking for quickly. The left sidebar contains all the sports and events available for betting, and users can filter by date and time. The bet slip is located on the right-hand side of the screen and updates in real-time as users add or remove selections. Overall, Smarkets’ interface is intuitive and user-friendly.
Betfair Exchange, on the other hand, has a more complex interface with a lot of information displayed at once. The homepage contains lots of information, which can be overwhelming for new users. However, once users get used to the layout, it offers a lot of flexibility and customisation options. The left sidebar contains all the sports and events available for betting, and users can filter by date, time, and even specific markets. The bet slip is located in the middle of the screen and updates in real-time as users add or remove selections. Betfair Exchange also offers a dark mode for users who prefer a darker interface.
Smarkets vs Betfair Exchange: Mobile Use
In terms of mobile apps, both Smarkets and Betfair Exchange have well-designed apps that offer all the same features as the desktop versions. Smarkets’ mobile app has a similar design to the desktop version, with a simple and intuitive interface. Betfair Exchange’s mobile app has a similar layout to the desktop version but with a more condensed design to fit on smaller screens.
Smarkets vs Betfair Exchange: Betting Options
Regarding betting options, both Smarkets and Betfair Exchange offer a wide variety of markets to choose from. However, there are some differences between the two platforms.
Smarkets offers a range of sports markets, including football, horse racing, tennis, cricket, and more. They also offer markets for political events and other non-sporting events. Smarkets focuses on providing a simple and intuitive betting experience with a clean and easy-to-use interface.
On the other hand, Betfair Exchange offers a wider range of markets, including sports, politics, and entertainment. They also offer a range of special bets, such as in-play betting and cash-out options. Betfair Exchange is known for its innovative features, such as the ability to set your own odds and bet against other users.
Both Smarkets and Betfair Exchange offer competitive odds, but Betfair Exchange tends to have slightly better odds overall. However, Smarkets’ commission rates are lower than Betfair Exchange, which can make a big difference over time. There are betting odds calculators available to help users understand the odds on offer across both these sites.
In terms of user experience, Smarkets is known for its simplicity and ease of use, while Betfair Exchange can be a bit more complex and overwhelming for new users. However, Betfair Exchange offers more advanced features and customisation options for experienced users.
Overall, both Smarkets and Betfair Exchange offer a great range of betting options with their own unique strengths and weaknesses. It ultimately comes down to personal preference and which platform best suits your individual needs.
Smarkets vs Betfair Exchange: Odds and Prices
When it comes to odds and prices, both Smarkets and Betfair Exchange offer competitive rates. However, there are some differences worth noting.
Smarkets prides itself on offering some of the lowest commission rates in the industry. The standard commission rate is just 2%, which is significantly lower than Betfair Exchange’s starting rate of 5%. Additionally, Smarkets offers a loyalty program that can reduce commission rates even further for frequent users.
Betfair Exchange, on the other hand, offers a wider range of markets and events to bet on. This can be particularly advantageous for those interested in niche sports or events. Betfair Exchange also offers a feature called “Price Rush,” which automatically searches for better odds on a user’s selected bet and offers them if found.
Both platforms offer live betting and in-play markets, but Smarkets tends to have slightly faster odds updates and a more user-friendly interface for live betting. However, Betfair Exchange has a larger user base, which can result in more liquidity and better odds for popular events.
With Smarkets, from 1st Jan to 26th June 2023, there was an average saving per player on 0% commissions of £83.17. This equates to an average annual saving of £171.50 per player.
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