Smarkets Increases Users and Launches App
October 2, 2019
Smarkets is a leading UK betting exchange and whilst it is a privately owned business it still publishes an Annual Report which provides much detail on its activity and profitability. The 2018 Smarkets Annual Report is available online and shows a significant increase in Users during the year to 29 199 average monthly users.
Whilst this is still a long way behind Betfair which is the UK’s largest betting exchange it continues Smarkets continued expansion of recent years. The number of new sign-ups over the year grew by over 35% to 69,000 and traded volume on the Exchange increased by a whopping 46% to over 4,500,000,000!
We have an in-depth review of Smarkets available on-site – check it out today.
The FIFA World Cup certainly had a very positive impact on the increase in volume at the operator with over £415M traded and certain games during the tournament reached new high levels for the amount traded in a football match. The 2018 Grand National also set records showing the highest traded amount on any individual event at £57M.
Chief Executive Jason Trost commented on the results “Smarkets is now in the best shape it has ever been in and we can push ahead with expanding our activities, focusing on the more profit-generating areas of our business, and more efficiently monetising our growing trading volume, as well as taking the company out into the huge sportsbook sector and new international markets.”
The focus for Smarkets in 2019 was primarily an expansion into the growing sports betting scene in the USA whilst also improving further and consolidating its position in the UK via the launch of a new sports betting APP branded as SBK.
Smarkets has enjoyed great success with it’s Exchange APP and it features an impressive rating of 4.8 on ios and will be hoping to replicate its success with the Sportsbook App in a much bigger market.