About Smarkets

Our Mission

Smarkets takes a stand for integrity by providing a superior online investment platform that facilitates honest, user-centered trading in regard to sports, politics and current events.

Who is Smarkets?

We began as a small group of investors and developers who saw the potential to apply financial trading principles to the online sports world. With that in mind, we set out to make a difference in the industry by developing an online platform focused on honest, user-centered trading.

Press Contact
Contact
Corinna Herbst (Head of Business Operations)
Email
press@smarkets.com
Address
4th Floor North 22-25 Finsbury Square London EC2A 1DX United Kingdom

The Full Story

Smarkets is a betting exchange that offers a secure and transparent platform for trading on sporting, political and current affairs events. The company was founded in 2008 by a team of finance and software engineering professionals and is backed by a consortium of private investors. As an exchange, Smarkets facilitates peer-to-peer betting where users set their own odds and bet against each other not only before an event starts but right up until the end of any event. Taking the role of the industry challenger, Smarkets is set to outperform the competition by offering consumers access to its agile trading platform at unparalleled value. By creating a modern betting exchange that combines cutting edge technology with a focus on transparency and treating the customer fairly, Smarkets is leading the innovation in the sports betting industry.

With a background in Finance and Software Engineering, Co-founder and CEO Jason Trost has brought his knowledge of trading systems to the gambling industry. Smarkets has assembled a team with a wealth of technical expertise, allowing them to focus on developing a well-engineered product. The trading platform was written using the Erlang programming language, and provides a resource-orientated API. This focus on the product means that the Smarkets platform is fast and efficient, capable of processing a transaction in milliseconds and coping with over a thousand transactions per second. With continuing attention to the site’s engineering and speed, Smarkets are gearing up their platform to pose a serious challenge to other established betting exchange operators.

Smarkets offers trading opportunities on all major sports, and has previously received media coverage for its range of niche and special markets on Politics, TV and Entertainment, and Current Affairs. Functioning as a prediction exchange, Smarkets markets have been used to predict the outcomes of major events, including elections, awards ceremonies, and sporting fixtures. This is because the prices on a Smarkets market can be considered as an indication of the collated knowledge of all traders participating in the market. If a price increases, the event outcome is considered to be more likely to occur, while if the price is low, the occurrence of this outcome is considered less likely. During the 2010 UK General Election, Smarkets markets were a good indication of who would win the leaders’ debates. More recently, Smarkets markets have predicted the outcome of the Labour Party leadership and the 2012 American Presidential Election.

The access to deep market data makes Smarkets markets a useful tool for media outlets who wish to anticipate the outcome of events. Many media organisations habitually quote the odds of a bookmaker to give an indication of the likelihood of an event occurring, and betting exchanges offer even more accurate predictions of future events. Smarkets odds have been quoted by a number of media outlets, including the BBC, City AM, Bloomberg, the Financial Times and the New Statesman.

Smarkets In The Press

  1. Smarkets featured in the Sunday Times March 2014 - Jason Trost is interviewed by the Sunday Times about how small businesses can beat the odds.
  2. Smarkets announce new $2.3m funding round Feb 2013 - T-Venture, the investment arm of Deutsche Telekom leads a new funding round along with Passion Capital.
  3. Smarkets in the Independent Aug 2012 - Jason Trost speaks with The Independent about being a UK-based entrepreneur.
  4. Brummell Magazine Profile Apr 2012 - Smarkets CEO Jason Trost is profiled in the April issue of Brummell Magazine.
  5. Inc. Magazine Interview Jan 2012 - Jason Trost is interviewed by Inc. Magazine's Eric Markowitz about online gambling start-ups.
  6. Wired Magazine Feature Nov 2011 - Smarkets is featured on page 53 of the December 2011 issue of Wired UK.
  7. CNN Interview Jul 2011 - Features Jason Trost talking about the horse racing betting revolution.
  8. Smarkets raise $1m May 2011 - Smarkets raises a $1 million funding round led by Passion Capital
  9. BBC Panel Appearance Mar 2011 - Smarkets CEO Jason Trost was a panellist on the BBC Program On The Money where he discussed how Smarkets protects his users' data.
  10. Smarkets feature in the Telegraph Start-Up 100 Jan 2011 - Start-Up 100: The European ecosystem has arrived - or weren't you paying attention?
  11. Wall Street Journal features Smarkets Dec 2010 - The Wall Street Journal Europe identifies Smarkets as one of 10 young European companies that are leading the charge in the continent’s efforts to take on Silicon Valley
A History of Smarkets
  1. Smarkets Grows Up Jul 2013 - Smarkets re-emphasises its position as a professional trading exchange with the launch of a new brand identity and key features enhancing the trading experience.
  2. Smarkets announce new $2.3m funding round Feb 2013 - T-Venture, the investment arm of Deutsche Telekom leads a new funding round along with Passion Capital.
  3. £100m Traded Apr 2012 - Smarkets surpasses £100m lifetime trades.
  4. Euro Offering Feb 2012 - Expansion to continental Europe with Euro added as currency.
  5. Industy Lowest Commission Jan 2012 - Introduction of industry-low flat 2% commission structure.
  6. £50m Traded Nov 2011 - Smarkets surpasses £50m lifetime trades.
  7. Smarkets raise $1m May 2011 - Smarkets raises a $1 million funding round led by Passion Capital.
  8. Smarkets feature in the Telegraph Start-Up 100 Jan 2011 - Start-Up 100: The European ecosystem has arrived - or weren't you paying attention?
  9. Horse Racing Added Feb 2011 - Horse racing is added to the growing sports markets offering.
  10. Wall Street Journal features Smarkets Dec 2010 - The Wall Street Journal Europe identifies Smarkets as one of 10 young European companies that are leading the charge in the continent’s efforts to take on Silicon Valley
  11. £1m Traded Oct 2010 - Smarkets surpasses £1m lifetime trades.
  12. Public Opening Feb 2010 - Smarkets exchange opens for public trading.
  13. The Launch Aug 2009 - Smarkets launches its first, invite-only version of the exchange.
  14. The Beginning Jan 2008 - Hunter Morris and Jason Trost incorporate Smarkets and start programming the exchange platform.