UK / EU exchange
Smarkets
Smarkets (Malta) Limited
Live · as of September 2026
The other UK ladder
A UK and European matching desk with a published default cut on net winnings, plus a US story that is not the same product: a sportsbook brand in Indiana, and a CFTC filing in 2026. Date every claim.
How it works
Same model as the other classic exchanges: you back or lay, another user has to match you, and Smarkets takes a cut for running the room.
The public site now leans on “predictions” language as well as sports. The underlying ticket is still a matching book, not a Flutter-style sportsbook.
Do not confuse three things that share a corporate name: the UK/EU exchange, the SBK sportsbook, and a possible future US prediction-market venue. Only the first is reviewed as an exchange here.
Commission, dated
As of September 2026 (Smarkets Terms v4.14 last modified 14 August 2026)
Smarkets’ published terms, as of September 2026, set a default commission of 2% of net winnings in each market. Other tiers exist and are not that default.
Default tier: 2% of net winnings per market. A net loss on the market typically means no commission on it.
The same terms describe a Pro tier (1% on each settled matched bet, win or lose) and a Select tier (3% on each settled matched bet, win or lose) for a small set of highly profitable accounts. Those are not the default retail cut.
Rates and thresholds move. Read the commission clause on Smarkets’ own terms and the figure on your ticket. This page is not their fee table.
Liquidity and geography
Meaningful on the main UK and European sports, thinner than Betfair on most slates. You come here for the published cut and a second book — not because the room is deeper.
Politics and current-affairs markets are part of the public product, not only football and racing.
US readers: eligibility for smarkets.com is not the same question as “does Smarkets have a US brand.” Check the operator’s own restricted-country list. SBK, if it is still taking bets in your state, is a sportsbook.
Who it is for
Eligible UK and European customers who want a second ladder next to Betfair, and who will actually read the tier they have been placed on.
People who will use the default 2% net-win math — and who understand they may be moved to a different tier if the account is very active or very profitable.
Not a substitute US exchange. The March 2026 CFTC filing is a regulatory path, dated and unfinished on this page.
Comparison only
A lower default percentage than Betfair’s historical mid-single-digit base rate only helps if the stake fills.
If your Smarkets account is on Pro or Select, you are no longer comparing the 2% leaflet. Compare the tier you are actually on.
Do not put SBK’s sportsbook prices in the same column as this exchange’s ladder.
We do not run an exchange, hold funds, or take a cut from Smarkets. If their screen, fee table, or licence page disagrees with a sentence here, their screen is right. No bonuses. No “claim” button.
