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When it comes to betting exchanges, Betfair clearly towers above all other names in terms of brand recognition. Since 2008, though, it’s had some serious competition from an innovative, exciting challenger: Smarkets. Since launching, Smarkets has made waves for its technology-driven approach to exchange betting. Another key reason for its success has been its promotions. Though not numerous, they have almost always been of a high quality, whether an actual Smarkets promo code has been required or not.

Read on to learn everything you need to know about finding and using a Smarkets promo code in 2022. We’ll cover the welcome offer, current promotions, whether or not you can receive free bets, and plenty more besides. Let’s get started.

£10 Welcome Bonus for New Customers

24/05/21

£10 Welcome Bonus for New Customers

  • Industry low commission of 2%
  • Good liquidity
  • Best rated betting app
9.7
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New customers only. Deposit £20 using card. Up to your first £10 of losses will be refunded as CASH within 24 hours of qualifying bet having been settled. T&Cs apply. PayPal is NOT eligible for the Welcome Offer. You can use it afterwards as normal.

What is a Smarkets Bonus Code?

Bonus codes are a classic way for sportsbooks and betting exchanges to deliver special offers, to both new and existing customers. Available either straight from the betting company, or via a third-party betting site, they’re a short string of numbers and letters which you enter on the platform to access a promotion.

At the time of writing, there is no Smarkets promo code available. Some other sites advertise a code which supposedly gets you the welcome offer, but this is unnecessary – you don’t actually need a Smarkets promo code to get your £10 deposit bonus. With all that said, Smarkets does still provide a handful of intriguing promotions for its users. You can get a full run-down for all of those in the ‘Smarkets Promotions’ section, later in this review.

Smarkets Bonus Smarkets Bonus Description Bonus Code
Smarkets Welcome Offer Deposit £20, get first £10 of losses refunded Claim Your Bonus
Smarkets Refer a Friend Bonus £10 bonus when you refer a friend. More info here Claim Your Bonus
Smarkets 0% Commissions 0% commissions on bets for eligible customers Claim Your Bonus

Hottest Betting Promo Codes This Month

UK's best promo codes

842 Codes claimed
9.7 Review

Bet £10 Get £30 Free Bet

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New Players Only. Minimum...New Players Only. Minimum stake $/€/£ 10, minimum...

New Players Only. Minimum stake $/€/£ 10, minimum odds1.5, stake not returned.1X wagering the winnings from the free bet. Wagering occurs from real balance first. Wagering requirement is calculated on bonus bets only, wagering starts from real funds. Free bet is valid for 7 Days from issue. Max conversion: $/€/£ 200. Excluded Skrill deposits. Withdrawal requests voids all active/pending bonuses. Full Terms Apply

17
09/14/21 09/14/21 Date Posted
992 Codes claimed
9.6 Review

Deposit £10, Bet £10 And Get £30 Free Bet

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New Players Only. Minimum...New Players Only. Minimum stake £10, minimum odds 1.5,...

New Players Only. Minimum stake £10, minimum odds 1.5, stake not returned.1X wagering the winnings from the free bet. Wagering occurs from real balance first. Wagering requirement is calculated on bonus bets only, wagering starts from real funds. Free bet is valid for 7 Days from issue. Max conversion: £200. Excluded Skrill deposits. Withdrawal requests voids all active/pending bonuses . Full Terms Apply

9
06/03/21 06/03/21 Date Posted
686 Codes claimed
9.7 Review

Bet £10, Get £30 In Free Bets + £10 Casino Bonus

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Min deposit £/€/$10 • A...Min deposit £/€/$10 • A qualifying bet is a ‘real...

Min deposit £/€/$10 • A qualifying bet is a ‘real money’ stake of at least £/€/$10 • Min odds 1/2 (1.50) • Free Bets credited upon qualifying bet settlement and expire after 7 days • Free Bet stakes not included in returns • Casino Bonus must be claimed within 7 days • To withdraw bonus/related wins, wager the bonus amount 40 times within 14 days • Casino Bonus expires after 60 days • Withdrawal restrictions, payment methods, country & Full T&C’s apply.

9
10/29/20 10/29/20 Date Posted
357 Codes claimed
9.7 Review

200% Bonus Up To £200

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Key Terms: Wager the bonus...Key Terms: Wager the bonus amount 5x within 7 days on Sports...

Key Terms: Wager the bonus amount 5x within 7 days on Sports to release your Bonus. Bonus equal to 200% of qualifying deposit - up to £200. Bonus credited in real money without wagering requirements.

7
03/08/21 03/08/21 Date Posted
748 Codes claimed
9.4 Review

£35 Free Bet + 10 Free Spins

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Deposit and bet on any...Deposit and bet on any Sportsbook markets of your choice...

Deposit and bet on any Sportsbook markets of your choice (horse racing, football, tennis, darts etc) at odds of evens (2.00) or greater. Use Bonus Code "35FREEBET". If your account has Sportsbook losses at the end of your first day's betting (23:59), we'll refund 50% of your first day's losses as a Free Bet up to £35 plus, you get 10 Free Spins on Asgard Warriors (minimum 3 bets required). T&Cs apply. 18+ begambleaware.org

3
12/16/20 12/16/20 Date Posted
130 Codes claimed
9.6

200% Welcome Offer Up To £200

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Turnover the welcome offer...Turnover the welcome offer amount 6x within 30 days on...

Turnover the welcome offer amount 6x within 30 days on sports to release your 200% real money welcome deposit offer. Real money is equal to 200% of first qualifying deposit - up to £200. Welcome offer credited as real withdraw-able money.

1
04/29/21 04/29/21 Date Posted
801 Codes claimed
9.6 Review

Bet £10 And Get A £30 Free Bet

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New Players Only. Minimum...New Players Only. Minimum stake £10, minimum odds 1.5,...

New Players Only. Minimum stake £10, minimum odds 1.5, stake not returned. 10X wagering the winnings from the free bet. Wagering occurs from real balance first. Wagering requirement is calculated on bonus bets only, wagering starts from real funds. Free bet is valid for 7 Days from issue. Max conversion: £20. Excluded Skrill deposits. Withdrawal requests voids all active/pending bonuses. Full Terms Apply

0
10/19/21 10/19/21 Date Posted
209 Codes claimed
9.6 Review

Bet £10 Get £30 Free Bet

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New players only. Min £10...New players only. Min £10 qualifying bets, stake not...

New players only. Min £10 qualifying bets, stake not returned. Free bet - one-time stake of £10, min odds 1.5, stake not returned. 10X wager the winnings. Wager from real balance first. Wager calculated on bonus bets only. Max conversion: £10. Valid for 7 Days from issue. Excluded Skrill deposits. Withdrawal requests voids all active/pending bonuses. Full Terms Apply.

1
09/10/21 09/10/21 Date Posted
380 Codes claimed
9.5 Review

Bet £10 Get £30 Free Bet

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New Players Only. Free bet -...New Players Only. Free bet - one-time stake of £10, min...

New Players Only. Free bet - one-time stake of £10, min odds 1.5, stake not returned. 1X wager the winnings. Wager from real balance first. Wager calculated on bonus bets only. Max conversion: £200. Valid for 7 Days from issue. Withdrawal requests voids all active/pending bonuses. Excluded Skrill deposits. Full Terms apply.

0
07/01/21 07/01/21 Date Posted
429 Codes claimed
9.7 Review

100% Deposit Bonus Up To £50

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18+ Only available to new,...18+ Only available to new, verified customers residing in...

18+ Only available to new, verified customers residing in the UK and registered after 12:00 (GMT+1) on September 12 2021. This promotion is valid from 12:00 (GMT+1) on 17th November 2021 until 17th March 2022. Qualifying bet – single (must be a first ever bet) Min. odds per selection – 1.4.

1
06/17/21 06/17/21 Date Posted
588 Codes claimed
9.7 Review

Welcome Sports Bonus Up To £50

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18+. New depositing...18+. New depositing STSbet.co.uk customers only. Promotion...

18+. New depositing STSbet.co.uk customers only. Promotion valid from 08/06/2021 until further notice. First deposit min. £20. Wager min. £100 on any sportsbook-related markets, single or accumulator bets, pre-match or in-play, with min. odds of 4/5. £5 cash for each £100 wagered. Up to £50 cash in total. Deposit method restrictions apply. Full T&Cs apply. BeGambleAware.org

0
01/28/21 01/28/21 Date Posted
267 Codes claimed
9.4

100% Bonus Up To £50

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Prior to a withdrawal, the...Prior to a withdrawal, the bonus and deposited amount must...

Prior to a withdrawal, the bonus and deposited amount must be rolled over 17x at odds of 2.00 (evens) or higher within 365 days. When you activate the bonus, your funds are split into "Linked funds" (your deposit) and "Bonus funds" (the bonus amount). Stakes are taken first from linked funds and then bonus funds and winnings are credited accordingly. You can cancel the bonus at any time (e.g. to withdraw linked funds) by going to My Account » My promotions. This will result in all bonus funds being forfeited and linked funds being credited to your account as regular withdrawable funds. Please note that all deposits must be wagered once prior to a withdrawal

0
08/11/21 08/11/21 Date Posted
677 Codes claimed
9.7 Review

Deposit £10 Get £30 in Free Bets

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New UK, IE & Malta users only....New UK, IE & Malta users only. Min. £10/€10 first deposit...

New UK, IE & Malta users only. Min. £10/€10 first deposit only using Debit Card or Trustly. Free bets expire in 90 days. T&Cs apply.

8
03/08/21 03/08/21 Date Posted
640 Codes claimed
9.4

Money Back As Cash Up To £20

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Max £20 refund on first bet....Max £20 refund on first bet. Bet must be placed in first 7...

Max £20 refund on first bet. Bet must be placed in first 7 days of account opening. Payment restrictions apply for the promotion. T&Cs

0
10/30/20 10/30/20 Date Posted
968 Codes claimed
9.4

Bet £20 and Get it Back if it Loses

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New customers only. Place your...New customers only. Place your FIRST bet on any Football...

New customers only. Place your FIRST bet on any Football market and if it loses we will refund your stake in CASH. Max refund for this offer is £20. Only deposits made using cards will qualify for this promotion. T&Cs apply.

1
10/30/20 10/30/20 Date Posted
332 Codes claimed
9.5

Bet £10 Get £40 Free Bet

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New Players Only. Min £10...New Players Only. Min £10 qualifying bets, stake not...

New Players Only. Min £10 qualifying bets, stake not returned. Free bet - one-time stake of £40, min odds 1.5, stake not returned. 1X wager the winnings. Wager from real balance first. Wager calculated on bonus bets only. Max conversion: £200. Valid for 7 Days from issue. Excluded Skrill deposits. Withdrawal requests voids all active/pending bonuses. Full Terms apply. Full Terms apply.

0
03/24/21 03/24/21 Date Posted
319 Codes claimed
9.5 Review

Welcome Bonus Up To £200

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In order to activate this...In order to activate this bonus on the personal TonyBet...

In order to activate this bonus on the personal TonyBet account, please, enter the bonus code TONY200 when a deposit is made and wager your deposit 10 times on betting markets with odds of at least 1.65 within 30 days. Only the bets which do not exceed the original deposit amount will be included in the turnover requirements.

1
11/17/20 11/17/20 Date Posted
846 Codes claimed
9.5

Bet £10, Get £10 Free Bet

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Using the promo code...Using the promo code “BDQ10”, place an opening sports...

Using the promo code “BDQ10”, place an opening sports bet worth £10+, at minimum odds of 1/1 or greater, in order to claim your £10 free bet at Betdaq. Free bet to be used on the betting exchange within 7 days of account reg, with deposits via bank card being required to qualify. UK customers only, country restrictions apply.

2
11/30/20 11/30/20 Date Posted

How to Sign Up and Redeem a Smarkets Promotion Code

While it might not be the most eye-catching feature about Smarkets, this brand must still be complimented on just how easy its platform is to use. This applies not just to the likes of browsing markets and placing a back or lay bet, but all the way through to the sign up process too, including using a Smarkets promotion. The whole thing is intuitively separated, clearly explained, and requires only a couple of minutes to complete. 

Here’s a step-by-step guide on exactly how to use that process, and redeem a Smarkets promo code.

Step 1: Visit the Smarkets Website

Visit the desktop or mobile version of the Smarkets.com website buyclicking the ‘Visit Smarkets’ button below, or download and boot up one of the apps. Then hit ‘Create Account’ on the homepage to start the process.

You will now see the first of three stages, called ‘Account’. Here, you must enter a few important pieces of information: your email address, a new password, and your date of birth. This is also the point at which you can enter a Smarkets promo code or a Smarkets referral code, if you have one, in the box under ‘Promotion Code’. Finally, you can decide your marketing preferences, before clicking ‘Continue’ (which also agrees to the standard terms for the website).

Smarkets promo code

Step 2: Register a New Account

Stage 2 is called ‘Personal Details’. As the name suggests, you must provide a little more information about yourself here: your full name, household address, and (optionally) your phone number. After also confirming your preferred currency, hit ‘Save Details’ to progress to the next stage.

Smarkets promo code

Step 3: Verify your account and make a deposit

After finishing the second stage, your user account will technically have been created. You must now confirm it, however. To do so, just check your inbox, where you should find a message from Smarkets. Now simply click the link there to activate your account. 

You can now make your first deposit – which is technically the third stage – using one of the available payment methods. Note that not all payment methods are eligible to be used with the welcome offer (as explained later in this article). After that, you’re free to start placing bets on the exchange.

Smarkets promo code

Why Join Smarkets?

Smarkets promo codeAs noted in our introduction, the betting exchange landscape is dominated by Betfair. It’s comfortably the biggest exchange, with the most brand recognition. Betdaq is another major player, which has actually been around almost as long as Betdaq. This raises a simple question – did we actually need another betting exchange? Well, you won’t need to use Smarkets for long to get the answer – yes! 

If you just go by a few surface metrics, Smarkets doesn’t look much better than the other two brands. Here’s a comparison between the three, to show exactly what we mean.

Criteria Smarkets Betfair Betdaq
Commission 2% on net profits 5% on net profits 2% or 0% (market-dependent)
Mobile App iOS/Android iOS/Android Android/iOS
Welcome Bonus Deposit £20, get £10 back on losses Bet £10, get £30 in free bets Bet £10, get £10
Number of Sports 19 25 20
Support Hours 24/7 24/7 09:00-20:00

As you can see, Smarkets has the fewest betting markets (current affairs not included), and arguably has the least eye-catching welcome offer of the three. So, why should you bother joining Smarkets?

For starters, the Smarkets commission rate is highly competitive. The difference between 2% here, and 5% on Betfair, could prove massive over the long run. While Betdaq advertises 0% commission rates, these are only available on certain markets. Many of the biggest markets – including Premier League football and horse racing – incur 2% commissions, which matches the rate on Smarkets.  

Where Smarkets truly excels, however, is in its use of technology. It uses real time financial tech to monitor the odds on other peer-to-peer betting platforms, and ensure its odds are at least as good, if not better. Tracking how prices on markets have changed over time is also simple, thanks to easily-adjusted charts. Smarkets even show you not only how much has been wagered on a matchup, but exactly which bets punters are favouring other others. 

Add all that together, and the amount of information you’re given by Smarkets is outstanding. You feel incredibly well-informed here, which – in turn – can only help your betting success.

Smarkets New Customer Sign Up Offer

From the beginning, Smarkets has always faced an uphill struggle to compete with the established betting exchanges. One of the ways they’ve sought to do so is by regularly providing a new customer offer, and the current edition is one of their better deals. 

Technically the Smarkets sign up offer advertises a ‘£10 Welcome Bonus’, but this is slightly misleading. In reality, while you are given a £10 bonus, this can only be used to refund your first £10 of losses. It’s not a free bet token, for example, to be used as you please. 

To get this bonus, your first deposit must be at least £20. Then, before actually withdrawing any rebated funds, you must have bet through that qualifying deposit amount. All told, it’s a pretty straightforward offer, and very few T&Cs apply.

These are the only T’s & C’s you really need to know about:

  • No Smarkets promo code required
  • Must deposit at least £20 (or currency equivalent) –  as a single deposit – to qualify for bonus offer amount
  • Deposits using the e-wallets Skrill, Neteller, and PayPal are ineligible 
  • Unused bonuses will expire seven days after being awarded
  • £10 bonus applies to the first £10 of betting losses
  • Must bet through at least the qualifying deposit before withdrawing rebated funds

This might not be the most spectacular offer in the world, but there’s still plenty of value here. Most notably, the refunds are given back to you as cash, rather than as a single amount free bet. When you come to use them again on a combination of markets, therefore, your stakes will also be returned with any winnings. We also like the lack of specified market or minimum odds in place for betting through your qualifying deposit, which affords you plenty of freedom in how you meet those wagering requirements.

Smarkets Welcome Bonus Examples

The simplicity of this offer – which is simply a rebate for your first £10 of losses – is commendable. To provide a little more clarification on the right and wrong ways to actually use the offer, though, here are a couple of practical examples.

Winning Example

  • Register at Smarkets.com, and deposit £20 using Mastercard
  • Receive £10 welcome bonus
  • Immediately place three £10 wagers, which settle that day
  • The first bet wins, as does the second – you collect your winnings as usual
  • The third wager loses
  • Because you met all the conditions, your bonus is now active
  • The £10 stake for that third wager is refunded, thanks to the £10 welcome bonus
  • The £10 is back in your account, ready to be used again

Losing Example

  • Create an account, and deposit £20 using bank transfer
  • Receive £10 welcome bonus
  • Wait 10 days, then place one £10 lay bet
  • First bet wins, and you used one of the right payment options. But your welcome has already expired, having only been eligible for seven days
  • You also didn’t complete the requirement to bet through your deposit

Smarkets Free Bets

Free bets are pretty common on sportsbooks, with almost every major bookie providing at least one promotion through which they can be won. They’re a little less common on betting exchanges, and – in the case of Smarkets – there are actually none whatsoever available at the time of writing, even by using a Smarkets promo code.

While it’s hardly a deal-breaker, this is a little disappointing. A free bet is an incredibly useful tool for sports betting, after all. Not helping matters is the fact that both Betdaq and Betfair – Smarkets’ main competitors – do provide ways to gain free bets. We’d hope to see this exchange address this sooner rather than later, whether through a Smarkets promo code or some other avenue.

Smarkets Promotions

As with free bets, ongoing promotions in general are generally less common on betting exchanges compared to sportsbooks. This is for a good reason – they’re simply harder to implement due to the peer-to-peer nature of sports betting exchanges – but it’s still a shame for the user.

At the time of writing, Smarkets has just two ongoing deals to offer, in addition to the sign-up promotion. What this range lacks in quantity, however, it definitely makes up for in quality, with both being excellent. Let’s take a closer look at each of them in turn.

  • 0% Commission Offer.The standard commission rate on Smarkets – 2% on net profits – is already highly-competitive. During a certain promotional period, however, Smarkets is taking things to a whole other level. After opting-in, eligible punters will pay literally no commission whatsoever on all of their exchange bets, for as long as the promotion lasts. Naturally, their chances of turning a larger profit increase accordingly. There is a catch, however. To actually be allowed to use this offer, you must fulfil one of two criteria. The first is that you’ve already been notified – via email – that you’re eligible. The second is to be a premium member at a third-party website like OddsMonkey, Profit Accumulator, or Profit Maximizer. If you fall into either of those categories, you can simply visit this page and enter your email address to start enjoying commission-free bets.
  • Refer a Friend.Every time you refer someone to the Smarkets website, both you and that person are given a ‘risk-free bonus’ of £10. As with the welcome offer, that bonus refunds £10 of losses on your account. Best of all, you can actually repeat this up to 50 times, netting a brand new bonus on every single occasion. There are a few T’s & C’s, as you might expect. One of the most important is that – when your friend signs up – they must enter your unique Smarkets promo code for referrals. Another is that you must both have bet at least £20 before using the bonus. Other T&Cs apply, and you can check them out – including eligible deposit methods – here.

Other Popular Betting Promotions This Month

As you can see above, even though the promotions Smarkets does offer are excellent, there simply aren’t very many of them. There’s also no Smarkets promo code whatsoever available, at the time of writing. Fear not, though, because there are plenty of other enticing betting promotions out there, ready and waiting to be used by you. These are the best of the bunch this month.


Bottom Line

The betting exchange landscape certainly isn’t as crowded as the sportsbook one. That said, it was already highly competitive when Smarkets entered the scene. It’s testament to the team behind it, therefore, that it’s become so successful, handling over £15 billion in trades to date.

Part of this definitely comes down to the Smarkets promotions. Even without a Smarkets promo code, there are invariably still a few good ways for punters to gain extra value here. 

These are headlined by the welcome offer, which essentially makes £10 of your early wagers into a risk-free bet. The fact that it comes with entirely fair requirements and conditions only adds to the offer’s appeal. Backing this up are a couple of other intriguing deals for existing customers, neither of which require a Smarkets promo code. Getting 0% commissions will obviously be excellent for those eligible to access the offer, and the ‘Refer a Friend’ promotion is a brilliant offering for all. Between these promotions, and a whole host of exciting technology-driven features, there’s a huge amount to like when conducting a thorough Smarkets review. It really has become a genuine contender to Betfair, and that’s no mean feat.

FAQ

Is there a Smarkets promo code currently available?

No. At the time of writing, no Smarkets promo code is available. We will update this page if and when the situation changes, though. In the meantime, there are several promotions available which don’t require a Smarkets promo code.

Is there a Smarkets app?

Yes. There are apps available for both iOS and Android users. Alternatively, if you want to use a Smarkets sportsbook, its sister mobile app - SBK - fulfils this role.

What is the commission rate on Smarkets?

The standard rate is 2% on all net profits. For reference, Betfair charges 5%, while Betdaq charges 2% (or 0% on selected markets).

What are the available deposit methods on Smarkets?

You can make deposits using a Mastercard or Visa debit card, bank transfer, PayPal, Neteller, Skrill, or Trustly. The minimum deposit and Smarkets cash out amount varies, depending on the chosen method, as does the Smarkets withdrawal time.

What customer support is available on Smarkets?

Most importantly, Smarkets bettors can get in touch via live chat 24/7. Support via email, phone, and Twitter are also available.

Joe Halliday

Joe is a highly-experienced writer, with a focus on sports betting content. His specialties include sportsbook reviews and betting tips. A keen football fan, he also loves analysing and writing about the beautiful game.