[james19]

Just an update on the situation at Smarkets.

Last week I tried to open a new Smarkets account as nearly five months had passed since my old account was "indefinitely suspended" without any proper explanation as to why, or for how long. We all know the real reason why, namely because I was up £20,000, although since my case their site terms have been updated:

"Smarkets may, at its own discretion and without having to provide any justification, refuse to open an account or close an existing account. Any existing contractual obligations will be honoured. In the event of an account holder not respecting one or more of the rules mentioned in these terms and conditions, Smarkets reserves the right to close the account and may confiscate any available funds and forfeit them to the LGA."

Anyway since Betfair permit multiple accounts I figured maybe Smarkets operate in the same fashion, but it came as no great surprise when my my new account was also suspended within 3 days of opening. Of course I did not deposit as there was a possibility that my funds may have been "confiscated"/stolen.

I have been trying to contact smarkets by email for the last month to discuss whether professional players will ever be welcome on their platform, and how we might be able to come to a mutually beneficial agreement with respect to my account, but sadly they do not appear to want to listen, and they have completely ignored my email correspondence on four occasions.

When next I am in London, I shall attempt to drop by their offices in order to discuss how they might be able to support winning traders as part of their ecosystem going forward.

If they still refuse to listen to the professional community, and do something stupid like call security on me, then I guess will give up on them ever becoming a viable exchange alternative.

[daejeon]

why not use betdaq for now?

[benandjerry]

I was just visiting smarkets the other day considering opening an account, really love their interface. Volume seemed pretty poor though.

Its really unfortunate that exchanges has come to this, if there is any place that shouldnt restrict any accounts it should be them...

Also, betfair allows multiple accounts? For what reason besides multiple currencies would they do that (assuming exposure limits could be raised on an acc to acc basis)?

[james19]

I do... nothing wrong with daq. Winners always welcome according to their manifesto!

[mighty maron]

Just an update on the situation at Smarkets.

Last week I tried to open a new Smarkets account as nearly five months had passed since my old account was "indefinitely suspended" without any proper explanation as to why, or for how long.

You dont see a problem with opening another account when the site clearly did not want you?

[teaz2win]

If you get up again and they catch they are going to close you again and take your money. We are supposed to be different from the animals cause we should LEARN from our mistakes (and the thumb thing). Man why would you want to play there after what you claim they did to you?

[King_Suckerman]

betfair are getting much tighter in terms of multiple accounts. they used to tolerate it but I've heard of accounts getting closed recently.

[teaz2win]

So did you open up another account, or get any resolution to this?

[shaunovery]

betfair are getting much tighter in terms of multiple accounts. they used to tolerate it but I've heard of accounts getting closed recently.

betfair don't allow multiple accounts

[JayZ]

Although some people ended up with 2 when they took over Blue Square.

[caveira]

If you have 2 accounts or more at betfair, you need to tell them. Many "smart guys" try to divide their money to avoid premium charge.

[tommygun]

The problem with smarkets is they use their own money in the liquidity, I am pretty sure of this why else would they care if you were $20,000 up? Should be good for them as you are generating good commission for them.

[filipinho]

The problem with smarkets is they use their own money in the liquidity, I am pretty sure of this why else would they care if you were $20,000 up? Should be good for them as you are generating good commission for them.

Every exchange does that, they have department for that, but publicly they say it's just partnership with big market makers.And it is good thing, since without it, there wouldnt be liquidity at all.

[tommygun]

Every exchange does that, they have department for that, but publicly they say it's just partnership with big market makers.And it is good thing, since without it, there wouldnt be liquidity at all.

I don't believe betfair use them that often.

[King_Suckerman]

James
Did you get the email from smakets inviting you to an "Open House" event?

[roanildinho]

LOL if exchanges limit people then we are all doomed and wsting our times.

[daddypoker23]

they clearly dont want your action. So why are you forcing the issue? nothing good can come out of this for you.

[benandjerry]

they clearly dont want your action. So why are you forcing the issue? nothing good can come out of this for you.

They shouldnt be marketing themselves as an exchange then, should they?

[roanildinho]

Exchanges shouldnt choose what action they want...

[piterp]

They offer lower commission but the service is terrible specially problems with liquidity

[jimbo747]

That's the trouble with such low commission, its near impossible to make any money from traders. So yeah, in their eyes you just aren't profitable enough, they'd rather have people using them to just lay their Bet365 4/1 offers.

[Digo]

Smarkets is always kicking winning players.

[allin1]

Smarkets is always kicking winning players.

I don't understand why they even bothered to open a fake betting exchange unless they are laundering money or something.

[DirtyVadah]

Been using Smarkets a while now and I'm well in profit - haven't had my account closed nor have I had any problems to get the bets I wanted on there.

They've got liquidity for less popular markets in which I struggle to place a bet on on Betdaq and they only ask for 2% of my winnings. Can't complain really...