S Markets

So I have been Matched Betting since May and always used Betfair and have gotten very used to it! I think it was back August time? can’t really remember..but Matt started to use S Markets on his blog but I decided to stick it out with Betfair as I was comfortable with sticking to what I know. However, as my knowledge of matched betting has increased I now feel more comfortable opening an S Markets account alongside my Betfair as I think it will be handy to have both due to the 2% commission, and therefore laying off any popular bets such as premiership games I suspect the odds between S Markets & Betfair will be fairly similar.

Could anyone let me know how you go about the £10 bonus you get from S Markets? It says any loss will be refunded up to £10, so I therefore just have to back and lay and hope the bet wins in at the bookies? and therefore loses at S Markets?

Cheers for the help!

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RyanB
11

December 31, 2015 at 1:16 am

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Shaun46 1 December 31, 2015 at 1:22 am

HI Ryan basically your first ever loss and you will get one gets offset less £10 so if your lay should lose £20 you will only lose £10 so you will be literally £10 up, Just lay as normal and record as you would normally

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RyanB 11 December 31, 2015 at 1:24 am

Ah cheers for the quick reply Shaun! So basically I don’t need to do anything as like you say i’ll eventually win a bet at the bookies and therefore lose £10 less than I thought i’d lose, nice one!

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Shaun46 1 December 31, 2015 at 1:29 am

yup thats exctly right

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RyanB 11 December 31, 2015 at 1:31 am

Any idea if the first loss is smaller than £10 do you lose the difference?

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Mark 1 December 31, 2015 at 1:36 am

Just do as you’d normally do and on your first loss you’ll get an extra £10.

I made the switch and haven’t looked back, have saved hundreds a week by dropping to 2%commission. It really adds up. The only time I use betfair now is for some of the more obscure football markets and goalscorer bets as well as darts.

For mainstream football and horse racing the odds are generally the same so it’s a no brainer for me.

Laid off Phil Taylor last night and although smarkets odds were a smidgen higher the 2%commission meant I broke even instead of took a small loss. That was a good decision after the darts tonight!!

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RyanB 11 December 31, 2015 at 1:40 am

Think ill stick with Betfair for now due to the majority of my funds being there, but ill probably open a S Market account tomorrow and start using both!

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Mark 1 December 31, 2015 at 1:41 am

Good point Ryan? I don’t know, perhaps carry on using betfair for your small stakes bets of less than £10 just to be safe!

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Tony S 7 December 31, 2015 at 7:24 am

I’ve gotta be totally honest… I started using Smarkets a month ago… Great for the £10 first loss refund but horrendous for everything else… Never use it now… Straight back to Betfair!

Markets are VERY limited and liquidity is pretty poor in comparison!

Worth opening but not something I could use as a standalone exchange

Also no app if that’s an issue for you?

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Pickle 58 December 31, 2015 at 9:07 am

I think I’m the opposite of you Tony. I tend to use smarkets more than I use betfair.

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Tony S 7 December 31, 2015 at 9:25 am

Aye I’ve seen people rave about it… I think it’s just one of those things you either take to or don’t… If they got a few more punters in and developed an app it’d be hard to keep away from the 2% commission

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Pavlon 3 December 31, 2015 at 9:35 am

Are you guys talking about bet-daq or bet-fair as the alternative?

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RyanB 11 December 31, 2015 at 9:53 am

I see where your coming from Tony I think for me I would just like to have it along side betfair to use when for example this months WH bet 20 10 inplay would have been great as id just compare the odds of betfair and smarkets and lay accordingly!

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Pickle 58 December 31, 2015 at 10:03 am

Take that horse i mentioned on the new offers thread Ryan. With smarkets @ 5.0 and 4.9 its either 9p or 8p profit from the qualifying bet whereas at betfair it would have been a 42p or 41p loss. Not a lot but it all adds up over a lot of bets.

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RyanB 11 December 31, 2015 at 10:04 am

Yeah I fully agree pickle! Thats why im going to give it a go along side my betfair i think it makes sense to have both

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Mark 1 December 31, 2015 at 10:10 am

Liquidity close to the start of a horse race in my opinion is identical. Based on my spend of over 6k this week alone and assuming only 50% of my bets “won” at the exchange (it’s likely much more than that). Then I have saved £100 by using Smarkets this week alone! If you can afford to still use Betfair with 5% commission you must be doing much better than I am!

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