Smarkets - can it take on Betfair/Betdaq?

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smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

Hi everyone - just wanted to inform you about the new deposits and withdrawals fee structure that will be implemented at Smarkets on Monday, March 12th. You can read full details here: http://blog.smarkets.com/2012/03/06/rev ... structure/

Any questions, let us know.

Thanks
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Nice timing, bringing in £10 withdrawal charges just before Cheltenham, a new angle to entice in new accounts I suppose :roll:
mister man
Posts: 363
Joined: Tue Jul 27, 2010 2:10 pm

mmm charge to deposit and then charge to withdraw!!!

shame, i really had high hopes for them, but into the bin they go.
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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

I have a question:

Why post this on our forum?

Don't you have your customers contact details?
Boing
Posts: 134
Joined: Thu Feb 23, 2012 4:06 pm

If Betdaq can't make a go of it I'm not sure others can either. Especially if they charge to deposit or withdraw money, did I read that correctly or is that a wind up?
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Ethanol
Posts: 148
Joined: Thu Jun 09, 2011 9:09 am

mister man wrote:mmm charge to deposit and then charge to withdraw!!!

shame, i really had high hopes for them, but into the bin they go.
Both debit card and bank transfer deposits and withdrawals appear to be free. It seems that it's only other less popular payment methods which accrue charges.
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

Where does it say about charging £10 per deposit and withdrawal?

I looked on their payments page and it clearly states UK debit cards have no fees, but require a minimum deposit of £10

There's no restriction on debit card withdrawals, or fees
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

As is clearly stated in the post detailing the new fee structure, debit card and bank transfer deposits and withdrawals will remain free, with no limitations (apart from the minimum deposit requirement). In addition to this, users are entitled to one free credit card and/or moneybookers withdrawal per calendar month. There is still a way for users to avoid paying fees and given the value that we offer through lower commission, we feel that it is fair.

We elected to post in this forum because even though we contacted our customers, emails sometimes do not get read. The administrators have been kind enough to let us respond to customer queries we see on BetAngel as well as inform you of any upcoming changes.
herbie
Posts: 342
Joined: Mon May 11, 2009 8:56 pm

Smarkets.. As soon as you have a API up and running with a vendor or software with a DOM (ladder screen) showing volume action and excel, I will trade your footy markets. If traders have the tools they require then your business will fly. Its great that there is more competition in the market place. Good luck

herbie
steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

Smarkets, how are your market makers able to offer liquidity based on betfair markets. I presume they pay commissions on betfair of a minimum of 5% although I would suspect its higher if they are experienced market makers. If you only charge 2% how is it possible for them to offer favourable odds after commission payments on losses to betfair unless they dont pay commission on betfair. Surely long term they will lose out or have I miss understood something?
enzabella2009
Posts: 747
Joined: Tue Nov 03, 2009 3:58 pm

Some of my Italian colleagues have highlighted that some smarkets agents approached in some Italian forums with some unwanted messages. The message that was sent out was:
Do not wait for Betfair and Betdaq to be regulated in Italy , we are smarkets we do accept your business anyway. It 's not a good message to Italian users who just wanted to be legally recognized and regulated.
It 's true that Italian users should not encounter any fines for the moment they are using the sites but, as a company smarket, despite the European Treaty, and specifically the article 43 and 46, can still be unwelcome from italian authorities therefore unwelcome from italian users once betfair and betdaq are regulated.
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

enzabella2009 wrote:Some of my Italian colleagues have highlighted that some smarkets agents approached in some Italian forums with some unwanted messages. The message that was sent out was:
Do not wait for Betfair and Betdaq to be regulated in Italy , we are smarkets we do accept your business anyway. It 's not a good message to Italian users who just wanted to be legally recognized and regulated.
It 's true that Italian users should not encounter any fines for the moment they are using the sites but, as a company smarket, despite the European Treaty, and specifically the article 43 and 46, can still be unwelcome from italian authorities therefore unwelcome from italian users once betfair and betdaq are regulated.
Hello - I am an official Smarkets rep and we have never released a statement like the one you are referring to above, nor have we commented in any Italian forums. We only post in specific forums that we have been granted access to by forum administrators as a way to answer customer queries.
enzabella2009
Posts: 747
Joined: Tue Nov 03, 2009 3:58 pm

smarkets wrote:
enzabella2009 wrote:Some of my Italian colleagues have highlighted that some smarkets agents approached in some Italian forums with some unwanted messages. The message that was sent out was:
Do not wait for Betfair and Betdaq to be regulated in Italy , we are smarkets we do accept your business anyway. It 's not a good message to Italian users who just wanted to be legally recognized and regulated.
It 's true that Italian users should not encounter any fines for the moment they are using the sites but, as a company smarket, despite the European Treaty, and specifically the article 43 and 46, can still be unwelcome from italian authorities therefore unwelcome from italian users once betfair and betdaq are regulated.
Hello - I am an official Smarkets rep and we have never released a statement like the one you are referring to above, nor have we commented in any Italian forums. We only post in specific forums that we have been granted access to by forum administrators as a way to answer customer queries.
Dear Smarkets are you saying you got nothing to do with this agent? ( smarketsdeejay).
smarkets
Posts: 18
Joined: Tue Nov 16, 2010 11:23 am

enzabella2009 wrote:
smarkets wrote:
enzabella2009 wrote:Some of my Italian colleagues have highlighted that some smarkets agents approached in some Italian forums with some unwanted messages. The message that was sent out was:
Do not wait for Betfair and Betdaq to be regulated in Italy , we are smarkets we do accept your business anyway. It 's not a good message to Italian users who just wanted to be legally recognized and regulated.
It 's true that Italian users should not encounter any fines for the moment they are using the sites but, as a company smarket, despite the European Treaty, and specifically the article 43 and 46, can still be unwelcome from italian authorities therefore unwelcome from italian users once betfair and betdaq are regulated.
Hello - I am an official Smarkets rep and we have never released a statement like the one you are referring to above, nor have we commented in any Italian forums. We only post in specific forums that we have been granted access to by forum administrators as a way to answer customer queries.
Dear Smarkets are you saying you got nothing to do with this agent? ( smarketsdeejay).
Absolutely nothing to do with them. We are curious to know which forum or forums these claims are appearing in.
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