Smarkets Terms and Conditions
1.1 Smarkets (Malta) Limited is a company registered on the 24th July 2008 under the laws of Malta; Registration number: C 44795; Registered address: Level 7, Ir-Rampa ta’ San Giljan Street, St. Julians STJ 1062, Malta. Smarkets (Malta) Limited is trading under the name Smarkets. Accordingly any reference to Smarkets shall be construed as constituting a reference to Smarkets (Malta) Limited.
1.2 Smarkets (Malta) Limited is a wholly owned subsidiary of Smarkets Limited, a company registered on the 17th January 2008 under the laws of the United Kingdom; Company number 06475845; Registered address: 1 Commodity Quay, St Katharine Docks, London, E1W 1AZ, UK.
1.3 Smarkets (Malta) Limited was granted a licence (MGA/CRP/162/2008) by the Malta Gaming Authority (MGA) in Malta on 10th March 2011. For non UK registered customers, the service is licensed and regulated under the Malta licence.
1.4 Smarkets (Malta) Limited is licensed by the UK Gambling Commission, licence number: 000-039173-R-319366-002, issued on the 8th September 2015. For customers registered in the United Kingdom, the service is licensed and regulated by the UK licence.
1.5 The Smarkets platform is designed and maintained by Smarkets Limited. Smarkets Limited is granted a remote operating licence (000-033562-R-315062-001) to manufacture, supply, install or adapt gambling software by the Gambling Commission in the United Kingdom. The Gambling Commission in the United Kingdom is responsible for the regulation of this software licence.
1.6 The contractual relationship between the registered user (known as an ‘account holder’, ‘you’, ‘your’, ‘customer’, or ‘client’) and Smarkets is governed by this document (the ‘Terms and Conditions’) and by the Laws of Malta.
1.7 Each person is required to accept these terms and conditions when registering for an account with Smarkets and is bound by them throughout the existence of the relationship.
1.8 Smarkets reserves the right to change these terms and conditions including any of the Betting Rules at any time.
1.9 Any changes in terms and conditions made by Smarkets will be notified to the customer in advance or at the earliest, reasonable opportunity. You reserve the right to accept and proceed, or decline and stop using Smarkets services upon notification of any changes.
1.10 Should you, due to any possible changes to the terms and conditions, not wish to continue using the services of Smarkets anymore, you must withdraw all available funds and close the account at the earliest opportunity.
1.11 In the case of any conflict between the English language version of the terms and conditions and versions in other languages, the English language version shall prevail.
1.12 If you require clarification of any of the terms and conditions, rules or settlement then please contact support via live chat on site, the customer service helpline +442076177413 or by email.
2. Account rules
2.1 Any account holder applying for an account must be at least 18 years old. There may be some jurisdictions in which the minimum legal age for participation in gambling activities is higher than 18. It is your responsibility to verify that when opening an account and conducting business with Smarkets, you are not breaching any applicable laws in your jurisdiction.
2.2 Persons who are residents of; or persons who are located in countries where betting with Smarkets is prohibited (including, but not necessarily limited to Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, the United States, Italy, Portugal, Russia, Belarus, Ukraine, Kazakhstan, Norway and the Netherlands); cannot register as account holders with Smarkets.
2.3 The account holders of Smarkets agree to abide by these terms and conditions at all times:
Not acting in the interests of any third party.
Not utilising funds originating from any criminal or illegal activity or activities.
Not utilising bank accounts, debit cards, credit cards they are not authorised to use.
Not going to attempt to gain unauthorised access to the website or alter its software in any way.
Not going to take part in or organise any criminal actions against Smarkets, its affiliates, and its account holders.
2.4 You are prohibited from selling, transferring and/or acquiring accounts for or from other account holders.
2.5 You must not collude with other players or in any way distort normal game play.
2.6 In the event that you breach any provision in these terms and conditions, Smarkets reserves the right to suspend or terminate your account in accordance with the terms outlined in section 8, “Suspension or Termination of Your Account”.
2.7 You must submit the correct information during your registration. This information should include, but is not limited to; your full name as per your official identification documents, your full and current residential address, personal telephone number and/or email address as required. You also agree to update this information at the earliest and most reasonable opportunity should there be any changes to the personal data that you have provided.
2.8 You may only open and maintain one account, and this account must not be shared with any other individual. As a result you may only open one account per address, IP address or device.
2.9 Smarkets may, at its own discretion and without having to provide any justification, refuse to open an account or close an existing account, including, but not limited to, when there has been a violation of these T&Cs. In these cases any winnings or outstanding wagers will be forfeit and further we may hold deposits where we suspect any criminal or fraudulent acts.
2.10 All accounts are opened in and all transactions are made in GBP, EUR, SEK and BRL.
2.11 Account holders shall not treat Smarkets as a financial institution. No interest is paid on any funds, irrespective of the amount, held in your account.
2.12 If you reside in a jurisdiction where winnings are taxable, it will be your own responsibility to keep track of those winnings and report them to the proper authorities.
2.13 During the registration process you will be able to choose your login email and password. You can change this password at any time.
2.14 You must keep your login credentials secret at all times, and you remain solely responsible for the security and confidentiality of your account.
2.15 If you use third-party applications to connect to Smarkets you are aware that this may not display full information about the account or betting activity.
2.16 If a bet is placed using your account, the bet will be considered to have been made by you and therefore once accepted by us, it shall be considered valid unless it contravenes any other term.
2.17 When required to do so by applicable laws and regulations or the relevant regulatory authorities, Smarkets will request that documentation proving your identity and residency is forwarded to its offices. Examples of documentation requested could be certified copies of photo identification cards, bank statements, references, last utility bill or photocopy of credit card. In the event that you do not provide us with sufficient identification information, in accordance with Smarkets internal procedures or those required by regulatory authorities, Smarkets may suspend the account and all account functionality, including, but not limited to, bet management and withdrawal of funds or close the account.
2.18 Smarkets retains the right to make any queries regarding the source of any funds deposited with Smarkets and/or source of wealth of the individual using its products or services when required to do so by applicable laws and regulations or the relevant regulatory authorities. For such purposes, Smarkets will request documentation, including, but not limited to, bank statements, payslips or matched betting evidence. Should you fail to provide satisfactory responses to our queries, Smarkets may suspend the account and all account functionality, including, but not limited to, bet management and withdrawal of funds or close the account. Smarkets may pass on such information, as it deems necessary to the relevant authorities.
2.19 You may close your account at any time by withdrawing all funds and emailing us.
3.1 The default rate of commission on Smarkets is 2% of net winnings in each market.
3.2 Users on the default rate of commission will be limited to a total of 1500 placed bets or £1,000,000 in placed amount staked per calendar month, whichever is reached first.
3.3 Users can opt in to a Pro Tier of commission of 1% on winnings or losses per bet. Users on this tier will not be limited on number of orders or staked amount. The minimum opt-in period for this tier is three calendar months plus the time between opt-in and the end of that month.
3.4 Smarkets may also apply the Pro Tier rate of commission to individual accounts without those accounts meeting the above thresholds (of clause 3.2), most commonly if the account in question is regularly close to meeting the thresholds (of clause 3.2) or when the commission paid under the default structure is not aligned with the account’s trading activity. In such cases, we will contact the account owner via email and notify them prior to the Pro Tier taking effect. If the user chooses to continue trading following this notification, any bets that settle after Pro Tier takes effect will be settled with the Pro Tier commission structure.
3.5 The Select Tier commission rate is a charge which is applied to a very small number of the most profitable users. Users who have made a net profit of over £25,000, or currency equivalent, with Smarkets over the previous 12 calendar months may be switched to the Select Tier commission rate of 3% on winnings or losses per bet. This commission rate will be charged instead of the default rate of commission. Users on the Select Tier commission rate will not be limited on number of bets or staked amount.
3.6 Users whose accounts are eligible to be charged the Select Tier commission rate will be notified of this by email 7 days in advance of their account moving to the Select Tier commission rate.
3.7 Users on the Select Tier commission rate whose profit over the previous 12 calendar months falls below £25,000 can request that their commission be moved back to their previous rate at Smarkets’ discretion by contacting Smarkets’ customer support team.
3.8 All commissions will be calculated and charged at time of market settlement. Bets will be settled based on the user's commission at time of market settlement and not at time of placement.
3.9 Users can request to opt in and out of the Pro Tier by contacting our customer support team by live chat, email, or phone. Smarkets’ decision on any move to or from the Pro Tier will be final.
4. Inactive accounts
4.1 An inactive account is any gaming account that has been inactive for a period of twelve (12) months or more, meaning that you have not logged in for that period of time.
4.2 Any gaming account deemed to be an inactive account will be charged an administrative fee equivalent to five Euros (€5) if you reside outside of the UK, or, if you reside within the UK, five Euros (€5) or 5% of your remaining account balance per month, whichever is highest.
4.3 Smarkets will notify the player that an inactive account fee shall be charged thirty (30) days prior to any fees being incurred.
4.4 The said administrative fee will be charged monthly until the inactive gaming account either becomes active again, in which case the maximum fee applicable will be that of six (6) months, or the account balance is reduced to zero (0).
4.5 Smarkets will attempt to repay the account balance to the last payment method used before charging any administrative fees.
4.6 We are entitled to close any Inactive Account whose balance has been reduced to zero for a period of six (6) consecutive months.
4.7 You may request a refund of all inactive account fees charged at any time by contacting customer support.
5. Deposits, transfers and withdrawals
5.1 Deposits can be made into the account by bank transfer, debit card, Skrill, Neteller or Trustly. The name on the card or the bank account or any other payment method should be identical to that of the account holder. If Smarkets identifies that funds have been deposited to your account from a third party, we reserve the right to immediately return the deposit back to the source and void any winnings that have arisen from such a deposit. Any charges levied by the banks and/or payment gateways will be deducted from the reversed amount.
5.2 When depositing by debit card, your debit card account will be debited immediately upon completion of the transaction.
5.3 Minimum deposits: The minimum deposit amount for each payment method will be published on the Smarkets minimum deposit page.
5.4 Funds deposited into accounts may be eligible for a transaction fee levied by Smarkets. Fees eligible will be determined in accordance with Smarkets’s Payment Methods Policy.
5.5 Any funds deposited must be used for the placing of bets. Where you act in contradiction to this rule and request a refund of a deposit made without placing any bets, the decision on whether to process this refund is at Smarkets’s sole discretion.
5.6 Funds deposited should be used for betting purposes only, and any deposit or withdrawal activity should be matched by commensurate betting activity. In addition to the payment methods noted on the Payment Methods page, we also reserve the right to set off any fees incurred by processing your payments against your account without notice should we consider that you are abusing any of our payment methods.
5.7 Any suspicious activity on an account may lead to the account holder being reported to the relevant authorities and freezing of the account fund, and could also lead to the closure of the account, confiscation of funds and subsequent forfeiture of said funds in favour of the relevant authorities.
5.8 Bonuses can from time to time be placed into your account as part of a promotion. Applicable promotion terms will be published at the time of the promotion.
5.9 Funds cannot be transferred from the account of one account holder to the account of another account holder.
5.10 You may log in to your account to view a statement of account which will show all transactions effected on that account, namely deposits, bonuses, winnings, bets made, pending bets and withdrawals. You can decide to withdraw part or all of your funds from your account by selecting from the various options made available by Smarkets. Depending on the currency and on the chosen withdrawal option, certain transaction fees may apply, which are detailed on the withdrawal fees page.
5.11 Whenever possible Smarkets will process withdrawals using the same method and account chosen by the account holder to make deposits. When it is not possible to do so, the account holder will be required to withdraw back at least the amount deposited via the same method before any additional funds can be withdrawn. The withdrawal method used will remain at the discretion of Smarkets. Any withdrawals made by bank wire or cheque will only be payable to the name used when registering with the site.
5.12 The minimum withdrawal amount for each payment method will be published on the Smarkets minimum and maximum withdrawal fees page.
5.13 Smarkets will attempt to process any withdrawal requests within five working days from receipt of such request.
5.14 You acknowledge that Smarkets may only process withdrawal requests once identification and/or verification requirements have been satisfied by you.
5.15 All deposits, transfers and withdrawals will be checked to prevent money laundering.
5.16 If within two weeks of a withdrawal request being made, Smarkets is unable to verify your identity to its satisfaction, the withdrawal request will be cancelled and the funds returned to your account.
5.17 Payments will show up on your debit card statement as "Smarkets Ltd".
5.18 As part of the ‘Know Your Customer’ process, Smarkets is required to authenticate the identity of any member attempting to withdraw an amount over one thousand four hundred and fifty pounds sterling (£1,450) or the equivalent in any other currency. Smarkets may also choose to authenticate the identity of a member withdrawing smaller amounts.
5.19 Smarkets is required by the UK Gambling Commission to inform its customers about what happens to funds that we hold on account for you, and the extent to which funds are protected in the event of insolvency. For further information on the Gambling Commission’s approach and requirements concerning the protection of customer funds, please take the time to read the Gambling Commission's policy on the protection of player funds.
All customer funds deposited by customers registered in the UK are held by Smarkets (Clients) Limited, a group company established for the exclusive purpose of holding customer funds, under the terms of the Trust Deed. This arrangement meets the Gambling Commission's requirements for the protection of customer funds at the level: high.
Deposited funds will be deemed to be “in transit” for a period of one week. During this time they will not be held by the Trustee and protected under the terms of the Trust Deed.
5.20 Smarkets holds the funds of players registered outside the UK separately from business accounts in dedicated ring-fenced accounts for players.
5.21 For open banking deposits and withdrawals Smarkets use a tool provided by TrueLayer Limited (www.truelayer.com) ("TrueLayer") that allows you to send information on your payment accounts to us and other service providers, and allows us to initiate a payment on your behalf on your payment accounts.
In order to use this service, you may be asked to enter your payment account details with TrueLayer and agree to their Terms of Service. The Terms of Service set out the terms on which you agree to TrueLayer accessing information on your payment accounts for the purposes of transmitting that information to us or initiating a payment on your behalf. TrueLayer's Terms of Service are available here.
6. Betting rules
Before placing a bet you should make yourself aware of both the general betting rules and the sport-specific rules for the relevant market. Please also note that betting rules can vary between operators in the industry.
6.1 A bet can only be placed by a registered account holder.
6.2 A bet can only be placed over any electronic communication device such as a mobile phone or over the Internet.
6.3 You may only place a bet if you have sufficient funds in your Smarkets account.
6.4 Once settled, the bet will be governed by the version of Terms and Conditions and Betting Rules valid at the time the bet is accepted.
6.5 A bet is deemed to have been placed as soon as confirmation of the acceptance of the betting offer is received on the device or computer of the account holder from Smarkets.
6.6 You declare that at the time you place a bet, you have no knowledge as to the outcome of the respective events. Bets on games in which you have gained access to insider information are not allowed. Where there is a suspicion of a violation of this rule, Smarkets retains the right to void the bet and refuse to pay out winnings. It also retains the right to take any further action to protect its legitimate interests and to comply with other laws and regulations.
6.7 Bets matched or placed after the outcome of an event has been determined may be voided at Smarkets’s discretion.
6.8 Smarkets retains the right to suspend any market and to cancel existing offers, if necessary.
6.9 The list of all the bets, their status and details are available to you on the website after login.
6.10 Should betting on an event be stopped, you will be refunded the whole amount of your open offer(s).
6.11 Should Smarkets decide to close your account, bets which have already been placed and accepted will not be voided and you will be paid any winnings.
6.12 All bets are matched based on percentage odds; any bets submitted in decimal, fractional or American odds formats are first rounded to the nearest 100th of a percent.
6.13 The conversion to percentage odds can result in rounding of stake or liability to the nearest penny in either bets placed or returns paid to customers.
6.14 You may cancel unmatched offers. You are reminded that not all of your original offer may remain available for cancellation; some or all may have already been matched with another customer. Please also note that once an order has been placed on the exchange, there is no guarantee that you will be able to amend, withdraw or cancel it.
6.15 A mistake regarding the details of a bet placement will not influence the validity of the bet.
6.16 Smarkets reserves the right to void all bets on a market where incorrect information is displayed or where there is an error in the market or event.
6.17 When you place a bet, you acknowledge that you have read and understood in full all of the terms and conditions and game rules regarding the bets offered by Smarkets as stated on the website.
6.18 When you place a bet, you recognise that unless other customers match this bet, you cannot win or lose even if the outcome of the event is as predicted, and your stake will be refunded when the market is halted.
6.19 When placing a bet, you are aware that you may be betting against software applications such as bots or trading software.
6.20 In order to provide a better betting service, Smarkets partners with liquidity providers in order to ensure price coverage on the maximum number of markets.
6.21 When placing a bet, you are aware that slower devices or internet speeds may hamper user experience and provide disadvantages when navigating the site and placing bets on the exchange.
6.22 Smarkets manages your account, calculates the available funds, the pending funds, the betting funds as well as the amount of the winnings. Unless proved otherwise, these amounts are considered as final and are deemed to be accurate.
6.23 You must check that the liability and potential pay-out are correct before placing bets.
6.24 You are responsible for ensuring that any bet you place is on your intended selection. For example, in the case of two football teams playing each other in different competitions in quick succession you must ensure that you know you are placing the bet on the chosen event.
6.25 If a better price is available in the market you will be matched at that price (or prices) dependent on the liquidity available. This process is called "best price execution" and will be applied automatically when appropriate for your bet. This means that if you place a back bet with odds of 2, but another customer is already offering odds of 2.2, your bet will be matched at the more favourable price of 2.2. When best price execution occurs, it is bet quantity which stays constant after you benefit from a better price. Bet quantity is defined as stake*odds. So the new stake (after BPE) = the bet quantity/new better odds.
6.26 You are fully responsible for the bets placed on Smarkets. Smarkets will never question you about the relevance of the bets you wish to place and will not be held responsible for mistakes that could have been made during the placing of such bets, including the stake amounts, price or side of the bet.
6.27 Winnings will be paid into your account after the final result is confirmed. However, Smarkets reserves the right to set aside any winnings should there be investigations into the result of an event caused by a suspicion of criminal activities that may have affected the result of the event. If the irregularity is confirmed, then Smarkets retains the right to void any related bets.
6.28 Should Smarkets become aware that you have placed a number of bets from different accounts you have irregularly opened, all bets will be voided. Smarkets retains the right to take further action as deemed necessary.
6.29 Our services are provided for legitimate betting purposes only. You agree not to bet on any market with the intention or the effect of adversely affecting its integrity. You also agree not to obstruct or hinder Smarkets’s business operations.
6.30 In the interest of preserving the integrity and fairness of the exchange, Smarkets retains the right to void bets we deem to be clearly erroneous. Please read our clearly erroneous bets policy.
6.31 Collusion, either through the use of the public chat facilities or by any other means, is forbidden.
6.32 You are forbidden from placing bets with the intention of transferring funds to another account.
6.33 It is your responsibility to keep records of your transactions.
6.34 You agree to inform us as soon as you encounter any errors in the Smarkets software.
6.35 Odds and liquidity shown on the Smarkets website are an indication of the amounts available in Smarkets’ backend. In the event of any errors in publishing the odds and liquidity on the website, the amounts available in the Smarkets backend shall be final and binding.
7. Prohibited Activities and Suspicious Betting
7.1 You may only use your account for lawful gambling in accordance with these General Terms and Conditions. You may not engage in any activity which we define below (section 7.2) as a "Prohibited Activity" and/or any activity which we define below (section 7.3) as “Suspicious Betting” and you acknowledge and understand that the consequences of you doing so will result in suspension or termination of your account, which will be subject to the terms outlined in section 8 “Suspension or Termination of Your Account”.
7.2 The following activities are prohibited:
7.2.1 using any payment method whereby the name registered on that funding instrument does not match the name registered on your account. This includes all financial/bank accounts and/or debit (or where permitted, credit) card(s).
7.2.2 if we suspect you (acting reasonably) to be depositing or withdrawing money or otherwise using our services without genuine play;
7.2.3 if you have disguised or interfered with the IP address of the computer you are using to access Smarkets (including if you are using a VPN to disguise your location) or are otherwise taking steps to prevent us from correctly identifying the IP address of the device you are using;
7.2.4 if we have received a "charge-back" and/or a "return" notification via a deposit mechanism used on your account;
7.2.5 if we have reason to believe you are using the services other than for your own personal and recreational use, including if you are acting on behalf of any third party;
7.2.6 if you deposit money into your account which originates from any illegal activity or any illegal/unauthorised source;
7.2.7 if you allow (whether intentionally or unintentionally) someone else to use your account;
7.2.8 if you have deliberately or fraudulently opened or are using one or more duplicate account(s);
7.2.9 if you engage or if we suspect that you have engaged in (acting reasonably) any form of fraudulent or illegal activity, cheating, collusion, money laundering, exploitation of errors, malfunctions or interruption, utilisation of software to gain an unfair advantage, suspicious betting (as defined and further explained in section 7.3) and/or any other unlawful or improper activity;
7.2.10 if we discover that you are accessing Smarkets in contravention of the laws of the country where you are located;
7.2.11 if you are prohibited from entering into a bet by any term of your contract of employment or any rule of a sport governing body or other professional body which applies to you;
7.2.12 if you place a bet on or manipulate any individual market in a manner which we believe (acting reasonably) has the purpose or effect of adversely affecting the integrity of the exchange or any market;
7.2.13 if you attempt to use Smarkets to deliberately transfer money from one account to another by attempting to match bets on a market with another account through collusion;
7.2.14 if you engage in any abusive, offensive or otherwise inappropriate behaviour towards other users of our services or towards our staff;
7.2.15 where we believe (acting reasonably) that you are acting in collusion with others or that you are acting other than on your own behalf;
7.2.16 if you attempt to gain unauthorised access to the website or attempt to alter its software in any way;
7.2.17 if you attempt to sell, transfer or acquire accounts for or from other account holders;
7.3 for the purpose of this clause 7.3, "suspicious betting" refers to where we have reasonable grounds to believe that a bet or a number of bets have been placed in suspicious circumstances. Suspicious betting shall include, but not be limited to:
7.3.1 where there is an inordinate frequency and/or highly unusual pattern of bets (by comparison with betting norms) placed on the same selection(s) in a short space of time;
7.3.2 where the integrity of an event (or events) has been called into question, including, but not limited to where one (or more) of the participants in an event displays exceptional form which we reasonably believe was known to you or someone connected to you at the time of bet placement but was concealed from the public in order to gain an unfair advantage in any bets placed on that event (or those events);
7.3.3 where we have reasonable grounds to suspect that a bet or a string of connected bets were placed robotically (including, but not limited to, use of bots) or by any other means other than the account holder placing each bet manually via their account;
7.3.4 where we reasonably believe that you have used unfair external factors or influences to place your bets;
7.3.5 where we reasonably suspect that you have engaged in any other suspicious betting activity which amounts to market abuse, market manipulation, suspected or attempted fraud, suspected illegal activity, or any other suspicious activity which is not explicitly mentioned in section 7.3 of these terms
8. Suspension or Termination of Your Account
8.1 If we have reasonable grounds to suspect that you have engaged in any Prohibited Activity and/or Suspicious Betting outlined in section 7, we will suspend your account without notification, and your account will remain suspended while the matter is investigated. Your funds cannot be accessed or withdrawn during periods of suspension, and any balance will remain in your account.
8.2 If our investigation results in our decision (acting reasonably) that the issue has been resolved to our satisfaction, we will lift the suspension. If our investigation results in our decision (acting reasonably) that you have engaged in any Prohibited Activity and/or Suspicious Betting activity outlined in section 7, we will restrict or permanently close your account. In these circumstances, your details may be passed on to any applicable regulatory or law enforcement authorities or any other relevant external third parties.
8.3 Any balance in your account at the time of any closure by us will be paid back to you, except that:
8.3.1 if you have engaged in illegal activity, we are under no obligation to refund to you any money that may be in your account; and
8.3.2 if we determine (acting reasonably) that you have participated in any Prohibited Activities and/or Suspicious Betting activity outlined in section 7 then we will void any affected transactions and/or bets, withhold all or part of your account balance which is attributable to those Prohibited Activities and/or Suspicious Betting activities, and recover from your account deposits, pay-outs, bonuses and/or any winnings which are attributable to those Prohibited Activities and/or Suspicious Betting activities as well as any processing or operational fees we incurred in the course of your account being active with us. If you have withdrawn any sums which are attributable to Prohibited Activities and/or Suspicious Betting activities, such sums shall be deemed to be held by you on trust for us and must be immediately repaid to us when a demand for payment is made by us to you.
8.4 We are entitled to suspend or terminate your account at any time for any reason (and without the obligation to provide a reason).
8.5 Whereby we take the decision, or are required to, permanently close your account, for example if you have materially breached these terms and conditions or we no longer operate in the jurisdiction of which you are a resident, we reserve the right to (acting reasonably) deduct any processing fees we have incurred from any account balance being refunded to you.
9.1 Smarkets offers you the ability to bet in currencies other than the default GBP.
9.2 Any orders on the exchange will appear to you to be in their own currency.
9.3 Upon placing an order it will be converted to a quantity linked to the value of GBP at an exchange rate set by Smarkets. This will be invisible to you.
9.4 The value of bets will not be affected by fluctuations in the exchange rate.
9.5 You are limited to betting in one currency.
9.6 Requests to change your currency must be directed in writing to firstname.lastname@example.org.
10. Data usage
10.1 Horse racing and sports data, including data provided by PA, may only be used for your personal use. The distribution or commercial exploitation of the data is prohibited.
10.2 Use of sports data, including from PA, is at your sole risk.
10.3 Neither Smarkets nor any of our sports data licensors (including PA) gives any warranty that the supply of the data will be uninterrupted or as to the accuracy of the data.
10.4 Scores shown on site in-play are subject to a delay and may not be accurate at the time you place your bet. You are responsible for ensuring the state of the match at the time you place your bet.
11. Responsible gaming
11.1 You may set your own limits on the amount you want to allow yourself to bet or deposit in a specified period of time. The limit can be removed by you through the Account function after the user-specified time period elapses.
11.2 Changes to account limits, restrictions or exclusions are subject to a seven day cooling off period.
11.3 You have the right to self-exclude from your account for a definite or indefinite period of time should you no longer wish to bet. It is not possible to reopen your account during the term of the self-exclusion. However, you can increase the term of your self-exclusion at any time and the increase will take effect immediately after it is received. A self-exclusion will remain in force at the expiry of the term of the self-exclusion unless you take steps to re-activate your account (a one day cooling off period will apply). Smarkets will not accept a bet from you contrary to an exclusion set by you under this regulation.
11.4 We take responsible gambling very seriously and if you try to open duplicate accounts with us during your period of exclusion we will do our best to detect and close them. In the event you’re able to access Smarkets services, any losses incurred during the period before detection and closure of the duplicates will not be refunded. Smarkets also reserves the right to withhold any winnings that have been obtained, with only the amount deposited returned to you.
11.5 Any winnings withheld will be donated to a responsible gambling charity of Smarkets choice.
11.6 Please refer to our Responsible Gaming policy for more information.
12.1 Smarkets and its logo are trademarks of Smarkets Limited. Any unauthorised use of the brand and/or the logo of Smarkets could lead to legal prosecution by Smarkets.
12.2 All of the contents found on the website pages of smarkets.com as well as its URLs are owned by Smarkets. Any unauthorised reproduction or use of this URL address or of the contents of the Smarkets website could lead to legal prosecution.
13.1 Smarkets is only liable for gross negligence or deliberate actions carried out by its management, employees or various agents.
13.2 Smarkets is not responsible for the services, pages or contents of websites to which links may be provided from time to time from the Smarkets website.
13.3 Smarkets is not responsible for any consequences resulting from major incidents such as any strike, terrorist activities, political crisis, war, and saturation of the telecommunication networks, natural catastrophe, or any other matter beyond Smarkets's control; which could lead to a total or partial reduction, to the access to its services, on Internet or by phone. In such an event, we may (in our sole and absolute discretion) cancel or suspend Smarkets services without incurring any liability.
13.4 Smarkets is not to be held responsible for the consequences caused by the breakdown of any device or software, directly managed or outsourced, which could lead to a total or partial reduction to the access of its services, via Internet or by phone.
13.5 In the event of any mistake or negligent act from Smarkets’s part, in relation to these terms and conditions, the compensation available to you would never be any higher than the available funds on your account or the amount of the bets involved in the mistake or negligent act.
13.6 Should one or more term or condition of this agreement be declared void by a recognised Court of Justice, then the remaining terms and conditions would retain their validity.
13.7 These terms and conditions represent the whole of the agreement between Smarkets and you, and replace any previous written or verbal agreement, communicated by or to Smarkets.
13.8 Smarkets does not accept any liability whatsoever for damage to you or a third party which arises directly or indirectly from a mistake, misprint, malfunction of software on the Smarkets website or that of any of its affiliates and/or partners.
14.2 You hereby agree that anonymised betting information may be shared with third-party partners.
14.3 You hereby agree and accept to receive marketing communications from Smarkets, unless you have chosen to opt out by updating your settings.
14.4 You agree that your personal details provided to Smarkets as part of the account registration as well as documents provided to Smarkets as part of any identity verification process shall be kept on file on Smarkets’s servers and may be transferred to the relevant authorities if and when requested.
14.5 As part of the registration process, we may supply your information details to authorised credit reference agencies and identity verification companies to confirm your identity, payment card details and other details. You agree that we may process such information in connection with your registration.
14.6 Smarkets uses the personal information and other information the Company (or others on its behalf) collect from or about you to deliver the services, to provide customer support and to undertake necessary security and identity verification checks (including checks by trusted third parties).
14.7 The Company will retain all of your personal information for the time set by applicable legislation and the directives of regulators. While you may request from the Company to erase any and all of your personal information, the request will be answered only as long as it is compliant with applicable legislation and the directives of the regulators.
15. Technical difficulties
15.1 If Smarkets becomes unavailable (such as during a DDS attack or through unscheduled downtime) leaving you unable to manage open bets please contact customer support immediately to clarify your position.
15.2 Once an order has been placed on the exchange, there is no guarantee that the order will be able to be amended, withdrawn, cancelled or traded out of by the account holder.
15.3 A bet is deemed to have been placed as soon as it has been processed by our servers. The acceptance message is normally quick, however, in exceptional circumstances, it may be delayed in which case you should refresh your browser and check your account page and, if still not present, contact customer support who will be able to clarify your position.
15.4 Communication errors do occasionally happen. Should there be a break in communication after you place your bet and it has been received on our servers, it will still be considered to have been made. You will be informed that it has been accepted once communication is re-established. If the bet is not received at our servers, then it will not participate and the bet amount will not be taken from your account with us. If you are unsure of your position, do not place a further bet until you have contacted customer support to confirm your position.
16.1 Smarkets will endeavour to make your experience with us an enjoyable one. However, there may be occasions where you feel dissatisfied with the quality of our product or of our customer service. You may raise a complaint by addressing an email to our customer support. Your complaint will be escalated to management and we will endeavour to tackle it within two working days of receipt and the outcome will be communicated to you within 10 days of receipt of the complaint.
16.2 In the event that Smarkets is unable to resolve the dispute and there is a deadlock in place, customers within the UK can contact IBAS (Independent Betting Adjudication Service) who are our third-party adjudicators in all disputed matters. All contact with IBAS regarding a dispute is carried out in writing and accordingly an adjudication form must be requested in the first instance. IBAS contact details for adjudication are as follows:
PO Box 62639
16.3 Customers outside of the UK can instead contact eCOGRA in the event that Smarkets is unable to resolve a dispute and a deadlock is in place. To raise a dispute with eCOGRA please go to https://ecogra.org/ata/policies_procedures.php and follow the procedure using their dispute form.
16.4 Customers outside of the UK and Sweden may also raise their dispute with the Malta Gaming Authority by visiting their player support portal at https://www.mga.org.mt/support/online-gaming-support/ or by emailing email@example.com.
16.5 Customers within the European Union may also use the EU Online Dispute Resolution service to assist with their dispute: https://ec.europa.eu/consumers/odr
17. Standard Terms for promotions
17.1 You must be 18 years of age or older to bet and/or participate in promotions. Entries from underage account holders will be void.
17.2 Promotions are only available once per individual. Smarkets may determine at its sole discretion whether it believes different accounts are connected to the same individual using whichever means it deems appropriate. If a duplicate account has been used, Smarkets reserves the right to withhold any promotional benefits.
17.3 By entering the promotion, you accept and agree to be bound by these terms and conditions in addition to any specific terms and conditions relating to the promotion.
17.4 Users opting in to the Pro Tier will not be eligible for commission-based promotions.15.5 Any decision by Smarkets with regard to any matter concerning or related to promotions is final and no correspondence will be entered into.
17.6 Email and SMS promotions will only be available to those users who received a promotional email or text message directly from Smarkets.
17.7 Users placed on either the Pro Tier or Select Tier commission rates will not be eligible for any promotional commission rates.
17.8 Smarkets reserves the right, at its sole discretion, to exclude you from any promotions.