LONDON, March 24, 2017 /PRNewswire/ --
Smarkets, one of the world's largest betting exchanges, has hailed record-breaking numbers after releasing statistics on the platform's performance during last week's Cheltenham Festival.
The London-headquartered company said that year-on-year records were broken across the board during one of the busiest weeks in the horse racing calendar, with a total of £137.9m traded on the 28 races (up 52% on 2016).
Successful traders on the exchange were paid out a total of £13.6m in winnings, while users also enjoyed 0% commission on the Festival's first race each day, saving a total of £60,000 thanks to the promotion.
Other highlights included:
- The Festival's first race, the Supreme Novices' Hurdle, saw the highest traded volume for a single event of £9.6m
- Total volume on the four 0% commission races was £37.2m (an average of £9.3m)
- Smarkets was best priced on all 28 races when compared to leading bookmakers
- A £10 bet on all winners would have netted you 32% more profit compared to bookmakers
Smarkets CEO Jason Trost said: "Cheltenham week is always one we look forward to and we were delighted to see the site perform with 100% uptime under very heavy load.
"It's exciting to have become one of the market leaders in horse racing and was great to see so many users taking advantage of the 0% offer - a hassle-free way to maximise your returns, in contrast to the often confusing free-bet offers many others provide."
Smarkets has also launched its first dedicated mobile app, available on the App Store for iOS and via smrkts.co/smarkets-app on an Android device.
Trost added: "With our new app released just before the Festival, Smarkets users were able to trade and manage their positions on the go like never before with our platform."
Smarkets has made an infographic detailing its Cheltenham statistics which can be accessed via this link.
Notes to Editors
Launched in 2010, Smarkets is one of the world's leading betting exchanges that makes trading on events secure, efficient and exciting. Forged from trading principles found within the financial markets, Smarkets brings intelligent betting to the forefront of an age-old industry.
- Headquartered in London, Smarkets has processed over £3 billion worth of transactions for customers across the company's licensed and regulated markets and continues to grow rapidly because of its industry-leading odds and commission on sporting and political markets.
- The company was founded in 2008 by a team of finance and software engineering professionals and is backed by T-Venture and Passion Capital.
- The platform offers unparalleled value that combines pioneering technology with a focus on transparency and treating the customer fairly.