LONDON, July 10, 2015 /PRNewswire/ --
Leading online betting exchange Smarkets has grown exponentially during 2015 with doubled profits for the first two quarters of the year. This performance has been matched in trade volume that has doubled quarter over quarter, whilst the number of active traders has quadrupled since 2014. Wimbledon has provided a compounding effect, as Smarkets's "Win with Wimbledon" promotion attracted tens of thousands of entries, including valuable new tennis customers to the Company's draw for Centre Court tickets to the Men's Final this Sunday.
With every major sporting event resulting in triple-digit growth numbers on the year, Smarkets is poised to position itself for growth into other strategic markets. With pre-tax profit estimates of £6mm for 2015, the company valuation has swelled to over £100mm within the last year, on its way to a possible IPO.
In less than four years, Jason Trost has grown Smarkets into a successful company that has seen more than £1 billion traded on the exchange. Jason is a pioneer in the field of betting platform technology. While most bookmakers and exchanges outsource technical services, Smarkets has an in-house team of engineers who have built the product from the ground up.
Jason Trost, Founder and CEO of Smarkets, says: "We believe our growing customer base is a result of our continued efforts to provide transparency, excellent odds and industry low commission. We're hoping the momentum continues as traction for this year's Wimbledon has overshadowed the previous year completely. We're pleased to see that our drive to build on the tennis vertical is resonating with existing and importantly, new customers."
Earlier this year the business celebrated reaching the one billion pound traded milestone, following an epic response to the Cheltenham Festival and record-breaking interest in the Grand National. The drive continued into the conclusion of the football calendar and a current record breaking Wimbledon.
Smarkets has proved the potential of applying financial trading principles to the online sports world. Their goal was to make a difference by developing an online platform focused on honest, transparent and user-centred trading. Smarkets offers trading opportunities on all major sports and niche markets such as politics and current affairs. The firm's commission structure of a flat 2% of net profits is drastically lower than other online competitors.
Notes to Editors
Launched 2010, Smarkets is an industry-leading betting exchange that makes trading on events secure, efficient and exciting. Smarkets' award-winning technology facilitates market trading that enables users to set their own prices and bet against one another, right up until the end of an event. Forged from trading principles found within the financial markets, Smarkets brings intelligent betting to the forefront of an age-old industry. Headquartered in London, UK, the company has processed over £1 billion pounds worth of transactions for customers across the company's licensed and regulated markets.
- Smarkets is a betting exchange that offers a secure and transparent platform for trading on sporting, political and current affairs events.
- The company was founded in 2008 by a team of finance and software engineering professionals and is backed by T-Venture and Passion Capital.
- Smarkets facilitates peer-to-peer market betting where users set their own odds and bet against each other not only before an event starts but right up until the end of any event.
- The platform offers unparalleled value that combines cutting edge technology with a focus on transparency and treating the customer fairly.
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