What is Commission?

The Smarkets platform allows users to place bets against each other. One user (backer) plays the traditional role of a punter, the other (layer) becomes the traditional bookmaker. This regularly results in better odds for customers.

Smarkets, who some would describe as the middleman, charges a small commission. This is a sum of money that is paid on net winnings on each market. Note that this is different from paying a commission on each winning bet.

For example, a customer places three bets on a market. The first wins £5, the second wins £7, and the third loses £2. The commission is charged on the net winnings figure of £10 (£5+£7-£2) and not paid on losing bets.

The default rate of commission on Smarkets is 2%. In context of the example above, a 20p commission would be charged with the customer making an overall profit of £9.80.

There are two other tiers of commission – the Pro tier, at which a 1% commission applies, and the Select tier, at which the commission is slightly higher at 3%.

Further details on these tiers can be found in our terms and conditions by clicking here.

https://help.smarkets.com/hc/en-gb/articles/213469085-Smarkets-Terms-and-Conditions