Terms and Conditions

All this lawyer speak can look a little daunting, but we're dealing with money and identity and we take your security and privacy seriously.

If you have any questions or concerns take a look at our frequently asked questions or get in touch with us.

  1. Introduction
  2. Account Rules
  3. Deposits, Transfers and Withdrawals
  4. Betting Rules
  5. Responsible Gaming
  6. Copyrights
  7. Liability
  8. Privacy Policy
  9. Complaints
  10. One Percent Commission Promotion
  11. Standard Terms for Promotions
  12. Refer-a-Friend Terms

  1. Introduction

    1. Smarkets (Malta) Limited is a company registered on the 24th July 2008 under the laws of Malta; Registration number: C 44795; Registered address: Vincenti Buildings, 14/19 Strait Street, Valletta, 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.
    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 144a Clerkenwell Road, London EC1R 5DF, UK.
    3. Smarkets (Malta) Limited was is granted a Class 3 license (LGA/CL3/492/2008) by the Lotteries and Gaming Authority (LGA) in Malta. The LGA is responsible for the regulation of this license.
    4. This agreement establishes the Terms and Conditions for the contractual relationship between Smarkets and any person registering with the company, known as an Account Holder. 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.
    5. Smarkets reserves the right to change these Terms and Conditions including any of the Betting Rules at any time and without prior notice. We will do our utmost to inform our Account Holders should there be major modifications to the Terms and Conditions. Nevertheless, it is the Account Holder's responsibility to regularly check for any changes. Should the Account Holder, due to any possible changes, not wish to continue using the services of Smarkets anymore, he can withdraw all available funds and close the account.
    6. The contractual relationship between the registered Account Holder and Smarkets (Malta) Limited is governed by these Terms and Conditions and by the Laws of Malta.
    7. In the case of any dispute between the English language version of the Terms and Conditions and versions in other languages, the English language version shall prevail.
    8. It is recommended that you print a copy of these Terms and Conditions and the Betting Rules for your records and store them in an easily accessible place.

  2. Account Rules

    1. Any Account Holder applying for an account must be at least eighteen years old, or in the case of Estonia, not less than twenty-one years of age.
    2. Persons who are residents of the United States or Turkey cannot register as Account Holders with Smarkets.
    3. The Account Holders of Smarkets agree to abide by these Terms and Conditions at all times, and also confirm that they are:
      • 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 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.
    4. In the event of an Account Holder not respecting one or more of the rules as mentioned in Account Rules:1, Account Rules:2 and Account Rules:3, Smarkets will close the account and may confiscate the available funds.
    5. It is the responsibility of the Account Holder to verify that when opening an account and conducting business with Smarkets, they are not breaking any laws and are of legal age to gamble in their jurisdiction.
    6. In order to open an account with Smarkets, the prospective customer must correctly fill in the new user registration form found on the website and read and accept the Terms and Conditions as found on the website smarkets.com.
    7. The Account Holder must submit the correct information during his or her registration. The Account Holder also agrees to update this information should there be any changes to their personal data provided.
    8. The Account Holder is restricted to opening only one account or having only one active account.
    9. Smarkets may, at its own discretion and without having to provide any justification, refuse to open an account or close an existing account.
    10. All accounts are opened and transacted in pound sterling currency;
    11. No interest is paid on any funds, irrespective of the amount, held in the Account Holder’s account.
    12. It is the responsibility of the player to keep track of winnings and report them to the proper authorities, if the player resides in a jurisdiction where those winnings are taxable. In Malta, tax is not payable on winnings.
    13. During the registration process the Account Holder will be able to choose his or her log in name and password. This password may be changed by the Account Holder at any time.
    14. The Account Holder must keep his or her login ID and Password secret at all times. In this respect, Smarkets advises the Account Holder not to write down his or her login ID and password in a way that can be easily found or used. Smarkets also advises the Account Holder not to leave his or her computer unattended when logged in so that he can avoid any one using his or her account without his or her consent. Smarkets also advises the Account Holder to construct a password with a minimum length of six characters which contains, as a minimum, upper case and lower case alphabetical characters and numbers or other characters (e.g. Asdf12/3).
    15. If a bet is placed using the username and password of an Account Holder, it will be considered to have been made by that Account Holder and therefore to be accepted and valid.
    16. Smarkets retains the right to examine and confirm the identity of its Account Holders. When deemed necessary, Smarkets will request that documentation proving the Account Holder’s 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.
    17. If an account remains inactive for a period of 30 months or more, Smarkets is obliged to report such accounts to the Lotteries and Gaming Authority, in accordance with the Remote Gaming Regulations. Smarkets may be asked to transfer any outstanding balances to the care of the Authority.
    18. Account Holders may cancel their account at any time by emailing support@smarkets.com.

  3. Deposits, Transfers and Withdrawals

    1. Deposits can be made into the account by bank transfer, wire transfer or by credit card. The name on the credit card or the bank transfer should be identical to that of the Account Holder receiving the funds. If this is not the case, the deposit will be rejected and the funds paid back. Any charges levied by the banks and/or payment gateways will be deducted from the reversed amount.
    2. When depositing by credit card, your credit card account will be debited immediately upon completion of the transaction.
    3. It is also suggested that you print all transaction data and keep them readily accessible for your own records.
    4. Minimum deposits:
      • Ten pounds sterling on deposits made by credit card or wire transfer.
      • Twenty pounds sterling for deposits made by bank transfer.
    5. Any funds deposited must be utilised for the placing of bets. Any suspicious activity on an account could lead not only to the Account Holder being reported to the relevant authorities and freezing of the account fund, but could also lead to the closure of the account and confiscation of the funds.
    6. The Refund Policy of Smarkets is not to effect any refunds. However, it remains at Smarkets’s sole discretion to determine whether a refund request for a deposit made should be considered.
    7. Bonuses can from time to time be placed into an Account Holder’s account as part of a promotion. These bonuses cannot be withdrawn/paid-out but must be used for the placing of bets. A bonus must be used within two months of it being placed in to the account or else it will be withdrawn. More details of each bonus scheme will be published on the website.
    8. Funds cannot be transferred from the account of one Account Holder to the account of another Account Holder.
    9. An Account Holder can at any time log in to his or her account and view a statement of his or her account which would show all transactions effected on that account, namely deposits, bonuses, winnings, bets made, pending bets and withdrawals. Should the Account Holder notice any mistakes he/she should notify Smarkets immediately so that the mistake can be rectified. The Account Holders should report such a mistake within ninety days from when the mistake first appeared on the statement available on the website.

    10. At any time, an Account Holder can decide to withdraw part or all of his or her funds from his or her 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. Smarkets will not charge any fees for withdrawals, however, all bank or payment processor fees will be borne by the Account Holder. Once all the available funds have been withdrawn, the Account Holder has the right to close his or her Smarkets account if he/she wishes to do so.

      The minimum amount for a withdrawal is ten pounds sterling which is effected by bank transfer or credit fund transfer where available.

    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, usually via bank transfer. 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.
    12. Smarkets will do its utmost to process any withdrawal requests within three to five working days from receipt of such request.
    13. The Account Holder acknowledges that Smarkets may only entertain withdrawal requests once it is satisfied about the Account Holder’s identity.
    14. Payments will show up on the Account Holder's credit or debit card statement as "Smarkets Ltd".
    15. Smarkets is required to authenticate the identity of any member attempting to withdraw an amount over 1,750 pounds sterling.

  4. Betting Rules

    1. A bet can only be placed by a registered Account Holder.
    2. A bet can only be placed over any electronic communication device such as a mobile phone or over the internet.
    3. A bet can only be placed by an Account Holder if he has sufficient funds in his or her account with Smarkets.
    4. The bet, once settled, will be governed by the version of Terms and Conditions and Betting Rules valid at the time of the bet being accepted.
    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. The Account Holder affirms that at the time he placed a bet, he had no knowledge as to the outcome of the respective events. Bets on games in which the customer has 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.
    7. Smarkets retains the right to decline to accept bets without providing any reason.
    8. The list of all the bets, their status and details are available to the Account Holder on the website after login.
    9. Should betting on an event be stopped, the Account Holder will be refunded the whole amount of his or her bets.
    10. Should Smarkets decide to close an Account Holder’s account, bets which have already been placed and accepted will not be voided and the Account Holder will be paid any winnings.
    11. A bet which has been placed and accepted cannot be amended, withdrawn or cancelled by the account holder.
    12. The maximum value bet that can be placed is £2000, the minimum bet is £1.
    13. A mistake regarding the details of a bet will not influence the validity of the bet. If the event on which the bet has been placed is incorrect, then this will automatically void the bet.
    14. When the Account Holder places a bet, he acknowledges that he has 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.
    15. When the Account Holder places a bet, he recognises that unless other players back his or her bet, the bet will not be matched and therefore he cannot win even if the outcome of the event is as predicted.
    16. Smarkets manages the Account Holder’s 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.
    17. The Account Holder is fully responsible for the bets placed on Smarkets. Smarkets will never question the Account Holder about the relevance of the bets they 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.
    18. Winnings will be paid into the Account Holder’s 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.
    19. Should Smarkets become aware that an Account Holder has placed a number of bets from different accounts he has irregularly opened, all bets will be voided. Smarkets retains the right to take further action as deemed necessary.
    20. If bets, which exceed any stipulated limits, are erroneously accepted, the excess amount will be disregarded and the bet amount placed will be revised accordingly and the difference paid back to the Account Holder.
    21. Communication errors do occasionally happen. The way our system works is that the bet is confirmed only when it is received on our servers in Malta. 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.

  5. Responsible Gaming

    1. An Account Holder may set his own limits on the amount he permits himself to bet or deposit in a specified period of time. The limit can be removed by the Account Holder through the Account edit function after the user-specified time period elapses.
    2. Any changes requested by the Account Holder to increase limits, remove restrictions or remove the blocking of his or her account will not take place until seven days after the request is received. Requests to further reduce limits or to increase blocking periods will have immediate effect.
    3. An Account Holder may also lock his or her account for a definite or indefinite period of time should he no longer wish to bet.
    4. Please refer to our Responsible Gaming for more information.

  6. Copyrights

    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.
    2. All of the contents found on the website pages of smarkets.com as well as its URLs are owned by Smarkets (Malta) Limited. Any unauthorised reproduction or use of this URL address or of the contents of the Smarkets website could lead to legal prosecution.

  7. Liability

    1. Smarkets is only liable for gross negligence or deliberate actions carried out by its management, employees or vicarious agents.
    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.
    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; which could lead to a total or partial reduction, to the access to its services, on Internet or by phone.
    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.
    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 the Account Holder would never be any higher than the available funds on the Account Holder’s account or the amount of the bets involved in the mistake or negligent act.
    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.
    7. These Terms and Conditions represent the whole of the agreement between Smarkets and the Account Holder, and replace any previous written or verbal agreement, communicated by or to Smarkets.
    8. Smarkets does not accept any liability whatsoever for damage to an Account holder 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.

  8. Privacy Policy

    1. We take your privacy seriously. Please see our Privacy Policy for more detail.

    Complaints

    1. Smarkets will endeavour to make an Account Holder’s experience with us an enjoyable one. However, there may be occasions where an Account Holder may feel dissatisfied with the quality of our product/s or of our customer service. An Account Holder may raise a complaint by addressing an email to our Customer Service at support@smarkets.com. Your complaint will be escalated to management and we endeavour to tackle it within 2 working days of receipt.
    2. Should you not be satisfied with the way your complaint was resolved or handled, you may escalate directly to the Lotteries and Gaming Authority of Malta by sending them an email on complaints@lga.org.mt. It is important that only complaints of a serious nature are escalated to the Authority.

  9. One Percent Commission Promotion

    1. Open to all existing users as of September 4th 2010 without any deposit restrictions.
    2. New users must make a minimum initial deposit of £100.
    3. Users will receive an 80% rebate bonus on commission, giving an effective 1% commission rate. Rebate will be paid weekly on Friday afternoons into the Smarkets account. Rebate will take the form of a 'real-money' rebate and can be used to bet or be withdrawn (standard minimum withdrawal terms apply).
    4. The rebate period will expire on 15th December 2010.

  10. Standard Terms for Promotions

    1. All Account Holders must be aged 18 years or older to bet and/or participate in promotions. Entries from underage users will be void.
    2. Promotions are only available a single time to any 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.
    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.
    4. Any decision by Smarkets with regard to any matter concerning or related to promotions is final and no correspondence will be entered into.

  11. Refer-a-Friend Terms and Conditions

    1. In addition to the Smarkets Standard Terms for Promotions, the following Terms and Conditions apply for the Refer-a-Friend promotion (the "Scheme"):
    2. You cannot refer yourself.
    3. To qualify for the Scheme you must have deposited a minimum of £10 into your account and your account must be in good standing.
    4. The referred person must be a new Smarkets customer and should not have previously held an account with Smarkets.
    5. Referral payments will be automatically deposited into your account in the form of a bonus. The referral bonus cannot be withdrawn; they may only be used to cover lost skates placed on Smarkets. Any profit from those bets may be withdrawn.
    6. Referred friends must use your referral link at time of registration. No rewards will be given if the link is entered incorrectly.
    7. There is no limit to the number of friends you can refer using your code, but in order to remove the possibility of Smarkets being used to generate unwanted email, you may only send 10 emails from the Smarkets referral page.
    8. Sending unsolicited commercial emails (i.e. spam) is unacceptable and will result in you becoming ineligible for the Scheme.
    9. Smarkets reserves the right to exclude you from the Scheme and from the website and reverse any bonus payment at any time if it believes you are attempting to benefit through fraudulent activity.
    10. Smarkets may at any time suspend or void the Scheme for any reason and any liability to you will cease after you have been notified.

Version: 1.8 - Last modified: 01/09/2010