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Terms and Conditions

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. Inactive Accounts
  4. Deposits, Transfers and Withdrawals
  5. Betting Rules
  6. Multi-currency
  7. Data Usage
  8. Responsible Gaming
  9. Copyrights
  10. Liability
  11. Privacy Policy
  12. Complaints
  13. Chat Facilities
  14. Standard Terms for Promotions
  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, 28/19 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 22-25 Finsbury Square, London, EC2A 1DX, UK.
    3. Smarkets (Malta) Limited was granted a Class 3 licence (LGA/CL3/492/2008) by the Lotteries and Gaming Authority (LGA) in Malta on 10th March 2011. The LGA is responsible for the regulation of this licence.
    4. 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 only. Smarkets's operation as a betting exchange is regulated by the LGA in Malta.
    5. The contractual relationship between the registered user (known as an ‘account holder’) and Smarkets (Malta) Limited is governed by this document (the ‘terms and conditions’) and by the Laws of Malta.
    6. 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.
    7. Smarkets reserves the right to change these terms and conditions including any of the Betting Rules at any time.
    8. Account holders will be notified in advance before any changes to the terms and conditions come into effect.
    9. Should the account holder, due to any possible changes to the terms and conditions, not wish to continue using the services of Smarkets anymore, he/she must withdraw all available funds and close the account.
    10. 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.
  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 France, Turkey or the United States; or persons who are located in countries where betting with Smarkets is prohibited; cannot register as account holders with Smarkets. Smarkets may refuse any jurisdiction access to its services at any time.
    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 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.
    4. Account holders are prohibited from selling, transferring and/or acquiring accounts for or from other account holders.
    5. In the event of an account holder not respecting one or more of the rules mentioned in these terms and conditions, Smarkets reserves the right to close the account and may confiscate any available funds and forfeit them to the LGA.
    6. 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 bet in their jurisdiction.
    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 his or her personal data provided.
    8. The account holder is restricted to opening and maintaining one 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. Any existing contractual obligations will be honoured.
    10. All accounts are opened and transacted in pound sterling currency or Euros;
    11. Account holders shall not treat Smarkets as a financial institution. No interest is paid on any funds, irrespective of the amount, held in the account holder’s account.
    12. If the account holder resides in a jurisdiction where winnings are taxable it is his/her own responsibility to keep track of those winnings and report them to the proper authorities. 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 email and password. This password may be changed by the account holder at any time.
    14. The account holder must keep his or her login credentials secret at all times, and is solely responsible for the security and confidentiality of his or her account.
    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. In the event that sufficient information to identify the account holder in accordance with Smarkets' internal procedures or those required by regulatory authorities is not provided by the account holder, Smarkets may suspend the account and all account functionality, including but not limited to bet management and withdrawal of funds.
    17. Account holders may close their account at any time by withdrawing all funds and emailing support@smarkets.com.
  3. Inactive Accounts

    1. An inactive account is any gaming account that has been inactive for a period of twenty-four (24) months or more, meaning that the account holder has not logged in for that period of time.
    2. Any gaming account deemed to be an inactive account will be charged an administrative fee equivalent to five (5) GBP/Euro per month.
    3. Smarkets will notify the player that an inactive account fee shall be charged thirty (30) days prior to any fees being incurred.
    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).
    5. 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.
  4. Deposits, Transfers and Withdrawals

    1. Deposits can be made into the account by bank transfer, credit card, debit card or Skrill. 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. Minimum deposits:
      • Ten GBP/EUR on deposits made by credit or debit card or e-wallet.Twenty GBP/EUR for deposits made by bank transfer.
    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. Any funds deposited must be utilised for the placing of bets. Where an account holder acts in contradiction to this rule and requests a refund of a deposit made, the decision on whether to effect this refund is at Smarkets’ sole discretion.
    6. 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 to the authority.
    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. More details of each bonus scheme will be published at the time of the promotion.
    8. Funds cannot be transferred from the account of one account holder to the account of another account holder.
    9. An account holder can log in to his or her account to 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. 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.
    10. The minimum amount for a withdrawal is ten pounds by card or bank transfer, or five pounds by e-wallet.
    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 attempt to process any withdrawal requests within five working days from receipt of such request.
    13. The account holder acknowledges that Smarkets may only process withdrawal requests once it is satisfied about the account holder’s identity.
    14. All deposits, transfers and withdrawals will be checked to prevent money laundering.
    15. If within two weeks of a withdrawal request being made, Smarkets is unable to verify the identity of the account holder to its satisfaction, the withdrawal request will be cancelled and the funds returned to the account holder’s account.
    16. Payments will show up on the account holder's credit or debit card statement as "Smarkets Ltd".
    17. As part of the ‘Know Your Customer’ process, Smarkets is required to authenticate the identity of any member attempting to withdraw an amount over 1,750 pounds sterling or the equivalent in any other currency. Smarkets may also choose to authenticate the identity of a member withdrawing smaller amounts.
  5. Betting Rules

    Please click here to to see a list of our sport-specific 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/she 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/she placed a bet, he/she 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. Bets placed after the outcome of an event has been determined may be voided at Smarkets’s discretion.
    8. Smarkets retains the right to decline to accept bets without providing any reason.
    9. The list of all the bets, their status and details are available to the account holder on the website after login.
    10. Should betting on an event be stopped, the account holder will be refunded the whole amount of his or her bets.
    11. 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.
    12. Once an order has been placed on the exchange, there is no guarantee that the order will be able to be amended, withdrawn or cancelled by the account holder.
    13. A mistake regarding the details of a bet placement will not influence the validity of the bet.
    14. If the event on which the bet has been placed is incorrect, then this will automatically void the bet.
    15. When the account holder places a bet, he/she acknowledges that he/she 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.
    16. When the account holder places a bet, he/she recognises that unless other account holders back his or her bet, the bet will not be matched and therefore he/she cannot win even if the outcome of the event is as predicted.
    17. 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.
    18. Account Holders must check that their liability and potential pay-out are correct before placing bets
    19. 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.
    20. 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.
    21. Should Smarkets become aware that an account holder has placed a number of bets from different accounts he/she has irregularly opened, all bets will be voided. Smarkets retains the right to take further action as deemed necessary.
    22. 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.
    23. 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.
    24. Collusion, either through the use of the public chat facilities or by any other means, is forbidden.
    25. Account holders are forbidden from placing bets with the intention to transfer funds to another account.
    26. It is the account holder’s responsibility to keep records of their transactions.
    27. You agree to inform us as soon as you encounter any errors in the Smarkets software and you agree that any amounts in your account that result from human error or technical fault may be forfeited.
    28. Odds and liquidity shown on the Smarkets website are an indication of the amounts available in Smarkets's 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.
  6. Multi-currency

    1. Smarkets offers account holders the ability to bet in currencies other than the default GBP.
    2. Any orders on the exchange will appear to an account holder to be in their own currency.
    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 the account holder.
    4. The value of bets will not be affected by fluctuations in the exchange rate.
    5. An account holder is limited to betting in one currency.
    6. Requests to change an account’s currency must be directed in writing to support@smarkets.com.
  7. Data Usage

    1. The horse racing and sports data, including data provided by PA, may only be used for the account holder's personal use and the distribution or commercial exploitation of the data is prohibited.
    2. Use of sports data, including from PA, is at the sole risk of the account holder.
    3. Neither the 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.
  8. Responsible Gaming

    1. An account holder may set his or her own limits on the amount he/she permits himself to bet or deposit in a specified period of time. The limit can be removed by the account holder through the Account function after the user-specified time period elapses.
    2. Changes to account limits, restrictions or exclusions are subject to a seven day cooling off period.
    3. An account holder has the right to self-exclude from his or her account for a definite or indefinite period of time should he/she no longer wish to bet. A notice decreasing the exclusion takes effect seven days after the notice is received. A notice increasing the exclusion takes effect immediately after it is received. Smarkets will not accept a wager from an account holder contrary to an exclusion set by the account holder under this regulation.
    4. Please refer to our Responsible Gaming policy for more information.
  9. 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.
  10. 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, or any other matter beyond Smarkets' control; 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.
  11. Privacy Policy

    1. We take your privacy seriously. Please see our Privacy Policy for more detail.
    2. Account holders agree that anonymised betting information may be shared with third-party partners.
    3. Account holders agree to receive marketing communications from Smarkets, unless having opted out by updating their settings.
    4. Account holders agree that their 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’ servers.
  12. 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 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.
  13. Chat Facilities

    1. The public chat facilities on Smarkets are for recreational purposes only.
    2. Smarkets will have no liability related to the content of communications.
    3. Smarkets chat facilities are moderated. To that effect, alll conversations made through the Smarkets chat facilities are logged and recorded, and Smarkets may monitor and review the content of any communications with chat messages for unacceptable content.
    4. Unacceptable content includes:
      • material that is defamatory, obscene, pornographic, sexually explicit, vulgar or offensive
      • material that is fraudulent, false, misleading or deceptive
      • violent material, or material that promotes violence
      • material that violates any third party intellectual property rights
      • messages that abuse, bully, harass or discriminate against others
      • any discussion of illegal activity
      • any bigoted or racist material
    5. Any account holder who sees unacceptable content, should report it to a member of staff by sending an email to support@smarkets.com
    6. Any content that is considered by Smarkets to not be in keeping with the Smarkets Community Guidelines may lead to an account holder being blocked from the public chat facilities, and, if appropriate, having their betting account closed.
    7. Smarkets may also choose to restrict use of its chat facilities at any time without providing any reason.
    8. Any suspicious chats will be reported to the LGA.
  14. 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 account holders 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.

Version: 3.0 - Last modified: 13/02/2013