This is just going to be a quick blog to highlight a small change to the way Smarkets operate that could be a sign of things to come, for not just Smarkets but for exchanges as a whole.
The first thing to note is that all of these changes have only been rolled out on their mobile platform so far, so you will not have access to these on your desktop or laptop. The early indications are that these changes will be rolled out on all platforms if they prove successful.
Let’s start by looking at the first change; the new ‘Trade out’ feature. This allows you to lock in a profit or cut losses both pre-game and in-play. Smarkets calculates the trade out in real-time based on live contract prices. Whilst it may not sound like much, this is actually big news as cash out was never an option before on Smarkets and means we can potentially reduce the loss of a misplaced lay bet. As you’ll know, often with lay bets, once they are locked in there is not much you can do, this changes all that.
The second is equally interesting and beneficial to us as matched bettors. It is called ‘Keep bets in-play’. It gives you the option to keep your unmatched bets live once the market goes in-play – providing you with more opportunity to be matched at the requested price. This is fantastic news for us as matched bettors as it potentially avoids the need for us to go through the complex process of placing further lay bets to resolve an unmatched bet.
Smarkets have always been very friendly to matched bettors. They understand our value in the market and to their business. This seems to be a clear nod to us, in particular, as customers – due to these changes being highly beneficial to matched bettors rather than the ordinary punter. With Smarkets becoming a bigger and bigger force in the betting exchange market, changes like this will prompt similar action in the other betting exchanges to avoid being left behind.
Heads&Heads will keep an eye on this change and inform our members when it is rolled out for desktop use as well as mobile.