Who Sets the Odds on Smarkets?

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Donga
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Donga

Who Sets the Odds on Smarkets?
« on: August 16, 2018, 08:30:34 PM »
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Maybe this is a stupid question, but who sets the odds on Smarkets?

I notice that usually the odds there seem to adjust to match those on Betfair's exchange, but usually the amount can only be matched for a lower price.

If for example Betfair have odds of 2.30 to lay Rochdale and you can instantly get £500 matched, Smarkets will be offering 2.30 to lay Rochdale, but you can only get say £50 instantly matched.

However, as soon as you lay Rochdale at 2.30 for £50, it will instantly appear back for the same price and you can then lay Rochdale at 2.30 for £50 again instantly.

Who exactly is it that is creating these bets? The fact that it automatically happens makes it seem like the work of a bot.

I don't see why anybody at Smarkets would be doing this though as then they would be operating like a sportsbook rather than an exchange.

Also, Smarkets used to offer starting prices of 2.00 for two way outcomes and 3.00 for three way outcomes. However, you could only get something silly like 6p matched. I don't know if they still do these, but it used to be quite lucrative when they were offering these prices when the true odds were around 1.01 or 1.02.

Who exactly was creating those? Was that Smarkets themselves?
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dealer wins
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dealer wins

Re: Who Sets the Odds on Smarkets?
« Reply #1 on: August 16, 2018, 09:34:30 PM »
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Betfair market makers set the price, using the sharp big boy books as a guide.   Betdaq, Smarkets, Matchbook etc copy betfair shaving off 3-5% in my experience.

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