LONDON, September 8, 2016
Betting exchange Smarkets has announced a year-on-year increase in profit of over 1500% after filing its first audited annual report for the year ending December 31, 2015.
Over £1 billion worth of trades were executed on the Smarkets exchange last year alone as operating profit grew by 1568% to £5.2m (2014: £316,000). Group revenue grew by 429% to £10.4m (2014: £1.965m).
The group comprises of Smarkets, a software development company, Smarkets Malta, operator of the Smarkets betting exchange, Hanson Applied Sciences, a liquidity provider, and Green Affiliates, a sports betting affiliate.
CEO Jason Trost said: “Smarkets is going from strength to strength with a momentum that is undeniable and I am confident of the success of our journey to deliver the unique customer experience that we strive for, and to establish ourselves in the top tier of technology companies.
“Our advanced trading platform has now handled over £3 billion worth of bets, and an increasing number of customers are benefiting from our best prices and industry-leading 2% flat commission.”
With offices in London, Malta and plans to open a US office, Smarkets continues to expand its team while cementing its position as disruptor in the betting industry by offering unparalleled value to customers.
About Smarkets
Launched in 2010, Smarkets is one of the world’s leading betting exchanges that makes trading on events secure, efficient and exciting. Forged from trading principles found within the financial markets, Smarkets brings intelligent betting to the forefront of an age-old industry.
– Headquartered in London, Smarkets has processed over £3 billion worth of transactions for customers across the company’s licensed and regulated markets and continues to grow rapidly because of its industry-leading odds and commission.
– The company was founded in 2008 by a team of finance and software engineering professionals and is backed by T-Venture and Passion Capital.
– The platform offers unparalleled value that combines pioneering technology with a focus on transparency and treating the customer fairly.
