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Smarkets
Company typePrivate
IndustryBetting and gaming
Founded2008
FounderJason Trost and Hunter Morris
HeadquartersLondon
Number of employees
100
Websitehttps://smarkets.com

Smarkets is a UK-based betting exchange company founded in 2008. It has offices in London, Los Angeles, and Malta.[1][2][3]

History

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Smarkets was founded in 2008 by Jason Trost and Hunter Morris as a peer-to-peer platform that allowed its users to bet on various sports and political markets.[4][5][6][7][8]

Smarkets became Queens Park Rangers F.C.'s front-of-shirt sponsor in June 2016.[9] In January 2018, the company announced that it was working with The Jockey Club to sponsor 35 race days in the 2018 calendar.[10] The same year, the company noted that it was considering a US stock market float.[11][12][13]

Smarkets was named the City A.M. Leap 100 Company of the Year for 2017.[14] and came second on the 2017 Sunday Times Tech Track 100 list.[15][16][17][18][19]

The company reported that it had taken £2.7bn of bets and profits of £13.7m in 2016.[20][21][22][23][24][25]

The company notably initiated a wiki-like salary policy; the employees could view salaries of all of their peers, including the company CEO, on an internal wiki page. The company has a self-set salary policy, which authorizes employees to decide their own salary as often as every six months. This process is similar to a peer-review process carried out at designated times during the year.[26][27][28][29][30]

Smarkets has received coverage in mainstream international sources like NY Times,[31][32] Yahoo! Finance,[33][34][35] Forbes,[36][37] ABC News,[38] Washington Times,[39] Inc.,[40] The Guardian,[41] Telegraph,[42][43] BBC,[44][45] and Fox Sports[46] among others.[47][48][49][50][51]

References

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  1. ^ https://finance.yahoo.com/video/biden-takes-lead-over-trump-184237836.html
  2. ^ https://www.cnbc.com/2020/06/03/biden-takes-lead-over-trump-in-2020-presidential-race-betting-markets.html
  3. ^ https://www.newsmax.com/politics/riots-betting-online-favorite/2020/06/03/id/970452/
  4. ^ Donata Huggins (2010-10-07). "The surest bet for business success". City AM. London. p. 30. Retrieved 2010-03-14.
  5. ^ "Diary:Ken Backs out of Press gang". The Independent. 2011-01-28. Retrieved 2011-03-14.
  6. ^ Hasan, Mehdi (21 February 2011). "Gove's reverse Midas touch- everything he touches turns to dust". New Statesman: 16. Retrieved 2011-03-14.
  7. ^ Francesca Washtell (2016-10-10). "Donald fails to trump Hillary as Clinton storms ahead in betting polls". City AM. London. Retrieved 2016-10-19.
  8. ^ https://www.foxnews.com/politics/violence-abated
  9. ^ "Smarkets confirmed as new shirt sponsors". 7 June 2016. Archived from the original on 8 June 2016. Retrieved 22 July 2016.
  10. ^ Chris Wright (2018-01-05). "Smarkets to sponsors 35 racing fixtures including at Aintree and Haydock". The Liverpool Echo.
  11. ^ Russell Lynch (2016-01-18). "QPR sponsor Smarkets considering a US stock market float". The Evening Standard.
  12. ^ https://wtvbam.com/news/articles/2020/jun/04/a-triple-whammy-of-crises-tests-trumps-support-ahead-of-novembers-election/1025611/
  13. ^ http://www.espn.co.uk/chalk/story/_/id/17892685/the-future-sports-betting-how-sports-betting-legalized-united-states-the-marketplace-look-like
  14. ^ "Smarkets wins 'The Leap 100 Company of the Year' at City A.M. Awards 2017". 2017-11-10. Retrieved 2018-06-29.
  15. ^ https://uk.reuters.com/article/uk-minneapolis-police-trump-risks-analys/a-triple-whammy-of-crises-tests-trumps-support-ahead-of-novembers-election-idUKKBN23B1IF
  16. ^ https://www.usnews.com/news/top-news/articles/2020-06-04/a-triple-whammy-of-crises-tests-trumps-support-ahead-of-novembers-election
  17. ^ https://news.yahoo.com/triple-whammy-crises-tests-trumps-104145155.html
  18. ^ https://www.casino.org/news/draftkings-fanduel-downloads-surged-in-may-says-morgan-stanley/
  19. ^ https://www.ozy.com/the-huddle/could-wagering-on-sports-become-a-viable-financial-investment-you-bet/93643
  20. ^ Alys Key (2017-07-13). "Smarkets betting exchange more than doubles profits in year of political betting". City AM. London. Retrieved 2018-06-29.
  21. ^ https://finance.yahoo.com/news/smarkets-bident-takes-largest-lead-yet-vs-trump-in-race-for-white-house-125829673.html
  22. ^ https://gazette.com/business/sports-wagering-launches-in-colorado-with-little-fanfare/article_7a3cbe64-898d-11ea-bd97-b3dde482cc32.html
  23. ^ https://sbcnews.co.uk/sportsbook/2020/05/14/trump-takes-lead-in-presidential-race-as-us-2020-hots-up/
  24. ^ https://www.forbes.com/sites/forbesbusinesscouncil/2020/05/13/five-ways-to-keep-your-remote-workforce-motivated-and-connected/#178bd4d85f06
  25. ^ https://www.sbcnews.co.uk/sportsbook/2020/04/03/smarkets-tips-starmer-as-new-labour-leader/
  26. ^ "The London company allowing employees to decide your pay". BBC News. 2018-05-08.
  27. ^ "Large firms to justify 'fat-cat' pay". Sky News. 2018-06-10.
  28. ^ Rosie Scammell (2018-04-01). "London firm revamps pay by letting staff set salaries". AFP.
  29. ^ Sophie Jarvis (2017-10-18). "The founder of Smarkets is turning workplace hierarchies upside down". City A.M.
  30. ^ https://www.miamiherald.com/news/business/article234708852.html
  31. ^ https://www.nytimes.com/aponline/2019/09/04/us/ap-us-sports-betting.html
  32. ^ https://www.nytimes.com/aponline/2020/04/08/us/ap-us-betting-on-elections.html
  33. ^ https://finance.yahoo.com/news/investors-bet-on-sanders-after-new-hampshire-win-as-biden-plummets-smarkets-192738652.html
  34. ^ https://uk.news.yahoo.com/trump-biden-election-off-limits-192754982.html
  35. ^ https://finance.yahoo.com/video/president-trumps-ratings-expected-change-132458149.html
  36. ^ https://www.forbes.com/sites/forbesbusinesscouncil/2020/02/14/why-attaching-sports-betting-to-local-casinos-is-bad-state-policy/#22b326ff18b8
  37. ^ https://www.forbes.com/sites/sergeiklebnikov/2020/05/21/here-are-all-the-crazy-things-people-are-betting-on-without-live-sports/#b9c27f91e348
  38. ^ https://abcnews.go.com/Sports/wireStory/trump-biden-election-off-limits-us-bettors-70050453
  39. ^ https://www.washingtontimes.com/news/2020/apr/8/trump-biden-election-off-limits-for-us-bettors-so-/
  40. ^ https://www.inc.com/sophie-jarvis/3-challenges-entrepreneurs-face-but-no-one-talks-a.html
  41. ^ https://www.theguardian.com/small-business-network/2017/aug/22/longer-is-better-and-dont-invent-words-picking-the-right-name-for-your-business
  42. ^ http://www.telegraph.co.uk/business/2017/11/04/smarkets-boss-shaking-betting-hierarchies-suck-fun-business/
  43. ^ https://www.telegraph.co.uk/betting/sports-guides/betting-exchanges/
  44. ^ https://www.bbc.co.uk/news/business-49677147
  45. ^ https://www.bbc.co.uk/programmes/w3csy7ds
  46. ^ https://www.foxsports.com/other/story/trump-biden-election-off-limits-for-us-bettors-so-far-040820
  47. ^ https://www.msn.com/en-gb/health/other/coronavirus-brits-turning-to-political-betting-in-absence-of-sporting-events/ar-BB12IO2y
  48. ^ https://www.sbcnews.co.uk/events/2020/03/16/operator-ceos-head-betting-on-sports-europe-speaker-line-up/
  49. ^ https://www.bizjournals.com/denver/news/2020/03/19/colorado-sports-betting-coronavirus.html
  50. ^ https://www.aol.com/article/finance/2020/03/24/dow-skyrockets-to-best-day-in-87-years-as-market-bets-on-stimulus/23960573/
  51. ^ https://www.cnbc.com/2020/02/20/bloomberg-hammered-in-betting-markets-after-democratic-debate.html
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Category:Gambling companies of the United Kingdom Category:Betting exchanges Category:Online gambling companies Category:Gambling websites Category:Social networking services


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