Smarkets on keeping things in-house

Smarkets on keeping things in-house

Wednesday, March 29, 2017
Smarkets has released its first mobile app

Smarkets sees itself as a tech company first and foremost and so it’s surprising that the London based betting exchange, until very recently, did not have a mobile app.

The reason for this though is that a major part of the company ethos is DIY. All products are built in-house, and the apps which are available now on both Android and iOS, are no different.

Smarkets CEO Jason Trost told Totally Gaming: "It may have taken us a little longer than expected to release our first native mobile app, but I place a lot of importance on in-house development.

"We have a brilliant team of engineers and make a big deal out of hiring the right people, so why outsource for something so important like our first app. It's great to have seen the app go live, and Smarkets users are able to manage their position on the go like never before with new features like trade out and keep bets in-play.”

As for the testing of the app he continued: "We tested the app for several months in-house and invited a select group of external users to give us feedback before we pushed the first version out to all users.

"We really think that this is a major improvement on our previous mobile offering and are hoping that it will be a game-changer for us."

The long awaited release of the Smarkets app followed a successful Cheltenham for the company. It saw a total of £137.9m traded on the 28 races, this was up a huge 52% from last year. With 0% commission on the Festival’s first race each day, the company estimates that it saved customers around £60,000. A total of £13.6m was paid out in winnings, and the exchange which prides itself on offering the fairest odds for punters has calculated that a £10 bet on all winners would have netted a customer 32% more profit ‘compared to bookmakers’.

On the exchange it was the festival’s first race, the Supreme Novices’ Hurdle, that saw the highest traded volume for a single event with £9.6m. Total volume on the four 0% commission races was a significant £37.2m, meaning an average per race of £9.3m.

Not too long ago Smarkets was named in the Inc 5000 of Europe’s fastest growing companies. If the app proves as intuitive and easy to use as the main platform then this growth will highly likely continue.

Totally Gaming says: Good things come to those who wait, and we’ve been waiting for the Smarkets app for some time. Following months of in-house testing we’ve no doubt it’ll prove to be another string to the rapidly expanding company’s bow.

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