LONDON, 28 July 2020: Betting exchange Smarkets has launched in Sweden after receiving approval from the national regulator. The London-headquartered company operates one of the world’s leading peer-to-peer platforms for trading on sport, politics and current affairs, and it is now available to users in Sweden at smarkets.com.
Smarkets will become the second licensed betting exchange in Sweden, where online gaming and betting operators reported revenues of SEK14bn (£1.2bn) in 2019, according to figures from regulator Spelinspektionen and the Swedish Tax Agency.
As well as its U.K. base, Smarkets also has offices in Los Angeles and Malta, and is one of the industry’s only operators to own its full technology stack.
Jason Trost, Smarkets CEO/Founder, said: “We know that customers in Sweden have been eagerly anticipating us going live, so I’m very excited to launch the Smarkets exchange there.
“I am confident that our market-leading prices and superior product will appeal to Swedish customers. The fact that we own our tech stack is one of the reasons we are able to offer the best pricing in the industry, and I’m really looking forward to growing our user base in Sweden.”
Sweden is the second new market in which Smarkets has recently launched. Whilst Swedish customers will be able to use the Smarkets betting exchange, the company also introduced its SBK sportsbook app to bettors in the US state of Colorado in June, and plans to release SBK in Indiana before the end of the year. Smarkets has been available to users in the U.K. and Ireland since 2010.
Founded in 2008, Smarkets is an award-winning, product-focused, sports betting company headquartered in London, with offices in Los Angeles and Malta.
It was founded by a team of finance and software engineering professionals, and is backed by Passion Capital and Deutsche Telekom.
The Smarkets platform has processed over £15 billion worth of transactions for customers across the company’s licensed and regulated markets.
SBK is a sportsbook app that delivers industry-disrupting odds. It draws these prices from the Smarkets exchange and offers a sleek, social experience that provides customers with strong exchange pricing on a modern sportsbook interface.