Smarkets sees 40% boost in trade volume at Cheltenham Festival
The festival has added more than £200 million (approximately $277 million) in only four days into the betting exchange and the SBK app. This marked the very first time in history that a traded amount worth £210 million in betting volume had been attained.
This volume was pretty unwavering during the entirety of the four days at the festival, exceeding £50 million. This shows a huge 40% rise from 2019’s figures, and it actually set a record for the brand of £151 million last year, with the grand total increasing by 59% since then.
Last year, Supreme Novices Hurdle was the race that had the largest betting volume out of all the races, however in 2021 the County Hurdle attained £19.9 million on Friday. Aside from the monetary rises, there has also been an increase in the number of active users of the SBK platform, surging dramatically by 193% and 833% in comparison to the previous year.
CEO of Smarkets Jason Trost explained:
“We had fantastic momentum coming into Cheltenham this year, and to have broken so many records across both the exchange and SBK is a huge achievement. I’m especially pleased with the consistent betting volume across the four days of the Festival and the growth of our sportsbook app SBK. We’ve had lots of good feedback from new customers who were surprised just how much better the odds were with us compared to the bookies this week.”