The Grand National, the annual horse racing event in the UK broke all trading records on the Smarkets betting exchange. £76.5m was traded on the betting exchange across the event’s ante-post, winner, and place markets. Of the total traded (£62.1m) was wagered on the primary winner market.
The 2019 figures have broken all records as they have exceeded the past year’s volumes by quite a margin. In 2019, the trade went up a whopping 33 percent from to £76.5m from £57.4m in 2018.
Tiger Roll won the Grand National racing event beating the Gordon Elliott’s superstar which was the clear favorite.
Before the race started, the total overround on the Smarkets winner markets for the Grand National event was approximately 103 percent; however, the standard Industry starting price was 163 percent.
In a statement to the press, Smarkets CEO Jason Trost said: “First of all, I’d like to congratulate the whole team at Smarkets for another hugely successful Grand National. 2019 has started fantastically for us and to see over £76m traded on a single event is incredible.
“It’s clear that more and more people recognize how strong our platform is compared to the competition when it comes to usability and price – the overround from our exchange was much closer to 100% and therefore a lot fairer than what you got with the bookies.
“Next we’ve got the Champions League quarter-finals and Masters golf this week, as well as all the madness surrounding Brexit, so it is an exciting and busy time on our exchange.”