There’s an interesting twist – they plan to offer an open API for people to develop their own betting applications and use the Smarkets infrastructure. Their idea is this: users don’t need knowledge of odds or experience. It’s more about speed and entertainment than sports.
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Smart idea, but how will this crack the chicken-and-egg problem that every prediction exchange (betting exchange) has at inception? How will this help fighting BetFair’s network effect? What makes you think that BetFair and TradeSports don’t offer “speed and entertainment”? Do people really want to trade sports or “develop their own betting applications”? What would prevent BetFair and TradeSports to do the same?
Anyway, best wishes to UK-based Yankees Jason Trost and Hunter Morris. 
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Smarkets – Their web framework. – PDF file
Smarkets – Open-source software they use.
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Look forward to doing lunch at Nando’s again in the near future. It’s clearly the epi-center for gaming startups in London
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