1.Introduction
1.1 Smarkets Iowa Op Co is a company registered on July 28th, 2025 under the laws of Delaware; Registration number: 10269480; Registered address: 251 Little Falls Drive, Wilmington, DE, 19808. Smarkets Iowa Op Co is operating under the trade name "SBK". Accordingly, any reference to SBK shall be construed as constituting a reference to Smarkets Iowa Op Co.
1.2 Smarkets Iowa Op Co. is a wholly owned subsidiary of Smarkets Limited, a company registered on the 17th January 2008 under the laws of the United Kingdom; Company number 06475845; Registered address: 1 Commodity Quay, St Katharine Docks, London, E1W 1AZ, UK.
1.3 Smarkets Iowa Op Co. is licensed by the Iowa Racing and Gaming Commission, license reference number: ____________, issued on the ____________. For customers registered and located in Iowa, the service is licensed and regulated by the Iowa license.
1.4 The SBK platform is designed and maintained by Smarkets Iowa Op Co.
1.5 The contractual relationship between the registered user (known as an ‘account holder’, ‘you’, ‘your’, ‘customer’, or ‘client’) and SBK is governed by this document (the ‘Terms and Conditions’) and by the Laws of Iowa.
1.6 Each person is required to accept these terms and conditions when registering for an account with SBK and is bound by them throughout the existence of the relationship.
1.7 SBK reserves the right to change these terms and conditions including any of the Betting Rules at any time.
1.8 Any changes in terms and conditions made by SBK will be notified to the customer in advance or at the earliest, reasonable opportunity. You reserve the right to accept and proceed, or decline and stop using SBK services upon notification of any changes.
1.9 Should you, due to any possible changes to the terms and conditions, not wish to continue using the services of SBK anymore, you must withdraw all available funds and close the account at the earliest opportunity.
1.10 In the case of any conflict between the English language version of the terms and conditions and versions in other languages, the English language version shall prevail.
1.11 If you require clarification of any of the terms and conditions, rules or settlement then please contact support via live chat on site, or by email.
THESE TERMS REQUIRE THE USE OF ARBITRATION ON AN INDIVIDUAL BASIS TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS AND ALSO LIMIT THE REMEDIES AVAILABLE TO YOU IN THE EVENT OF A DISPUTE. CAREFULLY REVIEW THE SECTION TITLED “DISPUTE RESOLUTION” BEFORE YOU AGREE TO THESE TERMS.
2. Inactive accounts
2.1 An inactive account is any gaming account that has been inactive for a period of twelve (12) months or more, meaning that you have not logged in for that period of time.
2.2 Any gaming account deemed to be an inactive account will be charged an administrative fee equivalent to five USD ($5) per month.
2.3 Smarkets will notify the player that an inactive account fee shall be charged thirty (30) days prior to any fees being incurred.
2.4 The said administrative fee will be charged monthly until the inactive gaming account either becomes active again, in which case the maximum fee applicable will be that of six (6) months, or the account balance is reduced to zero (0).
3. Dormant accounts
3.1 A dormant account is any SBK account that has been inactive for a period of three (3) years. Dormant is defined as an account that you have not logged in for that period of time.
3.2 Subject to the provisions of Iowa Code Chapter 556 (Uniform Disposition of Unclaimed Property), funds of customers that remain in a dormant customer account shall be presumed abandoned.
3.3 SBK shall report and deliver all funds of customers that are presumed abandoned to the Iowa State Treasurer's Office as required by Iowa Code Chapter 556. For questions regarding unclaimed property, contact the Iowa Treasurer's Office at (515) 281-7546 or upreport@tos.iowa.gov.
3.4 SBK will notify the customer sixty (60) days prior to reporting any funds of the customer to the Iowa Department of the Treasury
4. Deposits, transfers and withdrawals
4.1 Deposits can be made into the account by bank transfer, debit card, Skrill, Neteller or Trustly. The name on the card or the bank account or any other payment method should be identical to that of the account holder. If SBK identifies that funds have been deposited to your account from a third party, we reserve the right to immediately return the deposit back to the source and void any winnings that have arisen from such a deposit. Any charges levied by the banks and/or payment gateways will be deducted from the reversed amount.
4.2 Minimum deposits: The minimum deposit amount for each payment method will be published on the Smarkets minimum deposit page.
4.3 Funds deposited into accounts may be charged a transaction fee by SBK. Fees eligible will be determined in accordance with Smarkets’s Payment Methods Policy.
4.4 Any funds deposited must be used for the placing of bets. Where you act in contradiction to this rule and request a refund of a deposit made without placing any bets, the decision on whether to process this refund is at SBK’s sole discretion.
4.5 Funds deposited should be used for betting purposes only, and any deposit or withdrawal activity should be matched by commensurate betting activity. In addition to the payment methods noted on the Payment Methods page, we also reserve the right to set off any fees incurred by processing your payments against your account without notice should we consider that you are abusing any of our payment methods.
4.6 Any suspicious activity on an account may lead to the account holder being reported to the relevant authorities and freezing of the account fund, and could also lead to the closure of the account, confiscation of funds and subsequent forfeiture of said funds in favor of the relevant authorities.
4.7 Bonuses can from time to time be placed into your account as part of a promotion. Applicable promotion terms will be published at the time of the promotion.
4.8 Funds cannot be transferred from the account of one account holder to the account of another account holder.
4.9 You may log in to your account to view your transaction history which will show all transactions effected on that account, such as deposits, bonuses, winnings, bets placed, pending bets and withdrawals. You can decide to withdraw part or all of your funds from your account by selecting from the various options made available by SBK. Depending on the currency and on the chosen withdrawal option, certain transaction fees may apply, which are detailed on the withdrawal fees page.
4.10 Whenever possible, SBK will process withdrawals using the same method and account chosen by the account holder to make deposits. When it is not possible to do so, the account holder will be required to withdraw back at least the amount deposited via the same method before any additional funds can be withdrawn. The withdrawal method used will remain at the discretion of SBK. Any withdrawals made by bank wire or by check will only be payable to the name used when registering with SBK.
4.11 The minimum withdrawal amount for each payment method will be published on the SBK minimum and maximum withdrawal page.
4.12 SBK will attempt to process any withdrawal requests within five working days from receipt of such request.
4.13 You acknowledge that SBK may only process withdrawal requests once identification and/or verification requirements have been satisfied by you.
4.14 All deposits, transfers and withdrawals will be checked to prevent money laundering.
4.15 If within two weeks of a withdrawal request being made, SBK is unable to verify your identity to its satisfaction, the withdrawal request will be cancelled and the funds returned to your account.
4.16 Payments will show up on your debit card statement as "Smarkets Ltd".
4.17 As part of the ‘Know Your Customer’ process, SBK is required to authenticate the identity of any member attempting to withdraw an amount over two thousand US dollars ($2,000) or the equivalent in any other currency. SBK may also choose to authenticate the identity of a member withdrawing smaller amounts.
4.18 SBK is required by the Iowa Racing and Gaming Commission to maintain your funds separate from operational funds, and always maintain a bank account with enough cash to cover all potential outstanding liabilities.
5. Data usage
5.1 Sports data, including data provided by Sportradar, may only be used for your personal use. The distribution or commercial exploitation of the data is prohibited.
5.2 Use of sports data, including from Sportradar, is at your sole risk.
5.3 Neither SBK nor any of our sports data licensors (including Sportradar) gives any warranty that the supply of the data will be uninterrupted or as to the accuracy of the data.
5.4 Scores shown on SBK while a game is in-play are subject to a delay and may not be accurate at the time you place your bet. You are responsible for ensuring the state of the game at the time you place your bet.
6. Responsible gaming
6.1 You may set your own limits on the amount you want to allow yourself to bet or deposit in a specified period of time. The limit can be removed by you through the Account function after the user-specified time period elapses.
6.2 Changes to account limits, restrictions or exclusions are subject to a seven day cooling off period.
6.3 You have the right to self-exclude from your account for a definite or indefinite period of time should you no longer wish to bet. It is not possible to reopen your account during the term of the self-exclusion. However, you can increase the term of your self-exclusion at any time and the increase will take effect immediately after it is received. A self-exclusion will remain in force at the expiry of the term of the self-exclusion unless you take steps to re-activate your account (a one day cooling off period will apply). SBK will not accept a bet from you contrary to an exclusion set by you under this regulation.
6.4 We take responsible gambling very seriously and if you try to open duplicate accounts with us during your period of exclusion we will do our best to detect and close them. In the event you’re able to access SBK services, any losses incurred during the period before detection and closure of the duplicates will not be refunded. SBK also reserves the right to withhold any winnings that have been obtained, with only the amount deposited returned to you.
6.5 Any winnings withheld will be donated to a responsible gambling charity of SBK’s choice.
6.6 If you or someone you know has a gambling problem, free help is available 24/7. Call or text the Iowa Problem Gambling Helpline: 1-800-BETS OFF (1-800-238-7633). Iowa also operates a statewide Voluntary Self-Exclusion Program administered by the Iowa Racing and Gaming Commission (IRGC), which allows individuals to permanently or temporarily ban themselves from all licensed sports wagering in Iowa. To enroll in the Iowa Self-Exclusion Program, contact the IRGC directly at irgceventwagering@iowa.gov. Once enrolled, SBK will suspend your account and is prohibited from marketing to you directly or through any affiliate or service partner.
6.7 Please refer to our Responsible Gaming policy for more information.
7. Copyrights
7.1 SBK and its logo are trademarks of Smarkets Limited. Any unauthorized use of the brand and/or the logo of SBK could lead to legal prosecution by SBK.
7.2 All of the contents found on SBK or associated websites are solely owned by Smarkets Iowa Op Co. Any unauthorized reproduction or use of the SBK app or the URL addresses associated with SBK could lead to legal prosecution.
8. Liability
8.1 SBK is only liable for gross negligence or deliberate actions carried out by its management or employees.
8.2 SBK is not responsible for the services, pages or contents of websites to which links may be posted from time to time on the SBK app.
8.3 SBK is not responsible for any consequences resulting from major incidents such as any strike, terrorist activities, political crisis, war, and saturation of the telecommunication networks, natural catastrophe, or any other matter beyond SBK's control; which could lead to a total or partial reduction, to the access to its services, on Internet or by phone. In such an event, we may (in our sole and absolute discretion) cancel or suspend SBK services without incurring any liability.
8.4 SBK is not to be held responsible for the consequences caused by the breakdown of any device or software, directly managed or outsourced, which could lead to a total or partial reduction to the access of its services, via Internet or by phone.
8.5 In the event of any mistake or negligent act from SBK’s part, in relation to these terms and conditions, the compensation available to you would never be any higher than the available funds on your account or the amount of the bets involved in the mistake or negligent act.
8.6 Should one or more terms or conditions of this agreement be declared void by a recognized Court of Justice, then the remaining terms and conditions would retain their validity.
8.7 These terms and conditions represent the whole of the agreement between SBK and you, and replace any previous written or verbal agreement, communicated by or to SBK.
8.8 SBK does not accept any liability whatsoever for damage to you or a third party which arises directly or indirectly from a mistake, misprint, malfunction of software on the SBK app or that of any of its affiliates and/or partners.
9. Privacy Policy
9.1 We take your privacy seriously. Please see our Privacy Policy for more detail.
9.2 You hereby agree that anonymized betting information may be shared with third-party partners, including but not limited to professional sports leagues like the MLB, NBA, NFL, and NHL.
9.3 You hereby agree and accept to receive marketing communications from SBK, unless you have chosen to opt out by updating your settings.
9.4 You agree that your personal details provided to SBK as part of the account registration as well as documents provided to SBK as part of any identity verification process shall be kept on file on SBK’s servers and may be transferred to the relevant authorities if and when requested.
9.5 As part of the registration process, we may supply your information details to authorized credit reference agencies and identity verification companies to confirm your identity, payment card details and other details. You agree that we may process such information in connection with your registration.
9.6 SBK uses the personal information and other information that it (or others on its behalf) collect from or about you to deliver the services, to provide customer supportt and to undertake necessary security and identity verification checks (including checks by third parties).
9.7 The Company will retain all of your personal information for the time set by applicable legislation and the directives of regulators. While you may request that SBK erase any and all of your personal information, the request will be answered only as long as it is compliant with applicable legislation and the directives of the regulators.
9.8 By accessing, continuing to use or navigating through SBK, you accept that we will use certain browser cookies to improve your customer experience with us. We only use cookies which will improve your experience and will not interfere with your privacy. Please refer to our Cookie Policy for further information on our use of cookies and how you can disable or manage their use should you wish.
10. Technical difficulties
10.1 If SBK becomes unavailable (such as during a DDS attack or through unscheduled downtime) leaving you unable to manage open bets please contact customer support immediately if you wish to cash out.
10.2 Once a bet has been placed on SBK, there is no guarantee that the bet will be able to be amended, withdrawn, cancelled or be subject to cash out by the account holder.
10.3 A bet is deemed to have been placed as soon as it has been processed by our servers. The acceptance message is normally quick, however, in exceptional circumstances, it may be delayed in which case you should refresh your browser and check your account page and, if still not present, contact customer support who will be able to clarify your position.
10.4 Communication errors do occasionally happen. Should there be a break in communication after you place your bet and it has been received on our servers, it will still be considered to have been made. You will be informed that it has been accepted once communication is re-established. If the bet is not received at our servers, then it will not participate and the bet amount will not be taken from your account with us. If you are unsure of your position, do not place a further bet until you have contacted customer support to confirm your position.
10.5 In the event of an unrecoverable malfunction of hardware or software that affects the integrity of a wager, the affected bet(s) will be voided and all stakes returned to the customer's account. SBK will notify affected customers as soon as reasonably practicable. No winnings will be paid on bets affected by an unrecoverable malfunction.
10.6 In the event of an interruption caused by the suspension of data flow from network servers during a live event, SBK will attempt to restore service as quickly as possible. Where a bet has been accepted by SBK's servers prior to the interruption, it will stand. Where the interruption prevents a bet from being received and processed by SBK's servers, the bet will be void and no amount will be deducted from your account. In circumstances where the outcome of an event cannot be verified due to a data suspension, SBK reserves the right to suspend settlement until data integrity can be confirmed.
10.7 You are solely responsible for maintaining the confidentiality and security of your account credentials, including your username and password. You must not share your login details with any third party. SBK will never ask you for your password. Any activity carried out using your account credentials will be deemed to have been carried out by you. If you suspect your account has been accessed by an unauthorised party, you must contact SBK customer support immediately.
11. Standard Terms for promotions
11.1 You must be 21 years of age or older to bet and/or participate in promotions. Entries from underage account holders will be void.
11.2 Promotions are only available once per individual. SBK may determine at its sole discretion whether it believes different accounts are connected to the same individual using whichever means it deems appropriate. If a duplicate account has been used, SBK reserves the right to withhold any promotional benefits.
11.3 By entering the promotion, you accept and agree to be bound by these terms and conditions in addition to any specific terms and conditions relating to the promotion.
11.4 Any decision by SBK with regard to any matter concerning or related to promotions is final and no correspondence will be entered into.
11.5 Email and SMS promotions will only be available to those users who received a promotional email or text message directly from SBK.
12. Dispute Resolution
PLEASE READ THIS CAREFULLY. IT AFFECTS YOUR RIGHTS.
12.1 EXCEPT FOR A CLAIM BY SBK AGAINST YOU CLAIMING INFRINGEMENT OR MISAPPROPRIATION OF SBK’S INTELLECTUAL PROPERTY RIGHTS, ANY AND ALL DISPUTES BETWEEN YOU AND SBK ARISING UNDER OR RELATED IN ANY WAY TO THESE TERMS AND CONDITIONS MUST BE RESOLVED THROUGH BINDING ARBITRATION AS DESCRIBED IN THIS SECTION. THIS AGREEMENT TO ARBITRATE IS INTENDED TO BE INTERPRETED BROADLY. IT INCLUDES, BUT IS NOT LIMITED TO, ALL CLAIMS AND DISPUTES RELATING TO YOUR ACCOUNT AND/OR YOUR USE OF SBK’S SERVICES. THERE IS NO JUDGE OR JURY IN ARBITRATION. YOU UNDERSTAND AND AGREE THAT BY AGREEING TO RESOLVE ANY DISPUTE THROUGH INDIVIDUAL ARBITRATION, YOU ARE WAIVING THE RIGHT TO A COURT OR JURY TRIAL. YOU ALSO AGREE THAT ALL CHALLENGES TO THE VALIDITY AND APPLICABILITY OF THE ARBITRATION PROVISION (i.e., WHETHER A PARTICULAR CLAIM OR DISPUTE IS SUBJECT TO ARBITRATION) SHALL BE DETERMINED BY THE ARBITRATOR.
12.2 YOU AGREE THAT BY ENTERING INTO THESE TERMS AND CONDITIONS, YOU AND SBK ARE EACH WAIVING THE RIGHT TO TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION. YOU AND SBK AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. ANY ARBITRATION WILL TAKE PLACE ON AN INDIVIDUAL BASIS; CLASS ARBITRATIONS AND CLASS ACTIONS ARE NOT PERMITTED.
12.3 THE ARBITRATION WILL BE GOVERNED BY THE COMMERCIAL ARBITRATION RULES AND THE SUPPLEMENTARY PROCEDURES FOR CONSUMER RELATED DISPUTES OF THE AMERICAN ARBITRATION ASSOCIATION ("AAA"), AS MODIFIED BY THIS SECTION. FOR ANY CLAIM WHERE THE TOTAL AMOUNT OF THE AWARD SOUGHT IS $10,000 OR LESS, THE AAA, YOU AND SBK MUST ABIDE BY THE FOLLOWING RULES: (A) THE ARBITRATION SHALL BE CONDUCTED SOLELY BASED ON WRITTEN SUBMISSIONS; AND (B) THE ARBITRATION SHALL NOT INVOLVE ANY PERSONAL APPEARANCE BY THE PARTIES OR WITNESSES UNLESS OTHERWISE MUTUALLY AGREED BY THE PARTIES. IF THE CLAIM EXCEEDS $10,000, THE RIGHT TO A HEARING WILL BE DETERMINED BY THE AAA RULES, AND THE HEARING (IF ANY) MUST TAKE PLACE IN DES MOINES, IOWA. THE ARBITRATOR'S RULING IS BINDING AND MAY BE ENTERED AS A JUDGMENT IN ANY COURT OF COMPETENT JURISDICTION. IN THE EVENT THIS AGREEMENT TO ARBITRATE IS HELD UNENFORCEABLE BY A COURT OF COMPETENT JURISDICTION, THEN THE DISPUTES THAT WOULD OTHERWISE HAVE BEEN ARBITRATED SHALL BE EXCLUSIVELY BROUGHT IN THE STATE OR FEDERAL COURTS LOCATED IN DES MOINES, IOWA, AND YOU AGREE TO SUBMIT TO THE PERSONAL JURISDICTION OF EACH OF THESE COURTS FOR THE PURPOSE OF LITIGATING SUCH DISPUTES. FURTHER, YOU STILL WAIVE YOUR RIGHT TO A JURY TRIAL, WAIVE YOUR RIGHT TO INITIATE OR PROCEED IN A CLASS OR COLLECTIVE ACTION, AND REMAIN BOUND BY ANY AND ALL LIMITATIONS OF LIABILITY AND DAMAGES INCLUDED IN THESE TERMS AND CONDITIONS. CLAIMS OF INFRINGEMENT OR MISAPPROPRIATION OF SBK'S PATENT, COPYRIGHT, TRADEMARK OR TRADE SECRET SHALL BE EXCLUSIVELY BROUGHT IN THE STATE AND FEDERAL COURTS LOCATED IN DES MOINES, IOWA.
12.4 THE LAWS OF THE STATE OF IOWA, EXCLUDING ITS CONFLICTS OF LAW RULES THAT WOULD RESULT IN THE LAWS OF ANOTHER STATE, GOVERN THESE TERMS AND CONDITIONS, YOUR ACCOUNT AND YOUR USE OF SBK'S SERVICES.
12.5 YOU MAY OPT OUT OF THE AGREEMENT TO ARBITRATE. IN ORDER TO DO SO, WITHIN 45 DAYS OF WHEN YOU FIRST CREATE AN ACCOUNT OR ACCESS OUR SERVICES, YOU MUST SEND US AN EMAIL WITH “REQUEST TO OPT-OUT OF AGREEMENT ARBITRATE” IN THE SUBJECT LINE AT CUSTOMER SUPPORT. THE REQUEST TO OPT-OUT MUST INCLUDE YOUR NAME AND MOBILE PHONE NUMBER. IN THE EVENT YOU OPT OUT OF THE AGREEMENT TO ARBITRATE, YOU AGREE TO LITIGATE EXCLUSIVELY IN THE STATE OR FEDERAL COURTS LOCATED IN DES MOINES, IOWA, AND YOU HEREBY CONSENT AND SUBMIT TO THE PERSONAL JURISDICTION OF SUCH COURTS FOR THE PURPOSES OF LITIGATING ANY SUCH ACTION. YOU ACKNOWLEDGE AND AGREE THAT EVEN IF YOU OPT OUT OF THE AGREEMENT TO ARBITRATE, YOU STILL WAIVE YOUR RIGHT TO A JURY TRIAL, WAIVE YOUR RIGHT TO INITIATE OR PROCEED IN A CLASS OR COLLECTIVE ACTION, AND REMAIN BOUND BY ANY AND ALL LIMITATIONS OF LIABILITY AND DAMAGES INCLUDED IN THESE TERMS AND CONDITIONS.
12.6 THIS AGREEMENT TO ARBITRATE WILL SURVIVE TERMINATION OF YOUR USE OF THE SERVICES AND/OR YOUR ACCOUNT AND YOUR RELATIONSHIP WITH SBK. THIS AGREEMENT TO ARBITRATE INVOLVES INTERSTATE COMMERCE, AND, THEREFORE, SHALL BE GOVERNED BY THE FEDERAL ARBITRATION ACT, 9 U.S.C. 1—16 (“FAA”), AND NOT BY STATE LAW. INFORMATION ON AAA AND HOW TO START ARBITRATION CAN BE FOUND AT WWW.ADR.ORG.
12.7 ANY CAUSE OF ACTION OR CLAIM THAT YOU MAY HAVE ARISING OUT OF OR RELATING TO THESE TERMS AND CONDITIONS, YOUR USE OF THE SERVICES, YOUR ACCOUNT OR YOUR DEALINGS WITH SBK MUST BE COMMENCED IN ARBITRATION (OR LITIGATION IF APPLICABLE) WITHIN TWO (2) YEARS AFTER THE CAUSE OF ACTION ACCRUES. AFTER THAT TWO (2) YEAR PERIOD, SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED. SOME JURISDICTIONS DO NOT ALLOW TIME LIMITATIONS OTHER THAN THOSE SET FORTH IN SUCH STATE’S STATUTE OF LIMITATIONS OTHER THAN THOSE SET FORTH IN SUCH STATE’S STATUTE OF LIMITATIONS LAWS. IN SUCH CASES, THE APPLICABLE STATUTE OF LIMITATIONS PROVIDED FOR UNDER THE LAWS OF SUCH STATE SHALL APPLY.
Version: 1.0 - Last modified: 19 May 2025