Lincoln born inside forward Wally Smith began his football career with local Lincoln side Blue Star in 1898 before joining Grantham Avenue in 1899. From there he joined hometown Second Division professional club Lincoln City, making his Football League debut against Small Heath in April 1900. From December 1900 he was a regular in The Imps’ first eleven, scoring 23 goals in 99 appearances before a move to Small Heath (now Birmingham City) in the summer of 1903. However he failed to make any impact at Muntz Street, and joined Newark Town in 1904 without playing for their first eleven.
In 1906 he joined Southern League Brighton & Hove Albion, spending a single season at The Goldstone Ground before joining Norwich City in 1907, again spending only one season at Newmarket Road before joining Southend United in 1908. He returned to the East Midlands in 1909, joining non league Lincoln Liberal Club, before joining Sutton Junction in 1910. He moved to Mansfield Mechanics in 1912 and his final club was Mansfield Town who he joined in 1913.