Interferometric measurements with matter waves are established techniques for sensitive gravimetry, rotation sensing, and measurement of surface interactions, but compact interferometers will require techniques based on trapped geometries. In a step towards the realisation of matter wave interferometers in toroidal geometries, we produce a large, smooth ring trap for Bose?Einstein condensates using rapidly scanned time-averaged dipole potentials. The trap potential is smoothed by using the atom distribution as input to an optical intensity correction algorithm. Smooth rings with a diameter up to 300 ?m are demonstrated. We experimentally observe and simulate the dispersion of condensed atoms in the resulting potential, with good agreement s...