Betdaq Betting Exchange is Irish based. Its matched bets turnover amounted to €60billion last financial year and the volume is still growing fast. It was founded by Irish billionaire Dermot Desmond, whose other interests include London City Airport and Glasgow Celtic Football Club. It was launched in 2001. In January 2013 it was puchased by Ladbrokes. It has now established the role of the world’s second biggest betting exchange, albeit a fair way behind Betfair.
Commission: Betdaq charges a maximum commission of 3%. This is 40% less than the headline rate of main rival Betfair, that charges 5% (this does reduce slightly the higher your turnover). Commission is only paid on net winnings on each market. If your bets in a particular event amount to a net loss, you do not pay commission.
€/£20 FREE BET: Betdaq Betting Exchange offers a refund of your first bet if it loses. The bet must be for a fiver or more and the maximum refund is €/£20. They also offer an alternative to this and that is a refund of half the commission for the first three months. If you reckon you will use the betting exchange a lot in those initial months then this option might pay better. Remember they currently charge commission at a normal 3% on net profits you make on each event.
OPINION: Betdaq is the natural second-best option and alternative to Betfair. It is a thoroughly acceptable option and their software has improved markedly from its early days. The crucial thing required for the business model to work is volume and liquidity. That means you need lots of people on the site offering and taking bets. It struggles to match its main rival in this regard but things are getting better all the time. If you don’t understand the fundamentals of how to use a betting exchange and how to get the most out of one then read our betting exchanges explained guide.
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I worried a bit when it was bought by Ladbrokes, but they have embraced the concept and it is still really well run. You need a Betdaq account to compliment Betfair and ensure you get best odds on your selections across the two exchanges.
Betdaq has always struggled to keep pace with Betfair, but the service is better and the markets are good. Can get some better odds here than there if you are quick.