By Charles Hopewell | Updated May 20, 2020
OUR VERDICT4 out of 5
Betdaq is one of the most popular betting exchanges in the world. Offering a great commission rate, a solid number of markets and a reliable trading platform, Betdaq exchange is certainly a great option to place your bets with in 2020.
Great commission rate
A solid number of markets
Reliable trading platform
Liquidity can be low
Lower value odds
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One-minute Betdaq review
Since 2000, Betdaq has been one of the most popular betting exchanges around. Despite being much smaller than Betfair, Betdaq has remained relevant.
What sets Betdaq apart is their brilliant commission rate. The Betdaq commission is now 0% on everything except football, horse racing, greyhounds, cricket and virtual sports where the rate is a low 2%. Punters love placing back and lay bets at Betdaq exchange as they get to keep more profit from winnings bets when compared to Betfair.
Betdaq provides some of the most reliable and trustworthy technology in the industry meaning their platform is very solid no matter what volume of betting there is. Even on the busiest Cheltenham days, you’re unlikely to have any issues placing bets at Betdaq.
Whilst Betdaq can’t match Betfair in terms of the number of markets and categories, there are still plenty of options to place your bets. Unless you’re looking for something unique, you should find it at Betdaq.
Occasionally the betting volume can be quite low at Betdaq exchange. This means the odds can also be of lower value. However, on the whole, you should have no problem in this regard.
Whilst Betdaq offers a range of platforms including a sportsbook and casino, we’ll mainly focus on the betting exchange in this review.
In-depth Betdaq review
Betdaq review – As I mentioned above, Betdaq is one of the most popular betting exchanges in the industry but should you use their platform in 2020?
In this Betdaq review, we’ll cover the pros and cons of using the platform, the Betdaq commission rate and ultimately whether you should sign up for an account, along with much more…
Ready? Let’s get started!
We’ve created this in-depth Betdaq review for those of you who are toying with the idea of opening a new betting exchange account in 2020.
If you’re stuck choosing between the most popular betting exchanges, this review, along with our other betting exchange reviews will help you make up your mind.
We’ve gathered our knowledge, listened to the community and considered all the key aspects that make for a great betting exchange and piled it all into this Betdaq review!
I’d love to hear your thoughts of Betdaq, so please leave a comment below.
Betting exchanges explained
Some of you reading this Betdaq review might be new to the term betting exchange so here’s a short introduction.
A betting exchange is an online marketplace which matches gamblers looking to place opposite bets.
These platforms essentially cut out the middle man, otherwise known as the bookmaker.
Along with other benefits, betting exchanges allow for much greater flexibility than traditional bookmakers which makes them a popular choice throughout the UK and further afield.
A betting exchange makes money slightly differently compared to a bookmaker in that they charge a commission on player’s net winnings. In comparison, a bookmaker builds its profit margin into the odds.
Betting exchanges have had a major impact on the market and they are the single biggest invention to occur in the betting industry in the last 20 years.
Thanks to betting exchanges, it’s also possible to make a guaranteed profit from bookmakers free bets and promotions using matched betting.
Whether you take part in matched betting or not, picking the betting exchange which best suits your needs is vital to success in 2020.
Betdaq exchange is an online marketplace where punters can either back or lay an outcome (more on this later).
Here’s what you’ll find when you visit Betdaq:
The second-largest betting exchange with around 7% market share in the UK, Betdaq was founded in 2000 by Dermot Desmond, a wealthy Irish businessman.
Launching just a year later than Betfair and Flutter (another rival at the time), Betdaq found it hard to compete with their older brother, Betfair.
Due to their superior financial support, Betdaq launched its platform charging 0% commission. This figure would rise 1% a month until it reached 5%. On paper a brilliant idea. However, it didn’t turn out so successful and it was nowhere near as powerful as Betfair’s brilliant marketing.
Despite the somewhat failed launch, Betdaq continued to aim their platform at high-rolling gamblers who would wager £1000s on each bet. Their founder already had contact with several wealthy gamblers so it made sense.
The plan was to work their way up to 25% market share. So far they’ve managed to win just 7%.
In 2013, Betdaq was acquired by Ladbrokes for €30 million. Ladbrokes later joined forces with Coral and they now form the UK’s largest bookmaker/betting exchange. Betdaq continues to challenge Betfair for a greater market share in the industry.
Right, enough background information… Let’s get into the Betdaq review!
Many different aspects make for a great betting exchange. Below is a list of all the criteria we’re going to look at in this Betdaq review.
In this section, we’ll go through each category and rate Betdaq out of 10.
6. Customer support
10. Live streaming
The first category we’ll look at in our Betdaq review is the number and depth of markets available. Do they offer markets on most sports and other events?
Markets are one of the most important considerations when picking a betting exchange. They are the heart and soul of any betting company. Everything is built around them.
We’re looking for a large range of markets that covers the most popular events thoroughly. The more markets that are available, the more choice you have to place your bets, ultimately making for a better and potentially more profitable betting experience.
Due to its age, Betdaq does not disappoint in this regard and you’re unlikely to have a problem finding the market you’re after at Betdaq unless it’s quite specific.
Having said that, they’re not quite on par with the market leaders Betfair.
Betdaq’s markets include:
- Horse Racing
- Greyhound Racing
- Ruby Union
- Rugby League
- Ice Hockey
- American Football
- Mixed Martial Arts
- Formula 1
- Virtual Sports
When compared to Betfair, Betdaq is missing a few market categories such as Athletics and Cycling to name a few.
Markets – Rating 7/10
Odds at Betdaq
Next up in our Betdaq exchange review, we’re going to look at odds. After markets, odds are arguably the second most important aspect of a great betting exchange.
In this category, we’re looking for good value odds when compared to other exchanges and bookmakers. Furthermore, betting exchanges should offer better value odds than most bookmakers.
Due to brilliant technology, odds at different betting exchanges are generally quite similar these days.
However, in my experience, odds at the Betdaq exchange can occasionally be a little lower than their competitors. The price is directly related to the popularity of an event and therefore how many people are placing bets.
As I mentioned earlier, Betdaq only has a 7% market share meaning they are much smaller than the likes of Betfair. This lower number of users has a knock-on effect on market odds.
Another important consideration when looking at the odds a betting exchange offer are the back and lay prices. At Betdaq the back odds are in orange and the lay odds are shown in green.
Ideally, these two figures should be close together representing a solid amount of liquidity on each market (more on this later in the review).
At Betdaq these two figures can sometimes drift apart, rendering these markets less effective.
This is especially the case for matched betting, where bettors are looking for close matches between the back and lay odds.
Overall, Betdaq could do better in terms of odds but this comes with added popularity. For most situations, you won’t have any issues with odds at Betdaq.
Odds – Rating 6/10
The third category we’re going to look at in this review is the Betdaq commission rate. As I mentioned earlier in the review, betting exchanges charge a commission instead of building a profit margin into the odds.
In this category, we’re looking for a low, stable commission structure which is easy to understand and good value for the bettor.
Commission directly affects the amount of profit you make from your bets, so it’s an important aspect of a great betting exchange. Picking an exchange that charges a competitive commission rate is a must.
The Betdaq commission is now 0% on all sports apart from football, horse racing, greyhounds, cricket and virtual sports. The commission for these markets is just 2%.
This is a great structure that Betdaq have recently brought into effect, following the likes of Smarkets in the aim of winning more market share from Betfair.
In my view, the new Betdaq commission rate of 0% and 2% beats the likes of Betfair and other competitors.
Over a year’s worth of bets, an experienced bettor would save £100s by using Betdaq over other exchanges. Quite a considerable amount when you put it like that.
Commission also has a direct impact on the amount of profit a matched bettor makes so a low rate is essential with this betting strategy.
Commission – Rating 9/10
In this section of our Betdaq review, we’re going to look at the reliability of the platform.
Reliability is a key aspect that makes for a great betting exchange. Bettors want to use trustworthy, reliable platforms that have a great reputation.
If you’ve ever had any issues with placing bets at a betting exchange, I’m sure you’ll sympathise. Suddenly finding out one of your bets hasn’t placed is incredibly annoying and can potentially lead to costly losses.
In this situation, there’s not much you can do and the betting exchange is unlikely to reimburse you. To avoid this, you need to stick to trustworthy exchanges that have a solid reputation when it comes to reliability.
Betdaq is currently the largest betting exchange technology provider in the UK. Therefore their platform is trusted by some of the leading betting companies throughout the UK. If this isn’t good enough proof that Betdaq offers a trustworthy, reliable platform, I don’t know what is.
Betdaq invests a huge amount of money into their services each year meaning they’re always at the forefront of technology.
So when it comes to placing bets during high volume events like the Grand National, Betdaq holds up incredibly well. You’re unlikely to notice any difference.
Over the years of using many different betting exchanges and placing a lot of bets online, I’ve never had a problem with the Betdaq exchange and the reliability of their services. They offer a highly trusted and ultra-reliable platform.
This is certainly one of Betdaq’s strengths.
Reliability – Rating 9/10
Next up in our Betdaq review, we’ll consider the liquidity of the platform. This is a key criterion as it has a knock-on effect on the odds and other aspects of the platform.
Liquidity may be a new term for some of you so here’s a quick explanation.
Liquidity is the amount of money waiting to be matched on a certain market.
As I mentioned above, betting exchanges work by matching punters with opposing views. There need to be two parties for a bet to take place. Someone looking to back an outcome and someone looking to bet against that same outcome.
That’s what we refer to when describing liquidity – essentially the number of people in the queue to place a bet. If there’s no one waiting, then you won’t be able to place a bet.
The higher the liquidity, the easier it is to place your bets. The best analogy is to imagine people in a queue at a shop. The more people there are, the better (for the shop).
Liquidity is shown underneath the market price. So in the example below there is £2,347 waiting to be matched.
This is one of the areas Betdaq have never been able to match their bigger brother, Betfair.
Liquidity is directly related to the popularity of the exchange and specifically the market in question. With fewer customers, you will always struggle to keep the liquidity of a marketplace high.
Despite the lower liquidity at Betdaq, you won’t have a problem placing your bets on popular events like top tier football for example.
However, if high liquidity is what you’re after you should head straight to Betfair.
Liquidity – Rating 6/10
The next criteria we’ll consider in our Betdaq review is technology.
Technology plays a huge part in the quality of a betting exchange and as we’ve already touched on earlier in the review, Betdaq is the largest provider of betting exchange technology. Their tech is obviously at the forefront of the industry and used by many popular companies.
Betdaq offers a very reliable platform that you can rely on 24/7. What’s more, they employ the required staff to ensure that any issues with their platform are resolved promptly.
All in all, a strong aspect of the Betdaq exchange.
Technology – Rating 8/10
Next up in our Betdaq review, we’ll look at customer support.
In the modern world of online gambling, quality customer support is an absolute necessity. Therefore, it’s another important consideration when choosing the best betting exchange.
We’re looking for easily accessible support methods, quick response times and quality help.
In an ideal world, punters want any problems with their bets to be resolved as quickly as possible. Any unmatched bets at an exchange could lead to costly mistakes which may cut into your overall betting profit.
Having been in the industry for many years, Betdaq knows how and what their customers need help with. They have a dedicated support team and an abundance of articles to help customers. Their staff are helpful and knowledgeable meaning your issues are fixed promptly.
You can get in touch with Betdaq using the following methods:
- Live chat during selected hours
- Submit questions
- Call the team
From experience, I really can’t fault Betdaq’s support network.
Support – Rating 8/10
In this section of our review, we’ll look at free bets, bonuses and other promotions that Betdaq offers customers.
Free bets and offers play a huge part in the modern world of online gambling and bettors are always on the lookout for generous offers.
Customers come to expect free bets and promotions regularly. Therefore, this is an important consideration when it comes to picking a betting exchange.
There are various Betdaq free bets for new customers. You can either take advantage of their Bet £10, Get £10 or get up to £1000 cash-back in commission.
Whilst this offer sounds much better than it is, Betdaq is essentially giving you a 0% commission rate for the first month.
As I mentioned earlier, maximising your profit from betting involves keeping costs down to a minimum. This includes the amount of commission you pay on exchange winnings. That’s what makes this Betdaq offer so enticing.
As most betting companies do, Betdaq also offers ongoing promotions known as reload offers. These are offers for existing customers and they allow matched bettors and other gamblers to make an ongoing profit.
Matched bettors are specifically after free bets and other promotions and the 0% commission offered by Betdaq is an awesome offer.
Whilst not on the level of some of the larger bookmakers, Betdaq still offer some great promotions.
Promotions – Rating 7/10
Another key aspect of a great betting exchange is how easy payment transfers are. This applies to both deposits and withdrawals.
Bettors have come to expect quick and reliable transfers they can trust whether that’s using an eWallet solution like PayPal or simple debit card transfers.
With Betdaq, you’ll be able to use the most common payment methods to place your deposits.
Deposit methods at Betdaq:
- Debit card transfers
- Bank transfers
Debit cards and eWallet deposits such as PayPal have zero fees.
Overall, deposits are very easy at Betdaq.
In terms of Betdaq withdrawals, you can use the same methods you use to deposit your funds, apart from cheques.
Withdrawing to debit cards typically takes 25 hours and other methods may take up to 5 working days. However, in my experience, it’s never taken that long.
As you would expect from an online betting company, Betdaq takes their payment security very seriously. They invest a lot of money providing a secure website and banking system.
Payments – Rating 8/10
Now we’ve covered all the essential parts of a betting exchange, let’s look at the added features that make for an overall better experience.
Betdaq is one of the few betting exchanges that provide a live streaming service. This is a relatively new phenomenon in the betting industry which makes for a more interesting betting experience.
Watching a live stream also benefits any matched bettors out there. It makes you seem more like regular punters which is crucial to long term matched betting success. It’s also quite fun watching a horse race you just bet on knowing you’ll make a guaranteed profit no matter what the result is.
At Betdaq, you can watch live feeds without placing a bet on the event which is a nice feature that other exchanges and bookmakers don’t offer.
Live streaming – Rating 8/10
The criteria we looked at above would be pointless if the Betdaq exchange wasn’t easy to use. In the next section of our Betdaq review, we’ll look at what it’s like to use the Betdaq betting exchange regularly.
Overall, we’re looking for a great user experience.
Placing your bets at Betdaq is similar to most other online bookies and exchanges. Simply find the market you’re after, either by searching for the event or navigating through the desired links.
Select the odds and enter the desired stake.
If you want to enter your own odds you can also do that. However, you’ll need to wait for someone to match your selection. I recommend you don’t use this method as it can lead to unmatched or partially unmatched bets.
When you’re placing matched bets, make sure you check the liability stated in the betting exchange is the same as the matched betting calculator worked out.
For further matched betting help, check out OddsMonkey.
Another important consideration when using a betting exchange is how well the website functions. In the online world, a simple and intuitive website is a must for betting companies.
More similar to Betfair than Smarkets, Betdaq has an original looking website which delivers on functionality over aesthetics. The website is fairly easy to use, with popular links and main sports positioned down the left-hand side.
The back markets are distinguished by light orange and the lay markets by light green. These colours are arguably not as strong as the green and blue that Smarkets use but still recognisable nonetheless.
This is probably a subjective opinion but I think the Betdaq site is overly complicated and could do with fewer links and banners on the right-hand side. Although that’s me being quite picky.
Mobile Site / App
The Betdaq mobile site and mobile application are both very similar in their design and function. So we’ll just focus on the application in this section.
The mobile app is very easy to use with all the main options and sports on a slider at the top of the app. The different colours for the back and lay markets stand out more on the mobile app compared to the website.
Placing bets on the Betdaq mobile app is easy which makes betting on the move more efficient. Overall a very functional and useful mobile app from Betdaq.
That’s it for our Betdaq review, so let’s summarise.
Here are the benefits of using Betdaq:
- Ultra-reliable and widely used software
- A solid range of sporting and other markets
- Awesome live streaming
Whilst Betdaq is nowhere near as popular as Betfair and they sometimes struggle with liquidity, they still offer a brilliant platform used by thousands of punters across the globe.
Overall, I certainly recommend you sign up with Betdaq if you haven’t already. You can go ahead and use the link below to get started and access your free bet right now.