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 platform. However, low liquidity will sometimes let you down on less popular markets.
- Great commission rate
- Solid number of markets
- Reliable platform
- Liquidity can be low
One-minute Betdaq review
Founded back in 2000, Betdaq has been around for a while. Since then, they’ve become one of the most popular betting exchanges around.
Despite facing fierce competition from Betfair, Betdaq has managed to remain relevant in an incredibly competitive market.
What sets Betdaq apart is the brilliant commission rate of just 2%. They also run 0% commission promotions from time to time.
In short this means more profit from winning bets when compared to Betfair.
Betdaq is built on some of the most reliable and trustworthy technology in the industry. This means their platform will stand up to almost anything no matter what volume of betting there is. So even on the busiest days at Cheltenham, you’re unlikely to have any issues placing your bets.
Whilst Betdaq can’t match Betfair in terms of the sheer number of markets and categories, there are still thousands of markets to place your bets on. Unless you’re looking for a very specific market, you should have no problem at Betdaq.
The majority of markets on Betdaq offer decent liquidity. However, you need to keep an eye out for less popular markets as the volume can sometimes be quite low.
Overall Betdaq is a certainly a great account to have.
Betdaq exchange review
Betdaq offers a range of platforms including a sportsbook and casino, but we’ll mainly focus on the betting exchange in this review.
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!
So 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.
Let’s dive in!
Betting exchanges explained
For those of you that aren’t sure what a betting exchange is, here’s a brief introduction.
A betting exchange is an online marketplace which matches bettors looking to place opposite bets.
These platforms allow players to bet against each other rather than a bookmaker. An exchange simply provides the technology to facilitate these bets.
Along with other benefits, betting exchanges allow for much greater flexibility than traditional sportsbooks which makes them a popular choice throughout the UK and further afield.
The main difference is that an exchange allows lay betting. This means a bettor can back a selection to lose rather than win.
Betting exchanges have had a major impact on the market in the last 20 years and have allowed for a wide range of new betting strategies some of which you can use to make a guaranteed profit from.
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.
In 2013, Betdaq was acquired by Ladbrokes for €30 million. Ladbrokes later joined forces with Coral and they now form the UK’s largest betting company. Betdaq continues to challenge Betfair for a greater market share in the industry.
Right, enough background information… Let’s get into the Betdaq review!
Before we get started it’s important to note that Betdaq only accept customers from the following countries:
- United Kingdom
Betdaq exchange – Key aspects
There’s many aspects that make a great betting exchange. Below is a list of the criteria we’re going to look at in this review and how Betdaq fares in each category.
- Markets and odds (7/10)
- Commission (9/10)
- Reliability (9/10)
- Liquidity (6/10)
- Technology (8/10)
- Customer support (8/10)
- Promotions (7/10)
- Deposits and withdrawals (8/10)
- In-play betting (6/10)
1. Betdaq markets and odds (7/10)
The first aspect we’ll look at in our Betdaq review are the markets and odds available. Do they offer markets on a wide range of events and what are the odds like?
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 there are, 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. Unless you’re looking for a very specific and unique market you won’t have a problem finding what you’re after at Betdaq.
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. If you’re after a less popular market I recommend you head straight over to Betfair.
Odds are arguably the second most important aspect of a great betting exchange after categories and markets.
Here we’re looking for good value odds when compared to other exchanges and bookmakers. Betting exchanges should typically offer better value odds compared to traditional sportsbooks.
In my experience odds at Betdaq exchange can occasionally be a slightly lower than their competitors. The price is directly related to the popularity of an event and how many people are placing bets.
Betdaq only has a 7% market share meaning there are fewer bettors placing bets on the platform. This 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 yellow 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 markets you won’t have an issue with low value odds.
2. Betdaq commission (9/10)
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 betting exchange. Picking an exchange that charges a competitive commission rate is a must especially for betting strategies such as matched betting.
At the time of writing this review the Betdaq commission rate is a flat 2% on all sports.
For comparison Betfair charge a basic rate of 5%, though they do offer complicated discounts for certain members. Smarkets also charge 2% commission.
Betdaq run commission rate promotions from time to time which are certainly worth keeping an eye out for.
Over a year’s worth of bets, an experienced bettor would save £100s by using Betdaq over Betfair.
3. Betdaq reliability (9/10)
Reliability is a key aspect that makes for a great betting exchange. Bettors want to use trustworthy, reliable platforms that have a great reputation.
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. Their platform is trusted by some of the leading betting companies. If it’s good enough for them, it’s good enough for us!
Betdaq invests a huge amount of money into their platform each year meaning they’re always at the forefront of betting technology.
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.
Having used various betting exchanges and placed thousands of bets online, I’ve never had a problem with the Betdaq exchange and the reliability of their platform.
This is certainly one of Betdaq’s top selling points.
4. Betdaq liquidity (6/10)
Liquidity is a key aspect of a great betting exchange and has a knock-on effect on the odds and popularity of a 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.
A betting exchange works by providing a platform for its customers to match bets against each other. There needs to be two parties for a bet to take place. Someone looking to back an outcome and someone looking to lay an outcome (backing a selection to lose).
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 it is for the shop.
Liquidity is shown underneath the market price. So in the example below there is £2,347 waiting to be matched.
Liquidity is directly related to the popularity of a market. However, with less customers you will always struggle to keep the liquidity of a marketplace high.
This is one of the aspects that Betdaq have never been able to match their main rival Betfair.
Despite lower liquidity on certain markets at Betdaq, you generally won’t have a problem placing your bets unless you’re after a specific market or wagering large amounts.
If high liquidity is what you’re after I recommend you head over to Betfair.
5. Betdaq exchange technology (8/10)
Technology plays a huge part in the quality of a betting exchange and as we touched on earlier in the review, Betdaq is the largest provider of betting 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.
6. Betdaq customer support (8/10)
In the modern world of online betting, quality customer support is a 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, bettors want problems with their bets to be resolved quickly. 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
In terms of responsible gambling, Betdaq also allows users to exclude themselves from the entire platform. This means Betdaq will no longer send any marketing material and they will take all reasonable measures to prevent users using the platform.
I really can’t fault Betdaq’s support network.
7. Betdaq free bet and promotions (7/10)
Free bets and offers play a huge part in online gambling and savvy 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 welcome bonuses for new Betdaq 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. This is a great bonus in order to keep your costs down and maximise your profit.
As with other betting exchanges, Betdaq’s ongoing promotions for existing customers are somewhat limited.
8. Deposits and withdrawals at Betdaq (8/10)
Another key aspect of a great betting exchange is how easy payment transfers are. This applies to both deposits and withdrawals.
Bettors expect quick and reliable transfers they can trust whether that’s using an eWallet 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 24 hours and other methods may take up to 5 working days. 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 into providing a secure website and banking system.
9. In-play betting (6/10)
In-play betting and streaming has had a major impact on the way bettors watch and place their sports bets in the last few years. It makes for a much more exciting betting experience.
Here we’re looking for in-play match trackers, free live streams along with HD streaming on various sporting events.
In-play betting with Betdaq is incredibly easy with various live fixtures and match stats available to view so you can keep an eye on live games.
However, they only offer a live streaming service for horse racing events which is rather annoying for those of us looking to place in-play bets on other sports.
Hopefully, there’s an update around the corner.
Using Betdaq review
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 betting exchange.
Overall, we’re looking for a great user experience.
Placing your bets at Betdaq is incredibly easy and very similar to most other online bookies and exchanges.
- Simply find the market you’re after by searching for the event or navigating through the desired links.
- Select the odds and enter the desired stake.
- Place your bet.
You can also enter your own odds. 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.
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.
At long last Betdaq has given their UI a well overdue facelift and brought the website out of the 1990s…
The new design gives off a more modern feel which still delivers on functionality over aesthetics. The website is fairly easy to use, with popular links and main sports listed down the left-hand side.
The back markets are distinguished by yellow and the lay markets by green. This colour scheme is still not bold enough for my liking but anything is better than what it was!
Mobile site / app
The Betdaq mobile site and mobile application are both very similar in their design and functionality so we’ll just focus on the app 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 an option. Overall a very functional and useful mobile app from Betdaq.
Betdaq review – Sportsbook
As with other betting exchanges, Betdaq launched its own sportsbook platform in 2019.
The sportsbook shares a wallet with the exchange and casino meaning you can easily change between platforms.
Here are some of the benefits of the Betdaq sportsbook:
- In-play betting
- Full and partial cash out
- Live streaming
Betdaq also offer best odds guaranteed on all UK and Irish horse racing.
Overall the sportsbook shares very similar features and functions to the exchange and is a great addition to the platform.
Betdaq casino review
Whilst Betdaq is mainly known for its exchange platform, they also offer a great casino service which boasts a shared wallet and nearly 200 casino games with more being developed all the time.
You can play popular table games like blackjack and roulette as well as virtual games and slots.
Betdaq casino also offers a great range of generous promotions each month.
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
Whilst Betdaq is nowhere near as popular as Betfair and they sometimes struggle with liquidity, they still offer a solid platform used by thousands of punters across the globe.
Overall, I certainly recommend you sign up with Betdaq if you haven’t already even if you just use it as a backup to Betfair.
You can go ahead and use the link below to get started and access your free bet right now.BETDAQ FREE BET