Betdaq Betting Exchange

Betdaq is an online marketplace where punters can choose to either back an outcome or back against an outcome. This platform is called a betting exchange and is one of the main ingredients used in matched betting.

Betdaq is the second largest betting exchange with around 7% market share. They were founded in 2000 by Dermot Desmond, a wealthy Irish businessman. The headquarters of the company are still today operating from Dublin.

Launching just a year later than Betfair and Flutter, another rival at the time, Betdaq were expected to catch up due to their superior financial support.

This allowed Betdaq to launch it’s platform charging 0% commission, rising 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 campaign.

Despite the somewhat failed launch, Betdaq aimed their platform at high-rolling gamblers who would wager £1000s on each bet. The reason behind this was that Desmond already had contact with a number of wealthy gamblers.

The plan was to work their way up to 25% market share. Unfortunately they never got close to that figure. They currently have about 7% 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 bookmaker. It will be interesting to see what they do with Betdaq and if they decide to challenge Betfair for a greater market share in the exchange industry.

Make money with Betdaq

Betting Exchanges Explained

Betting exchanges are built around a simple concept of allowing two gamblers to place opposite bets. They basically cut out the middle man which is the bookmaker. This means they take on no risk like traditional bookies do. Along with other benefits this makes them such a popular betting choice across the UK.

Betting exchanges have had a major impact within the market. They are the single biggest invention to occur in the betting industry in the last 20 years.

They also make matched betting a possibility as they provide gamblers the option to back an outcome or back against an outcome, also know as lay betting. Betting exchanges allow for much greater flexibility than a traditional bookmaker which is part of the reason they are so popular.

If you are currently matched betting or thinking about starting, finding the best betting exchange is one of the most important aspects to maximising your profit.

Key Aspects of the Betdaq Exchange

As we mentioned above, picking the betting exchange which best suits your needs is vitally important to matched betting success. There are many different aspects which make a great betting exchange which we’ll look at below.

Markets

One of the most important considerations when picking a betting exchange is the markets available. Markets are the heart and soul of a betting exchange. Everything is built around them.

Due to it’s age, Betdaq does not disappoint in this regard. It’s certainly on par with the market leaders, Betfair and you’ll never have a problem finding the market you’re after at Betdaq.

This is also great news for matched betting. The more markets that are available, the more choice we have to place our bets. Ultimately, this allows us to maximise our profit.

Reliability

Reliability is another key aspect to a great betting exchange and is key to matched betting success.

Suddenly finding out one of our bets hasn’t placed can lead to unnecessary, costly mistakes. This can be avoided by using a reliable exchange.

Despite Betdaq always being on the back foot in the betting exchange marketplace, they’ve still managed to make money each year and invest in their services. Betdaq are currently the largest betting exchange technology provider in the UK. Therefore their platform is trusted by some of the leading companies.

During my time matched betting, I’ve placed quite a few bets at Betdaq. As you’d expect, I’ve never had a problem with the reliability of their services. This is certainly one of Betdaq’s strengths.

Odds

Odds at Betdaq can occasionally be a little lower than other betting exchanges. The price is directly related to the popularity of an event. As we mentioned earlier, despite Betdaq being the second biggest betting exchange, they still struggle with the number of users and popularity of their platform.

Another important consideration for matched betting is that the back and lay prices for the same market should ideally be close together. At Betdaq these two figures can sometimes drift apart, rendering these markets less effective for our matched betting.

Commission

Betdaq started out by charging 0% commission to entice new customers and build some hype around the new company. This rate rose 1% every month until it reached 5%, where it stopped. Whilst this is the same as Betfair, there are companies out there that offer more competitive rates. Smarkets offer customers a flat rate of 2%.

Matched betting involves placing a lot of bets, each of which we’ll be charged a commission. It’s therefore important to pick an exchange with competitive rate.

Over a years worth of bets, an experienced matched bettor would save £100s by using Smarkets over Betfair or Betdaq. Quite a considerable amount when you put it like that.

Liquidity

Liquidity is the amount of money waiting to be matched for a certain market. Betting exchanges work by matching people with opposing views. 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 our matched bets. The best analogy is to imagine people in a queue at a shop. The more people there are, the better (for the shop).

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 site 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 matched 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.

Technology

As we’ve already touched on in this article, Betdaq are the largest provider of betting exchange technology. Their tech is obviously at the forefront of the industry and used by many popular companies. Another strong aspect of the Betdaq platform.

Customer Support

This is another important consideration when choosing the best betting exchange. Customer support is crucial for matched betting success. In an ideal world, we want any problems with our bets to be solved as quickly as possible. Any unmatched bets could lead to costly mistakes which cut into our overall profit.

Having been in the industry for a number of years, Betdaq know how and what their customers need help with. They have a dedicated support team and an abundance of articles to help customers. From experience I really can’t fault Betdaq’s support network.

Promotions

Betdaq currently offer a great promotion for new customers. They offer a months worth of 0% commission which is brilliant for our matched betting. As we’ve already discussed, maximising your profit from no risk matched 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 sign up offer so enticing.

As most betting companies do, Betdaq also offer ongoing promotions known as reload offers. These are offers for existing customers and they allow matched bettors to make an ongoing profit. We add all these offers to our members only area on a daily basis.

Sign up at The Sure Bettor and never miss an opportunity to profit online.

Banking

Deposits

With Betdaq, you’ll be able to use all the most common payment methods. They accept debit and credit card payments, Skrill, MoneyBookers, NETeller, Paypal and cheques.

There is a 1.5% charge on all deposits made via credit cards and a 2% charge on deposits made via PayPal.

Withdrawals

You can use the same method you used to deposit your funds for withdrawals, apart from cheques.

Withdrawing to debit and credit cards typically take 25 hours and other methods may take up to 5 working days.

It’s also important to add that Betdaq take security very seriously. They spend £1000s on providing a secure website and banking system.

Live Streaming

Betdaq are 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 our matched betting. It makes us 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 the live feeds without placing a bet on the event which is a nice feature that other exchanges don’t provide.

Using Betdaq

One of the key parts of matched betting is finding and using great sites to place our matched bets. In the next section we’ll look at what it’s like to use the Betdaq betting exchange.

Placing Bets

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 do that, however you’ll need to wait for someone to match your selection. We recommend you don’t use this method as it can lead to unmatched or partially unmatched bets.

When you’re placing your lay bets make sure you check the liability stated in the betting exchange is the same as the matched betting calculator worked out.

Website

Another important consideration when using a betting exchange is how well the website functions. In the digital world that we now live in, a good site is a must for betting companies.

More similar to Betfair than Smarkets, Betdaq have an original looking site which serves functionality over aesthetics. The site is fairly easy to use, with popular links and main sports positioned down the left hand side of the website.

The back markets are distinguished by a light orange colour and the lay markets by a light green. These colours are arguably not as strong as the green and blue that Smarkets use but still useful nonetheless.

This is probably a subjective opinion but I think the Betdaq site is overly complicated and could do with less links and banners on the right hand side.

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 matched betting on the move more efficient. Overall a very functional and useful mobile app from Betdaq.

Betdaq Overview

Betdaq provide very reliable and widely used software and technology which their exchange is built on. Though they may struggle with the number of users compared to Betfair, placing our lay bets at Betdaq is still a viable option.

Whilst Betdaq may not be our preferred betting exchange, they certainly offer a great platform for matched bettors and regular gamblers alike. They’re definitely worth registering with.

Check out this article for more information on how to make money online using matched betting.