Betdaq were one of the first companies to allow punters to set their own prices and trade their positions via a betting exchange. The Irish company have always had to live life in the shadow of bigger competitors but their high class service continues to evolve and improve for their ever growing number of customers. With a simple welcome bonus and more product development on the way, we point out why Betdaq are well worth adding to your betting tool kit below.
Dermot Desmond had high hopes when he founded Betdaq at the turn of the century. The Irish billionaire had a background in finance and wanted to offer individuals the chance to trade sports betting positions just like on the stock exchange.
He poured a huge amount of his money and expertise into Betdaq, the trading name of the original company, Global Betting Exchange. Whilst there was no faulting Desmond's vision, life is often about timing and he was unlucky in that Betdaq's launch coincided with that of Betfair who went on to become the dominant player in the betting exchange arena.
Undeterred, Betdaq continued to push on. They worked tirelessly to increase the opportunity offered to punters on their site and the liquidity of their markets. That work paid off in terms of increasing customer numbers and also personally for Desmond who sold Betdaq to Ladbrokes for €30 million in 2013.
Ladbrokes used the intellectual property of Betdaq to help launch their own betting exchange but continue to operate Betdaq as a high class exchange in its own right. Indeed, the financial power of the Ladbrokes Coral Group has been of great benefit to Betdaq and their users most notably with the addition of a sportsbook in more recent times.
Betting exchanges can be complicated places for those new to the idea so Betdaq have wisely decided to try and keep things simple when it comes to their welcome bonus for new customers. When you open up a new account with Betdaq and enter the promo code BDQ10 you'll be able to take part in their Bet 10, Get 10 promotion.
All you have to do is place a first bet of £/€/$10 on the exchange at odds of 2.0 (even money in traditional terms) or higher and Betdaq will credit your account with the same amount as a free bet. It's an offer that doesn't take much explaining and allows new customers to get to grips with the feel of the Betdaq site.
As well as a number of regularly updated betting offers and promotions for the sportsbook, Betdaq are also pushing their casino product heavily at the moment. That's great news for those who enjoy gaming especially as Betdaq have a welcome bonus worth £30 on their casino.
Betdaq's product offering has changed a great deal over the years but the look and feel of their site has remained largely unchanged. Long term customers who put a lot of money though the exchange love the logical way that sports, leagues, events and markets are laid out as it allows them to quickly get to where they need to be but it can be a little bewildering on first viewing for those who are new to Betdaq.
Once you have a quick play around with the Betdaq site it becomes much more manageable. Current in-play markets are displayed with the latest prices on the homepage whilst the long list of sports in the left hand panel speeds up navigation. There's even a search bar for those who are unsure where a particular market is housed.
Betdaq's branding is another thing which has remained largely consistent. They are still very much associated with their trademark purple colour which is found throughout a site that's based on a white background. The use of purple and white with some bold font allows promotions to stand out. The use of colour is also important for individual markets with back prices shaded a light orange and lay prices light green.
If you were only to use Betdaq for the biggest sports such as football, tennis and horse racing you would likely encounter no problems getting a bet on at a fair price. As the user base increases so does the liquidity available across the Betdaq exchange but they do still struggle at times to populate the less popular markets.
When Betdaq get it right (which is more often than not) they get it very right. They have a very low commission rate of just 2% across their entire exchange and are proud that they offer the best odds on horse racing close to 98% of the time compared to the industry starting price.
The market choice has improved significantly since Ladbrokes acquired Betdaq and as you'd expect it's improved further still with the introduction of the sportsbook.
Betdaq offer live streaming for select racing and sports events via their Bet & Watch feature. It requires users to have a qualifying bet on the event before it is available to watch but the quality of the streams more than makes up for the small stakes demanded.
Betdaq are all about making it as easy as possible for their users to trade their positions. That approach extends to their mobile betting platforms which are quick and reliable whether you use their apps available on the Apple and Google app stores or a mobile browser. As well as being able to quickly place a back or lay bet on the exchange and use the full list of markets on the sportsbook, you can even live stream events on mobile devices.
Betdaq were offering their users the chance to cash out long before the big high street bookmakers started adding it to their sportsbooks. Trading positions is almost the entire premise of Betdaq so it's no surprise they allow you to see your positions in one place or that a fully feature laden cash out feature is available on the Betdaq Sportsbook.
The UK Gambling Commission ensure that every bookmaker has to pass a stringent set of tests before being awarded a license to operate. Betdaq have had to jump through more hoops than most over the years as the ability to offer individuals the chance to lay bets was challenged by many of the most established bookmakers.
Whilst the attitude towards exchange betting has changed over the years, the number of challenges that face Betdaq to ensure they provide a fair service to users has only increased. Prospective customers should feel assured that Betdaq is fully licensed and regulated and that they employ up to date security protocols to keep customer information and money safe.
With such a high number of users, Betdaq understand that questions and problems will arise from time to time. That's why they have a dedicated customer service team who can be contacted via live chat seven days a week, by phone and email.