Betdaq are an Irish betting exchange offering customers the option to set their own prices to back and lay against one another. As well as offering this extra level of control when compared to the traditional bookmakers, Betdaq have a host of promotions including their welcome bonus which we have detailed below in our Betdaq review.
When Dermot Desmond founded Betdaq in 2000 his goal was to offer a betting exchange to punters so that they could bet against each other sort of live the stock exchange.
In the earlier days of Betdaq's life it struggled to compete against Betfair who have long been the biggest betting exchange. Betdaq continue to be defined by their competition in many people's eyes but they have come a long way and put in a huge amount of work to provide their own world class service.
Betdaq's fortunes took a turn for the better when they were acquired by Ladbrokes for €30 million in 2013. Ladbrokes' financial might and expertise has solidified Betdaq's position as the second largest betting exchange in the face of yet more competition and having signed some more big sponsorship deals in the summer of 2018, hopes are high for continued growth and success.
The problem that Betdaq have faced throughout their history is a lack of liquidity compared to Betfair. Their customer base is big enough to ensure that competitive odds are offered on the biggest sporting events but the options get a little more limited the less prestige and event has.
In an attempt to get as many customers putting as much liquidity through the markets as possible, Betdaq have put together a welcome bonus which gives all new customers their first month's commission back up to a maximum of £1,000. To use this offer simply navigate to Betdaq via one of the links on our site and enter promo code DAQBACK when prompted.
It's trickier for Betdaq to offer long running promotions than a traditional bookies but they do a good job of rewarding their loyal customers. For example, they pay a 20% bonus in the form of a free bet on all winnings from bets on horse races shown live on ITV Racing. They also make the most of their multiples product by offering a £10 free multiples bet for all punters who bet £100 from Monday to Thursday.
Finally, Betdaq have introduced a casino. The games on the casino are pretty much as good as anything you'll find online and when you play with your first £10 Betdaq will give you £30 bonus cash to play with.
The nature of a betting exchange means that Betdaq have to present their customers with more information than a traditional bookie. If you've never seen an exchange before you may think that the Betdaq site is a little cluttered but it doesn't take long for you to quickly get a feel of things.
The homepage offers quick links to the various products available on the Betdaq site (exchange, multiples, casino, virtuals, sports pools, promotions) and some helpful trading advice. The most popular links are down the left hand side just above a list of the sports available to bet on. The right hand side of the site includes the betslip and details of the latest promotions while the middle contains the latest in-play markets so you can quickly get in and out of a position.
Betdaq's trademark purple colour works well on the site's white background while the colour difference between back and lay prices is nice and clear. It's fair to say that it's not the most appealing betting site around but does a good job thanks to its intuitive setup.
As touched upon above, Betdaq's main challenge remains attracting enough customers and money to keep liquidity high and odds competitive. The odds offered through the Betdaq exchange on the biggest events compare well to Betfair and the biggest bookies. That value is all the better given that Betdaq are now only charging 2% commission on winning bets compared to a general 5% at Betfair.
It's when you fancy a bet on a smaller event such as a low grade football match or horse race that Betdaq get into problems. You have to be patient to get the price you want and sometimes there just isn't the interest from the layers' side.
Despite the slight unpredictability of getting a price with Betdaq, they do offer markets on a whole host of sports, leagues and competitions. It's also possible to utilise the fixed odds multiples that Betdaq offer to increase your options.
Betdaq offer live streaming of selected sports and horse racing on their desktop and mobile sites. You must have a small qualifying bet to enjoy the action as it unfolds.
As well as regularly getting better value than at a bookmaker, the main advantage of a betting exchange is the ability to trade in and out of positions. Betdaq know that their customers don't want to be chained to their computers to trade effectively so they have worked hard on their desktop site and apps which work very well on both iOS and Android platforms.
The betting exchanges were offering customers the chance to cash out of their bets long before it was known as cash out. You can see your current bets and how they are shaping up with just one click from the Betdaq homepage which means it's possible to quickly make a decision about whether to trade out of a bet or let it run.
When betting exchanges started popping up around the turn of the century, the traditional bookmakers complained they were in effect allowing punters to act as bookies without having to go through any licensing regulations. Those complaints were dismissed by the authorities and customers should rest assured that Betdaq are fully licensed and regulated in the United Kingdom by the Gambling Commission.
They hold other licenses to operate globally from their head offices in Dublin and all that regulatory red tape ensures that they treat their customers fairly. If, however, problems arise, Betdaq have a sturdy complaints procedure which begins by contacting their customer service department via phone, email or live chat.