Betdaq are an Irish betting company who allow punters to bet against each other and therefore potentially get bigger odds thanks to their betting exchange. With ambitious plans for the future and a quality offering Betdaq are earning customers every day. Find out exactly why in out Betdaq review including details of their €10 free bet welcome bonus.
The number of different options available to punters these days is something that we all take for granted. The best online bookies are all falling over themselves to offer users the most control possible over their betting with the ability to cash out of their bets. It's easy to forget that sort of control was controversial when Betdaq launched by Dermot Desmond in 2000.
Desmond's hope when forming Betdaq was to create a betting platform that operated in much the same way as the stock market. He invested his own money, time and expertise in the hunt for that goal but his company always suffered unfair comparisons with Betfair.
Betdaq struggled for liquidity and customers in comparison to Betfair - the biggest online betting exchange. The team at Betdaq were not put off by the size of the challenge facing them and continued to fight for users by improving all aspects of their offering and innovating where possible. That hard work paid off in 2013 when Betdaq was acquired by Ladbrokes for €30 million.
Ladbrokes threw their own money and industry expertise behind Betdaq which still lags some way behind Betfair but is very much a creditable exchange in its own right with plenty of impressive elements.
Betdaq are making a big noise about the fact that they charge just 2% commission on all exchange bets. That low level of exchange is helping to attract users and the all important liquidity to Betdaq but that is far from the end of their efforts in that regard.
The number one way Betdaq are courting new users is with a free bet welcome bonus worth €10. To take part in this offer, the first step is visiting Betdaq by following one of the links on our site. You then need to enter the required information and make sure to enter promo code BDQ10 .
Following that place your first bet on the exchange of €10 with odds 2.0 (Evens) and Betdaq will reward that with a free €10 bet to use on their betting exchange.
Betdaq also offer a host of promotions to reward the loyalty of their long running customers. There's a 20% winning bonus paid on selected big horse races, free bets every weekend on their multiples product for punters who stake £100 between Monday to Thursday and €30 in free spins when new users to the Betdaq Casino stake €10.
Betdaq have been known as the Purple Site by punters for a while. That's due to the distinctive purple that you'll find on all aspects of Betdaq's branding. You'll find purple on across the Betdaq website from their main menu with links to the various sections of the site to various leagues contained on the homepage list of markets being traded in-play.
That purple is distinctive but it's also been used well by the Betdaq designers who have created a website that works as well as it looks. The main challenge, however, is how to display the vast amount of data that a betting exchange requires in a way that is not confusing for users.
Betdaq have had plenty of time to consider how to deal with this challenge and we think the current incarnation of their site does a very good job of providing the necessary information - available prices, market depth, event timings, etc - without being overwhelming. The ease of use is supported by well thought out navigation that includes well placed links, functional menus and clear graphics and images.
The presence of trading tools and expert advice on how to maximise a betting exchange is another plus.
The challenge for any exchange when compared to a traditional sportsbook is that odds available are dependent on the site's visitors. If users are not pricing up enough markets (ie, providing liquidity) there is only so much that Betdaq can do in terms of seeding markets with their own money.
There is no doubt that things have improved dramatically in this regard since Betdaq's early days and you won't notice any problem with the major sporting events. It's punters who like the more obscure options who may well find themselves frustrated with the lack of competitive odds.
With the caveat of a slight lack of liquidity, Betdaq does a very good job of providing a large number of sporting events, each with a very good selection of markets. The combination of the low commission rate of just 2% and the ease with which it is possible to manage positions makes Betdaq a truly world class betting exchange.
Betdaq customers have access to an impressive range of events streamed live via the Betdaq desktop and mobile sites. A small qualifying bet is required to access most streams.
The flexibility and opportunities presented by exchanges allow punters to lock in profit long before an event ends. The challenge is that it can be hard to spot the right moments to get in and out of positions. The Betdaq mobile apps of Android and iOS devices and the feature laden mobile site ensure that you can manage your positions as and when the situation changes anywhere you can find a signal.
Betting exchanges like Betdaq were subject to legal action in the early days as some of the big bookies complained that they allowed individuals to lay bets without passing the necessary regulatory checks. Those attempts to disrupt their operations were eventually dismissed out of court and the bookies are now trying to muscle into the territory of the exchanges by offering cash out features. The difference with Betdaq is that there is no in-built margin when getting out of a position which can result in bigger payouts.
Betting exchanges have slightly different hoops to jump through when it comes to licensing and regulation. Betdaq has always complied with these regulations and is subject to main checks and balances to ensure a level playing field is provided for all punters.
Betdaq's registered head offices are in Gibraltar so the website is therefore licenced and regulated by the Government of Gibraltar and the Gibraltar Gambling Commissioner respectively. Ladbrokes' own licence also covers certain aspects of the site and bets struck by certain customers.
If you have any further questions about the way that Betdaq is licenced or run into any problems during your time as a user it is easy to access their dedicated customer service team by phone or email.