BETDAQ is the second largest sports betting exchange in the world. BETDAQ is operated by Ladbrokes International plc. BETDAQ matches in excess of £75 million worth of bets around the world each week and they provide markets for a range of international sporting events at a starting rate of 5% commission.
Betdaq’s core product is its Betting Exchange, enabling customers to bet against each other by either backing or laying outcomes at prices they determine. As all betting exchanges, this business model eliminates the financial risk borne by bookmakers, so odds are often better than those offered by traditional bookmakers. Betdaq earns a commission on the net profits of any individual customer on each market, regardless of the outcome of the event.
Sports, markets and odds
Betdaq covers a large number of sports (and other events), including American Football, Athletics, Australian Rules, Bandy, Baseball, Basketball, Boxing, Chess, Cricket, Cycling, Darts, Football, Gaelic football and hurling, Golf, Greyhound Racing, Handball, Horse Racing, Ice Hockey, Poker, Rowing, Rugby, Snooker, Pool, Swimming, Tennis, Winter Sports.
The number of leagues covered is very important. Almost any sports competition will be available to bet. Regarding markets, there’s still some room for improvement. Main markets are of course available but in general bettors can find more markets on Betfair than on Betdaq. As an example, at the moment we were writing this review, F1 only had one market available (Drivers Championship Winner), while Betfair had more than 5 regarding the championship, and 8 more on next race (still not shown on Betdaq). The same happens on many sports.
As on any exchange, Betdaq sets the events and markets and customers set the odds they want to back or lay.
When you want to place a bet and you find the odds you want (meaning other users are willing to accept the opposite bet at the price you want), you click on the desired odds, set the stake and if there is enough liquidity your bet will be matched. If there is not enough liquidity (there is not enough money to cover your winnings from opposite bettors) part of your bet can be matched and part can be left unmatched (your whole stake could be unmatched). Unmatched bets keep open until other bettors place new opposite bets that could match them. You can cancel your unmatched bets at any time, before they are matched. You can also chose to void them when the event starts, or leave the, running during the event.
Liquidity is still a problem on Betdaq. Even on major leagues and events (Spanish football, Premier league, and so on), liquidity is much less than Betfair. As an example, let’s consider the match between Athletico Madrid and Espanyol (it is now less than 10 hours before the match). Although odds are quite the same, liquidity is much lower on Betdaq, as you can see on the next image.
The cash out button introduced by Betfair to lock profits or limit losses is not present on Betdaq’s website. If you want to use this feature you have to rely on third party software or the Betdaq+ mobile application, available for iphones and android devices.
Betdaq has also developed a Desktop application called Betdaq Trader. This application allows to perform more advanced tasks than on the web page. There are also some third party applications that provide different ways to place bets and more options, like cash out.
Fees and commissions
Betdaq charges a commission on your net winnings on a market. If you have a net loss on a market you do not pay commission. Commission is calculated by multiplying your net winnings by each user’s commission rate.
BETDAQ operates a layered commission structure; the more you bet, the lower your rate will be. The standard commission rate is 5%, but it can be reduced as low as 2%, depending on the points you have earned.
BETDAQ commission bands start at 5% and go down on 0.1% steps as you earn points. One point is earned for each £25 won or lost across exchange markets. At the end of each week the points you have earned in the previous seven days will be multiplied by 1 minus your % discount in the week and that total will be added to 85% of your total from the previous week to give a figure that determines your rate for the next seven days.
You can check your current commission rate and your current Betdaq points at the “my account” link.
A summary of the commission rate table is:
|Commission rate||Points needed|
Betdaq accepts most commonly used credit and debit cards (Visa, Visa Electron, Visa Delta, MasterCard and other).
They also accept Neteller, Skrill, Paypal and Paysafecard, as well as bank transfers.
With the exception of credit cards and Paysafecard, Betdaq does not charge their clients for any deposits made to their accounts. All Neteller, PayPal and Skrill deposits are free. The maximum deposit limit on your account will vary depending on how long you have been a customer with them and whether you have successfully passed security checks.
Betfdaq offers a help center where users can search for help, read answers to frequently asked questions and watch demo videos.
Customer support can be contacted by email email@example.com, or by phone. You can also contact other areas depending on you specific problem (firstname.lastname@example.org or email@example.com).
No live chat is available.
Bonus and free bets are sometimes offered by Betdaq. Customers receive offers by email for certain events or leagues.
Currently the following promotions are available:
- 30 Euro free bet or 50% commission back for new customers
- 0% commission on multiples
- Commission free for Saturday’s first match (English Premier League)
Betdaq is a betting exchange that allows to bet for (back) or against (lay) on a great number of sports, leagues, events and markets.
Betdaq’s liquidity is sometimes low and this is currently one of their main disadvantage over other options. This can result in slightly lower odds than other exchanges or bookmakers and the inability to place large bets. Of course this is not always the case and smart bettors can find value here.
Betdaq’s fees are 5% as a maximum, but can be reduced as far as 2%. There are no other fees. Users must always consider fees in their calculations.
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