Betdaq formed in 2000 and are currently the worlds second largest online betting exchange behind industry leaders Betfair. The company was founded by Irish businessman Dermot Desmond and was later acquired by Ladbrokes PLC in February of 2013. They currently hold approximately 7% market share and process in excess of £75 million worth of bets every week.
In this review we’ll take a look at the Betdaq website, how it works and how it compares to it’s main rival, Betfair Exchange.
Betdaq Welcome Offer: Sign up with the code DAQBACK and receive a rebate of any commission paid in the first 30 days. Maximum rebate £1000. New Customers Only. 18+. T&Cs Apply
The homepage of Betdaq looks similar to other betting exchanges with a list of sports in the sidebar and the main section of the page displaying current in-play events. If you’ve used Betfair and Smarkets before you’ll know that Betfair use blue and pink buttons for back and lay bets where Smarkets use green and blue. Just to confuse you even more, Betdaq use orange and green buttons. It’s a good way to differentiate the sites but it can get a little confusing if you haven’t used them before. Thankfully though, the process of placing your bets is pretty much the same and so you should have no problems using Betdaq as an exchange for your lay bets when matched betting if you’ve used other exchanges in the past.[spacer color=”B2B2B2″ icon=”Select a Icon” style=”1″]
[spacer color=”B2B2B2″ icon=”Select a Icon” style=”1″] There are two things displayed inside each of the back and lay boxes.
1 . The odds for the bet
2 . The available funds on that bet
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When placing your bets, it is important to check that the available funds is equal to or exceeds your stake. If you place a bet when the available funds are less than your stake, your bet may be partially unmatched. The market availability on Betdaq is lower than that on Betfair as expected, but you will not have a problem in having your bets matched on the majority of occasions, especially for popular sporting events.
Placing lay bets on Betdaq
As Betdaq is a betting exchange, you will mainly be using it to place lay bets when matched betting. Placing a lay bet is a similar process as when using Betfair exchange. First find the event you wish to bet on. This can either be done using the search feature by typing in a name of a team or event or you can manually search for an event using the categories in the sidebar on the right of the page. Next, after checking the odds of the lay bet haven’t changed, click on the green box next to the corresponding bet. This will open up your betslip where you can enter your stake. The liability amount for the bet will be shown after entering your stake.
How to place a lay bet on Betdaq
Once you have entered your lay stake and checked your liability, click on the purple ‘Place Bet’ button to confirm your bet. After placing you bet you can view your open bets by clciking on the ‘current bets’ tab. From here you will be able to view pending bets and confirm that your bets have been matched.
Betdaq Sign Up Offer
New customers at Betdaq will receive a welcome offer of 0% commission for their first 30 days. To make the most of this offer we recommend using Betdaq for your lay bets when possible for a month after registering an account with them. Sometimes you will find better value at other betting exchanges and so you will have to work out if it is more profitable to use Betdaq with 0% commission or pay the commission at other exchanges such as Betfair or Smarkets. To qualify for this offer, simply enter the Betdaq promo code ‘DAQBACK‘ when signing up.
Why use Betdaq?
As mentioned, Betdaq are the second largest betting exchange online and are an excellent alternative to Betfair exchange. Most matched betting sites include Betdaq in their odds matchers and so if you don’t have an account with them, you’re missing out on potential matched betting profits.
Betting Markets – Betdaq have a range of betting markets available that match those on Betfair. You may find that the available funds on certain markets are lower than on Betfair but for most popular markets and on big events, you will be able to have your bets matched without a problem.
Commissions – Commissions are only paid on winning bets and at a rate of 5%. However, 5% is the maximum commission charged to winning bets and a lower commission is applied depending on the number of bets you place. Betdaq have a customer loyalty scheme where you will earn 1 point for every £25 won or lost on the exchange. The lowest commission charged to winning bets is 2% for which you need to earn 12,000 points. 5% commission matches that of Betfair and the points system can be beneficial if you are placing a lot of bets with Betdaq. Smarkets currently charge 2% on net winnings across markets which does provide better value although the odds and available market funds on betting exchanges are usually more of a deciding factor when matched betting.
In-Play Betting – Betdaq offer in play betting for most sporting events. The betting process is the same as pre-match bets making placing bets in-play quick and effortless. However, there isn’t as many options when in-play betting as on other betting exchanges and so for these type of bets we would rather use a more active exchange such as Betfair.
Sports Pools – This is an excellent addition to Betdaq where users can win life-changing amounts of money from a £1-£2 bet. There are numerous pools to enter with varying prize pots. At the time of writing this review the largest pool awards a jackpot of £1,000,000 for picking 6 correct scores with an entry fee of £2.
Deposit / Withdrawals – Customers have a good range of options for making deposits and withdrawal from their Betdaq account. As well as accepting all major debit and card cards, Betdaq accepts various ewallets such as PayPal, Neteller and Skrill. Theres no fee for debit cards but credit cards do come with a charge of 1.5% on deposits.
Accepted deposit methods : Visa Debit, Mastercard debit, Visa Electron, Laser, Maestro, Visa credit card, Mastercard credit card, PayPal, Skrill, Neteller, Bank Transfer, Cheque.
Accepted withdrawal methods: Visa Debit, Mastercard debit, Visa Electron,, Laser, Maestro, Visa credit card, Mastercard credit card, PayPal, Skrill, Neteller.
The Betdaq website is fully mobile responsive making placing bets on your mobile device a breeze. There is also a Betdaq app which is available on Apple and Android devices which features additions such as live event streaming, race form and casino games. Navigation on the app is very good with categories well laid out and very fast loading times.
The Betdaq App
Betdaq Customer Support
Customers can contact the Betdaq support team through a number of channels. For a fast response to questions you can use the live chat feature which we found to work well with an almost immediate connection time. Support is also available via telephone, email, fax or by using the knowledge base which displays answers to the most common questions.