Betdaq is the second largest online betting exchanges on the globe, and one of our top choices as far as betting exchanges go.
As a new customer at Betdaq, you can look forward to a welcome offer that helps reduce commissions and you can even avoid premium charges the likes of Betfair have introduced.
Get started with Betdaq – check out their latest promotions for new customers here.
So we are writing a BetDaq review, but here’s what we are really writing “Is BetDaq better than Betfair?”
That I suppose is down to personal preference.
Betfair charges 5% commission, BetDaq charges 2%. So if you care a great deal about that you’ll go with BetDaq because it’s cheaper, but truth be told most people don’t care.
What people care about is what they like. And some people like will Betfair and some people will like Betdaq.
We’ve put together this Betdaq exchange review to bring you a comprehensive overview of the exchange. The UK sportsbook is operated by Ladbrokes International and the online betting exchange platform is run by Exchange Platform solutions.
So, how does Betdaq work? It works seamlessly. That’s because the exchange provides smaller risks and excellent Betdaq odds to punters. Not only does the exchange offer plenty of bonuses and promotions and a massive variety of sports, but they also provide world-class customer care service and excellent user experience.
Let’s get right into the nitty-gritty now with our review. Here’s Betdaq explained.
Anything worthwhile for new customers?
BetDaq promotions are pretty good, some decent breaks on commission and you can get your first month’s commission back as cash back.
The only thing I can say is that they are not Betfair and that’s a good reason to open an account and put some bets through. Not that there is anything wrong with Betfair, but competition is important and there are only really four betting exchanges anyway.
They all pretty much do the same thing, that is give access to markets at slightly different costs. They are more like stockbrokers than bookies.
You just like who you like, you’ll probably have accounts with all of them and rotate between whatever app is easier to navigate at the time, or whoever takes your fancy.
BetDaq versus Betfair
Now, should you choose Betdaq or Betfair?
They were both founded in 2000 and both have decent liquidity on popular events. Although of course as Betfair is bigger, theirs is better.
Both sort of offer fixed odds – Betfair has it’s own fixed odds platform since it joined forces with Paddy Power. But so does BetDaq since it was bought out by Ladbrokes.
There is even a Ladbrokes betting exchange, but that’s just a reskinned version of BetDaq.
And let’s be completely honest here, re-skinned bookies (or white labels) are a bit chavvy. If you’re a proper sports trader or after a betting exchange to lay off your matched betting bets you want the proper thing.
What else to BetDaq offer?
- Trading Tips
OK, sure everyone offers this now, so I don’t know why you’d open an account with Betdaq and not Betfair if you only wanted one betting exchange account. Which you almost certainly won’t. So you will.
Both exchanges operate rather similarly. The winning bets are subject to a minimum commission charge, but prices are usually much better than a regular bookmaker.
While this is certainly a Betdaq exchange review, we need to consider the differences between Betdaq and other exchanges out there. There are only really two differences in the Betfair and Betdaq commission structure.
Betdaq commission rates and rebates are generally more generous, whereas Betfair charges a premium charge and Betdaq doesn’t.
Up until recently, Betdaq offered as little as 2% on bets, which is great if you’re turning over decent volumes. They also regularly offer cash back to customers that use the site’s trading tools (you just have to remember to opt in to take advantage).
So, again, we ask, Betdaq or Betfair? Well, Betfair doesn’t really offer anything to its loyal punters. The exchange’s premium charge is taken from winning customers on Wednesdays, and it starts at 20%, going all the way up to a staggering 60%. We know that Betfair dominates the online exchange market, which is probably why they can get away with it – for now.
Overall, both exchanges have their uses. The biggest concern we have with Betfair is that premium charge, which you can avoid by using Betdaq.
Betdaq versus Smarkets
Betfair may be a big deal to punters, but Betdaq and Smarkets aren’t far behind, with rather similar offerings that will be familiar to regulars at Betfair.
When we look at Betdaq or Smarkets, we need to consider what’s on offer. Overall, market for market, Betdaq has a better range on offer, covering everything from golf, cricket and tennis to greyhound racing, darts, ice hockey and everything in between. Smarkets, on the other hand, is the only market to cover handball but has a narrower selection in terms of horse racing, football, boxing, cricket, rugby and motorsports.
What about Betdaq or Smarkets for other types of betting?
Well, Smarkets seems to like its politics, offering everything from odds on the next Prime Minister to when Donald Trump could be impeached. Betdaq sticks to sports, but there is an online casino offering which we’ll get to in a bit.
As for commission rates, both markets charge 2% on your net winnings across their markets.
Betdaq versus Matchbook
Compared to Betfair and Smarkets, Matchbook’s layout is a little all over the place. But, the design is fine for what it is.
When it comes to choosing between Betdaq or Matchbook, the odds are worth talking about. Matchbook’s odds are sometimes presented to three decimal places rather than the typical two. It’s somewhat off-putting, but once you get used to it, it just means the matched betting calculators may well give you an accurate result, rather than being a penny or so off.
What about Betdaq or Matchbook in terms of features? Matchbook, we think, lacks some features, particularly a cashout option, rendering it not a particularly viable option for many punters.
Overall, it’s the lack of stability that lets Matchbook down. Users have previously complained of balances showing at zero, bets being cancelled and a range of technical difficulties.
BetDaq commission rates and offers
Since the smaller players like Smarkets and Matchbook have entered the market trying to win business with discounted commissions of 1.5% BetDaq has lowered their commission rate from 3% to 2%. That’s about as good as it’s going to get from a major exchange like BetDaq. BetDaq does offer cash back and commission specials on certain events. Overall BetDaq’s combination of brand, liquidity and 2% commission make them the clear winner when it comes to sports traders exchange betting.
Betdaq has been going all out to attract punters by offering lower commissions and boosting their welcome offer. The Betdaq commission rates are pretty decent, and you can even get your first months’ commission back as cash.
Let’s take a closer look at the Betdaq commission rates 2018.
As I mentioned, smaller players like Matchbook and Smarkets try to win business with commissions of around 1.5%. However, the Betdaq exchange commission has been dropped from 3% to 2%. They also offer cash back and Betdaq commission rates specials on certain events. So, their combination of liquidity and a decent 2% Betdaq commission rate, along with pretty decent Betdaq fees makes them a clear winner in the sports exchange market.
The exchange even offers 0% commission on eligible new punter’s first 30 days’ worth of bets.
Betdaq provides some pretty decent offers, but it is the Betdaq Welcome Bonus that really sets it apart from other exchanges. With the bonus, new punters who register can get up to £/€25 in free bets, which is generous on its own, but there’s also a hearty Betdaq new customer offer of 50% of the exchange’s commission up to a whopping Betdaq £/€1,000 cash-back.
But, Betdaq doesn’t just stop at the Betdaq signup offers. In fact, punters are encouraged to check in regularly for daily bonuses and match betting on virtual games and races where you can get £/€10 when you bet £/€10. There’s even an attractive Betdaq introductory offer at the online casino where you can get £/€30 on casino games.
Terms and conditions, as always, apply, so be sure to read the small print and Click Here for the promotional codes.
Betdaq Free Bet
How to claim a BetDaq free bet
BetDaq doesn’t really offer free bets, what they offer instead is cash back on commission. If you want a free bet from BetDaq you’re better of claiming a free bet from a traditional bookie who has much better offers. If you are a matched better you can use this commission cash back to increase the margins on laying bets.
At the time of writing, though, there were a few free bets on offer. The exchange regularly updates its offerings, but at the time of writing this review, bettors could claim the Exchange Promotion where they stand to get a free bet up to £/€20.
There’s also a Betdaq €/£25 free bet and, when you lose on a virtual sports bet, Betdaq promises to refund your stack back as a free bet of up to £/€10 to be used on other virtual sports betting markets on the site. Long-time punters should also check out the mid-week multiples offer where you can get £/€10 free bets each week you place multiple bets of £/€100 or more.
As for how to use free bets at Betdaq, things couldn’t be easier for new punters:
• Click on “Bet Now” at the top of the page
• Choose the promotion you’re interested in and click on the “Learn More” link
• You’ll be directed to the registration page to sign up if you’re a new player
• Enter the promotion code
• Deposit funds into your account and start playing with your bets!
At Betdaq, all customers bet £/€10, get £/€10.
There’s also an enticing ITV racing bonus where you stand to get a £/€20 boost on your net winnings. Don’t forget to check in with the exchange on a daily basis for new promotions, which are updated regularly.
The Betdaq casino mostly uses software designed for casino table games. The selection of games in the live casino section is small and mostly revolves around roulette and blackjack. However, you can play the games both on desktop and mobile devices and there are almost 50 in-house developed games for you to pick from.
The Betdaq Casino Welcome Bonus is bet £/€10, get £€30. It’s a good Betdaq bonus for new players, which means you can get £/€30 just for betting £/€10.
Whether you’re eager to play Betdaq mobile cricket, or just wondering if there’s a Betdaq mobile download for you to use on the go, you’re in luck.
Does BetDaq have an App and what’s the BetDaq app like?
Yes, there is a BetDaq app on iOS and Android. You get access to the same markets that are online and it’s a fairly stable alternative to the Betfair app for trackside action. You can download it from the app store, about 35,000 users. So decent enough for laying and backing bets through mobile.
Should you just use the BetDaq mobile site instead?
To be fair though, the mobile site is just as good and in some cases, I actually prefer using mobile sites rather than apps.
The Betdaq exchange app offers pretty much the same functionality as the desktop version. While Betdaq for iOS is somewhat basic and lacking in key features, you can still make bets during Betdaq in-play on the Betdaq mobile site and play at the site’s online casino.
Betdaq Markets and Liquidity
Now, let’s talk Betdaq liquidity 2018. Whether you are a horse racing fanatic or football crazy, or like a flutter on greyhound racing, there’s something for everyone.
If you’re a major high stakes punter, you might not be too pleased with the amount of money available to back and lay on certain events, and that’s when you may want to consider Betdaq as your secondary exchange.
However, the bigger the event, the bigger the horse racing liquidity, greyhound racing liquidity and other market liquidity. It’s when you start looking through the less popular markets that you might find issues, such as struggling to get larger wagers matched.
The exchange has recently added the opportunity to place multiples on its site, which isn’t actually part of the exchange, but still a nice little addition with highly competitive odds.
As for the markets on offer, you will find:
• Virtual sports
Security and Regulation,
At Betdaq, security is tight. Your card details are encrypted when depositing money, and the secure payment service providers include Allied Irish Bank and PaymentTrust. Security measures are regularly reviewed, too, to ensure the highest and tightest levels possible.
Funds in your account are held by a trusted company which protects your money and preserves the exchange’s integrity.
Betdaq is regulated by the British Gambling Commission and the Gibraltar Gambling Commission, making this a safe betting exchange to use.
Payment Methods, Withdrawals and Deposits
When it comes to Betdaq deposit methods and withdrawal options, there are some decent choices, including the usual debit and credit card options along with popular e-wallets. There’s also a 0% charge on Irish and UK debit cards, while credit card users incur a 1.5% charge on all deposits. There’s no charge on e-wallet Betdaq deposit methods.
Once you register, you’ll be able to deposit funds. As for Betdaq deposit limits, they’re a reasonable £5,000 per day, and there’s a Betdaq minimum deposit requirement of £10. You can also ask customer service to increase your deposit limit.
Best of all, there are no withdrawal fees.
Now, on to Betdaq customer service – a service that often makes or breaks a site. Fortunately, it’s a thumbs up for Betdaq owners who provide a Betdaq live option along with a phone number you can get hold of the team on, which is 08701781 012. This is the UK contact number. Irish punters can call 01 673 3360 when they need help. You can also email the Betdaq customer service team at [email protected]
Betdaq Tips Check
What are BetDaq tips like?
In theory, they should be better. It’s a bit odd when normal bookies give betting tips because they make money when you lose bets. So surely there is a massive conflict of interests there. However, betting exchanges make money on commissions from winning bets. So it makes sense from them to try and help you out a little. BetDaq betting tips are good enough, but if you want some proper statistical analysis you are better off going with someone like Stratabet and then trading through Betdaq.
While the tips aren’t the best, we have to remember that betting exchanges do make money on commissions from your winning bets, so it just makes sense that they do try and help you out, if only a little. Betdaq’s betting tips are pretty average, but the site also runs Trading Tools where, if you want to become a better trader, you’ll find everything you need right there. There’s also a fairly decent tips section for virtual betting that you might find handy.
We’d say that Betdaq has done a good job at keeping a grip on its world-class reputation as one of the biggest online betting exchanges in the world. But, there is always room for improvement. The market offerings, though, are extensive, and the lack of withdrawal fees along with enticing bonuses and promotions means we give this exchange both thumbs up.