We’ve talked a lot about betting exchanges in recent posts, from the steadfast Betfair – the top dog of betting exchanges, though not necessarily the best – to newer exchanges such as Smarkets and Matchbook. It’s time to focus on Betdaq, another popular betting exchange that’s been operating in the UK since 2001. Betdaq is the second largest exchange in the UK today with 7% of the market share, but does it deserve its place at number two?
A Big Exchange With A Commission To Match
All betting exchanges operate a little differently to bookies; rather than taking their winnings from your losses, exchanges take a small commission from all bets. (Most bookies take this commission from the winner; Matchbook takes a smaller commission from both the winner and loser.) Betdaq is no different, and their starting commission rate is 5%; this means, as a new customer, Betdaq will take 5% of your net winnings from each bet you place.
This 5% rate is one of the higher ones out there; both Betdaq and Betfair start their commissions at 5%, while Smarkets and Matchbook take closer to 2%. However, it’s worth noting that 5% isn’t necessarily a permanent rate; Betdaq offer commission bonuses for customer loyalty which can see their commission fees dropping to just 2% – a much more favourable figure, and worth bearing in mind for professional gamblers who place bets on a very regular basis.
More Punters Means More Liquidity
One benefit of Betdaq being the UK’s second largest betting exchange is increased liquidity. Betdaq has many more users than smaller exchanges like Matchbook and Smarkets, which means that you’re more likely to find someone to match your bet.
How much of an advantage this is does depend on your punting style, though. Liquidity is definitely more of a draw for gamblers who place bets either at short notice or on small, niche events that are likely to see less interest in any exchange. If most of your bets go on premier league football matches, you probably won’t feel the difference.
Of course, you aren’t limited to just one betting exchange. You might find that what works best is using smaller exchanges which charge lower commission fees for big matches and bets where liquidity isn’t a problem, while using Betdaq for smaller, less popular punts. In professional gambling, shopping around for the best odds (and commission rates) is usually par for the course.
It’s Always Worth Looking For Promos
Like Betfair, Betdaq really need to offer their customers a little extra in order to make up for those somewhat inflated commission rates. Luckily, Betdaq know how to run a decent promotion, and if you haven’t already signed up to the betting exchange you might want to do so in order to make the most of some of the promotions they’re currently running. While promotions don’t make or break an exchange, they are worth looking out for and taking advantage of on occasion, even if this doesn’t convert you into a regular Betdaq punter.
One such promotion Betdaq are offering to new customers right now can get you £25 of free bets. To qualify, all you have to do is enter the promotional code FB2515 when registering, and earn 4 commission points on the site within 6 months of registering. This is the equivalent of £100 in wins or losses, which shouldn’t be too difficult for regular gamblers following our tipsters betting systems. Once you’ve earned your points, you’ll be credited with £25 of free bets – which is not to be overlooked.
The fact that you’ve also got six months to earn your points means you needn’t necessarily use Betdaq when it isn’t the best exchange for your punt – you’ll no doubt in six months find plenty of bets for which Betdaq will be your most profitable option.
The Benefits Of Backing Number Two
One crucial aspect of Betdaq’s unique position in the market is the effect that being number two will have on their operation. While exchanges like Smarkets and Matchbook are much smaller, this allows them to corner their own place in the market with a niche USP – namely, lower commission fees. However, Betdaq are big and confident enough to take on Betfair – which means they’ve got to prove themselves. As the underdog of big exchanges, Betdaq know they’ve got to please their customers, which is why you’re seeing great promotions and service on offer.
Betdaq certainly has as much of a place in your gambling repertoire as any other big betting exchange. It’s always worth shopping around for the best odds, and if you can find these on Betdaq, it may sometimes be worth the extra commission. Most importantly, Betdaq will offer odds on niche bets that you might not be able to find elsewhere, so having an account in order to place these bets and to take advantage of great promotions is definitely a good idea.