Betdaq are the world’s second biggest online betting exchange and in this review we’ll cover how they compare to the biggest exchange out there (Betfair) and what features the site has to offer punters.
If you’ve hung around on Cheeky Punter for a while, and read our blog section, you’ll know that I’m a keen sports trader and have been using exchanges for over 9 years now.
Betdaq are basically my second choice betting exchange so if for any reason I can’t use Betfair, I’ll fire up Betdaq.
That being said I wouldn’t recommend Betdaq although their site does serve a purpose if you’re a serious trader and you need a back-up.
Other than being a back up to Betfair there’s little reason to sign up at Betdaq and I’d recommend Betfair over them all day long.
Licensing & Safety
Betdaq is licensed and regulated by the United Kingdom Gambling Commission (License Number 003367), therefore they are obviously a reputable company to use, regardless of the sport that you like to bet on. The fact that they are regulated by this organization means that they must:
- Ensure that all of the actions of the site are completely fair and unbiased.
- Make sure that those under the legal gambling age are unable to bet on the site until they are of an age whereby they understand the associated risks.
- Provide anyone with problems related to gambling with assistance and advice regarding how to sort out their issue.
- Betdaq was founded in 2000 and has nearly two decades of pretty flawless operation when it comes to paying out players and providing an exchange betting service.
- In 2013 the company was sold to Ladbrokes for a reported 30 million euros and is now part of the Ladbrokes Coral group.
- When it comes to safety and financial backing, given their ownership, punters should have no questions or concerns regarding Betdaq who we assign our safest possible rating.
Deposits & Withdrawals
£10 – £10,000
£10 – £10,000
£5 – £25,000
£5 – £25,000
£5 – £5,000
£10 – £unlimited
£10 – £50,000
Markets & Odds
Betdaq are certainly not one of the better known names in the world of UK online gambling, but they do have all major sporting events covered for punters.
Although they don’t have as many markets as the “big boys” they still provide more than enough to keep even the most serious gambler interested. Liquidity can however be a problem with less popular events. The sports that they offer are:
- Aussie Rules
- Horse Racing
- Ice Hockey
As can be seen, the selection isn’t massive and if you’re a super high stakes punter then you’re not going to be pleased with the amount of money available to back and lay on different events – honestly most exchange bettors would be better off using Betfair.
Betdaq is better used as a secondary exchange. More of a backup for Betfair. The bigger the event the more liquidity you’ll see at Betdaq so for things like Premier League football you won’t find a problem. As soon as you start sifting through their less popular markets problems start to arise and in many cases you’ll struggle to get a large wager matched.
Betdaq have also recently added the chance to place multiples on the site – it’s not part of the exchange but it’s a nice addition odds offered are very competitive.
Now if they’d only improve on their 1990’s website design it might be a usable service.
Well Betdaq wouldn’t be a exchange if they didn’t offer live odds and the chance to both back and lay selections whilst the event is taking place. A list of the markets which will be turned in-play can be found do the right hand side of the Betdaq website (or on the app). Clicking the market will take you to a screen where you can bet the odds live.
Once again though, whilst the selection on offer is decent, liquidity is poor on lesser markets and you can’t guarantee to get big back or lay bets matched.
We’ve said it before but just to reinforce the point… you’re better off using Betdaq as a backup exchange, for big events or when there’s a good rate on commissions.
Betdaq are an online betting exchange and as a result they’ve structured their bonus offer a little differently to the majority of bookies out there (the old Betdaq free bet is no more).
They are giving all new customers the chance of up to £1,000 cash back on commissions for 30 days when they join and use the correct Betdaq promotion code:
Here’s how to claim:
- Visit Betdaq by Click here to visit Betdaq.com
- When you hit their landing page click either the ‘Join Now’ button to get started.
- You’ll be taken directly to the registration form where you need to fill out your details.
- When you get to the promotions code box use code: DAQBACK
- As soon as you make a real money deposit you’ll have 30 days worth of free commissions on the exchange (up to £1,000).
You’ll notice that we opened up our Betdaq review by awarding them a 3.5 star rating out of 5 stars. We grade all the sites we review on CheekyPunter.com and the grades range from 5* right down to 0* – find out more about the individual grades via our ‘Reviews’ section.
We acknowledge that giving a site a grade and not providing any explanation for that grade is useless to our visitors so in this section of the review we’ll be telling you why we’ve given Betdaq 3.5 stars and what they could do to move up the rankings.
There is a problem with liquidity at Betdaq and by this we mean the amounts available to back and lay on individual events. The reason for this is simply that they don’t have a large enough customer base and until they do they won’t improve. People are put off by this so it’s a bit of a catch 22 situation for Betdaq – for the regular exchange bettor Betfair is just a much better option.
Aside from the major downside that is the liquidity at Betdaq they’ve done a decent job with their brand. They are offering a decent bonus which rewards active participants on the exchange, they are regulated within the UK which means your money will be safe and secure with them and you’ll often find better odds at Betdaq than you will with traditional bookmakers who tighten the markets to ensure a profit (Betdaq don’t need to do this as they just facilitate bets between different people).
The promotions running don’t really deliver long term value at Betdaq and that coupled with the above has meant they can only really achieve a 3.5 rating overall.
Should I Just Use Betfair Instead?
Short answer… yes! The Betfair exchange offers a way better user experience. Has more market liquidity and they offer a better sign up bonus to new customers. Betdaq are a back up exchange at best.
Why Don't Betdaq Update Their Design?
Honestly we don’t know – they’ve peddled the same old horrible text based website design using that awful white and purple for years. They show no signs of bucking their ideas up.
What's Betdaq Like On Mobile?
Unfortunately Betdaq is just as bad on mobile as it is on a desktop or laptop. Whoever is responsible for the user experience at the company needs to get with the times and roll out an update pronto!