BETDAQ Review

FULL REVIEW - BETDAQ (7.9)

BETDAQ is an online betting exchange operator that was founded in 2000 by Irish businessman Dermot Desmond and is based in Dublin. They are a privately owned company that employs about 100 people and are headquartered in the International Financial Services Centre in Dublin.

An online betting exchange differs from your traditional bookmaker in that when a bettor places a wager on an event, the bet is waged against other fellow bettors, not a bookie. BETDAQ acts merely as a middleman and makes its money by charging small commissions to the winner. Most bets placed on betting exchanges are typically fixed odd match result wagers but in recent years their market scope has expanded into Asian handicaps as well.

BETDAQ sets itself apart from its rival and industry leader Betfair by charging a significantly lower commission of 2% (that is only paid by the winning bettor), as opposed to Betfair who charges 5%. Betting exchanges are able to charge a much lower commission since they are bringing two parties together, thus eliminating the risk for themselves.

BETDAQ’s other main selling point is that their odds, on average, are 20% higher than those of traditional bookmakers, due to the unique arrangement of the betting exchange. Since the odds are set by the punters themselves, odds on more speculative matches can be as much as 50% higher than their traditional bookmaking competitors!

Customer service has been reported by many of its customers as fairly average. They offer several email addresses for different departments specific to the question you may have, however their response time is not particularly short. However, they do offer an interactive helpdesk where you can speak directly online to a service agent.

Most normal deposit methods are available, however the only currencies accepted are GBP and Euros. Withdrawal time is pretty standard. Money back on your debit card usually takes about 24 hours, while all other transfer services take about 2-5 days.

It has recently been brought to our attention that Betdaq has experienced some financial setbacks and have failed to submit required financial statements to the British government's Companies House in a timely nature. More often than not, acts of the sort indicate ailing business, which in turn can ultimately affect customers' financial security. Please be wary of these type of situations before registering with online bookmakers.