An Introduction to the Betdaq Review
It only seems like yesterday when the Betdaq exchange was formed with the intention of toppling Betfair from their status as the number one betting exchange.
For those who have been around the block a few times when it comes to using a betting exchange, you will probably be surprised to learn that Betdaq was in fact formed back in 2000.
* New Customers only. Min deposit £5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply.
It would be fair to say that they have gone from strength to strength and even though they have not managed to topple Betfair from the number one spot, they are still regarded by many astute punters as being the number one betting exchange on the market.
- Long established betting exchange
- Excellent live betting
- Cash out facility
- Regulated by UKGC
- Live Chat Customer Support
- Minimum deposit:£10
Many punters and experts within the online gambling industry were rightly concerned when in 2013, Betdaq was taken over by the bookmaking giants, Ladbrokes.
The fear was that Ladbrokes would basically turn Betdaq into another form of their sportsbook and it would lose most of its identity but they need not have worried because the involvement of Ladbrokes has only gone on to improve the overall quality of this brilliant betting exchange.
As you will read about in this Betdaq review, the Betdaq commission of only 2% across all markets is one of the major factors why they are so popular but there is far more to this forward-thinking betting exchange than just the hugely attractive Betdaq commission rate.
Betdaq License / Regulation
Even though it is easy to become focussed on the commission rate when it comes to choosing which betting exchange to do business with, what is probably more important is the fact that the licencing and regulation requirements have to be met.
In the case of Betdaq UK, they are fully regulated by the UK Gambling Commission which means they have to meet stringent requirements when it comes to the safety and security of everything which is associated to your account.
There are also strict requirements regarding the age of customers (over 18’s only) and there have to be measures in place to look after any customers who are experiencing problems with their gambling.
The Betdaq Welcome Bonus
The welcome bonuses with betting exchanges should only be regarded as icing on the cake as to being a reason why you should open an account or not because having a betting exchange account in this day and age should be regarded as being as a necessity as opposed to just another betting account.
As an example, so many punters are now interested in matched betting, (where you take advantage of bonuses and promotions which are offered by various sportsbooks) and to take advantage of this method of betting, you have to have a betting exchange account, end of story.
In the case of the Betdaq exchange welcome bonus, it is prone to change but at the time of writing it is a very basic £10 bonus which you will receive when you have placed your first bet at odds of evens (2.0) or higher.
Not the best of bonuses but better than nothing and something that you should be aware of is that if you ever claim a betting exchange bonus with the aim of laying it off in order to lock in a profit, make sure that you don’t use the same betting exchange to lay the bet off as it will raise a red flag on your account.
The Betdaq Exchange Markets
The range of markets available at Betdaq is huge and as this is now a long established betting exchange, there is adequate liquidity available across the vast majority of markets.
Liquidity has always been a big problem for the smaller betting exchanges and the main reason why punters have stuck with the bigger betting exchanges such as Betfair.
The most popular markets Betdaq markets are football and horse racing so if you want to look at how a betting exchange should work, take a look at the racing markets at Betdaq where you will struggle to come across a slicker platform which works so smoothly.
Sports such as snooker and American football are also covered (along with a vast selection of other sports) so it is doubtful that you will struggle to find the sports which you would like to bet on.
As betting with a betting exchange is completely different to betting on a sportsbook, especially if you are laying bets, it is important that you take the time to understand how the whole betting exchange concept works.
It is not difficult to understand and you will be pleased to know that there are comprehensive training guides on the Betdaq website to help you.
Just like the other major betting exchanges, when you click on the Betdaq login you will see that they also have a casino.
The casino games are advertised on the Betdaq home page so that distraction is always there and if you add to the fact that Betdaq also sometimes offer casino promotions, it can sometimes serve to be something of a distraction which is not always a good thing.
The Betdaq Оdds
It is impossible to compare the odds on offer between one betting exchange and another due to the fact that the odds are market driven by the punters who are placing their back and lay bets.
One thing is for sure though is that if you have not been involved with a betting exchange before, you will be shocked by how quickly the odds move, especially in the periods just before and during the match.
It is therefore a good idea to take the time to familiarise yourself with the Betdaq UK markets so it won’t come as too much of a shock to you when you place a bet on Betdaq for the first time.
Betdaq Live Betting
Live betting is what betting exchanges are all about so as you would probably expect, if you want to get involved in live betting you won’t go far wrong by opening an account with Betdaq.
Betdaq cricket betting is proving to be an increasingly popular live betting medium with football and horse racing being the most popular.
Something that should be remembered is that even though Betdaq offers a robust and stable betting platform, if you are not using a decent device from which you place your bets, the chances are you will not be happy with the overall performance of the Betdaq platform.
This applies to all aspects of sports betting but even more so when using a betting exchange due to the fast-moving nature of this type of betting.
We are not talking about the need for an expensive computer or mobile device but if you have a computer which is over ten years old, it might be a good idea to upgrade and pay for it from your betting profits.
Betdaq Live Streaming
Something which is quite surprising about Betdaq live streaming is that it is not available on the desktop version of the website in any shape or form but there are limited live streaming events which are available on the mobile device which we will talk about later in this Betdaq review.
This will be a big deal for some punters so as always, the advice would be to open an account with a bookie like William Hill or Coral to take advantage of their live streaming facilities.
If you are getting involved with live trading on Betdaq UK, there could be a valid argument that you will be too busy watching the live betting markets as opposed to watching the live streaming of the event which you are betting on.
Betdaq Cash Out
The Betdaq cash out is another aspect of a betting exchange which basically goes with the territory and this is the case with the Betdaq cash out.
To cash out a bet you will need to place an opposite bet to the one that you have made, for example, to cash out a back bet you will need to place a lay bet and to cash out a lay bet you will need to place a back bet.
To make it easier for you, there is a Betdaq cash out facility available which basically gives you a cash out figure and you will need to click on this figure to activate the cash out.
You should be aware though that if you are trying to use the Betdaq cash out facility in an event which has gone in play, you will have to move quickly because of the very nature of these fast moving markets.
Mobile Betting with the Betdaq App
- Extremely well laid out
- Dedicated Android and iOS app.
- Live bets
- Live streaming
The Betdaq app is available for both Betdaq Android and Apple mobile devices and most punters will agree that the Betdaq app is very good.
It has exactly the same feel as the desktop version of the website so there will be no confusion when you use it for the first time and it is extremely well laid out.
There is nothing worse than when you are backing or laying a selection on a mobile betting exchange device and you are having to mess around trying to work out what you have to do.
Everything to do with a betting exchange is fast moving and with the Betdaq app, you will experience no problems at all.
The Betdaq android and Apple app uses the same web wallet is the desktop version of the site so everything is extremely straightforward when it comes to making deposits and withdrawals etc.
Betdaq Deposits and Withdrawals
The Betdaq deposit and withdrawal options are actually very straightforward so if you are looking to make a deposit by a little known method, you will be disappointed.
Credit/debit cards, bank transfer along with Skrill, Neteller and PayPal are the accepted Betdaq deposit methods.
Skrill would have to be the most popular, especially amongst the matched betting fraternity due to the fact that withdrawals usually arrive back in your account within the hour.
The other methods take longer (apart from the web wallets) with the average time for a withdrawal being five working days.
Betdaq Bet Limits
The only bet limits with your Betdaq account will be determined by how much money you have in your account and the liquidity which is available on the selection that you would like to place the bet on.
When you take this into account, it is not difficult to understand why betting exchanges are so popular.
Can you imagine for one minute being able to place £1000 plus bets on a regular basis on your William Hill account, or any other UK sportsbook for that matter, you would soon find your account being heavily restricted.
When it comes to the maximum withdrawals that can be made from your Betdaq account over a 24-hour period, it is dependent on your deposit method so always check before you attempt to make a withdrawal of more than a couple of thousand pounds.
|Betdaq Banking Options|
|Football, Tennis, Ice Hockey, etc.||£5||3-5 Working Days|
Opening an Account with Betdaq
You have hopefully got the message from this Betdaq review that opening a Betdaq account is highly recommended so you will be pleased to know that opening an account is extremely straightforward.
All you need to do is click on the turquoise ‘’Join Now’ button and follow the steps.
You will need to confirm your email address and you will then receive a welcome email followed by a KYC request.
A KYC request simply requires you to send a scan of your passport/driving license along with a scan of a utility bill.
Some punters don’t like receiving these requests but they are put in place to protect you as well as the betting exchange.
If you are opening several sportsbook accounts it is a good idea to have these scans already prepared so that you can send them off straight away when you receive a KYC request.
Bear in mind though that the utility bill usually has to have been issued within the past three months so you will have to keep that updated.
Placing a Bet with Betdaq
When you have set up your Betdaq account you will want to place your first bet so depending on what the sign-up bonus is, you will want to place the first bet with that in mind.
It could be the £10 bet which is available at the time of writing or there is a Betdaq 20 free bet from time to time which is obviously more attractive.
We will use the £10 free bet as an example, when you have made your deposit you will need to place a bet of £10 on a selection with odds of evens (2.0) or higher.
When the bet has been settled you will see that there will be a £10 free bet in your account which you can use for your next bet.
Ongoing Betdaq Promotions
As a rule, Betdaq are not really known for their ongoing promotions but you will receive ongoing offers to play on their casino and their virtual sports games.
It is obviously entirely up to you whether you take advantage of these promotions or not but bear in mind that virtual sports have nothing to do with form or anything like that.
They are just like playing slot machines only in the guise of sporting events with the results being completely random.
Betdaq Customer Care
Whilst it is important any sportsbook has great customer support it is even more so in the case of a betting exchange.
The betting exchange is a new concept for many punters so it goes without saying that they will have questions so it is no good at all having Betdaq live chat operators in place who are just going through the motions, they need to be very well trained.
You will be pleased to know that they are so it doesn’t matter if you use the Betdaq live chat, the Betdaq contact phone number or email, any problems that you may come across will be very quickly resolved and in a friendly manner.
Betdaq Safety and Security
As Betdaq is fully regulated by the UK Gambling Commission, you can rest assured that your account. along with any funds you hold in the account, are safe and secure.
Full SSL encryption is in place which means that you don’t have to worry at all regarding safety and security so you can concentrate on the job in hand which is to use Betdaq to make some money.
Should You Open a Betdaq Account
Betdaq is one of those accounts which you shouldn’t think twice about opening.
They have been regarded as number two to Betfair for a very long time but that shouldn’t stop you from opening an account with them.
Just like Matchbook, they are constantly raising the bar regarding the service that they offer to their customers and it is looking more and more like their involvement with Ladbrokes has been nothing but a good thing.
The 2% commission rate is obviously a good thing but you shouldn’t base your decision on whether to open an account with Betdaq or not solely on that reason because that can change.
There may nbe a time in the future when the other exchanges match that rate or Betdaq may have to increase their commission rate.
What is more important is that Betdaq is a solid betting exchange which is here for the long term.
The Betdaq live chat is first class, as it should be, so if you do have any problems, they will be sorted out very quickly and you will be able to get on with your business.
All in all, Betdaq is a fantastic betting exchange which you should seriously consider opening an account with.