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Betdaq
Company typePrivate
IndustryOnline gambling
Founded2000
FounderDermot Desmond
Headquarters
Gibraltar
,
Gibraltar
Number of employees
50+

Betdaq (stylized as BETDAQ) is the trading name of Global Betting Exchange Alderney Limited (GBEA), whose registered office is in St. Anne, Alderney. GBEA was originally part of the Global Betting Exchange (GBE) group of companies founded in 2000 by leading Irish businessman Dermot Desmond who had the vision of creating a website where fans come together to bet with each other over the internet. GBEA was acquired by Ladbrokes in February 2013. Betdaq is the second largest betting exchange operator with approximately 7% market share.[1] Betdaq allows people with different opinions on the likely outcome of an event to bet against each other. A betting exchange allows people to bet against each other rather than against a bookmaker.

History

Betdaq was founded in 2000 by leading Irish businessman Dermot Desmond and started trading in September 2001. Its headquarters are located in Gibraltar, and it employs over 80 people. In 2013, Betdaq was sold to Ladbrokes for €30m.[2]

Betdaq offers betting markets on a range of international sporting and other events and claims to handle in excess of £75 million worth of bets every week.[3] Betdaq brings together bettors from around the world and allows gamblers to bet against one another, rather than using the odds set by a bookmaker. Betdaq charges a commission on all winning bets, which is set at 2 percent of the net winnings for most markets; this can vary depending on the amount of commission that is paid.[4]

Operations

Since Betdaq was launched in 2000 it has become the second largest online betting exchange company in the UK and the largest betting exchange technology provider in the world.[3] Betdaq operate a number of sports betting brokerages and websites from a central exchange hub providing partners with market pricing for sports wagering and risk management. The central Global Betting Exchange Alderney (GBEA) hub matches in excess of £75 million worth of bets from members and brokerages around the world each week to a value in excess of $7 billion annually. It has a team of 50 IT developers and has invested in excess of $30 million in the platform to date.[5] In early 2011, Betdaq finalised a deal for technology software from GTS, a CryptoLogic Inc company, and soft launched Betdaq Games which it integrated into the network.

In October 2012, Betdaq launched BetdaqNFL, a dedicated micro site that offers live streamed video match commentary direct from the USA. This site is dedicated entirely to the NFL and contains live NFL video previews along with results, chat and tips from resident pundit John Arnette.[6]

Sponsorship

In January 2011, Betdaq penned a "six-figure" deal with Kempton Park Racecourse which allowed Betdaq account holders complimentary access to Kempton Park on Wednesday night fixtures. The arrangement also meant that 176 races would be sponsored by Betdaq over the year.[7]

In July 2011, Betdaq became the official online betting partner of Celtic Football Club. The partnership was announced at a ceremony held a Celtic Park by Sky Sport pundit Alan McInally, the former Scotland striker who works as a brand ambassador for Betdaq.[8]

In September 2011, Betdaq became a sponsor of London Irish Rugby Club. Under the terms of the agreement, the Betdaq logo was displayed on the back of London Irish team shirts for all Aviva Premiership games and Heineken Cup matches.[9] They are set to be Sunderland AFC's sponsor for the 18/19 league one season.

References

  1. ^ Percival, Geoff. "Ladbrokes acquires BETDAQ betting exchange for €30m". The Irish Examiner. Retrieved 25 January 2013.
  2. ^ MULLIGAN, JOHN. "Ladbrokes buying BETDAQ for €30 from Desmond". Irish Independent. Retrieved 25 January 2013.
  3. ^ a b "Betdaq Help Centre: About Betdaq". BETDAQ. Archived from the original on 5 March 2012. Retrieved 1 April 2013.
  4. ^ "Betdaq 2% Commission". BETDAQ.
  5. ^ Blincoe, Robert. "Billionaire's betting exchange backs Android". The Register. Retrieved 30 June 2010.
  6. ^ Anonymous. "BETDAQ launches dedicated NFL microsite". iGamingBusiness. Retrieved 23 October 2012.
  7. ^ Anonymous. "Irish betting exchange Betdaq has penned a year-long sponsorship deal with Kempton Park Racecourse in London". SportBusiness International. Retrieved 18 January 2011.
  8. ^ Anonymous. "Betdaq becomes official online betting partner for Celtic". iGamingBusiness. Retrieved 1 September 2011.
  9. ^ Blaise, John. "BETDAQ SPONSORS LONDON IRISH RUGBY CLUB". Calvin Ayre. Retrieved 1 November 2011.

Further reading

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