Betdaq - One of the Leading Betting Exchanges
Betdaq (also stylised as BETDAQ) is one of the largest betting exchanges in the world. In fact, it is the second largest betting exchange based on market share. Betdaq is one of the exchanges available via BetInAsia’s BLACK platform.
If you’re looking to explore the Betdaq betting offer, our platform is a great option, because you will also simultaneously gain access to few other exchanges and many of the leading Asian bookmakers.
The range of sports that you can bet on at Betdaq is quite diverse. In addition to football (or soccer if you’re from North America), you can also bet on horse racing, cricket, tennis, golf, American football, basketball, ice hockey, Formula 1 and more. It is even possible to bet on virtual sports.
Betdaq covers top football leagues, mostly by offering Asian handicap markets. Bettors will be thrilled by the high odds and fast settlement.
How Bookmakers Make Their Profit
You may have placed bets with an exchange before, but let’s briefly go through the principles and dynamics of exchange betting.
A betting exchange simply allows you to place wagers against other punters instead of the bookie. Now, what does this effectively mean, you may ask? Let’s first explain how the bookmakers work, how they make their profit and then we can easily explain the differences between bookies and exchanges.
The best way to explain is through an example. Let’s say that Liverpool are playing against Manchester United at home and they are considered to be the favourites, so the odds for Liverpool to win are 1.90 at a conventional bookie. It is very likely that the odds for the opposite outcome, which is either a draw or an away win would also be about 1.90.
How Betting Exchanges Work
By explaining how the bookies make their profits we reached the key advantage of betting exchanges as opposed to conventional bookies. Namely, at a betting exchange you are not placing a bet against the bookmaker, you are betting against other players instead.
With the option to bet against other punters, the bookmaker’s profit is out of the equation. With this type of betting you and the other punter can agree under which conditions the bet will be placed, what are the odds and if you are both satisfied the bet will be placed. There’s no vig, so to speak.
Now, of course the betting exchanges have to make money as well, but everything is simpler, clearer and, more importantly, at better odds from a punter’s perspective.
So, let’s get to the point – yes betting exchanges charge a commission, that’s the cost of their service – namely, they give you a platform to place wagers against other punters.
In the case of Betdaq, the commission is 1.5%, but it only applies on winning bets. So, if you win a wager placed at Betdaq, only then you will pay a 1.5% fee on the amount that you’ve won. When you compare that to the vig charged by the bookies, you are still getting a pretty good deal.
The story of Betdaq began in 2000 when the company was founded by the Irish businessman Dermot Desmond. The company is based in Gibraltar and it soon became one of the leading exchanges in the world. In addition to a betting exchange, Betdaq is also a provider of technology used by other betting exchanges.
Betdaq handles bets worth about £75 million every week which amounts to over $7 billion on a yearly basis. Betdaq has sponsored a number of sporting events, clubs and organisations over the years, including most notably Sunderland AFC in the 2018-19 season.
So, there are two outcomes that have pretty much the same probability and are equally likely, but the odds for each aren’t exactly at evens, they are 10% lower than the actual likelihood for it to happen. That’s because the bookie has to earn and their profit comes from how the odds are adjusted.
Even if we have two outcomes that are equally likely to happen and the bookie offers 2.00 for one of them, the other outcome which is more or less equally likely to happen will be offered at lower odds, perhaps 1.90 or even 1.85. The difference between what should be the real odds, at least in theory, and the odds that are offered by the sportsbooks is called vigorish or the vig. Other terms, like the cut, the take, juice, margin are also used.
Sure, there are bookies that generally offer higher odds and there are instances where one sportsbook offers significantly higher odds on a certain bet compared to their competitors, but generally speaking the odds will be adjusted. There has to be a vig, because that’s how the bookies make a profit.
Betdaq on BetInAsia BLACK
BetInAsia BLACK is a trading platform which features a number of bookmakers and betting exchanges. You will gain access to the world’s leading Asian bookmakers, as well as three betting exchanges, including Betdaq.
The biggest advantage of BetInAsia BLACK is that you get direct access to more than one product, in fact, you get access to all exchanges and bookies featured on the platform. That is very convenient because you can directly compare which of the featured providers offers the markets and events that you are looking to bet on as well, and perhaps more importantly, which one offers better odds which directly translates to bigger potential returns for you.
The biggest advantage of Betdaq as part of our BLACK platform is that it is one of the largest exchanges so you will find markets, events and even sports that wouldn’t be available elsewhere.
Punters sometimes complain that the range of options available at exchanges are limited compared to what you get at conventional bookies, and that issue is bypassed with our BLACK platform, as it gives you immediate and direct access to both exchanges and conventional Asian bookmakers. So, if a market is not offered by an exchange, it might be possible to place it via one or more of the bookmakers that are available on BLACK.
No Restrictions on Winning Accounts
There’s another thing that separates BetInAsia and our BLACK platform from our competitors – we welcome winning punters! Perhaps you are not aware of this, but many betting companies restrict the accounts of punters who are successful and win more often than they lose. We do not do that! We will not limit or restrict your account if you are winning, on the contrary we will continue to give you a platform to keep winning.
Looking to Bet via Betdaq?!
If you want to register with us and be able to place bets via Betdaq exchange, and/or the other bookies and exchanges that are available on the BLACK platform, feel free to contact our customer support team, either via the live chat option, or at [email protected].
No deposit charges!*
*only card deposits have a 3% fee applied