Betdaq review
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Betdaq moved into Stakersland in the hope that they could ride on the coattails of Betfair – undoubtedly the park’s number one odds flea market.
Thankfully, Stakersland is big enough for more than one moving market and so the success of Betfair was too much for billionaire founder Dermot Desmond to ignore. The Irish-born Betdaq made the right decision to set up their traveling stalls and they now have a community of 67K stakers, most of which are from the UK and Ireland. With such a strong British inspiration the main sports markets at Betdaq include horse racing and greyhound racing. Plenty of the big British racing events are covered such as Royal Ascot, Windsor, and Chelmsford with a significant focus on virtual events, and a small stall set up for esports markets as well. CS:GO, League of Legends, Overwatch, and Starcraft fans can all get involved with the odds and betting action. It’s a respectable service from the traveling Betdaq team who obviously know a thing or two about what British and Irish punters want when it comes to betting at Stakersland.
The Betdaq Exchange does not set out any limits for their traders although there is a distinct lack of liquidity in their markets which may well limit trading action overall. However, the Betdaq Sportsbook imposes its forthright stance on limits just like any other bookmaker here in the land of stakers. A cap of £1,000,000 for the top tier leagues is available and limited to the following markets: Match Betting, Total Goals, Correct Score, First Goalscorer, Asian Handicaps, and Handicap Betting. All other football event types are capped at £50,000 for the main markets and £10,000 for all other smaller side bets. Elsewhere under the Betdaq banner, Betdaq Casino winnings are capped to £10,000 and the winnings and subsequent payouts for Betdaq Games are capped at £100,000 and £25,000, respectively.
So, if we take all those limits into consideration then it would take Betdaq a total of eight days to payout that top £1,000,000 amount. This is quite a critical time period in order to find the funds for a payout in relation to our own Stakersland guidelines. The lower payout caps of £10,000 is a more reasonable figure with only two hours required to balance the books. Add on top the fact that Betdaq is part of the loss-making GVC Union and that £1,000,000 figure will be hard to generate. However, the one saving point to make here is that GVC is a publicly traded company and so they would normally be able to payout their stakers eventually.
Established in Dublin, Betdaq has not quite found the fame it imagined in Ireland. But instead, it’s the British stakers that have been enjoying the second unique traveling market concept to hit the pathways of Stakersland.
THE BETDAQ EXCHANGE IS TAKING UP TO £4 MILLION IN BETS EVERY WEEK WITH EACH STAKER SPENDING UP TO £30-35 PER MONTH. NO LIMITS HAVE BEEN SET AGAINST THE EXCHANGE BUT THERE IS A £1,000,000 LIMIT WITHIN THEIR SPORTSBOOK WHICH SHOWS DECENT BETTING VALUE FOR STAKERS.
The Betdaq financial books show in excess of £4 Million worth of bets every month of which they charge 2% of all net winnings from most of its markets. Estimates show that they take around £30-35 per staker per month with the global commission charged at £4 million. Across the year, Betdaq make a gross gaming revenue of £50M which has helped to boost the piggy bank of owner Desmond. He’s managed to generate an extra £30 million through selling Betdaq assets and also via the overall acquisition by new owners GVC Holdings. We would obviously have to look at Betfair as a fair comparative model implemented by both companies, but the financials are going to be radically different. Betfair’s £80 million monthly and almost £1 billion in annual gross gaming revenues are on a completely different level to Betdaq, with an increase in average spend per staker as well at £40-50. It’s not only Betdaq that decided to set out on the road and promote their odds with a moving odds market either, Smarkets is the latest contender. In fact, although Smarkets is currently making a loss at the moment, the constant drive forward in making a name for themselves in Stakersland has pushed them to the number two spot in the exchange rankings. A £63 million annual gross gaming revenue from a 220,000 staker community is good going for such a young upstart. Who, we should mention, has also benefited and profited from rivals Matchbook losing their license.
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For all stakers looking to make a complaint in relation to Betdaq’s service, they have the options to go through the customer service to begin with. If there is no resolution or you’re not happy with the verdict then your complaint will be directed to senior management with an average resolution time of eight weeks. If you’re still unsuccessful then you can take it right to the top with their official ADR who is IBAS, and the other alternative is the Gibraltar Gambling Commission.
CONCLUSION
DON’T EXPECT ANY COMMUNICATION FROM THE BETDAQ TEAM ACROSS ANY OF THE SOCIAL PROFILES. NEVERTHELESS, A RECENT SURGE IN RATINGS AFTER THE UNFORTUNATE EVENTS HAPPENING OVER AT MATCHBOOK HAS BOOSTED THE BETDAQ PROFILE SLIGHTLY.
Betdaq is not currently active on any of the social networks and although the Trustpilot profile has been claimed, they do not provide any responses to queries or issues full stop. There has been a rise in ratings since February 2020 though and the Matchbook connection with its loss of license is most likely the number one reason in this positive surge. Pouncing on those roaming stakers who were exiting out of Matchbook was obviously a plan to improve their number three position in the overall exchange rankings at Stakersland. In fact, the Betdaq community is still shrinking and so they need to think of more innovative ideas to keep up with Betfair and the up-and-coming Smarkets.
