BETDAQ Review

BETDAQ
BETDAQ
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BETDAQ is an Ireland-based company offering a very reliable punter-to-punter sports betting exchange. The site has been operating since 2001 and now matches over £50,000,000 in bets every week. Bets being offered through the exchange typically offer 20% better odds than those you’d find through a regular bookie.

Sports Available : All major sports are covered on the BETDAQ market, with the most popular being football and horse racing, as well as cricket, tennis and golf. You’ll also find rugby union and rugby league, greyhound racing, boxing, darts, Formula 1, plus American football, basketball and baseball.

Betting Exchange : If you are unfamiliar with punter-to-punter betting exchanges, please see the section ‘How Does BETDAQ Work?’ further below.

Live Betting : Often bets can be placed even after an event has begun – at BETDAQ this is known as ‘In-Running’. Events offering ‘In-Running’ betting are marked by an icon and this means bets may be placed right up until the final moments of an in-play event.

Mobile Betting : BETDAQ has iPhone and Android apps so you can easily check odds and place bets anywhere you go. Owners of other internet-connected phones, including Blackberry users, can use the BETDAQ mobile-optimized website to access your account and place bets. Placing bets over the phone is also available.

Loyalty Rewards : Each time you place a bet you’ll be earning rewards points, and you can then redeem your points for your choice of items from the Rewards catalog – popular choices include quality wines, electronics and flat-screen TV’s, jewellery and gifts, and more.

Live Video : Horse racing fans will appreciate the live feed supplied by At the Races – after placing a bet on any race you can watch live video of the event.

Other Features : Like many sports betting websites, at BETDAQ you’ll first see the odds expressed in decimal form – this is typical for Europe but you can easily change to regular UK fractional odds by selecting the ‘Options’ link near the top of each market.

One great feature of BETDAQ is the ‘Live Bets Panel’ which you can use to keep track of all your bets. After placing one or more bets a helpful panel will appear at the bottom of every page on the site, showing the status of each of your bets. This allows you to conveniently see whether bets have been fully or party matched, and when the status of a bet changes it will move to the top of the list so you can quickly see any changes. You can also use the panel to easily change the odds or stakes of any unmatched bets.

MultipleBet is a section of the site displaying all the available possibilities for combining two or more selections into a single bet.

Apart from the punter-to-punter exchange, BETDAQ also offer their ‘1Bet’ service which is a traditional bookmaking service.

Two useful features on the site are the Tip Check and Price Check links which feature at the top of many markets. The Tip Check allows you to quickly see tips from a range of sources, while the Price Check shows odds at other major bookies so you can see how BETDAQ compares.

How Does BETDAQ Work?

BETDAQ is not like a regular bookmaker, it is instead a method of connecting punter-to-punter bets. So instead of betting against the bookie’s odds, you’ll be accepting bets made by real individuals just like yourself, and you can make your own bets that other punters can choose to accept. As a result, you’ll often find or make bets at around 20% better odds than at a traditional bookmaker.

BETDAQ handles all the details to make a smooth transaction, taking care of the transfer of payments between both parties and ensuring fair and accurate results. For these services BETDAQ takes a commission – the standard rate is a low 5%, but new accounts receive a 3% rate during 2012. Since the commission is only taken from the winnings, that means the punter on the losing side of the bet doesn’t pay anything other than their actual bet, while the winner pays the small commission rate. Of course the odds are usually considerably better than a traditional bookmaker so the winning punter ends up ahead regardless of the commission.

Other benefits of a betting exchange include the possibility of choosing your own odds rather than having them dictated to you by a bookmaker, and also an exchange offers you the ability to take the bookie’s side by betting against positions, in other words betting that a team or sportsperson will lose an event – this opens up a whole new way of betting that usually isn’t possible to punters.

If you haven’t experienced a punter-to-punter system before, there will be a short learning curve while you figure out how it works – but don’t worry, BETDAQ has designed everything to make it as easy as possible. There’s even a series of video ‘Demos’ showing exactly how to use the system.

Here’s how it works in a nutshell : First you should understand that BETDAQ displays a combined (aggregated) amount which consists of all individual punter’s bets when the odds are the same. Here’s an example to help make that clearer : if ‘Punter A’ wants to bet that Arsenal will win at odds of 1/5 and this punter wants to stake £100 on it, and ‘Punter B’ also wants to bet that Arsenal will win at odds of 1/5 and this punter wants to stake £150 on it, then the system would show a combined stake of £250 available for other punters to bet against.

In this way there can be hundreds of punters all making individual stakes but you don’t need to worry about that, you can just choose the odds you like and whatever stake you want up to the maximum available from all other punters. It’s also possible to bet over the maximum stakes currently available, or bet at odds that currently aren’t available, and your bet will then remain in the system as an ‘unmatched bet’ until some other punter comes along and takes the opposite side of the bet.

There are also some new terms that you may not be familiar with, but again it really is simple and doesn’t take long to learn. Two of the most important terms and ‘backing’ and ‘laying’. Basically if you are wanting to bet that a team will win then you are ‘backing’ your selection, and if you are wanting to bet that a team will lose then you are ‘laying’ your selection. Of course at a traditional bookmaker you are always backing selections, while the bookie is always laying.

At BETDAQ you can choose to lay selections, for example you may want to bet that a particular team will NOT win a match. In this case you are laying a selection, and this is like becoming a bookie yourself – but watch out because like bookmakers, it’s possible to lose more than the actual stake you’re offering. Fortunately BETDAQ has a great system for allowing you to set either the amount you’re willing to stake or lose on a selection, so you’ll never accidentally place a bet for more than you intended.

You can either create lays that will be instantly matched against bets that other punters have already put in the system, or you can create unmatched lays that will stay in the system until punters are matched against them.

Once you’ve gained some experience with using a betting exchange you probably won’t want to go back to regular bookmakers, as it’s a lot more fun – and profitable – to bet against other punters.

BETDAQ has over 10 years experience as a leading online betting exchange and provides the highest levels of reliability. All customer funds are maintained in ‘ring-fenced’ accounts separate from the company’s funds, which means you can rest assured your money is entirely safe and secure.

Support is available through a number of methods, including email assistance and live online chat 7 days a week. There’s also telephone support, and BETDAQ has an online help centre with extensive information and instructions for all aspects of the site – learn about making the various types of bets, and instantly find answers to almost any question you might have.

Deposit Methods
: Payments are accepted through the following ;
Live
: Yes, Site Offers In-Play Live Betting
 
Licensed
: Operating license issued by the UK Gambling Commission
 
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