By creating an account with Betdaq you are entitled to a €10 free bet which can increase your betting bank. To qualify for this free bet, you must enter the promotional code BDQ10 at the time of registration. You then simply need to place your first betting exchange bet of at least €10 with odds of 2.0 (Evens) or greater and Betdaq will reward that with a brilliant €10 free bet.
Betdaq are a sports betting exchange and they were founded by Irish businessman Dermot Desmond in 2000, they have since established themselves as the second largest betting exchange in the world and currently have 7% market share. Their headquarters is located in Dublin where they now employ over 200 people. In February 2013 Betdaq were sold to Ladbrokes for €30million and they now claim to handle over €95million worth of bets on a weekly basis around the world. They currently have a number of sponsorship agreements as Betdaq attempt to increase their customer base and in 2011 they penned a deal with Kempton Race Course which allows Betdaq account holders to enter Kempton for free on selected dates, this deal is still in place today. Finally Betdaq are licensed by the Government of Gibraltar and are regulated by the Gibraltar Gambling Commissioner, thus ensuring that betting with Betdaq will be safe and secure.
Betting exchange's work slightly differently to your regular bookmaker, they allow sports fans to come together and bet against each other. On a betting exchange you can set your own prices for other punters to back which is also known as ‘laying', you are effectively acting as a bookmaker. However if laying isn't for you don't worry because Betdaq can be used just like a traditional bookmaker by backing the prices set by other users.
So how do Betdaq make their money you ask? All betting exchanges charge commission based on the profit made from an event. Betdaq charge 3% commission on winnings, so let's say you made €100 profit from a football match, Betdaq would take €3 of that. Betdaq's commission rate is considerably lower than their main competitors Betfair who charge 5% commission. Unlike Betfair, Betdaq offer reduced commission rates on many sporting events, for example Betdaq users pay 0% on all markets on English Premier League matches that kick off on Saturdays at 12:45pm throughout the 2014/15 season.
By creating a Betdaq account you will have immediate access to superb odds due to the nature of betting exchanges, getting the best odds is vitally important if you want to make a profit. Another feature which can improve your profitability is the ‘cash out' feature that Betdaq have recently added to their website, this gives you the opportunity to exit any positions you may have during a sporting event, thus allowing you to take your winnings or cut your losses by the click of a button.
The cash out features is also available on the Betdaq mobile application which can be downloaded by Apple, Android and Blackberry users. The application is very easy to use and navigating between different sports is a hassle free experience. It's helpful if you want to place a bet when you're away from your computer and it's certainly a worthy back up if your computer/laptop ever fails.
Finally the customer service at Betdaq is very good, they can be contacted via telephone and email. You can usually expect a very quick response to any queries you may have, although unlike many bookmakers nowadays they don't have a live chat service however being the innovative company they are I'd expect them to add this feature in the near future.