BETDAQ is the trading name of Global Betting Exchange Alderney Limited (GBEA). GBEA is 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. Nowadays BETDAQ is one of the world's leading betting exchanges with in excess of £75m worth of bets from members and brokerages around the world each week
At BETDAQ you will find a wide range of sports markets including UK and US horse racing .
BETDAQ may look different to a normal betting service but it is very easy to master, an exchange is all about BACKING and LAYING
If you are BACKING then you are in effect betting in the normal way for an outcome of say a horse, competitor or sporting team to WIN.
eg Soccer game, Manchester United v Manchester City , you think Manchester City will WIN at odds of 2.50
You are BACKING Manchester City to win with £100 at odds of 2.50 you stand to gain a return of £250, less commission (see below). This is made up of your stake of £100 plus winnings of £150
If you are LAYING then you are in effect betting AGAINST the outcome of say a horse, competitor or sporting team to WIN
In the above example if you do not think Manchester City will win you might be happy to lay them at the same odds of 2.50. To win £100 laying at those odds you would have to put up £150 of a potential loss.
Backing and Laying is the basic concept of an exchange, there are many options which are easy to grasp and plenty of easily understood guides on the BETDAQ website so you will soon master the exchange methods.
Betting Exchange Commissions
BETDAQ operates a layered commission structure whereby the more you bet, the lower your rate will be. Commission is charged on your net winnings from any single market. You do not pay any commission on losing bets.
The standard commission rate is 5 per cent, but you will be able to bring that down to as low as 2 per cent depending on the volume of bets you have matched. You will gain one BETDAQ commission point for each £25, $40 or €40 amount won or lost across all markets.
At the end of each week (0400 Hrs Monday) the points you have earned in the previous seven days will be added to 85% of your total carried forward from previous use to give a figure that determines your rate for the next seven days.
BETDAQ also offers the traditional bookmaker style via their 1Bet interface. In addition BETDAQ have a gambling games section where you can play all sorts of gambling games and slots.