BETDAQ

BETDAQ is the trading name of Global Betting Exchange Alderney Limited (GBEA), whose registered office is Millennium House, Ollivier Street, St Anne, Alderney, GY9 3TD. GBEA was originally 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. GBEA was acquired by Ladbrokes PLC in February 2013. BETDAQ is the second largest betting exchange operator with approximately 7% market share. BETDAQ allows people with different opinions on the likely outcome of an event to bet against each other. A betting exchange allows people to bet against each other rather than against a bookmaker.

BETDAQ was founded in 2000 by leading Irish businessman Dermot Desmond and started trading in September 2001. Its headquarters are located in the International Financial Services Centre in Dublin, and it employs over 200 people. In 2013 BETDAQ was sold to Ladbrokes for €30m. On 1 November 2016, Ladbrokes finalised its 18 month long merger with Gala Coral and the new £2.3 billion combined entity will now be known as the Ladbrokes Coral Group becoming the UK’s biggest retail bookmaker.

BETDAQ offers betting markets on a range of international sporting and other events and claims to handle in excess of £75M worth of bets every week. BETDAQ brings together bettors from around the world and allows gamblers to bet against one another, rather than using the odds set by a bookmaker. BETDAQ charges a commission on all winning bets, which is set at 5 percent of the net winnings for most markets, this can vary depending on the amount of commission that is paid.

Since BETDAQ was launched in 2000 it has become the second largest online betting exchange company in the UK and the largest betting exchange technology provider in the world. BETDAQ operate a number of sports betting brokerages and websites from a central exchange hub providing partners with market pricing for sports wagering and risk management. The central Global Betting Exchange Alderney (GBEA) hub matches in excess of £75m worth of bets from members and brokerages around the world each week to a value in excess of $7bn annually. It has a team of 50 IT developers and has invested in excess of $30m in the platform to date. In early 2011, BETDAQ finalised a deal for technology software from GTS, a CryptoLogic Inc company, and soft launched BETDAQ Games which it integrated into the network.