BetFair vs. Betdaq
Ladbrokes who are one of the largest land based betting companies in the UK have recently purchased the Betdaq betting exchange, and not wishing to see their investment simply stagnate they have gone of a major promotional push in the hope of seeing Betdaq become the most used betting exchange online.
BetFair who have been offering punters the chance to bet against each other for years on their peer to peer betting exchange have mastered the art of this new technology and have also been the number one choice for punters, however they have got some serious competition with Ladbrokes now seeking to seize a much larger market share with a range of special promotions on offer to anyone choosing to use Betdaq.
They are looking to offer a large range of free wagers to customers using the Betdaq betting exchange for the first time, plus to entice people to move over to Betdaq a commission free period is also being offered. To keep customers gambling on the site they are also vowing to keep their commission rates as low as possible for the foreseeable future.
Many punters are still unfamiliar with how a betting exchange works, however Ladbrokes intend to introduce this exciting betting medium to their punters via a large marketing push, which will probably see point of sale material being available in their betting offices.
If you have never come across a betting exchange before then you really will have been missing out on an exciting new way to bet. A betting exchange lets you place your wagers just as you would at a betting site or betting shop however there are many advantages of using a betting exchange as you can ask for and often get odds which are higher than those offered at betting offices.
Due to you betting against fellow punters instead of betting against a bookmaker then you will also be able to take the opposing view on any betting opportunity and as such Betdaq and BetFair let you for all intents and purposes become a bookmaker.
You can offer your own odds on any sporting fixture and then punters wishing to make your odds will simply put up the money to place that bet and you need to put up the money to cover that bet and then when the sporting fixture has ended the betting exchange will settle the bet and as such no risk of non payment is possible.
For a complete step by step guide on how to use a betting exchange simply visit either the Betdaq site or the BetFair site and follow the links for the help section of the respective site.