Betdaq Welcome Offer
Betdaq have decided to adopt a totally unique approach to their welcome offer. Rather than giving you a free bet or a bonus on your first deposit(s), they’ve decided to give you 30 days of 0% commission when you first sign up. Let’s remind ourselves of what that means.
Betdaq is a betting exchange like Betfair, not a Sportsbook. That means that you’re betting against other customers rather than against the house. Every time you have a winning bet, you pay a commission of between 2 and 5% commission on your winnings. The exact amount depends on how often you use Betdaq and how much money you turn over. The more you play, the less commission you pay but when you first start out you’ll be paying the full 5% commission. So if you were to win exactly 100 pounds on a bet, you’d pay Betdaq 5 pounds for using their services in order to win that money.
Betdaq’s welcome offer means that you get to keep all your winnings for the first 30 days as a customer without having to pay anything at all. How good an offer is it?
Well, that obviously depends. If you only play a few times during your first month and/or for small amounts you probably won’t save that much. But if you have a fair few decent wins, it all starts to add up.
As an example, let’s say you managed to win 750 pounds in your first 30 days. By avoiding commission at the maximum rate, you would have saved yourself 38.50 pounds.
So that’s why you need to remember to enter the bonus code when you sign up.
Other Betdaq promos
0% commission on all tennis markets
This is an excellent offer for tennis betting fans. Not only do you benefit from better odds than what you’d get at a regular Sportsbook but you don’t pay any commission on winnings. Although you should be aware that won’t be the case if the bets are part of a Multiple (acca/accumulator if you prefer), if it’s a special enhanced odds market or you’re using an API (trading software tool).
It does however apply to both pre-match and in-play markets and is obviously a ploy to get new customers on board by having an attractive tennis offer and then benefiting from the commission they pay when playing on other sports.
Either way, make the most of it while it lasts.
0% commission on 12.30 kick-off
Another generous offer. There’s a good Premier League match almost every Saturday at 12.30 and whatever you win on it, is also commission-free.
If you happen to secure some big wins, this could save you some serious money in commission.
There’s absolutely nothing wrong with Betdaq in principle. A betting exchange is a fine way to go about your sports betting for a number of reasons, including:
- Securing better odds than you would at a Sportsbook, even after applying commission.
- Being able to trade all manner of matches and being able to secure a ‘green book’ where you guarantee yourself a profit irrespective of the final outcome.
- The ability to lay in addition to backing, meaning a new dimension to how you go about sports betting.
The caveat to the ‘there’s nothing wrong with Betdaq’ is…but it’s not Betfair.
Ever since the Irish-based betting exchange opened for business, the daunting figure of Betfair has loomed large and been a great barrier to Betdaq’s success. Because Betfair came a little before and customers preferred it to Betdaq, it ended up having the monopoly of the market. The more customers there are on board, the more liquidity in the markets meaning that the odds on offer are better through sheer numbers and that you can get bigger bets matched.
And of course it then becomes a vicious cycle. A new Exchange customer will prefer the greater liquidity available at Betfair and will then add greater liquidity in markets themselves down the line.
But as we started by saying, Betdaq is a good product in its own right. Aside from the lower levels of liquidity, the 0% commission on tennis markets is extremely attractive to those who do so for a living and on big football matches, cricket games and horse races you can get very similar odds to what you would on its more illustrious rival.
And in some cases, because of the way that commission is worked out, you may well end up paying less on Betdaq than you would at ‘the other one’.
Visa, Visa Electron, Mastercard, Paypal, Skrill and Neteller are all available as methods of depositing money with Betdaq.
In addition to the somewhat lengthy delays (that seem to affect the whole industry these days) regarding getting your account verified so that you can withdraw your money, there are also some unnecessary delays affecting the settlement of markets, which is always annoying for customers waiting to get paid out on their bets.
This admittedly isn’t a Customer Service issue but rather a Market Operations problem but that’s of little consolation to punters.
There has been some positive feedback regarding Customer Service but the general consensus is that they’re a little under-staffed compared to some of their competitors and that we, the customer, are the ones who suffer.
Without meaning to sound like a broken record, it’s not so easy to think of areas of strength that Betdaq can boast compared to Betfair. With the possible exception of the 0% commission on tennis and early Saturday kick-offs and the absence of a premium charge applied to big-hitting customers who turn over tens of thousands of pounds every month.
The optimum solution therefore is to have accounts with both. Use Betfair most of the time because of the increased liquidity but keep an eye on Betdaq because very occasionally you might be able to get prices a couple of ticks higher if you get lucky.
And of course, if you’re a seasoned betting exchange user who bets in big amounts, you can always take advantage of the 0% commission offer for the first 30 days and save yourself some money that way.