This gap in class was made worse by Betdaq’s previous commission structure, which was both confusing and convoluted. Starting at 5% at working its way down through a complicated series of spending tiers. Ultimately reaching the 2% mark, however only after a huge amount of money had been put through them.
Ultimately, something needed to change for Betdaq in order to maintain a competitive exchange market, with numerous options open to customers. Their response was to the point and, we believe, an effective step in the right direction. They’ve officially reduced their commission to 2% - no hoops to jump through, just a flat 2%.
From a Heads&Heads perspective this was met with a sigh of relief. We don’t know exactly what Betdaq’s profit margins are but we’re confident that a comparison with either Betfair or Smarkets would not be a flattering one. Some, even questioned how long Betdaq could keep its head above water. So, the news that they are actively attempting to right the ship is a positive one indeed.
In fact, for matched bettors, it is more than positive – it is great. The last thing we want is either Betfair or Smarkets gaining a monopoly. Such an outcome would be terrible for consumers and allow them to set whatever commission rate they think they can get away with – they are profit driven businesses after all. So, having a competitive Betdaq ensures that these three will continue to lock horns with promotional pushes for years to come. This, of course, will be to our benefit.
Betdaq regularly can be found on the Oddsmatching Software as having some of the top odds matches. Now, taking advantage of these is actually viable, as the 2% commission somewhat makes up for the woeful user experience on their site. The latter is something that Betdaq desperately need to sort if they’re to turn their competitive 2% into actual, long term paying customers.
In fairness, they have recently made some improvements but it still falls well short of the benchmarks set by Betfair and Smarkets – particularly the latter. Nevertheless, one cannot deny it shows intent and that should be roundly encouraged. Betting Exchanges are the closest thing to industry friends that matched bettors will ever likely have, so we must celebrate these attempts at self-improvement by Betdaq.
So, here’s hoping 2018 brings further improvements for Betdaq and keeps the other two on their toes!