Acquisition sees two of the longest-established names in exchange betting come together
Matchbook is expanding its betting exchange capabilities in the United Kingdom with the acquisition of rival Betdaq.
Founded by Dermot Desmond in 2000, Betdaq was among the earliest betting exchanges and operates under licences in the UK and Ireland.
The existing Betdaq service, operated by EPS, will remain open for trading until 21 October to allow an orderly transition, with customer accounts open for withdrawals until 4 November.
“Betdaq and Matchbook grew up proving the same idea – that bettors get a better deal when prices are made by a market rather than a margin,” said Matchbook CEO Ronan McDonagh. “A quarter of a century on, that idea is winning: exchanges and prediction markets are bringing peer-to-peer pricing to new audiences around the world, and this acquisition deepens the pool at the heart of everything we build.
“Our first priority through this transition is Betdaq’s customers: their funds are safe, their options are clear, and in one combined pool they should find better prices and deeper liquidity than either exchange could offer alone. Everything we are doing – this deal included – is about making the exchange first choice.”
Matchbook has operated exchange markets for more than twenty years and has expanded in recent years through easyBet, its partnership with easyGroup, and ADI PredictStreet, its entry into prediction markets.