Matchbook completes takeover of betting exchange Betdaq

Matchbook has completed an acquisition of rival betting exchange Betdaq for an undisclosed sum, according to EGR.

The companies have framed the deal as a way of merging Betdaq's long-standing customer base with Matchbook's pricing and technology, creating what Matchbook described as a "deeper pool" of liquidity that should produce tighter spreads and better prices for users of both platforms.

Betdaq has operated for 25 years, having been founded by Irish entrepreneur Dermot Desmond and run out of Dublin through parent company Global Betting Exchange, with the site itself launching a year after the company was set up. It was for a time the leading challenger to the Betfair Exchange, before Matchbook entered the market in 2004 and Smarkets followed in 2008.

Betdaq has changed hands before. Ladbrokes bought the exchange in 2013 for €30m and later built a co-branded exchange product sharing its liquidity. Ladbrokes Coral was subsequently taken over by GVC in 2018, which became Entain in 2020. Entain then sold Betdaq back to Desmond in 2021, for a price EGR reported was rumoured to be well below the sum Ladbrokes had originally paid.

The platform, run by EPS Ltd, is winding down under the new ownership. Trading on Betdaq continues until 21 October, with customers given until 4 November to withdraw funds from their accounts. EGR reported that notifications about the closure went out to Betdaq customers on 14 October, and that from 5 November the site will carry a closure notice along with support information. Matchbook's own FAQ page states that Betdaq customers will need to set up a Matchbook account to continue trading.

Matchbook chief executive Ronan McDonagh said Betdaq and Matchbook had "grew up proving the same idea – that bettors get a better deal when prices are made by a market rather than a margin," adding that the pair's shared philosophy is now "winning" as exchanges and prediction markets reach new audiences globally.

McDonagh said the priority during the transition was protecting Betdaq customers, stating that "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." He said the acquisition formed part of a broader effort to make the exchange product the "first choice" for bettors.

Matchbook, operated by Triplebet, has been building out a B2B arm in recent years, including the easyBet tie-up with easyGroup, the owner of easyJet, and a prediction markets push through ADI PredictStreet launched ahead of the World Cup. The company also soft-launched a UK event contracts product at the end of 2025 using percentage-based pricing rather than decimal odds.

Other exchanges are moving in a similar direction. Flutter-owned Betfair quietly introduced a version of its exchange styled like a prediction market in April, while Smarkets is still waiting on the licences it needs to enter the US.

The Betdaq deal lands as UK-licensed operators absorb a near-doubling of remote gaming duty to 40%, and as remote betting duty — which falls more heavily on exchanges — is due to rise from 15% to 25% next April. EGR noted that Matchbook may see an opening to gain ground given that liquidity on Betfair has fallen notably in recent years.