Matchbook has completed its acquisition of Betdaq for an undisclosed sum. Betdaq will keep trading until 21 October, with accounts open for withdrawals until 4 November — room for an orderly handover.
The deal also takes in Racecourse Data Technologies (RDT), which supplies hardware, betting software and technical support to on-course bookmakers and lets them hedge positions through Betdaq.
Betdaq was founded by Dermot Desmond in 2000, one of the first betting exchanges. He sold it to Ladbrokes in 2013 for €30 million ($34 million) and bought it back eight years later from Ladbrokes owner Entain. Matchbook has been running since 2004; its other projects include easyBet, built with Sir Stelios Haji-Ioannou's easyGroup, and the prediction markets platform ADI PredictStreet.
CEO Ronan McDonagh said both exchanges are built on market prices for players rather than bookmaker margin, an idea he argues has won out after a quarter of a century. Peer-to-peer pricing is bringing that model to a new global audience, he said, and the deal deepens the pool. The combined liquidity should mean better prices. The priority is a smooth transition. 'Everything we do, including this deal, is aimed at making the exchange the first choice,' he said. Addressing on-course bookmakers through the United Council of Racecourse Bookmakers site, he acknowledged concerns about disruption to trading and hedging during the changeover. A bigger pool should improve liquidity and prices on the racecourse market, and the company promises a fast move to Matchbook with minimal disruption and personal support for those who join.
