Ladbrokes buys Betdaq
Major, but not totally unexpected, news in the betting exchange world this morning.
I really felt that exchanges could change everything when I first started using them, but lately it almost felt like they were regressing to a standard betting model! I am hopeful that this news will breath new life into the betting exchange concept and allow things to start moving forward again in a more positive manner than we have been used to in recent years. While we are on Betdaq, don’t forget there is a fully functional free version of Bet Angel still available for Betdaq – www.betdaqangel.com
Here are the comments from Ladbrokes about what they plan to do :-
Commenting on the acquisition, Richard Glynn, Ladbrokes’ chief executive, said:
“The Betdaq exchange is a well-regarded and well invested business and a close strategic fit for Ladbrokes. Whilst the main focus of our digital growth strategy continues to progress well, this bolt on acquisition provides us with an exciting opportunity to grow our share of wallet through the creation of a differentiated and comprehensive sports betting proposition for customers and also supports our drive for improved liability management.”
Rationale
Combines Ladbrokes’ global brand and materially improved sportsbook with a high quality, scalable betting exchange to create the most comprehensive sports betting service in the market.
Accelerates Ladbrokes’ strategy to grow digital revenues through investment in proprietary technology and delivery of best of breed products, providing a differentiated experience to customers.
Enables Ladbrokes to address the full spectrum of the broader sports betting market and access a greater share of existing and future customers’ betting expenditure. A large proportion of Ladbrokes’ customers already use a betting exchange.
Operations and Product
Betdaq has been successfully developed using high quality technology by a dedicated team, with a long history in the exchange market. It is capable of supporting significantly higher betting volumes than are being transacted today. Ladbrokes will work with GBEA and TBHG to further enhance the competitiveness of the exchange, focusing initially on growing liquidity and event coverage as well as growing the range and depth of markets offered to both recreational and sophisticated customers.
Category: Betdaq, Industry news
