Writing about betting exchanges is so easy. There’s so much to talk about. Merging stock market principles of supply and demand with sports betting has been a master stroke…. a innovative idea that has added another dimension to sports betting. Here we are going to continue our ‘battle of the betting exchanges’ series. In the previous posts “Betfair.com or Betdaq.com which is better?” and “Who has the best odds, Betfair or Betdaq?” we compared the two most used betting exchanges available.
After reading those posts again this week they just seem to be a little biased towards Betfair. The goal of Let’s Compare Bets is to compare betting in an unbiased way so it’s time for an update. First we’ll look at 5 ways that Betfair is better than Betdaq. To keep the argument balanced we’ll look at 5 ways that Betdaq is better than Betfair. Can’t say fairer than that now can we.
Update Betfair has started annoying it’s users by imposing a harse 60% commission on the top winners. Now it is only people earning more than £250,000 per year. You might think well, does that really matter? To be honest you’ll be very lucky to get to that amount of profit quickly, so, out opinion is that no it does’t matter!
1. Betfair has more liquidity than Betdaq. Betfair has more users, increasing the chance that bets will be matched by other members.
2. On average Betfair seems to have better odds than Betdaq. Again this is probably down to the number of users. More users and more opinions of what the odds should be.
3. Users of Betfair have found that their bets have been settled faster on Betfair than on Betdaq. But this is only the opinion of a couple of users (stated on the Betfair and Betdaq forums). Others have mentioned that some markets are settled much faster than others.
4. Betfair has more reliable ‘in play’ markets. You’ve guessed it, probably down to the liquidity issue with Betdaq. In popular markets liquidity is not so much of a problem on Betdaq.
5. Just in case it hasn’t sunk in yet Betfair does have more users than Betdaq which results in there being more liquidity on Betfair. zzzZZZZZ
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It’s all been a bit one sided so far. Let’s look at 5 ways that Betdaq is better than Betfair.
1. Betdaq will be working harder to please it’s users. They are the underdoq and will work harder to compete with Betfair.
2. Betdaq offers one lick betting as standard. Whereas, betting software is needed for one click betting on Betfair.
3. Betdaq has lower commissions than Betfair. For example, 2% on horse racing. Although, Betfair offer a points system which is used to work out a discount off their commission. The Betfair commission is currently 5%. It is possible to reduce this to 2% if you use the website a lot.
4. Betdaq has a couple of features that Betfair doesn’t like the win/way x amount calculator.
5. Multiple betting on Betdaq is a lot easier than on Betfair. What’s more Betdaq offer a wider range of multiple bets on horse racing and football / soccer.
There we go that’s a fairer comparison of these betting exchanges. But wait, there’s a sixth benefit of Betdaq that Betfair doesn’t offer. Ok, so it’s not so fair any longer but we just had to include it.
6. This one relates to betting software. After using a betting exchange for a while users often move to trading on the exchange. Both Betdaq and Betfair have opened their technology to allow software developers to create trading software. Unlike Betfair Betdaq offer trading software for free from the website. It is for professional traders who want one click betting, dutching or sports arbitrage betting, and different market views. This may be because there is a better choice of software for Betfair than Betdaq – but that’s a topic for another day. Often traders need to pay for the premium features offered by betting software, not so with the free Betdaq trading software.
Due to the longevity of Betfair there are more Betfair traders making a living from Betfair. As such you do tend to find more traders turned teachers than on Betdaq. The internet is awash with self proclaimed experts and well polished literature. There are a few which offer some valuable coaching. Take the following link as an example of a Betfair trader who has decided to teach his techniques and how to use the tools of the trade. The best quality coaching manuals come with video guides and email support to help the newest of Betfair users.
So 6 benefits of Betfair and 6 benefits of Betdaq. Betdaq will be working hard to take market share from Betfair. It will be interesting to see what they’ll do in order to hot up the competition. At the time of going to press Betdaq is not offering a free bet where as Betfair is offering a matched bet. That means that if you lose your first bets you get your money back.