Last Updated on January 10, 2013 by Sports Trading Life
Is it worth having an account with Betdaq?
It goes without saying that most betting exchange traders use Betfair as their main account but you should never have all your eggs in the one basket. We often get emails from new traders asking if it is worth opening an account with Betdaq since most other traders are all using Betfair these days.
Well here are a few reasons why you should definitely have a Betdaq account opened and also funded with a bit of cash also.
If you haven’t already done so then you should definitely get one opened right now. Click and use this link to go to Betdaq in order to get the £30 bonus offer and then use the code ALLBDQ04 when registering.
With Betfair you pay 5% commission on your winnings but with Betdaq you only pay 3%. With Betfair you obviously can lower that commission rate but for most getting it as low as 4% is the most realistic you can get and will require quite a fair bit of turnover on your account.
It is often said that the liquidity on Betdaq is poor when compared to Betfair and this is true but it does depend on the markets. The markets on the Premier League football matches on Betdaq have more then enough liquidity so if you do your majority of the punting on the football then perhaps just use Betdaq and enjoy the lower commission? If you trade sports like Tennis or USA sports then the liquidity is not great and sticking with Betfair is the best way to go in this case.
No Premium Charges
If you trade on Betfair then eventually you will have to pay their premium charge and the Super premium charge also once you hit certain profit levels. Once again, if you do your punting on the football markets then Betdaq is just as good and if you do make vast profits you wont get the kick in the teeth from the premium charge.
If you are someone that trades sports such as football, tennis and cricket then perhaps moving all your football trading activity over to Betdaq whilst keeping your other sports on Betfair could be a good way of delaying the onset of the premium charge. Remember, it is possible to open and use a Betdaq account alongside your Betfair account as you do not have to be exclusive to either exchange.
If Betfair Crashes
If you have used Betfair for any sort of length of time you will know that they are very prone to crashing and going offline for long periods and this can be crucial for those trading. If you have a big sum of money tied up in a trade then it can be a tense moment when you wait for Betfair to sort themselves out. There has been times when Betfair have gone down for several hours at a time so having an alternative lined up is always a good option.
Having a Betdaq account has saved me on a few occassions and while everyone is freaking out about Betfair being down I just head over to Betdaq and exit my position on there. This is not always possible depending on the sport you are involved in but its a better option then having nothing!
Competition is Good!
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If an exchange like Betdaq was to become more popular then Betfair might rethink some of their marketing strategies and this would only be a good thing for the regular punter like me and you. The fact is that it really is down to the punters to vote with their feet and increase their activity on Betdaq, or any other exchange otherwise Betfair will never face any sort of realistic competition and the premium charges will probably get worse!
Free £30 Bet
Another reason to get an account is the fact you currently get a free £30 bet once signed up. The clever traders among us will know this is as good as money in the bank as you can match your £30 free bet on Betfair and win either way.
So you would place a £30 Back bet on Betdaq at odds higher then 2. The lay the same bet on Betfair to win back your £30. Then you get a free bet of £30 and you do the same thing once again and the bet will either win on Betdaq or win on Betfair. A nice and easy £25+ after commission for you!
If you are outside of the UK and Ireland then this bonus offer is increased to €200!
Click and use this link to go to Betdaq in order to get the £30 bonus offer and then use the code ALLBDQ04 when registering.
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