Betdaq slashes commission rates in bid for market share
Exchange platform hails “significant backing” from parent company Ladbrokes Coral as it launches new growth campaign
Betdaq has today introduced a 2% flat-rate commission for all punters as part of a new campaign to boost the Ladbrokes Coral-owned exchange’s profile.
The betting exchange brand said the reduction from the previous 5% base rate was a permanent change rather than a short-term promotion and was aimed at growing its player-base and market share.
“We have listened to our customers and are proud to be launching the #ChangingForTheBettor campaign” Shane McLaughlin, director of exchange at Ladbrokes Coral, said.
“Furthermore, we are excited that our 2% commission policy is part of a wider, long-term commitment by BETDAQ to reward our customers and increase their enjoyment.”
McLaughlin said Betdaq was planning a “series of additional improvements” to the exchange as it rolls out the #ChangingForTheBettor campaign.
“We have received significant backing from the Ladbrokes Coral Group and together we are focussed on providing the best betting exchange platform for the world’s most sophisticated players,” McLaughlin added.
“We are very excited about the gains the Betdaq brand can make in the coming months with our new competitive commission structure and focus on product development, better pricing and increased liquidity.”
Shane McLaughlin, director of exchange at Ladbrokes Coral
The new commission signifies an increasingly competitive exchange market with Betfair’s main rivals all now offering significantly lower base rates, including Smarkets at 2% of profits, and Matchbook at less than 1% of certain bets.
All three firms have been investing in recent months, with Smarkets agreeing to sponsor 240 Jockey Club races earlier in January, while Matchbook has pledged to increase marketing spend by 300% in 2018.
The increased investment also reflects a perceived vulnerability in the Betfair Exchange, which saw revenues dip 5% in Q3 and has suffered some significant downtime, prompting analysts to question its dominance.
Betdaq noted in its announcement this morning it had avoided an unplanned outage for more than 400 days.