Matchbook has completed its takeover of rival operator Betdaq, strengthening its position as one of the UK's foremost betting exchanges. The acquisition is designed to enhance market liquidity, with the company expecting customers to benefit from tighter spreads, larger bets being matched, and improved prices.
Chief Executive's Statement
Matchbook chief executive Ronan McDonagh said: "Betdaq and Matchbook grew up proving the same idea – that bettors get a better deal when prices are made by a market rather than a margin."
He added: "A quarter of a century on, that idea is winning: exchanges and prediction markets are bringing peer-to-peer pricing to new audiences around the world, and this acquisition deepens the pool at the heart of everything we build."
Transition Details for Betdaq Customers
Betdaq, founded by Dermot Desmond in 2000, has been one of the betting industry's longest-running exchanges. Its existing service, operated by EPS Ltd, will remain open for trading until October 21, with customers able to withdraw funds until November 4. Matchbook said customer funds would remain protected throughout the transition, with information available to Betdaq users about key dates and their options.
McDonagh added that the company's ambition was to make exchange betting the first choice for bettors.
Market Context and Expansion
The takeover comes amid growing interest in peer-to-peer betting sites and prediction markets, particularly in the United States, where platforms including Kalshi and Polymarket have attracted significant attention. Matchbook, established in 2004, has made several moves to capitalise on the trend beyond traditional exchange betting.
In 2024, it partnered with easyGroup to launch EasyBet. The company has also expanded into casino sites and prediction markets through a partnership with ADI PredictStreet around the 2026 FIFA World Cup. The acquisition of Betdaq brings another established brand into Matchbook's operation as it looks to build on the growing interest in market-based betting.
