Ladbrokes buy Betdaq

Thu 24th Jan 2013, 09:27

Ladbrokes has acquired the Dermot Desmond-controlled betting business Betdaq for €30 million.

As of the deal, Ladbrokes will also acquire a 10 per cent stake in TBH Guernsey Ltd, the technology provider to Betdaq for €4 million.

The deal is expected to be completed next month. The deal marks Ladbrokes's first foray into the betting exchange market.

The exchanges offer punters a chance to bet against each other in addition to using the odds set by the bookmaker.

There had been ongoing speculation in the betting industry for the last year that Ladbrokes was interested in buying either Betdaq or its betting exchange technology.

Ladbrokes, Britain second largest bookmaker, has been looking to halt the slide in its share of the online betting market, where it has lost ground to rivals such as Paddy Power, William Hill and Betfair.

Might Bite To Prove His Worth Next Season

There is not much attention given to national hunt racing in the summer months, by punters or by the media. It is, of course, understandable given that our attention is focused on the flat season: the action at Royal Ascot, the Classics and the rest of the elements that define the summer racing season. Some punters might have a dabble at an ante post bet for Cheltenham next year, but by and large we forget about it until the autumn.