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.

Will there be another Irish winner at Aintree?

A lot has been said recently about the fact that the Irish contingent at Cheltenham tend to stoke up the fires of Anglo-Irish needle with their flag waving and chest beating due to our incredible success in recent years. As pointed out previously, this is nothing more than a bit of harmless fun that some folk on both sides of the Irish Sea take a little too seriously.