Over the last year I’ve heard talk of Betdaq banning winners several times. At first, I didn’t believe it…
However, it wasn’t long after that one of their employee’s confirmed it. When asked why they declined to answer, pointing toward their terms and conditions instead. You know, one of those terms where they reserve the right to close accounts without providing any reason.
The Peoples Exchange?
It’s a shame really, as I used to be a fan of Betdaq. For a while, they seemed to be making an effort to improve their exchanges liquidity. I hoped that one day, there would be enough to warrant some serious attention.
You may have seen marketing campaigns from them where they claimed to be leading “the purple revolution” or “the people’s exchange”.
If you didn’t, check out that tank picture!
Unfortunately, it’s clearly not on the agenda anymore…
As several have said; why bother in the first place?
This just shows that Betfair Exchange is the only game in town. For Betdaq to be banning winners they must be betting against exchange customers, meaning they aren’t really an exchange anymore.
Betdaq’s New Products?
Betdaq has added many casino games and even a sportsbook product to the platform over the last few years.
It’s just a shame they won’t take a bet there either…
Stake restricted after a measly £600 profit, poor show Betdaq.
Of course, this isn’t totally banning a customer who uses the Betdaq sportsbook. It’s just restricting any chance of winning so the effort is a total waste of time. I never bothered, but given past experiences, it’s likely the stake restriction would have been lowered further if I had persisted to place good value bets.
I think it’s fair to assume, the Betdaq sportsbook is probably the Ladbrokes sportsbook with a different colour skin, much like the Ladbrokes Exchange is Betdaq in red. GVC Holdings owns both of these platforms.
But Banning Winners is Normal Practice…
Banning or restricting winning accounts is common practice in the industry, it’s one of the main reasons that people use betting exchanges. Now, it appears the only exchange that allows winners is Betfair. In recent times both Matchbook and Smarkets have introduced functions that prevent long-term success too.
How any of these companies can complain about multi-accounting is beyond me, they encourage it. Short-term greed and lack of innovation will eventually create a point in history where even the most basic punter knows and accepts that these operators don’t let people win. Maybe Betdaq will backtrack at that point?
It’s frustrating to see these changes as somebody who has spent so much time on these platforms (like Lee above) only to find they’re no longer interested.
In my opinion, at the current rate, it won’t be long and they’ll just be another online casino product. Sad times.
19 thoughts on “BETDAQ Banning Winners… What About the Peoples Exchange?”
Something dodgy happening in BETDAQ. Your right in relation to no longer wanting customers on the BETDAQ Exchange. They are banning both winners and loosers. I predict the BETDAQ Exchange, as it stands, will no longer operate in the future. Must be more profitable Casino and Sportsbook. Goes without saying.. If customers are treated this way, they no longer want the business.
I wouldn’t be shocked if that happened.
Betfair exchange close accounts too. They suspend accounts then ask for all sorts of personal information and you send them and they say they need more and more and leave you in the lurch like this for months. You send everything they ask for but eventually they find some excuse to close your account.
Hi JC, please see the article about this published a couple of months back. They aren’t closing accounts for winning, it’s very different. If you pass affordability and due diligence you can get that account re-opened. It’s regulatory rather than closing winners for making a profit.
Hey Caan messaged on fb but got diverted to post here. Was just wondering if your video pack is all online downloads or a hard copy sent in the post/discs.
Cheers in advance!
Having been a Premium Charge payer on Betfair since its inception, I decided to use the extra time available during lockdown to explore three other trading platforms – Betdaq, Matchbook and Smarkets.
After 2 months on Betdaq, my account was suspended having made over £12,000 profit. Although they would not confirm the official reason fo suspension, they quoted that systematic arbitrage opportunities are not in the spirit of the exchange.
After 6 months of trading on Matchbook, my account was suspended having made over £25000. Again, there was no official reason for the suspension, but the account manager told me that I was impacting on the profits of their market makers and that they needed to protect their market makers.
I am still actively trading on Smarkets, but am on their ‘select’ commission structure, meaning that I have to pay on 3% commission on winnings or losses per each individual bet that settles. Naturally, this makes trading any market impossible and the account is purely used for making bets that will not be traded.
My overall conclusion is that despite Betfair implementing a Premium Charge for successful users, it is the only trading exchange that continually allows profitable traders to operate.
Hey, man, crazy to know there’s still such huge edge at individual level. Could we contact on Twitter @Cantoner1 ？
I would agree with that conclusion. Sad times.
Betdaq closed my exchange account a year ago and refused to tell me why. I can only assume I was making money from their seeding operation because I had fast pictures.
Were you beating them on market suspension by any chance? Understand if you don’t want to say any more…
Used Betdaq for matched betting a few times and my account was closed, not surprised.
Don’t think they want matched bettors to be honest mate, just casino users.
Never been very good anyway mate they can’t even sort out proper API tools in 15 years so why would any traders want to use them?
They closed my account after I used a sportsbook offer and signed up from OddsMonkey and have the cheek to call themselves an exchange! avoid!
Not a good company they tell you that you can have 0% commission to sign up then don’t give it
Hi Caan,
I have been making about 10-15 pounds a day average on the bloody virtual greyhound exchanges and now unable to access it ( assumed barred).
So its clearly not an exchange you are betting against them and they don’t like winners!
Betdaq would not pay out of winnings of over £1500 as self excluded from ladbrokes, i did not know at time they were same company. After fighting case they said money would go to charity.
I was doing well with my Betdaq account a few years back to the point that I was eventually stripped of XSP betting (equivalent of Betfairs BSP) on their exchange. I publicly complained about it that much on Twitter and they eventually blocked me. My account has never been the same since. Bring on Decentralised betting exchanges. https://www.bbc.co.uk/news/uk-scotland-scotland-business-59319920
I have £2500 in my BETDAQ account which they’ve froze and I think it’s due to a betfair investigation are they allowed to do that and what’s the chances of me getting my money back