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Review Date : 1st October 2001

BETDAQ - The Betting Exchange - provides an exclusive bet brokerage service to its members the world over. Its based in Dublin's International Financial Services Centre. The new company's founder and driving force is the Irish entrepreneur Dermot Desmond, whose route to multimillionaire status began in the Dublin stockbroking world more than 30 years ago. His business interests now range from Celtic FC to the Sandy Lane Hotel in Barbados and London's City Airport, and he is friends with John Magnier and JP McManus, leading Irish racing personalities and Manchester United shareholders. There has, as yet, been no public confirmation that McManus is directly involved in Betdaq - the identities of trading members will remain secret - but the renowned gambler is exactly the kind of figure the exchange has been set up to appeal to.

The minimum bet on the Exchange is US$500 to make a new offer or US$100 to accept an existing one. Dollars have been chosen as the medium of the Exchange to accommodate the international nature of its membership. BETDAQ has lodged a multi-million dollar bond with a leading financial institution to guarantee its members funds unconditionally.

The BETDAQ service has been optimised for a number of the latest mobile telephone and PDA devices, including the Motorola T280 and Compaq Ipaq. It is well positioned as an effective application on existing and future mobile technologies.

Betdaq's founders have high expectations for next summer's World Cup in Japan and South Korea, with the prospect of some epic transcontinental duels in cyberspace - the bets emanating from wired-up sports bars in Macao or Kuala Lumpur and Betdaq reaping a 1% commission on every trade.

Betdaq, the Dublin-based betting exchange, aims to have 10,000 punters and a turnover of $1 billion (£690m) by 2005. Betdaq has lodged a $10m bond to guarantee its members' funds unconditionally.

The Upside
1% commission. Maximum 7% spread on all markets. Large wagers taken.

ITechnically the site is a bit iffy. With a standard screen size and 800x600 resolution some parts of the page fall of th bottom of the screen without access. Also, click on the edges of the frames and they move all over the place, getting them back is impossible. Also some screens of information have no Back buttons when others do.
Summary Rating : 8/10 no enticements
Cut : 1% on returns Max Odds : Any Limits : min opening $500/bet $100
Based : Dublin Tel : ??
Aidan Donnelly - Managing Director
David Gilbert - Operations Manager
Kieran Spellman - Chief Financial Officer
BETDAQ is the trading entity of Global Betting Exchange Limited. The company is registered in Ireland, company number 325422. Its registered office is at IFSC House, International Financial Services Centre, Customs House Quay, Dublin 1, Ireland.
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