Matchbook’s acquisition of Betdaq: trading ends October 21
Customers of Betdaq have until October 21 to trade on the exchange and until November 4 to withdraw their funds. Matchbook announced on October 14 that it had completed its acquisition of Betdaq. Financial terms were not disclosed.
Betdaq’s exchange, operated by EPS Ltd, will close when the transition period ends. Its accounts will not move to Matchbook automatically. Anyone who wants to use Matchbook must register a separate account with the exchange, which is run by Triplebet Limited. Matchbook said customer funds remain protected under the operators’ respective regulatory obligations.
Matchbook expects narrower spreads and larger matched bets
Matchbook said it expects the combined exchange to produce narrower spreads and let customers match larger bets at their preferred prices. Exchange customers take opposing sides of a wager, so the money other users have available affects whether a bet can be matched at a given price and size.
The company’s CEO, Ronan McDonagh, put Betdaq’s customers first in the transition. “Our first priority through this transition is Betdaq’s customers: their funds are safe, their options are clear,” McDonagh said.
He also pointed to growing interest in the exchange model as prediction markets expand in the United States.
In an opinion piece published by EGR on October 15, Enda Kendrick, who has held senior roles at both companies, said on-course bookmakers were the main motivation for the deal. He said the “clear winner” will be Matchbook’s market makers.
Ladbrokes bought Betdaq in 2013 for €30 million ($34 million), and founder Dermot Desmond, an Irish billionaire, repurchased the platform in 2021 for an undisclosed amount. Desmond launched Betdaq in 2000, while Matchbook was founded in 2004. Betdaq was one of the early challengers to Betfair, which Flutter now operates and which remains the leading exchange brand in the UK.
Matchbook has been widening its business beyond the core exchange. It launched easyBet with easyGroup in 2024 and entered prediction markets through a partnership with ADI PredictStreet ahead of the 2026 FIFA World Cup.
Matchbook is licensed and regulated by the UK Gambling Commission. Major U.S. prediction market operators fall under the Commodity Futures Trading Commission (CFTC), whose oversight is the subject of ongoing legal battles.
