Matchbook Acquires Rival Betting Exchange Betdaq to Boost Liquidity

Matchbook has completed the acquisition of rival peer-to-peer operator Betdaq, uniting two of the industry’s longest-running betting exchange brands under a single umbrella.

The acquisition combines Matchbook, which was founded in 2004, with Betdaq, an exchange founded by Irish billionaire Dermot Desmond in 2000.

Financial terms of the transaction were not disclosed.

The companies said the combination would create a deeper pool of liquidity, which could allow customers to place larger bets at more competitive prices.

Unlike traditional sportsbooks, betting exchanges allow customers to bet against one another. Users can both back and lay outcomes, with prices determined by other traders.

Matchbook CEO Ronan McDonagh said the acquisition reflects growing interest in the exchange model, particularly as prediction markets expand in the United States.

“Betdaq and Matchbook grew up proving the same idea—that bettors get a better deal when prices are made by a market rather than a margin,” McDonagh said.

“A quarter of a century on, that idea is winning: exchanges and prediction markets are bringing peer-to-peer pricing to new audiences around the world, and this acquisition deepens the pool at the heart of everything we build,” he added.

Betdaq to Close Trading on October 21

Betdaq’s existing exchange will remain available for trading until October 21, giving customers time to manage their positions before the service closes. Customer accounts will remain accessible for withdrawals until November 4. 

Matchbook said customer funds would remain protected under the operators’ respective regulatory obligations throughout the transition.

McDonagh said protecting existing customers was the immediate priority.

“Our first priority through this transition is Betdaq’s customers: their funds are safe, their options are clear, and in one combined pool they should find better prices and deeper liquidity than either exchange could offer alone,” McDonagh said.

Matchbook Targets Expansion

Betdaq was one of the earliest challengers to Betfair, the company which pioneered the modern betting exchange model. Now operated by Flutter, Betfair has remained the dominant exchange brand in the UK market.

Betdaq was previously sold to Ladbrokes in 2013 for €30 million ($34 million), though founder Dermot Desmond bought back the platform in 2021 for an undisclosed amount.

The acquisition follows Matchbook’s recent efforts to expand its presence beyond its core betting exchange business.

In 2024, the company partnered with easyGroup to launch easyBet. It has also entered the prediction markets sector through a partnership with ADI PredictStreet ahead of the 2026 FIFA World Cup.

That expansion comes amid growing interest in event contracts and prediction markets, particularly in the US.

Although prediction markets and traditional betting exchanges essentially operate in the same way, they are overseen by different regulatory frameworks. 

As with traditional sportsbooks, Matchbook is licensed and regulated by the UK Gambling Commission. Prominent prediction market operators in the US come under the purview of the Commodity Futures Trading Commission (CFTC), although that is the subject of ongoing legal battles.