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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.
Downside 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. |
Editor |
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Summary |
Rating : 8/10 |
no enticements |
Cut : 1% on returns |
Max Odds : Any |
Limits : min opening $500/bet $100 |
Based : Dublin |
Tel : ?? |
enquiries@betdaq.com |
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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