Dermot Desmond, Betdaq\’s owner, has created a new company called Exchange Trading Strategies to avoid any financial conflict in seeding the markets on his betting exchange operation.
As betting exchanges rely on punters to create their own markets, it is often deemed necessary to kick-start the process by offering odds on various events. Exchange Trading Strategies will provide this service to Betdaq and its punters under the new gambling legislation, which is expected to restrict the practice of seeding markets on betting exchanges.
In an industry dominated by rival firm Betfair, the establishment of Exchange Strategies is just the latest move to promote Betdaq and secure greater market share.
Late last year Betdaq signed a series of white label deals to increase its global presence. These included a betting exchange platform in partnership with Channel 4, Betmate, in tandem with Cassava Sports Limited, and Abexx88, a joint venture with CITIC Pacific Limited of Hong Kong.
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