Ladbrokes in talks with BetDaq

fairfranco · Posted: Mon Jan 09, 2012 9:56 am Post subject: Ladbrokes in talks with BetDaq

Ladbrokes in talks with billionaire BetDaq owner Dermot Desmond over 'technology' deal[url]

Ladbrokes has started talks with Irish billionaire Dermot Desmond, the owner of the BetDaq betting exchange, over a "technology" deal to revamp the bookmaker's faltering online business.

In the latest attempt by Ladbrokes' embattled chief executive Richard Glynn to gee up its internet betting wing, the bookie is seeking to buy in pricing and trading skills of a peer-to-peer betting exchange – long seen as a main rival to traditional bookmakers.

Mr Desmond, who has a stake of about 2pc in Ladbrokes, set up BetDaq in 2000, though it has been dwarfed by larger rival Betfair.

Mr Glynn has already walked away from four online deals since taking over as chief executive in April 2010. He made highly public takeover approaches to 888 and SportingBet before backing out, pulled out of the auction for Australia's Centrebet and had a flirtation with Playtech.

A Ladbrokes spokesman denied the bookie might also be interested in buying BetDaq, which is valued at more than £100m. "It's only a discussion about technology supply," he said. "Exchanges have good up-to-the-minute pricing technology."

He said any deal would come from £50m already set aside for investment in online gambling.

Source: Telegraph

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Interesting should they start showing some interest in a buy out, BetDaq really hasn't put in enough effort to try and pick up it's business and challenge Betfair. Though it's not easy to challenge a market dominator especially in a business where you need to have business (liquidity) to generate more they really could have tried to capitalise more on Betfair's introduction of the Premium charge which saw a lot of big money bettors from Betfair becoming disgruntled. I noticed many people were considering trying BetDaq out at that point but found not only was it a bit clunky but in most markets the liquidity just wasn't there to trade in the same way.

I think as well as the investment they really need a change of managent to bring in someone with the drive to push them forward.

Online Trader · Posted: Mon Jan 09, 2012 11:35 am Post subject:

Everybody will have the chance to try BetDaq out tomorrow as Betfair will not be available for the early part of the day (history says it will be a nightmare all day):

wikidme · Posted: Mon Jan 09, 2012 4:32 pm Post subject:

I work in a data centre myself and I can tell you these equipment migrations always go wrong or end up taking far longer than expected.

manafana · Posted: Mon Jan 09, 2012 6:06 pm Post subject:

yeah BetDaq needs to really push some migration slowly but surely premeir league be good start lower comm rates and like. Desmond hasnt been eager pump cash in anyway.

fairfranco · Posted: Mon Jan 09, 2012 9:54 pm Post subject:

true OT.

not the best for BetDaq as they'll probably be found out as not up to it and no one will want to go back!

heard tennis liquidity up a bit there. games on tomorrow morning?

i'll be missing the big bash game myself.

fairfranco · Posted: Tue Jan 10, 2012 9:37 am Post subject:

OT i don't think anyones gone there!

They have 1 event In Play at the moment and that is a tennis match between Wickmayer and Dellacqua. £1,850 matched on it and pretty much no odds available.

They didn't put the Aussie Big Bash game in play so just the 1k matched pre game. on Betfair the Big Bash games in play take over 2million yet on a day Betfair aren't online they don't bother putting it in play to see if they get any take up.

Just about somes them up really.