Betdaq Email I received

The purple place, the most viable alternative to the Betfair exchange
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Realrocknrolla
Posts: 1538
Joined: Fri Jun 05, 2020 7:15 pm

We are writing to let you know about changes that will be taking place on 1st December 2021 which will affect the use of your BETDAQ account.

On 30th November 2021 at 23:59, we will be transferring the licensed operation of BETDAQ from LC International Limited to Exchange Platform Solutions Limited, which will then be sold and cease to be part of the wider Entain group.

To ensure that our customers understand what will be taking place, we have set out some frequently asked questions below.

What happens on 1st December 2021?

When you login on or after 1st December 2021, you will see a pop-up box with an acceptance prompt. In order to continue using your BETDAQ account, you will need to click to confirm you agree to the updated Terms and Conditions that you will enter into with Exchange Platform Solutions Limited.

You will not be able to access your BETDAQ account after this date, until you have agreed to the updated Terms and Conditions. Should you agree, your use of your BETDAQ account will then continue as normal.

Does this change affect the way my funds are protected?

No. Your funds will have the same level of protection and will still be safeguarded in the same way.

Your funds, which are currently held on LC International Limited’s behalf by Ladbrokes Trustee Company Limited, will be transferred to BETDAQ Trustee Company Limited, which will hold your funds in a segregated bank account on behalf of Exchange Platform Solutions Limited, in accordance with the British Gambling Commission’s requirements at the level of medium protection.

What happens if I don’t agree to the updated Terms and Conditions?

In order to continue using your BETDAQ account you must agree to the updated Terms and Conditions.

If, upon logging in to your account, you elect not to agree to the updated Terms and Conditions, your BETDAQ account will be closed and your existing customer agreement with LC International Limited will be terminated. BETDAQ will then attempt to return any cash balance to the most recent payment method registered on your account within 72 hours, subject to the existing Terms and Conditions. You can also contact BETDAQ Customer Services via [email protected] to arrange for the manual return of your funds.

Any outstanding bets or offers (including further balances resulting from such offers) for closed accounts shall be managed in accordance with the account closure process outlined in the existing Terms and Conditions.

Will I see a change on my bank statements?

Yes. From 1 December 2021, should you deposit to your BETDAQ account, you will see Exchange Platform Solutions Limited appear on your bank statements instead of LC International Limited.

Will I still be able to view details of old bets, deposits and withdrawals?

Yes. Your account history will be available in the same way as it is today.

Does this change affect any settings I have on my account?

No. Your account settings will remain unchanged.

What will happen to my personal data?

On 1st December 2021, your personal data will transfer from LC International Limited to Exchange Platform Solutions Limited, which will be the new controller of your data from this date. Exchange Platform Solutions Limited will continue to process your personal data in accordance with the BETDAQ Privacy Notice and the relevant legal basis, being for the performance of a contract, legal and regulatory purposes.

Please note, this change will not affect the way your data is held, and more details of how your data is processed can be found within the BETDAQ Privacy Notice. If you have any questions in relation to the transfer of your personal data, please contact us at [email protected].

Regards
The BETDAQ Team
LC International Limited
HotStreak
Posts: 4
Joined: Tue Dec 03, 2019 1:23 pm

I received the same today. . .

When did they decide to offload it? Must have passed me by.

Can/will it survive long term?
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Realrocknrolla
Posts: 1538
Joined: Fri Jun 05, 2020 7:15 pm

HotStreak wrote:
Wed Nov 24, 2021 12:36 am
I received the same today. . .

When did they decide to offload it? Must have passed me by.

Can/will it survive long term?
We can be hopefully. Maybe @Euler knows a little bit more or the @BetAngel team.
verance
Posts: 39
Joined: Wed Nov 11, 2020 10:59 am

Dermot Desmond re-purchasing it was the word on the street the last few months.

Hopefully good to have an exchange not owned by bookmakers.
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Grinderman
Posts: 78
Joined: Sun Mar 08, 2015 2:44 pm

I got the same. Doesn't bode well. Why would Ladbrokes group buy it wor 30 mill and dump it? Must have thought it was a good idea to have an exchange at the time. I, like many on here, hoped that they would put money in, build it up and provide Betfair with much needed competition.
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Realrocknrolla
Posts: 1538
Joined: Fri Jun 05, 2020 7:15 pm

https://thecurrency.news/articles/62033 ... on-betdaq/

Not much news out there to be fair.
Emmson
Posts: 2436
Joined: Mon Feb 29, 2016 6:47 pm

Ladbrokes caught out again then. :)

I remember reading how Robert Sangster sold Vernons football pools to Ladbrokes for £90 million, he knew the National Lottery was on its way which rendered Vernons close to worthless.
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Euler
Posts: 21808
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ
Contact:

I have talked about this on other threads. Dermot Desmond had a buy-back clause in the sale contract, so has exercised that.

If it was Betfair everybody would be cheering, so you should cheer this as well. An independent exchange!!!
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Realrocknrolla
Posts: 1538
Joined: Fri Jun 05, 2020 7:15 pm

Euler wrote:
Wed Nov 24, 2021 2:43 pm
I have talked about this on other threads. Dermot Desmond had a buy-back clause in the sale contract, so has exercised that.

If it was Betfair everybody would be cheering, so you should cheer this as well. An independent exchange!!!
Cheers for the clarification.
Emmson
Posts: 2436
Joined: Mon Feb 29, 2016 6:47 pm

In 2005 Dermot Desmond said of his Betdaq

I think about Betdaq every morning when I get up, and every night when I go to bed


https://www.thefreelibrary.com/Racing%3 ... 0126776837
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