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Betdaq, the betting exchange founded by Celtic investor Dermot Desmond, has been acquired by rival operator Matchbook in a deal aimed at strengthening liquidity and improving prices for customers.
The acquisition brings together two established names in peer-to-peer betting, combining Betdaq’s legacy with Matchbook’s expertise in pricing, liquidity and technology.
Desmond founded Betdaq in 2000 and remains Celtic's largest single shareholder.
The exchange allows customers to bet against one another rather than placing bets through a traditional bookmaker, with prices determined by the market.
Matchbook said the combined operation would create a larger pool of activity, with the aim of delivering tighter spreads and better prices for users.
Betdaq’s service will remain operational for trading until October 21, 2026. Customer accounts will remain open for withdrawals until November 4, 2026.
Matchbook has operated exchange markets for more than 20 years and has recently expanded through ventures including easyBet and ADI PredictStreet, which launched prediction markets around the FIFA World Cup 2026.
The business is operated by Triplebet Limited and is licensed in Great Britain by the Gambling Commission.
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Ronan McDonagh, chief executive of Matchbook, said: "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.
"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.
"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.
"Everything we are doing – this deal included – is about making the exchange first choice."
A spokesperson for Matchbook said: "Customer funds remain protected in accordance with both operators’ regulatory obligations throughout. Betdaq customers can find key dates, a detailed FAQ and their options at betdaq.com."