Matchbook acquires rival betting exchange Betdaq, cutting UK major exchanges to four

Betting exchange Matchbook has acquired its rival Betdaq, a deal that reduces the number of major betting exchanges in the UK to four. According to the report, the other three dominant exchanges are the Betfair Exchange, Spreadex and Smarkets.

Matchbook linked the transaction to the worldwide rise of prediction markets, which it says has renewed demand for peer-to-peer betting models such as the traditional exchange. Chief executive Ronan McDonagh said the two businesses grew up proving that bettors get a better deal when prices are set by a market rather than a margin. He added that the idea is now winning as exchanges and prediction markets bring peer-to-peer pricing to new audiences, and that the acquisition deepens the pool at the heart of Matchbook's products.

Matchbook was founded in 2004 and is headquartered in Alderney in the Channel Islands. Betdaq was founded in 2000 and is based in Dublin; its founder is Irish businessman Dermot Desmond. Matchbook has stepped up its prediction market and B2B activity during 2026. In December 2025 it became the first UK firm to launch a prediction markets platform, and in June it signed a white label agreement with ADI Predictstreet, the official prediction market partner of the 2026 FIFA World Cup.

The deal comes as gross gambling yield for betting exchanges fell again across the UK in 2025/26. McDonagh said Matchbook has nonetheless been gradually growing its market share, and the takeover is expected to lift that share immediately. Matchbook says it intends to combine its pricing, liquidity and technology with Betdaq's status as a heritage exchange brand to build a deeper combined pool.

For Betdaq customers, trading services will remain available until 21 October. Account withdrawals will stay operational until 4 November, and customer funds are protected in line with all regulatory obligations. McDonagh said the first priority in the transition is Betdaq's customers, who should find better prices and deeper liquidity in one combined pool than either exchange could offer alone.