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11 January 2012
Bingo News: Ladbrokes initiates talks with Betdaq
British sportsbetting giant Ladbrokes have begun talks with the man behind Betdaq, the global betting exchange operator Betdaq, in the hope of arranging setting up a new technology supply agreement.
A report in the Telegraph newspaper has said that Ladbrokes is hoping to put into practice the pricing and trading skills of a peer to peer betting exchange. Billionaire Irish businessman Dermot Desmond, set up Betdaq back in 2000. The Betdaq company has grown to become the second largest online betting exchange in the World, just behind the number one, Betfair. Mr Desmond currently has a 2 percent stake in Ladbrokes.
“It's only a discussion about Technology supply. Exchanges have got up to the minute pricing technology.” stated an unknown source within Ladbrokes. He went on to say that the bookmaker wasn't seeking to buy Betdaq but any deal that took place would come from a £50 million pot, which has been out to one side specifically for investment and web-based gambling.