Uk gaming operator Ladbrokes announced the launch of the Ladbrokes Exchange on the bookmaker’s website. The service is now available to sports betting customers on BETA.
The new service follows Ladbrokes’ acquisition of Betdaq earlier this year. Betdaq will remain a separately operated company led by managing director Lewis Findlay with Ladbrokes now a client of the wider exchange network.
Ladbrokes Exchange will initially be available online but it is set to be made available on mobile and tablet “within weeks”.
Ladbrokes issued a statement that read – We hope to capture a greater share of their clients’ existing spend through the exchange as well as to add new players who are attracted to the idea of a “one-stop shop”.
Ladbrokes customers will be able to take advantage of a “cash out” facility for the first time and their exchange users will be able to deposit or collect cash in more than 2,500 Ladbrokes shops in the UK and Ireland.
Ladbrokes Digital managing director Jim Mullen said: “This is a first for a major fixed-odds operator and provides us with an important point of differentiation. The service will develop over time but from day one will deliver a seamless offer to those Ladbrokes customers who already use both fixed odds and exchange services.”
The service will use “push technology” enabling Ladbrokes exchange players to automatically see rapid price movements on live markets.
Betdaq boss Findlay added: “Ladbrokes customers will enjoy the push-price technology enabling them to see the dynamic movement in exchange markets.
“By welcoming the Ladbrokes customer base to Betdaq it is win-win as the Betdaq exchange’s liquidity expands overnight, whilst the Ladbrokes customers will be able to enjoy a cash out option for the very first time, as well as the ability to switch between fixed odds and exchange markets swiftly using their existing Ladbrokes account.”