|Ascot racecourse, fresh from a successful Shergar Cup on Saturday, have announced that its Festival of Racing meeting, at the end of September, is to be sponsored by BETDAQ, a Dublin-based betting exchange business which will become operational at about the same time. |
For the first time the BETDAQ Festival of Racing will be a three-day meeting starting on Friday 28, with the highlight, the Queen Elizabeth II Stakes, remaining on the Saturday. BETDAQ, who have signed a three-year sponsorship, will also sponsor a race each day including the 100,000 Diadem Stakes. In recent years the rapid development of technology has opened up all sorts of gambling possibilities and a betting exchange is just one of the latest, but the idea of letting punters offer their own odds and, or, take someone else’s offer is not completely new. Companies brokering bets between people and taking a commission like Flutter.com have been in existence for some time, but with limited sized bets. BETDAQ, which is backed by Dermot Desmond, owner of Commanche Court and a majority share-holder in Celtic Football Club, makes no bones about the fact that it is aiming for the top end of the market with a $500 (approximately 362 pounds) minimum bet with no upper limit. However, it is deposit as opposed to credit betting.
The Queen Elizabeth II Stakes remains unsponsored because of the ‘difficulty’ with the name, through the name BETDAQ will be carried on number cloths for the race which is likely to crown Europe’s Champion miler again.