Prophet is planning to launch a brand-new sports betting exchange in New Jersey later this year. The legal sports betting site will then launch in Indiana sometime next year. The company has partnered with Caesars Entertainment in this endeavor.
As part of the initial rollout, a Prophet promo code should be released in conjunction with the Betprophet.co mobile app. This sports betting exchange will be available via the web and mobile app for both iOS and Android. It can also be accessed through Prophet’s public API.
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What is Prophet Sports Betting Exchange?
The Prophet Sports Betting Exchange is a brand new concept for legally betting on sports and sporting events. Fairly new to the US market, a sports exchange offers a betting system that allows players to buy, sell and trade positions.
The concept mirrors a stock market exchange where investors buy, sell and trade positions in a particular publicly traded company. Instead of stocks, the Prophet Sports Betting Exchange is trading betting options.
These options include point spreads, total lines and money line odds for the games. For example, a traditional sportsbook may post a six-point spread for Sunday’s big NFL showdown. That same game might be able to be bet at 5.5 points through the Prophet Sports Betting Exchange.
The use of a Prophet promo code will give bettors a chance to gain an even bigger edge on the betting lines for the games.
How Does a Betting Exchange Differ from a Sportsbook?
A sports betting exchange is a peer-to-peer system for betting on sports. Trading value hinges on demand and perceived worth. Players are able to dictate their own odds and buy, sell and trade accordingly.
The exchange acts as an intermediary while making its money on various transaction fees. The Prophet promo code can be used to enhance the betting experience.
A traditional sportsbook sets the betting odds for a particular game or sporting event and physically books the bets. When the bet is booked, a standard commission (vig or juice) is added to the amount of the wager. For example, a $100 bet on a particular game can actually cost $110.
If the bet wins, the player collects $100 plus the original $110 stake. If the bet loses, the $110 is lost. Sportsbooks make their money on the 10% commission.
Prophet Promo Code
Similar to sportsbooks, there will be a Prophet promo code connected with any particular offers. Players should look for an introductory Prophet sports betting exchange promo code when the site officially goes live.
These Prophet promo codes will change on a regular basis as new offers become available. By entering a Prophet sportsbook code, players become eligible to participate.
How to Claim the Prophet Welcome Promo?
The initial Prophet Welcome Promo will also come with a Prophet sportsbook promo code. This code is normally entered when making an initial deposit into an online account on the betprophet.co website or mobile app.
A full set of rules and regulations will accompany any Prophet promo code and subsequent promotional offer.
What States Can You Bet Online with Prophet?
This Prophet/Caesars collaboration will initially launch in New Jersey later this year. The NJ betting exchange will the first market in the US for Prophet Caesars.
New Jersey sports betting has been extremely successful since it was first legalized in May, 2018. This has become the biggest legal sports betting market in the US in terms of monthly volume.
Prophet New Jersey is looking to gain an early edge in the sports betting exchange segment of the industry. Future company plans call for Prophet Indiana to go live in 2022. This is another strong market for betting on sports. Indiana sports betting has been routinely in the Top 5 when it comes to monthly betting volume since its launch in 2019.
The rollout of betprophet.co will continue in 2022. However, no other specific markets have been announced. The use of a Prophet promo code will accompany any future launches.
Prophet New Jersey
Staging the initial launch in the New Jersey sports betting market makes solid business sense. This NJ betting exchange is based in the Garden State after starting in the UK back in 2018. Dean Sisun is the co-founder and company CEO.
Prophet has partnered with Caesars Entertainment as another strong player in the New Jersey sports betting industry. Caesars also gives Prophet online sportsbook a strong footprint for expansion across the US.
Indiana will be the second state offering the Prophet online sports betting exchange. This will most likely take place in early 2022. The IN betting exchange should have its own set of Prophet Indiana promo codes as part of the rollout plans.
The Indiana sports betting industry should be a favorable market for this new and unique online sports betting concept. Prophet Indiana will offer in-state players a brand new way to bet on the games. They can use the Prophet sports betting exchange as intermediary as opposed to betting with traditional sportsbooks.
The Prophet App will be available for download on iOS and Android devices. A preliminary release of the app can be found at betprophet.co. It offers a clean look with attractive graphics. This is where the Prophet promo code can be applied.
The total amount of money traded for each game is separated by a point spread, total line and money line wager. Players can quickly move to all of their positions through the My Bets tab. They can also check their account balance and browse all available betting lines.
What is the Main Benefit of Prophet Sports Betting Exchange?
Overall flexibility in the betting lines is a major plus. Bettors can shop for the best lines as opposed to being locked into an online sportsbook’s betting lines and odds.
Is the Prophet Sports Betting Exchange Legal?
Yes, the Prophet Sports Betting Exchange is legal where available. The NJ betting exchange and the IN betting exchange are tied to Caesar’s sports betting license in each of these states.
Does the Prophet Sports Betting Exchange Charge a Commission?
There is no commission added to wagers placed on the exchange. Every bet is on even money odds (+100) as opposed to the standard (-110) odds at online sportsbooks.
The Prophet sports betting exchange offers an exciting and innovative way to legally bet on sports. Launching in the New Jersey sports betting market should provide excellent exposure for the entire peer-to-peer betting experience.
Expanding to the Indiana sports betting market next year will extend that exposure to the perfect Midwest location.
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