Prophet Exchange, the first peer-to-peer sports betting exchange in the United States, has launched in New Jersey ahead of the next National Football League season. This is a huge step for US sports betting, as punters in the Garden State can now access a novel sports betting offering.
Prophet Exchange Is the First of Its Kind in the US
As a peer-to-peer sports betting exchange, Prophet Exchange will allow sports fans to bet against one another instead of against an operator. It will notably be the first of its kind to legally operate in the United States.
Prophet Exchange will allow customers to set their own prices and have other users bet on them. This will create a dynamic and competitive market where bettors are free to compete and show off their understanding of sports and odds. Prophet will serve as an intermediary and will not set limits on any of the wagers set by players. However, customers still need to have a counterparty to match their bet.
At first, the exchange will offer moneylines, spread and total markets for the most popular leagues, including the National Football League, the National Basketball League, the National Hockey League, Major League Baseball, as well as NCAA Football and Basketball. Additional sports will be added at a later date.
Prophet Exchange is available for both Android and iOS and can be also accessed on the web.
Prophet’s Founders Are Excited by the Launch
The betting exchange was founded in 2018 by Dean Sisun and Jake Benzaquen. Since then, the two have been working hard to get Prophet approved for launch in the United States. Their results have finally yielded success as the platform has received approval to launch in New Jersey.
Sisun, now serving as Prophet Exchange’s chief executive officer, said he is really excited to be the first fully regulated betting exchange in the Garden State.
This has been a monumentally challenging journey to date, and to see it come to life is an amazing achievement for our team. That being said, this is only Prophet’s first major milestone, and we will not lose sight of our north star: becoming the mainstream sports betting platform in the United States.Dean Sisun, CEO, Prophet Exchange
Benzaquen, now serving as a chief commercial officer of the exchange, added:
Being the first start-up and the first betting exchange in the United States regulated market means the world to us and our team here in Hoboken, and globally. We cannot wait to show the public who we are and what our product offers to the market here in New Jersey and beyond.Jake Benzaquen, COO, Prophet Exchange
Bettors in New Jersey can now access Prophet Exchange and its offerings. The team behind the novel product can’t wait to upgrade and enhance the platform. Sports fans should stay tuned for future developments.