It's a very differentiated product from DraftKings or FanDuel, and they hope the lower vig will bring in customers without as much traditional marketing.īut the barrier to entry for an exchange in the U.S. Prophet and Sporttrade launched in New Jersey at the start of the 2022 NFL season and hope to quickly expand to other states next year. Why Were There No Betting Exchanges in the United States? The exchange doesn't care how good a bettor is - it makes money by taking a cut of transactions, not beating its customers.
Some exchanges also promise a more user-friendly experience by using simple percentages and not American odds.Īnd exchanges excite high-stakes, professional bettors because they won't be limited.
You won't be betting NFL point spreads at -110 at an exchange you can effectively get them closer to -101 or even money. Sporttrade: Which NJ Betting Exchange Should You Use? Read nowīetting exchanges have low overhead because they don't need expansive oddsmaking teams, so they charge a small fee on each bet - much less than the 5-10% a traditional sportsbook takes.
