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Prophet Exchange Secures Over $10 Million in Funding

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Prophet Exchange, the first fully regulated, peer-to-peer, high-frequency sports betting exchange in the United States, has announced a new line of funding to the tune of over $10 million. Prophet Exchange officially launched in New Jersey in August 2022 and has more recently celebrated a successful Super Bowl, where the company saw over $1 million traded on the event.

Founded by Dean Sisun and Jake Benzaquen in 2018, Prophet Exchange is an entirely peer-to-peer sports betting platform that matches users’ potential bets with others from across New Jersey.

“As excited as we are to enter the emerging market of sports betting, we are a tech company at heart,” said Dean Sisun, CEO and co-founder. “We are a scrappy, lean and agile firm in a sea of behemoths, which allows us to respond to changes and capitalize on opportunities at a moment’s notice. This round of funding will let us continue as disruptors in the betting space and push our fast-moving product forward in this blossoming market.”

Built entirely on proprietary technology, Prophet Exchange is uniquely situated to capitalize on the rapidly changing and expanding sports betting market. As gambling legislation continues to roll out nationwide and change the face of gambling in the U.S., Prophet aims to position itself as the people’s exchange of choice.

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The platform offers money line, spread and total markets for NFL, NBA, NHL, MLB, and NCAA football and basketball games, and will continue to add new sports and markets as the platform scales. Soccer, tennis, golf, UFC and other Tier 2 sports will also be going live in the immediate future. And while only users within New Jersey can place bets, users across the country can download the app, view their lines, and learn the ins and outs of peer-to-peer exchanges, free of charge.

In the midst of challenging conditions across the financial markets in 2023, Prophet Exchange’s announcement of $10m in funding, securing backing from MIXI, Inc., Ninjabet and Chicago Trading Company, is a validation for their peer-to-peer exchange model.

While common across Europe, Africa and Asia, peer-to-peer exchanges were absent in the U.S. until 2022, when Prophet opened its doors in New Jersey.

Prophet is using this additional line of funding to look inward and develop the best, most innovative product in a rapidly emerging market. Prophet aims to work toward profitability while growing their already industry-leading tech offering. Additional pro-consumer pieces like increased liquidity, growing the roster of events, adding smart-wallet technology to let users trade more with less, and moving into in-play betting are in the immediate pipeline.

From here, Prophet can roll out its proprietary multi-state technology into new markets as licensing fees and market access agreements continue to come down.

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Prophet’s operation first began in the United Kingdom in 2018, as it passed all of the necessary licensing and compliance overseas in order to prove its concept before peer-to-peer exchanges were being considered in the United States. After gaining the relevant experience, the team returned home in 2020 to work with New Jersey regulators to develop exchange rules and regulations in a then-sportsbook-dominated environment.

“To be frank, something has always bothered us about ‘the house always wins,’” COO and co-founder Jake Benzaquen stated. “At Prophet, we win only when the user wins. As the first pro-consumer betting exchange in the country, we believe it’s time for the house to lose a few hands.”

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Endorphina Enters into Partnership with Luckia

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Endorphina has entered into a partnership with Luckia, a leading company in the gaming sector. Combining Endorphina’s passion for slots with Luckia’s innovative spirit, this partnership is set to provide incredible gaming experiences to all iGaming enthusiasts.

Endorphina’s Senior Partnership Manager, Zdenek Llosa, shared his excitement about the partnership: “We are thrilled to join forces with Luckia, a respected and influential operator in Colombia, Spain, Mexico, and Portugal. This partnership is a significant step forward in our global expansion strategy, allowing us to reach new players and markets. We are confident that Luckia’s players will appreciate the quality and diversity of our games, and we look forward to a fruitful and enduring collaboration.”

Luckia is a commercial brand of Luckia Gaming Group that combines offline and online gaming, including traditional businesses such as gaming machines in bars and restaurants and gaming arcades, new online gaming activities, and land-based sports betting. By advancing the current concept surrounding gaming, Luckia aims to provide an extensive entertainment experience, democratizing gaming and making it a social, accessible, and trust-inspiring activity.

Eloy Fernandez, Head of Product at Luckia, said: “We’re thrilled to announce our new partnership with Endorphina, with Mexico being the first market to go live with their creative slot content on Luckia’s platform! Endorphina’s distinctive games will not only enhance our offering but also provide a fresh and engaging experience for our Mexican players. Their unique approach aligns with our mission to elevate entertainment and optimize our services in key markets.”

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Compliance Updates

eCOGRA Approved to Operate in Arizona, Indiana and Panama

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eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.

This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.

Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.

In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.

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“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.

Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”

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Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro

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Aposta Ganha launches Black Friday promotion with new ambassador Luva de Pedreiro

 

Aposta Ganha, the fastest growing Brazilian sports betting and casino site in Brazil, has launched its Black Friday promotion with its newest ambassador Luva de Pedreiro, AKA Bricklayer’s Glove.

With over 21 million followers on Instagram, the digital influencer and social media phenomenon will strengthen the brand’s presence in the market and shake up Black Friday with a campaign full of special offers for bettors.

Known for his catchphrase “Receeeeba!” and his irreverent personality, Luva de Pedreiro will be the main face of the campaign, creating a direct connection with the public, football fans and social media enthusiasts. The partnership aims to increase Aposta Ganha’s visibility in the market, attract new bettors and offer an even more dynamic experience.

Aposta Ganha is taking advantage of Black Friday to reinforce its commitment to ethical and transparent operations in the market. The platform complies with the new regulations of the Federal Government and invests in education and awareness initiatives, ensuring a safe experience for its users.

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Vitor Paulin, Chief Marketing and Growth Officer at Aposta Ganha, said: “Signing an ambassador like Luva de Pedreiro is a huge milestone for Aposta Ganha. His authenticity and connection with the public make him the ideal partner to boost our brand and make the betting experience even more exciting.”

Aposta Ganha’s Black Friday brings unmissable offers for all types of bettors. One highlight is that bettors will receive 10% cashback on the amount lost in the Aviatrix game and daily offers for sports betting. The promotions will be valid from November 21 to 30, with exclusive advantages in selected games each day.

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