Prophet Exchange, the newly launched New Jersey-based peer-to-peer sports betting exchange, offered more competitive moneyline prices than its operator rivals in its first-ever NFL regular season gameweek.
A bettor who staked $100 on every winning team for NFL Week One would have made $157.46 more with Prophet Exchange, than a traditional sportsbook (total payout less Prophet Exchange’s 2% commission on each market). That’s about 10% more than a bettor would have won on a sportsbook.
Prophet Exchange operates a peer-to-peer model—the first of its kind in the United States—and acts solely as an intermediary. This means it takes no risk, and simply allows users to set prices, or place bets on prices already set by other users. The exchange then passes this unique benefit directly to the customer, by offering better prices.
Unlike traditional sportsbooks, Prophet Exchange does not add margin or vig to its odds, and sets no limits to wagers, as long as customers have a counterparty to match their bet.
Prophet Exchange also highlights it has a huge advantage on prime-time games. In Week One, Prophet Exchange bettors enjoyed superior pricing, and lots of liquidity, in prime-time: the exchange closed Thursday Night Football, Buffalo at Los Angeles at -118/+117, Sunday Night Football Tampa Bay at Dallas at -124/+122 and Monday Night Football Denver at Seattle at -265/+260.
“If a bettor bet $100 on every underdog for week one of the NFL on the Moneyline, they would have won $207 on a sportsbook—but with Prophet Exchange they would have won $318,” says Prophet Exchange co-founder and CEO Dean Sisun. “We offer competitive pricing and transparency that traditional operators simply can’t match. Our peer-to-peer model has already been a great success here in New Jersey, which bolsters our overarching vision to become the mainstream betting platform in the United States.”
New customers on the exchange this month will receive a 50% deposit match, up to $250 bonus.
“If you’re looking to bet on a team to win, or bet a prime-time game, Prophet Exchange has already proven in one week that it is the place to do so. We offer the best moneyline prices on both sides of the ball, along with spreads and totals at +100 odds, instead of the traditional -110,” says Prophet Exchange co-founder and COO Jake Benzaquen.
“Our offer of a 50% deposit match for new sign-ups in September makes Prophet Exchange an even greater value proposition for New Jersey bettors. We look forward to offering unrivaled moneylines for the rest of the NFL season—and beyond.”
NFL Legend Victor Cruz placed the very first bet on the exchange, on his beloved New York Giants. Cruz matched two bets, one on the New York Giants +5.5 at +100 (even) odds against the Tennessee Titans in Week One and one on the Giants moneyline at +230, winning both. Additionally, Cruz matched a bet on the Tampa Bay Buccaneers moneyline at -130 and won that too. A perfect Week One for the world champion!
Prophet Exchange offers moneyline, spread and total markets for NFL, NBA, NHL, MLB, NCAA Football & Basketball games. They will continue to add new sports and markets as the platform scales.
The Prophet Exchange platform is available on iOS, Android and web in New Jersey.
