Prophet Exchange Enters NJ, Permits Peer to Peer Betting

• Prophet Exchange became the first sports betting exchange to launch in the United States.
• The app permits bettors to accept or offer betting lines on a variety of professional and collegiate sports.
• Prophet Exchange doesn’t charge any vigorish, making most lines sit at even odds.

ATLANTIC CITY, N.J. – A new wave of legal sports betting arrived in America, with the launch of Prophet Exchange in New Jersey.

The peer-to-peer sports betting app connects two bettors looking for action, without a sportsbook. This methodology allows a “friendly-style” of wagering, as bets come without any vigorish… or are set by individuals hoping to finalize a bet.

Betting possibilities start in the NFL but odds on the NBA, NHL, MLB, college sports and more are present too. Moneylines, totals, and spreads are available. Also, Prophet Exchange doesn’t limit how much two users can bet.

The goal behind allowing users to set their own odds come as a way to remove vigorish from legal sports betting sites. If another user doesn’t accept the bet, it gets refunded – this makes Prophet Exchange truly a bettor’s dream sportsbook.

Partnered with Caesars, the company plans on bringing the idea to Indiana sportsbooks in 2023. But Victor Cruz brought the attention to New Jersey this week, accepting two bets on the platform.

• New York Giants +5.5 (+100) vs. Titans
• New York Giants Moneyline (+230) vs. Titans

Cruz is a strategic partner for the company, which received licensing approval from the NJ Division of Gaming Enforcement.

Available on computers as well as smartphones (iOS and Android), this is the first sports betting exchange in the US.

News tags: Caesars | New Jersey | Prophet Exchange