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Caesars launches betting exchange in cooperation with Prophet

New Jersey-based sports betting exchange, Prophet, have entered a multi-year market access agreement with Caesars Entertainment which will allow the company to launch its peer-to-peer sports betting exchange, betprophet.co. Prophet’s services will be offered on web, iOS, Android, and via their public API. The two partners anticipate additional launches to other U.S. states.

Prophet is a peer-to-peer sports betting exchange that used to be licensed in the UK and operating from of London. After the company moved stateside to enter the U.S. market it is solely concentrated on sportsbooks.

Thanks to its exchange technology, Prophet allows users to bet spread and totals at even (+100) odds rather than traditional -110 odds, and benefit from lower vig on moneyline markets, all with no limits. Prophet also allows its users the ability to market-make with public API access, in order to trade more quickly and in bulk.

Prophet was founded in 2018 by Chief Executive Officer Dean Sisun, who confirmed the partnership:

“We are delighted to announce our agreement with Caesars which will see Prophet launch for the 2021 football season. Prophet is going to be the sports betting exchange of choice because of its simplicity and focus on sports betting principles. We are for the customers who want the best experience and prices on the market. Our customers will have the luxury of placing bets on spread and total markets at even (+100) odds, not being limited on any action, and also have the ability to create their own odds on markets offered. For example, if the spread on a game is -6, but you want -5.5, you can make that offer with Prophet. The same goes for both moneyline and total markets.”

The post Caesars launches betting exchange in cooperation with Prophet appeared first on iGaming.

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Author: Nitin