{"id":179421,"date":"2021-07-12T16:45:07","date_gmt":"2021-07-12T23:45:07","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=179421"},"modified":"2021-07-12T17:03:52","modified_gmt":"2021-07-13T00:03:52","slug":"new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/","title":{"rendered":"Prophet Will Launch First US Sports Betting Exchanges in New Jersey, Indiana"},"content":{"rendered":"

The launch of the first sports betting exchange in the US may be coming closer. On Monday, New Jersey-based Prophet announced it secured an agreement with Caesars Entertainment to serve as a mobile betting skin for the gaming giant in New Jersey and Indiana.<\/p>\n

\"Prophet
New Jersey may be welcoming the first sports betting exchange to operate in the US. On Monday, Prophet announced that it has secured access to the Garden State and Indiana through a multi-year agreement with Caesars Entertainment. The peer-to-peer exchange said it plans to launch later this year in order to be available during football season. (Image: famartin\/Wikimedia Commons)<\/figcaption><\/figure>\n

In a release touting the multi-year deal, Prophet said it plans to launch in New Jersey later this year to take advantage of the college and pro football seasons. The Indiana rollout is slated for some time next year, with the potential for additional unnamed states coming after that.<\/p>\n

Founders Dean Sisun, Prophet\u2019s CEO, and Jake Benzaquen, its COO, created the company three years ago and set up an exchange in Great Britain. The company now is bringing its team and technology to the States<\/p>\n

Sisun said in a statement that the simplicity of Prophet\u2019s platform will help it stand out.<\/p>\n

\n

We are for the customers who want the best experience and prices on the market,\u201d he said. \u201cOur customers will have the luxury of placing bets on spreads 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.\u201d<\/p>\n<\/blockquote>\n

Prophet will be available on iOS and Android devices, the website betprophet.co, and its public API. The API access, the release stated, is for bettors who wish to trade more quickly and make bulk transactions.<\/p>\n

Prophet Temporarily Suspended in Britain<\/h2>\n

According to the UK Gambling Commission<\/a>, Prophet was suspended temporarily in April 2020 for not fully integrating GAMSTOP into its application.<\/p>\n

GAMSTOP is an online self-exclusion tool for bettors in Britain. In January 2020, the UKGC notified all online licensees that they must have the tool available for bettors on their app or site by March 31.<\/p>\n

Prophet was one of two operators suspended, according to an April 3, 2020, release.<\/p>\n

The UKGC lifted the suspension four days later.<\/p>\n

A search of the UKGC database shows that Stake Trade Inc., which had the license for BetProphet.co in Britain, was active from May 10, 2019, to April 14 of this year. The license is listed as surrendered. A company spokesperson confirmed to Casino.org<\/i> that action was taken to focus on the upcoming US launch.<\/p>\n

Others Working on US Sports Betting Exchanges<\/h2>\n

Sports betting exchanges in the US have been a topic of discussion in the gaming industry even before the Supreme Court threw out the Professional and Amateur Sports Protection Act (PASPA) of 1992. That gave states the ability to legalize and regulate sports wagering.<\/p>\n

\n

The main concern about such exchanges is that they would have to function exclusively within states. While online poker apps can take advantage of shared liquidity agreements between states \u2013 where they\u2019re signed and approved \u2013 to allow players to play in interstate games, sports betting is hamstrung by the Wire Act<\/a>. That’s the 60-year-old law that prohibits the use of wired communication devices to transmit sports betting information across state lines.<\/p>\n<\/div>\n

Still, that has not deterred all from developing exchanges in hopes of getting them in US markets.<\/p>\n

ZenSports<\/a> has secured more than $3.8 million in funding in the last year to help with the development of its peer-to-peer sports betting app. The company has agreements in place to operate in Nevada and Colorado through access agreements. In addition, it has filed for licenses in Tennessee and Virginia.<\/p>\n

Like Prophet, Sporttrade is preparing for a launch in New Jersey later this year. Last month, the company announced it raised $36 million<\/a> from a group of investors. Sporttrade has a market-access agreement with Bally Sports.<\/p>\n","protected":false},"excerpt":{"rendered":"

The launch of the first sports betting exchange in the US may be coming closer. On Monday, New Jersey-based Prophet announced it secured an agreement with Caesars Entertainment to serve as a mobile betting skin for the gaming giant in New Jersey and Indiana. In a release touting the multi-year deal, Prophet said it plans […]<\/p>\n","protected":false},"author":45,"featured_media":179423,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,1074],"tags":[],"acf":[],"yoast_head":"\nNew-to-US Prophet to Launch Sports Betting Exchanges in NJ and Indiana<\/title>\n<meta name=\"description\" content=\"Prophet previously ran a sports betting exchange in Great Britain. A partnership with Caesars gives it access to New Jersey and Indiana.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New-to-US Prophet to Launch Sports Betting Exchanges in NJ and Indiana\" \/>\n<meta property=\"og:description\" content=\"Prophet previously ran a sports betting exchange in Great Britain. A partnership with Caesars gives it access to New Jersey and Indiana.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-12T23:45:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-13T00:03:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"834\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/\",\"url\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/\",\"name\":\"New-to-US Prophet to Launch Sports Betting Exchanges in NJ and Indiana\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg\",\"datePublished\":\"2021-07-12T23:45:07+00:00\",\"dateModified\":\"2021-07-13T00:03:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"Prophet previously ran a sports betting exchange in Great Britain. A partnership with Caesars gives it access to New Jersey and Indiana.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg\",\"width\":1200,\"height\":834,\"caption\":\"New Jersey may be welcoming the first sports betting exchange to operate in the US. On Monday, Prophet announced that it has secured access ti the Garden State and Indiana through a multi-year agreement with Caesars Entertainment. The peer-to-peer exchange said it plans to launch later this year in order to be available during football season. (Image: famartin\/Wikimedia Commons)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gaming Business\",\"item\":\"https:\/\/www.casino.org\/news\/gaming-business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Prophet Will Launch First US Sports Betting Exchanges in New Jersey, Indiana\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\",\"name\":\"Steve Bittenbender\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png\",\"caption\":\"Steve Bittenbender\"},\"description\":\"Steve Bittenbender covers Midwest and Gulport news for Casino.org. He also specializes in sports betting and horse racing. Steve is a veteran reporter and brings more than two decades of experience covering sports, business and politics. He joined Casino.org in 2019. Steve has also covered major collegiate and professional sports for the Associated Press and the Louisville Courier-Journal and is frequently featured on local network TV newscasts and podcasts for his horse racing business and legislative expertise. A Reuters contributor, he has also previously served as editor for Government Security News. Steve lives in Louisville, Kentucky -- the epicenter of the US horse racing industry -- with his wife and son. He is also an avid poker player, having learned from his uncle as a wholesome after-school pastime with cookies and milk. Contact Steve at stevebittenbender@casino.org.\",\"url\":\"https:\/\/www.casino.org\/news\/author\/steve-bittenbender\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New-to-US Prophet to Launch Sports Betting Exchanges in NJ and Indiana","description":"Prophet previously ran a sports betting exchange in Great Britain. A partnership with Caesars gives it access to New Jersey and Indiana.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/","og_locale":"en_US","og_type":"article","og_title":"New-to-US Prophet to Launch Sports Betting Exchanges in NJ and Indiana","og_description":"Prophet previously ran a sports betting exchange in Great Britain. A partnership with Caesars gives it access to New Jersey and Indiana.","og_url":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2021-07-12T23:45:07+00:00","article_modified_time":"2021-07-13T00:03:52+00:00","og_image":[{"width":1200,"height":834,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg","type":"image\/jpeg"}],"author":"Steve Bittenbender","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Steve Bittenbender","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/","url":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/","name":"New-to-US Prophet to Launch Sports Betting Exchanges in NJ and Indiana","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg","datePublished":"2021-07-12T23:45:07+00:00","dateModified":"2021-07-13T00:03:52+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2"},"description":"Prophet previously ran a sports betting exchange in Great Britain. A partnership with Caesars gives it access to New Jersey and Indiana.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/07\/1280px-thumbnail_Fotor.jpg","width":1200,"height":834,"caption":"New Jersey may be welcoming the first sports betting exchange to operate in the US. On Monday, Prophet announced that it has secured access ti the Garden State and Indiana through a multi-year agreement with Caesars Entertainment. The peer-to-peer exchange said it plans to launch later this year in order to be available during football season. (Image: famartin\/Wikimedia Commons)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/new-to-us-prophet-to-launch-sports-betting-exchanges-in-nj-and-indiana\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Gaming Business","item":"https:\/\/www.casino.org\/news\/gaming-business\/"},{"@type":"ListItem","position":3,"name":"Prophet Will Launch First US Sports Betting Exchanges in New Jersey, Indiana"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2","name":"Steve Bittenbender","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png","caption":"Steve Bittenbender"},"description":"Steve Bittenbender covers Midwest and Gulport news for Casino.org. He also specializes in sports betting and horse racing. Steve is a veteran reporter and brings more than two decades of experience covering sports, business and politics. He joined Casino.org in 2019. Steve has also covered major collegiate and professional sports for the Associated Press and the Louisville Courier-Journal and is frequently featured on local network TV newscasts and podcasts for his horse racing business and legislative expertise. A Reuters contributor, he has also previously served as editor for Government Security News. Steve lives in Louisville, Kentucky -- the epicenter of the US horse racing industry -- with his wife and son. He is also an avid poker player, having learned from his uncle as a wholesome after-school pastime with cookies and milk. Contact Steve at stevebittenbender@casino.org.","url":"https:\/\/www.casino.org\/news\/author\/steve-bittenbender\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/179421"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=179421"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/179421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/179423"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=179421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=179421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=179421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}