Caesars launches online sports betting exchange with Prophet

New Jersey-based sports betting exchange Prophet announced Monday a multi-year market access agreement with Caesars Entertainment for the US.

The agreement with Caesars will see Prophet launch its peer-to-peer sports betting exchange, betprophet.co, initially in New Jersey for the 2021 NFL and college football season, and Indiana in 2022, before future rollouts to additional U.S. states. Prophet will offer its services on web, iOS, Android, and via their public API.

The company was founded in 2018 by CEO Dean Sisun, Chief Executive Officer, and COO Jake Benzaquen.

Sisun commented: "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.”

Prophet is a peer-to-peer sports betting exchange that was formerly licensed in the UK and operated out of London. The company then took its team and technology stateside to enter the U.S. market, which is solely concentrated on sportsbooks.

Prophet’s exchange technology 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.