Philadelphia-based sports betting technology company, Sporttrade announced Thursday it has officially launched its sports betting exchange in New Jersey.
The brand is a dynamic sports trading marketplace now operational in the U.S., through which eligible customers can trade in and out of positions on sports outcomes.
The platform utilizes proven capital markets technology and infrastructure to enable users to realize profits or trim losses based on changes in the implied probability of an event to occur at any time.
— Sporttrade (@sporttrade_app) September 15, 2022 Alex Kane, Founder and CEO of Sporttrade, stated that the company is “proud to be the first operator to launch a unique and differentiated product designed for sports betting and trading enthusiasts seeking a better customer experience.”
Sporttrade’s capital markets-like approach is centered around its use of market makers to provide liquidity to the exchange. They provide “tight, liquid, and dynamic markets so that customers can trade frictionlessly both before and during games.” Sporttrade also offers order types like limit orders which allow customers to buy or sell outcomes at customized prices.
“We set out to create a better and more modern sports betting platform tapping into Americans’ passion for trading. What we’ve launched is the only differentiated sports betting platform in the U.S., but we believe we are defining a whole new category of sports wagering – trading sports,” Kane added.
Sporttrade will initially offer trading on Win/Loss outcomes, Spreads and Under/Overs for NFL, MLB, NBA, NHL, WNBA, Golf, and College Football and Basketball.