Sporttrade, which is a Philadelphia-based company, recently announced its multi-year partnership with the Twin River Casino.
Alongside this announcement, came the decision to launch the Sporttrade Betting Exchange in New Jersey. This launch is expected to occur in the summer of 2022.
Follow us and let’s see how it works!
Chapter 1
How Does Sporttrade Exchange Work?
Sporttrade exchange brings up a new concept of sports betting that is quite alien in the US.
To know what exactly it entails, keep reading.
Sporttrade works in a way that allows you to buy stocks in the predicted outcomes of games. It also allows you to buy equities in the performances of both teams and players. This implies that if your stocks perform well, then your shares become more valuable.
Share prices are not stable as they are influenced by two major factors. One such factor is their performance with respect to projected outcomes. If their performance exceeds these expectations, the share price goes higher, and more Sporttrade users win.
The second factor is that share prices are dependent on supply and demand. That is, the more shares sold on the platform, the better. This also affects the number of players that win on the Sporttrade exchange.
Since we now have an idea of how the Sporttrade betting exchange works, let us take deeper scrutiny into this platform.
Is it Legal?
Sporttrade Exchange is legal and would be regulated by the laws of the state in which it is operational.
Therefore, for the one located in New Jersey, it will be licensed by the New Jersey Division of Gaming Enforcement (NJDGE).
With this, users of this website can be assured that Sporttrade is legal.
Back and Lay Betting at Sporttrade
In our evaluation of Sporttrade, we have concluded that back and lay betting is fully functional.
Back betting involves you betting in support of a particular stock, i.e, you are betting that the stock will perform well.
This means that you are backing the stocks. Thus, if it performs well, your shares gain a higher value.
Whereas lay betting means that you bet against a stock, i.e, you are betting that the stocks will fail. This means you have laid the bet.
Therefore, on the condition that it does not perform well, your shares become more valuable.
Overall, for every back bet, there is a lay bet. This implies that when you back stocks, another player is laying the bet.
And this is where the job of Sporttrade ends. All they do is match two players and leave the rest to the bettors.
Chapter 2
Promotions
Discover below the bonus offers and promos enjoyed by new and old Sporttrade customers.
Welcome bonuses and promos are among the features of any betting site that attracts new customers. In our research, however, we were unable to find any promotions or bonus offers provided by Sporttrade. This could be due to the fact that it is still a work in progress.
We hope that when the platform officially launches, they provide these promos and loyalty programs for their users. Some of the bonus offers we would love to see are:
Welcome Bonus Offers
Nothing attracts new customers more than a very generous and enticing welcome bonus. After completing their first deposits, new members can expect to receive welcome bonuses as rewards. This match deposit bonus offer may be limited to certain requirements.
Free Bets
Alongside welcome bonuses, Sporttrade may decide to reward new members with free bets just for signing up. You can decide to use these free bets to get acquainted with the website.
Referral Bonuses
Another appealing feature of a gaming site is a reward for inviting people to sign up. When you refer a friend using your unique referral link, Sporttrade is expected to dish out a bonus offer to you.
Chapter 3
Commission
How does this exchange make profits?
How much commission does Sporttrade charge?
Read on and find out.
Unlike conventional sports bookies, Sporttrade does not charge a commission based on the number of odds. It deducts commissions only from winners and this fee is quite little.
In addition, there is also a small fee attached to every transaction performed on this website. This means that for every deposit and withdrawal, Sporttrade removes a certain percentage as fees.
Every fee charged is affiliated with the use of the platform. The brand is yet to declare how much they will charge but we are on the lookout.
Chapter 4
Liquidity
What is liquidity and how does it affect betting exchange?
Come along with us as we discuss this.
Liquidity defines the ability of the platform to convert its customers’ winnings to readily usable cash without tampering with the odds.
While scrutinizing this betting exchange, we were unable to discover any information relating to liquidity.
However, going forward, we hope that this changes and Sporttrade gives us detailed information on its liquidity.
Chapter 5
Registration: Step-by-Step Guide
How do I register on this site?
What if I have questions relating to registration?
Why do I need KYC verification?
All these and more are discussed in this section.
At the point of writing this, we could not provide a step-by-step process on how to sign up on this site because it has not been fully launched. But you can pre-register.
Scroll to the bottom of the site and you find where to pre-register.
Fill it and click on Notify me and Sporttrade will register your mail. They will notify you after the full launch.
Additionally, remember that exchanges demand verification after registration and we expect the same for Sporttrade.
This verification process confirms that you are you and also ensures you are old enough to gamble. It helps promote responsible gaming as anyone below 21 years is not allowed to gamble. The documents needed to verify your identity are as follows:
- Driver’s License
- Passport ID
- Bank statement
- Utility bill
- Insurance agreement
Any of these documents can be submitted to complete the verification process. After verifying your identity, you have full access to all that this site offers you. All you have to do is use your Sporttrade login to sign into your account when the site is ready.
Chapter 6
Payment Methods Available
What payment methods can I use for deposits and withdrawals?
How long is my transaction expected to take?
Answers to these questions are given below.
Although Sporttrade Exchange has not listed any official payment methods, we expect that they make use of any of the following. These are some of the frequently used payment options used by other sportsbook and betting platforms.
- Wire transfers
- E-wallets, like Neteller, Skrill, etc.
- Credit/Debit cards
- Online banking
- Cash at the cage
In addition, we hope that the payout processing time for each of the above methods is quick and immediate
Also, similar to other betting sites, we expect that the minimum deposit and withdrawal amount will be $10.
Also, the maximum amount should range between $3000 – $5000.
How to Deposit Money In Your Sporttrade Account
Since this platform is yet to be launched, there isn’t much we can say about the procedures to follow for deposits. However, we advise that you check out the FAQs section for any questions you may have.
How to Withdraw Money From Your Sporttrade Account
Since Sporttrade has not fully launched, there is nothing on the withdrawal process yet. But we believe it will be nothing out of the ordinary.
Chapter 7
Betting Options Available
Sporttrade Exchange provides you with different options to buy and sell bets.
What are these options?
Find out as you read on.
While acting as a regular sportsbook, Sporttrade goes over and beyond to give you new ways to trade wagers.
Some of the betting options expected to be provided by Sporttrade are point spreads, totals, teasers, and more. We also hope that this site provides props and futures to make things more exciting.
Markets Available
Although Sporttrade is a betting exchange, we expect that it will debut with the same sports to bet on as regular bookies. Also, since it is a company targeted at US bettors, we expect the following sports.
- Baseball
- Basketball
- Football
- Soccer
- Golf
- Cricket
- Table tennis
- Horse racing
- Tennis
- Hockey, etc.
Features
Some additional features we discovered on this platform include:
- Implied Probability Odds – This is a feature that means Sporttrade displays its odds as percentages rather than as moneylines. However, you can toggle between this feature and the traditional display.
- Live Betting – Live betting involves you placing bets on amended odds dependent on how the match is progressing. And this platform, just like so many others, provides this option to its users.
Chapter 8
Mobile App
To discover if the Sporttrade mobile app is available and downloadable, continue to read.
You will also find out if it is iOS-compatible.
At the time of writing this Sporttrade review, there is no app currently available for this platform. However, there are plans in progress to develop a functional app for the exchange.
We expect that when the app becomes officially available, it will be downloadable both on iOS and Android devices.
Therefore, for now, any bettor that wants to make use of this exchange must do so using their official website.
Chapter 9
Trading Software
What trading software is Sporttrade using?
Is it using independent software or outsider software?
Get answers to these questions as we move on.
Regarding the trading software used by Sporttrade Exchange, we did not find much information. However, we expect that whichever software they make use of, it would be from a reputable company.
Companies such as Betfair, Spreadex, Betdaq, and Smarkets are among the top-rated software providers out there. So we can expect that the trading software would come from one of these.
Chapter 10
Security
How safe is my information on this operator?
Can hackers get hold of my personal details?
Do not panic. Be calm and read on to get answers to these queries.
Sporttrade Exchange sets the mind of its customers at rest by using the most recent SSL encryption to encrypt its website.
This makes it extremely difficult for hackers and third parties to have access to customers’ sensitive information. In addition, as we mentioned above, Sporttrade in New Jersey is licensed by the New Jersey Division of Gaming Enforcement.
This means that sufficient tests have been carried out to ensure the maximum safety of your personal details. So you can use this site knowing your information is protected.
Chapter 11
Usability of the Platform
How easy is it to use the website?
Are there any perks I need to be aware of?
Answers to these questions are given below.
The Sporttrade website design is innovative and quite impressive. We are pleased to inform you that the site is easy to navigate and every icon is easy to find.
Moreover, if you require more information about the platform, you can check the bottom of the homepage.
Also, you can check out the FAQs segment for any other questions you might have. All in all, the website has a welcoming feel to it and it is easy to operate.
Chapter 12
Our Conclusion
Want to know what we think about this betting exchange?
Find out in the read below.
Although yet to launch, Sporttrade Exchange seems like a very promising site with all the right features. With its SSL certification, it promises that any sensitive information you provide stays between you and the site.
Furthermore, it has traits of a very exciting and appealing betting site so punters can be assured of an interesting gaming experience. We can only hope that when it does launch, we do not get disappointed.
Chapter 13
FAQs
What is Sporttrade?
Sporttrade is a sports betting platform that allows users to treat betting as a form of a stock exchange. Here, players can buy and sell bets by placing bids on the ask and buy prices.
What differentiates Sporttrade from other betting platforms?
Sporttrade itself is not the oddsmaker so you are not betting against the house or anything like that. Instead, this website gives bettors an avenue to trade markets with other bettors for sports and sporting events.
Is Sporttrade Exchange legal in the US?
Depending on your geographical location, Sporttrade Exchange is legal in the United States. Players located in New Jersey are allowed to use this site whereas there are restrictions placed on other states.
Has Sporttrade exchange been launched?
Sporttrade exchange has not been launched because it is still in the works. However, plans are that it will be launched by summer 2022.
Why are my odds displayed as percentages?
This is the implied probability form of display. Percentage odds mean that lower figures correspond to riskier bets with more returns. However, if this sounds complicated, you can switch back to the American system.
