Prophet Exchange has launched in New Jersey after its recent licensing approval from the New Jersey Division of Gaming Enforcement. The New Jersey-based peer-to-peer sports betting exchange is the first to be established in the United States.
Prophet Exchange offers users access to moneyline, spread and total markets for NFL, NBA, NHL, MLB, NCAA football and basketball games. The company plans to add additional markets as the exchange gains traction.
Bettors can set their own prices on Prophet Exchange because it takes no risk. Those placing wagers are also able to place bets on prices that have been set previously by other users, a feature that distinguishes Prophet Exchange from other traditional sportsbooks.
Prophet Exchange Co-Founder and CEO Dean Sisun said: “There is an overwhelming amount of emotion I feel for Prophet officially launching as the first fully regulated, peer to peer betting exchange in New Jersey.
“This has been a monumentally challenging journey to date, and to see it come to life is an amazing achievement for our team. That being said, this is only Prophet’s first major milestone, and we will not lose sight of our north star: becoming the mainstream sports betting platform in the United States.”
Prophet Co-Founder and COO Jake Benzaquen agreed and added that the company has been working toward a US launch for several years.
He commented: “Launching here in New Jersey is everything we’ve been working towards for four years.
“Being the first start-up and the first betting exchange in the United States regulated market means the world to us and our team here in Hoboken, and globally. We cannot wait to show the public who we are and what our product offers to the market here in New Jersey and beyond. As we say here, to the moon.”
NFL World Champion Victor Cruz took a moment to comment about his experience placing the first wager on the new exchange.
He said: “Prophet Exchange is the sports betting platform of the future. It was great to place a bet directly with other users on the exchange without having to factor in lines that oddsmakers chose.
“I’m extremely proud to be a strategic partner of Prophet Exchange as they continue to innovate the sports betting world. Being a native of New Jersey, there’s no company I’d rather partner with. Of course, I had to bet on my Giants for my first wager.”
