Prophet Exchange Closes Up Shop… For Now - Covers.com

Jun 25, 2024 · Prophet Exchange Closes Up Shop… For Now. The New Jersey-based sports betting startup plans to return with a new “pro-consumer” product at an undisclosed date. …

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Prophet Exchange Closes Up Shop… For Now - Head Topics

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Jun 25, 2024 · Prophet Exchange Closes Up Shop… For Now 6/25/2024 4:08 PM Covers; ⏱ Reading Time: 39 sec. here; 2 min. at publisher Quality Score: News: 19%; Publisher: 59%; …

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Sports Betting Marketplace Prophet Exchange Scores $10 Million …

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Apr 12, 2023 · Prophet Exchange launched in the Garden State in August 2022, with New York Giants Victor Cruz placing the first bet. It notably handled over $1 million in peer-to-peer Super …

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FAQs about Prophet Exchange Closes Up Shop… For Now - Covers.com Coupon?

What state does prophet exchange operate in?

While exchanges are popular in Europe, New Jersey was the only state Prophet Exchange operated in, as the regulated U.S. markets made it difficult for the company to find footing. Prophet Exchange closed its doors in the Garden State last month but is re-launching with a platform that will offer free-to-play sports betting. ...

Does prophet exchange have a sportsbook?

But only New Jersey passed regulation allowing for that type of sports betting. The other states Prophet Exchange operated in forced the company to run a traditional sportsbook instead. Then, in June, the company decided to cease operations and pivot away from the sportsbook model. ...

Does prophet exchange offer free-to-play sports betting?

Prophet Exchange closed its doors in the Garden State last month but is re-launching with a platform that will offer free-to-play sports betting. Customers receive virtual currency to start and can purchase more to enter contests to compete for real prizes. ...

Can You bet on a prophet exchange in New Jersey?

The company's previous version, which launched in Aug. 2022, allowed bettors to wager against each other rather than the house. While exchanges are popular in Europe, New Jersey was the only state Prophet Exchange operated in, as the regulated U.S. markets made it difficult for the company to find footing. ...

What states does ProphetX cover?

ProphetX will expand to states beyond New Jersey this time, including highly-populated markets like Texas, California, Florida, and the entire East Coast. The only states the sweepstakes game won’t cover are Nevada, Montana, Idaho, Michigan, Kentucky, Tennessee, Louisiana, and Alabama. ...

Does ProphetX have a sweepstakes model?

ProphetX isn’t the only company to catch on to the benefits of the sweepstakes market. Novig is another sportsbook that chose to opt into the sweepstakes model and just like ProphetX launched on the eve of the NFL season. Born in Silver Spring, Maryland, Ethan has previously written industry articles for Forbes Betting. ...