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Online Gambling USA / Prophet Exchange Review

Prophet Exchange Review & Bonuses 2024: Honest US Ratings For Sports

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User Reviews 14

You may find several Prophet Exchange reviews on the internet, but none as comprehensive as GamblingGuy’s assessment. This operator is set to debut in NJ as the first of its kind in the US. It’ll be offering betting exchange services.

Although a foreign concept for many, it’s a lot easier to grasp than you think. The site has a simple and classy outlook and already offers an exciting welcome bonus, alongside other perks. We can hardly wait to meet the Prophet!

Read More
Payment Methods
License
New Jersey (US)
Accepts Customers from
Players from Virginia not accepted
Company
Stake Trade, Inc
Founded
2018
Website
prophetbettingexchange.com
Available Languages
EN
Customer Support
Email Support
Email
hello@betprophet.co
Phone
866-686-0377
Overall Rating
Rating follows
  • Bonus Offers & Free Bets
    4.6/5
  • Usability, Look & Feel
    4.1/5
  • Payment Methods
    4.4/5
  • Customer Service
    4.5/5
  • Licence & Security
    4.3/5
  • Rewards & Loyalty Program
    4.3/5
Susan Morris
24/10/2023
My best part is their agent
"There are many exciting features in the platform and lots of fun playing games and stakes. but all this would have not matter if they ..."
Darwin
20/10/2023
Good site but needs an app
"The prophet bet site is really nice and well laid out. the color and animation are cool. everything is smooth on here"
User Rating
4.0/5
14 User Reviews
5 Stars
28.6%
4 Stars
42.9%
3 Stars
28.6%
2 Stars
0.0%
1 Star
0.0%
Last Updated on 29/02/2024
Fact checked by: Jesse M Cox

Latest Prophet Exchange Sign-Up Bonus: Offer

Bonuses and online gambling sites are like bread and butter. They make for a tastier experience. These incentives provide bettors with additional cash or bet credits to wager on their favorite games. If you’re lucky, it could spell more chances to rake in wins.

At Prophet Exchange, a 100% Deposit Match up to $200 is available as a welcome bonus for first-time bettors at the site. This sports betting exchange is yet to launch in New Jersey, so the bonus offer is an exclusive launch offer. There are no bonus codes needed. It will be immediately available to NJ players who join in once the website goes live.

Bonuses often have terms and conditions attached to claiming them. However, as the site isn’t up and running yet, we don’t have access to these details. You can check back for updates. We’ll be adding the necessary info as soon as it becomes available.

Usability, look & feel - A minty breath of fresh air

We’ll be seeing the Prophet sports betting exchange launch in NJ anytime soon, but the website is already up on the web. So we got a teaser of the design and it’s fresh, airy, and minty green.

The mint green brand color stands out in the white background, and it’s pretty clear that their goal is to have an approachable look. It can be nerve-wracking for newbies to find their way around cluttered and busy platforms, so the minimalism on display is a breath of fresh air.

Prophet Exchange will be launching via mobile iOS and Android apps, so you can bet on the go. The mobile experience is customized to suit compact screens. You can navigate using the quick links at the bottom of the screen. You can monitor your deposits and withdrawals from the ‘Account’ tab, ‘Browse’ games and available markets, then request or cancel bets under the ‘My Bets’ tab. While betting exchanges are noticeably different from traditional sportsbooks, the actual betting process is easy, regardless of whether you choose to be a bettor or oddsmaker.

Other aspects of its layout will be clearer once the site goes live. However, judging by the efforts to keep players informed with a blog, an educational page, and a help center, it’s safe to say the interface will take the same customer-forward approach.

Payments - The first step to your experience with the Prophet

Prophet Exchange is a real money betting site, so payment methods are at the top of the scale. You’ll need a funded account if you wish to bet on your preferred markets or create your own odds prices for others to match.

The deposit methods expected at launch include Online Banking via Trustly, PayPal, and Venmo. Wire Transfer and Cash at Counter will also be available. To use cash, players have to head to Harrah’s Casino Atlantic City. But make sure you contact support beforehand, as your request will first be processed online before the transaction is completed at the cage.

Debit and credit cards are significantly absent from the list of payment methods. However, Trustly online banking serves as an excellent alternative to draw funds directly from your bank without using a card.

The operator applies a minimum of $10 for both deposits and withdrawals. Maximum limits on the other hand are not specified. The Prophet is against limiting players and boasts this as a major highlight of the experience. You’ll be able to deposit or withdraw as much as you like or according to the restrictions imposed by the payment provider. Deposits are typically instant, while most withdrawals are processed within a few hours. Some payout methods can take up to five business days.

Customer service - great customer relations

We immediately sensed a welcoming atmosphere upon accessing the Prophet Exchange site. And our instincts were spot on, as the Prophet urges you to consider the exchange “as you would a local bar or restaurant.” Currently, you can reach the support team via the Contact page. This leads to a telegram form in which you can enter your name, email address, and the message or inquiry you’d like to communicate to the service. The second option is to simply forward an email to hello@betprophet.co.

That’s not all the exchange has in store. Once it finally launches, New Jersey punters will get access to a slew of other contact mediums. Support will become available via live chat, telephone, and social platforms. The social networking platforms of the operator include Twitter, Instagram, LinkedIn, and YouTube.

Support hours are from 10 am – 12 am EST. So it’s not round the clock. Fortunately, there’s a detailed help center that may provide the answers you need. In fact, a good idea would be to browse through the help center first before contacting the exchange directly. The help center is basically a directory of frequently asked questions and they have taken the initiative to separate the information into categories. You can easily find answers to all the important inquiries about the exchange, betting accounts, payments, bonuses, and more.

License & security - The first legal betting exchange in the US

Legitimacy is the most important factor we consider here at GamblingGuy. We only promote legal gambling sites, as these are the safest choice for bettors. Prophet Exchange is on our radar precisely because they meet this criterion. The site is licensed by the New Jersey Division of Gaming Enforcement (NJDGE).

Prophet Exchange was founded in 2018 by Stake Trade Inc. It was previously London-based and featured a UKGC license. The company has now moved to New Jersey, supported by a deal with Caesars Interactive Entertainment New Jersey that would see it launch its peer-to-peer sports betting exchange online. Affiliation with such a reputable group is more proof of its legitimacy. This alone puts our Prophet Exchange ratings pretty high.

Its legal status also indicates a high level of security. There are stringent processes to getting a New Jersey license, many of which are geared towards guaranteeing customer protection. The site and all related apps are operated by Stake Trade Inc. in line with necessary regulatory requirements within the state. Also, verification and responsible gambling measures are in place to prevent underage bettors and curb the activities of those with gambling problems.

Rewards & loyalty program - Perks of choosing the exchange

Since the site is yet to launch, we found no details regarding a rewards program or ongoing promotions. But it wouldn’t be far-fetched to expect one from Prophet Exchange. They’ve partnered with Caesars, a group that doesn’t shy away from rewards and loyalty schemes. This attribute may very well rub off on them. We’re keeping our ears to the ground, so we’ll be the first ones to know of any such incentives when the site is up and running.

Betting markets

Prophet Exchange is poised to offer the most popular betting markets. However, this will be limited to straight bets. The way betting exchanges work is designed for straight bets such as Moneyline, Spread and Over/Under (Totals). These markets are precisely what the Prophet provides and will be available on NBA, NCAAB, NCAAF, NFL, NHL, and MLB games. Typically, you can pick a game and set your own price on any of the above-mentioned. Using a spread bet scenario, you can offer a bet on Team A at -3.5 (+100). Another user should be willing to take the inverse by betting Team B at +3.5 (+100). Once a bettor claims the action on your offered bet, it becomes active.

You can also simply play the bettor and put money down on an existing price. The preview provided on the site’s homepage displays the three available markets for an NFL matchup of Jets vs. Giants. Bets offered for Moneyline, Spread and Totals are shown with back (offered bet) and lay (inverse bet) prices displayed in green and blue respectively. It also reveals how much liquidity is left for the bets, and how many people are trading on the markets.

You won’t find parlay and teaser bets at the exchange and it’s unclear whether this will change in the future. This isn’t all bad, though. Unlike regular sportsbooks, the exchange is geared towards sharp bettors who take advantage of single bets to increase winning chances in the long run. Prophet Exchange only takes a commission on winning bets, not on lost ones. It is designed for profit-inclined bettors, which explains why it places focus on straight bets rather than accumulators.

Odds

The differentiating factor between betting exchanges and a standard sportsbook is the odds prices you can get. It’s kind of like where DFS combines with binary trading odds, as you’ll find in our Jock MKT review. Prophet Exchange allows much better prices than the competition. For instance, +100 odds on spreads and totals isn’t something you’d normally see at a sportsbook. However, it’s pretty easy to find such value when betting with the Prophet.

Also, the default setting at Prophet Exchange will execute Moneyline bets at the most advantageous odds at any time. When you don’t find a price you like, you can simply make a request on your own odds and wait for others to claim the action.

We’ll be able to give a better review of the odds formats when the site launches.

Live betting & streaming

Live bets are allowed at Prophet Exchange so you’ll be able to flex your in-play betting skills here as well. As usual, live bets are trickier than pre-match wagers. Odds fluctuations and delayed live coverage may hinder your bets from being placed correctly. So make sure you double-check and accept odds changes when betting in-play.

More on the live streaming service will be available when the operator goes live in New Jersey.

Limits

There are no max bet limits imposed at the exchange. All player levels are welcome, from the low rollers to the whales. The only limit you’d face is the amount of liquidity (the maximum amount left to request a bet on) left on any given market or your preset deposit limits.

Product summary & conclusion

Prophet Exchange is on its way to pioneering peer-to-peer sports betting in the US, and it’s bringing along with it holy grail features. Better prices, lower vig, zero limits, and market-making capabilities are just some of the perks of choosing to bet at the exchange. All these add tremendous value to bettors in the long run, and the more profit-inclined you are, the better. The trade-off is that not all sports are covered and only a few bet types are available. Nonetheless, as established in this Prophet Exchange review, the operator promises a different kind of sports betting experience, one that you certainly won’t want to miss.

Prophet Exchange Review FAQ

💯Can I trust Prophet Exchange?

It hasn’t been around a long time. It was originally based in the UK but recently moved stateside to provide bettors in the area with a unique experience. With so many scams out there, it’s increasingly important to bet with the most trustworthy operators. Prophet Exchange is licensed by a relevant regulatory body and implements robust security measures. Find out who regulates it and what safety protocols are available in our detailed GamblingGuy review.

🏆How to bet at Prophet Exchange?

Prophet Exchange isn’t your regular online sportsbook so there are a couple of peculiarities in how to bet on the platform. As a betting exchange, it provides the opportunity to be a bettor. It also allows punters to take on the role of oddsmaker. That said, it’s quite easy to place bets here. You’ll learn the simple steps to it in our review.

🏀Which sports are covered at the Prophet betting exchange?

Bettors can find several popular sports to bet on at Prophet Exchange. The betting exchange covers most of the ones available at traditional sportsbooks. You can also find all the most talked about league events. Best of all, you get access to player-favorite markets with the best odds. Check our review to see if your favorite sports are covered.

🎁What is the Prophet Exchange NJ bonus?

Betting exchanges have several favorable sports betting features. That’s why they tend to not have as many bonuses and promos as standard sportsbooks do. However, Prophet Exchange does in fact offer an exclusive launch offer. This bonus will be available for new customers who sign up on the platform. Learn more about the amount offered and any relevant terms and conditions.

🚀When is the Prophet Exchange New Jersey launch?

Prophet Exchange partnered with Caesars Interactive Entertainment New Jersey to bring its services to NJ punters. The exchange will go live via Android and iOS apps accessible only in the state. A lot has been planned for the launch including an exclusive welcome bonus and unique betting features. It is scheduled to launch in Indiana right after. Read our review to find out the D-day and be among the first to benefit.

Overall conclusion - A promising experience

Drawing up a perfect conclusion is hard to do since the site hasn’t been launched, and there are no real customer Prophet Exchange reviews to go by. Nonetheless, many things seem to be pointing in the right direction. The design elements and layout, at least the sneak peek we got, are excellent. Even with limited information, it’s already easy to see their customer-inclined approach.

A decent welcome bonus is available to commemorate the launch, and several reliable payment methods are provided. For bettors wondering, Is Prophet Exchange legit? Is Prophet Exchange reliable? We’re convinced that it’s a safe haven thanks to its legal status. Best of all, Prophet Exchange presents a unique way to bet which sets it apart from the conventional sportsbooks. This will be the greatest highlight for many. Another betting exchange brand option could be Sporttrade.

This gambling platform caters strictly to sports betting, so it doesn’t provide a casino product. For local NJ apps offering casino games, you can check out our Pulsz review and Hollywood Casino review.

User Reviews for Prophet Exchange

4/5 – 14 User Reviews
  1. easy to use and win
    Jonny Ray

    I’ve won quite a bit here already and only been playing a few weeks! It’s very fair

    I don't think the welcome bonus is quite as competitive as it could be
  2. great bonuses
    T. Krotchko

    the welcome bonus is great and easy to use, and regular players also get some bonuses too so you feel valued and engaged

    the payment of your winnings into your bank can be a little slow
  3. very exciting
    Darren Coppit

    lots of great sports to place bets on and the odds are very fair

    -
  4. brilliant
    Carl Jipsen

    i love the selection of sports here to bet on, all my favorites are here!

    -
  5. standard bonus and slow withdrawal time
    Kurt Myatt

    the platform offers a welcome bonus identical to what you see in almost every operator, but the advantage is that you don’t need any promotional code, something I usually forget

    ridiculously slow withdrawal time
  6. new player bonus is mangable
    Alana

    the new player bonus could be better but over all, the site is quite good.

    -
  7. Average Sportsbook
    Khalil Norman

    The odds are always the same with others in my state, so nothing special from playing here

    -
  8. Amazing betting options
    Ruth Gray

    The betting options are quit extensive and I love it

    -
  9. Helpful tips!
    Mason

    The site provides informative betting tips and analysis, helping users make more informed decisions when placing their bets.

    -
  10. bonus is just ok
    Elizabeth Bowen

    the bonus isn't very generous
  11. The verification is slow
    John

    the platform is good and well designed.

    the verification for withdrawal is a bit slow
  12. Only two things missing
    Agnes Thompson

    Overall great platform and opportunity to play and win a lot of prizes multiple times.

    The two issues i have for giving 3 stars only is because there is no VIP rewards for playing frequently and there is no app. when these two come, I'll update my reviews immediately
  13. Good site but needs an app
    Darwin

    The prophet bet site is really nice and well laid out. the color and animation are cool. everything is smooth on here

    It just needs an app to make it all perfect
  14. My best part is their agent
    Susan Morris

    There are many exciting features in the platform and lots of fun playing games and stakes. but all this would have not matter if they did not provide good support and they do! their agents are so kind and they calmly attend to my questions and issues no matter how many times I ask. love it

    -

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Legal Notice

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

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