Prophet Exchange USA Review 2023: Is Prophet Exchange scam or legit?

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.

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.

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.

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.

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.

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.