A New Jersey-based sports betting exchange called Prophet has announced a multi-year market access agreement with Caesars Entertainment, and hopes to launch its peer-to-peer exchange betprophet.co, for New Jersey sports betting in the fall.
Prophet, founded by Dean Sisun, chief executive officer, and Jake Benzaquen, chief operating officer, said it would then look to launch in Indiana in 2022 after the New Jersey launch. It would then target future rollouts in additional U.S. states. The company said it would be offered on the web, iOS, Android, and its public application programming interface (API).
"We are delighted to announce our agreement with Caesars which will see Prophet launch for the 2021 football season,” Sisun said in the release. “Prophet is going to be the sports betting exchange of choice because of its simplicity and focus on sports betting principles. We are for the customers who want the best experience and prices on the market.
”Our customers will have the luxury of placing bets on spread and total markets at even (+100) odds, not being limited on any action, and also have the ability to create their own odds on markets offered. For example, if the spread on a game is -6, but you want -5.5, you can make that offer with Prophet. Same goes for both moneyline and total markets.”
Moving to the US
Prophet was formerly licensed in the UK and operated out of London. The company brought its team and technology stateside to tackle the U.S. market, which is solely concentrated on sportsbooks, the release said.
Prophet said it also allows its users to make a market through the API access, should bettors want to wager more quickly and in bulk, the release said.