When it comes to sports betting in the US, traditional sportsbooks dominate the market. However, with the advent of Sporttrade, the US will be getting its first betting exchange. It is a combination of stock trading and sports betting, and unlike traditional sportsbooks where you bet on games, Sporttrade will enable you to trade sports wagers, similar to trading stocks.
The concept may be new in the US but has been around Europe for some time and almost 7% of online sports betting revenues are derived from these betting exchanges.
Alex Kane, the CEO of Sporttrade, came up with the idea of the site back in 2016. He was of the opinion that since people without any financial know-how can invest in stocks, they can do the same for sports after a disappointing experience in sports betting when his bet was unsuccessful as his backed-up favorite was just a few strokes behind the lead after 2 rounds.
With Sporttrade, you will see percentages, not odds, and live prices are always available. A winning contract can make up to 100%. The percentages are linked to the winning prospects of a team or a player in a certain event.
While a still is yet to surface about what Sporttrade is all about, here is a brief review of Sporttrade and what we can expect from the site going forward.
How to download the Sporttrade app
If you want to place and exchange bets at Sporttrade and have complete access to the operator markets, banking, support, promotions, etc., you will need to download the Sporttrade app. The application is compatible with Apple and Android tablets and smartphones, so you should not have any problem downloading the app in either case.
To download the app, open the Sporttrade app from your mobile browser. Then, create an account or sign in to your account if you already have one and click the button to download the Sporttrade app. Next, choose the appropriate link according to your device interface and follow the directions to install the app. You can then log into your account.
Read on to learn how to create an account on Sporttrade and what perks you get when you sign up.
How to get started at Sporttrade
To get started at Sporttrade, you will be required to sign up and make an account. The link for signing up is available on the website, and once you open the link, you will be required to provide the requisite information, including your full name, date of birth, email address and home address, and the last four digits of the social security number. You will then make your user ID for your Sporttrade account and a password.
Once you are done entering the details, click to register, and Sporttrade will verify your details to establish your credibility.
Is there any Welcome Bonus at Sporttrade?
Like most sports betting and gambling sites, Sporttrade offers a welcome bonus. To avail the bonus, when you create the account, use the bonus code provided. Then, when Sporttrade verifies your details, a welcome bonus of $10 will be added to your account.
You can use this bonus on any market of your liking, including the NBA, NHL, NFL, MLB, or any college league. However, you must play the bonus once to meet the betting conditions. Moreover, you must also use this bonus within seven days of receiving it.
Another interesting aspect of Sporttrade is that the welcome bonus is in two parts. While signing up delivers a welcome bonus of $10 to your account, when you fund your account, the second part of the welcome bonus will also appear in your account.
It implies that your first deposit of up to $500 is doubled in amount and available for you to spend as part of the bonus on the site. The requirement is that you must play the available funds 25 times before you can make a withdrawal. This information is important and something you may want to consider when making a deposit.
Are there any Sporttrade promotions?
Since Sporttrade is a betting trade or exchange platform, you may not find any promotion as such on the site. However, the offered prices are quite attractive since, unlike conventional sportsbooks, the Sporttrade app does not charge a vig as interchange. However, a commission is charged for winning wagers.
The site would match the sellers and buyers at the best available prices in the market or better odds if we were to consider the conventional betting terms.
How to bet at Sporttrade
As suggested above, since Sporttrade is an online betting exchange market for sports, users can buy and sell contracts for outcomes of various sporting events. You will find the markets available 24 hours before the sporting event and can buy at the preliminary share prices.
The prices later continue to sway depending on the run-up leading to the event and the respective performance of the teams during the game. For instance, the stock price will increase if your team scores in the initial few minutes of the game. However, the price will decrease if your team does not perform well.
You can opt for buying into a team at the beginning of the season, like a futures bet. You can continue with this throughout the season but can opt to sell at any time you like. Unlike conventional sportsbooks, the option of cashing out is not limited to a limited time. Rather you can sell whenever you want.
What are the payment methods at Sporttrade?
Fortunately, Sporttrade offers secure banking systems to ensure that your payments are secure. When you make a deposit, it will appear in your account right away, while a myriad of security features are applied for the execution of the exchange. Moreover, when you withdraw, it can take up to 5 days for the amount to appear in your account. You can fund your Sporttrade account via online bank transfer, Visa or MasterCard, PayPal, Skrill, or ACH e-checks.
How do I seek assistance at Sporttrade?
The Sporttrade site has a comprehensive FAQ section that caters to a wide range of prospective user queries. To access the section, you can click on the main menu and go to the Help section. You will find helpful information on how the system works, i.e., sports betting market trade or exchange, how you can sign up, fund your account, etc.
If you have a query that is not addressed in the FAQ section, you can email info@getsporttrade.com, and someone from the team will respond to your query within 1 to 3 business days.
Is there a self-exclusion facility at Sporttrade?
Responsible gambling is an important consideration at Sporttrade, and multiple practices are available in this regard. You can opt for one of the two exclusion options, including a transitory cool-off period and permanent exclusion. You can select the cool-off option from the app’s account section if you want to step back for anywhere between one day and three months. You can also permanently close your account by contacting customer support.
Is Sporttrade safe and legal?
Sporttrade is completely safe and legal. It is under licensing by the Division of Gaming Enforcement New Jersey. The site has also partnered with Bally, the renowned casino and entertainment company.
What is the Sporttrade welcome bonus?
When you sign up and make an account at Sporttrade, a bonus of $10 is added to your account. In addition, when you make a deposit, Sporttrade will make a deposit match offer of up to $500.