Prophet Exchange Beginners Guide: How to Make it Pay Using an Exchange

Prophet Exchange Beginners Guide: How to Make it Pay Using an Exchange

Exchange betting may not be that well known within the US sports betting market, but their success in the European and UK markets, highlights their potential for growth in the US. Whether you are a complete betting novice, or just interested in a different style of betting, our guides will cover all of the basic info you need to make betting on an exchange profitable.

Before we continue, we want to share an amazing welcome bonus from Prophet Exchange - the first betting exchange set to go live in the USA later in the year. New users can register their interest with Prophet Exchange and receive a $200 deposit match that will be activated in your Prophet Exchange account on launch day.

Here is how to claim your Prophet Exchange welcome offer.

1.  CLICK HERE or hit the button below to register for the $200 deposit match

2. Sign up for a Prophet Exchange account by completing the really simple registration process

3. As soon as the site goes live, you'll be notified and your first deposit will be matched up to $200!

Ready to get better odds on your bets?

Making Money on a Betting Exchange

If you have been betting on sportsbooks for a while, you may have asked yourself why a seemingly straight bet isn't listed as +100 both ways. This discrepancy between straight bet pricing is how traditional sportsbooks make their money, giving you (the user) lessened odds. What if that were to change? Betting on Prophet Exchange allows users to bet on a peer-to-peer level, making all bets, straight bets (eg +100 both sides of the spread).

Betting exchanges work by allowing users to pick any game, and spread they want, creating a completely custom wager. Once the user has picked these details, they can post the bet into the betting exchange open market. In order for the bet to be active, another bettor must take the inverse of the bet. Let us break down an example for you. The New York Rangers take on the Anaheim Ducks tonight in the NHL, with the spread set at 1.5 on most sportsbooks. If you were to place a wager on the Ducks to cover this spread on a traditional sportsbook, you'd be looking at somewhere around -135/-140 odds.

However, if you decided to place this bet on Prophet Exchange (once the site launches), you'd be able to control the spread number (decrease or increase), and get +100 odds on your wager, as long as someone else is confident enough to bet on the Rangers to cover your spread.

Betting on a betting exchange exponentially increases your odds, and provides you with complete flexibility on your wagers. As long as someone pick up the inverse of your bet, your options are endless.

Betting Exchange Beginner Guide

This article is one of multiple betting exchange beginners guide articles that will be posting over the next couple of weeks. Check out our Terminology article to get the know-how on all your betting exchange need to know terms here. Interested in digging deeper into betting exchanges? Our deep-dive guide into betting exchanges can be found here and will provide you with everything you need to know about betting on a betting exchange.