Prophet Exchange has announced it will be launching its peer-to-peer betting services in Ohio after the state goes live with its sports betting market next year.
Already operational in New Jersey, the operator has stated that it is aiming to go live in the Buckeye State in the first half of 2023 following the January 1 opening of the Ohio sports betting market.
Prophet Exchange is also partnering with the Columbus Blue Jackets in the Buckeye State.
“After our hugely successful debut in our home state of New Jersey, we are thrilled to bring the exchange betting model to Ohio,” commented Dean Sisun, Co-Founder and CEO of Prophet Exchange.
“Although commonplace in markets like the UK, exchange betting is a brand new concept in the United States—and our expansion is another big step in our mission to become the mainstream sports betting platform in the country.”
Prophet Exchange allows users to set prices or place bets on prices already set by other users. It doesn’t add margin or vig to its odds and sets no limits to wagers, as long as customers have a counterparty to match their bet.
Acting as an intermediary, the operator offers moneyline, spread, and total markets for NFL, NBA, NHL, MLB, and NCAA football and basketball games.
“Ohio is set to become one of the biggest sports betting markets in the nation, so we are delighted that bettors will be able to take advantage of our superior pricing in the new year,” added Jake Benzaquen, Co-Founder and COO of Prophet Exchange.
“We’re also very excited to partner with the Columbus Blue Jackets, whose major league pedigree will bring greater attention to exchange betting, and help Ohio bettors make more money from their wagers than they would with traditional sportsbooks.”