Bally Bet has secured a deal with a secondary sports betting market to bolster retail operations at two brick-and-mortar casinos in Mississippi.
Bally Bet announced on Thursday a partnership with PropSwap, a secondary market that allows customers to buy and sell active sports wagers. The deal will see PropSwap provide its services to two retail Bally Bet sportsbooks in Mississippi located at the Hard Rock Hotel and Casino Biloxi and Bally’s Vicksburg Casino.
Bally Bet’s goal in securing a deal with PropSwap is to increase its retail betting handle while providing customers with an opportunity to secure profit from their placed bets.
Bally Bet has used PropSwap’s empirical data to find evidence of bettors willing to wager more with a preferred sportsbook when they are confident they can profit at a fair price.
“Since PASPA was overturned in 2018, PropSwap has been uniquely positioned to provide a fun experience, and more importantly, a margin improvement to both sportsbooks and their customers,” said PropSwap CEO and founder Luke Pergande. “We are forever changing how people wager on sports. Your bets no longer need to win to get paid. They simply need to improve. This concept changes everything for a gambler.”
PropSwap generates revenue by taking a 10% commission fee on the sale price of a sports betting ticket. The company also drives revenue from a 3% fee on all account deposits.
As of March 2025, PropSwap has gained market access to more than 20 states.
A new advisor joins PropSwap
In addition to securing a deal with Bally Bet, PropSwap has bolstered its advisory team.
PropSwap has announced the appointment of gambling industry expert and consultant Dustin Gouker as an advisor to the company. Gouker will provide his expertise to help drive further growth for PropSwap as a leader in the secondary betting market space.
“PropSwap has been an innovator in sports betting, and I am excited to help the company in the next phase of its growth,” Gouker said on joining PropSwap as an advisor. “Deals like this with retail sportsbooks in a state with legal sports betting are a testament to what Luke and the team have built, and their desire to help grow the regulated industry.”
PropSwap denied by Nevada regulator
The secondary sports wagers market has solidified its footprint in Mississippi after receiving an unfavorable ruling from a regulator in America’s oldest regulated sports betting market.
Last May, the Nevada Gaming Control Board (NGCB) rejected a proposal from PropSwap to allow the trading of sports bets by licensed operators in the state. PropSwap submitted the proposal after initially being banned in 2021 by the NGCB for operating unlawfully.
The NGCB determined PropSwap’s operations were illegal for operating without a license.
PropSwap attempted to circumvent its lack of licensing in May 2024 by creating a new “betting ticket resale service provider” category in its rejected proposal to the NGCB.
The NGCB also cited wagering demand concerns for its rejection of the proposal.
