Here are the basics of how it works: What is a sports betting exchange?Īs the name suggests, a sports betting exchange is a platform for exchanging bets from one bettor to another, without the need for a bookmaker to set the odds for each outcome. Traditional sportsbooks dominate the sports betting scene in the United States but there will soon be an alternative way of betting on the outcome of sporting events, with the launch of sports betting exchanges through Prophet Exchange.Įstablished in Europe for the last 20 years, betting exchanges enable bettors to back their own opinions on which teams or players will win without having to take the odds set by a bookmaker.
