Prophet Exchange ??? 2024 Review

Author: Henri Ojala | Fact checker: Tommi Valtonen · Updated: · Ad Disclosure
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The Prophet Exchange is a new sports betting exchange platform that launched in New Jersey in the fall of 2022. The Prophet Exchange app is a new type of wagering experience, where players can bet against each other instead of the book.

All Welcome Bonuses
Bonus Bets
Deposit Bonuses
No-Deposit Bonuses
New Sportsbooks
  • 5.0/5
    Caesars Sports Sportsbook Of the Month
    $1,000 First Bet on Caesars
    Use code FINDER1000
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    ? Swift account creation
    Must be 21+ to participate. T&Cs apply. Play Responsibly. Gambling problem? Call 1-800-522-4700.
  • 4.6/5
    First Bet Safety Net up to $1,000
    Claim Bonus Now
    ? No promo code needed
    Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply. Must be 21+ to participate. Gambling Problem? Call 1-800-GAMBLER
  • 4.2/5
    Up to $1,500 in Bonus Bets if Your First Bet Loses
    Use code BONUSMGM
    Claim Bonus Now
    ? Swift account creation
    Bonus Bets Expire in 7 Days. One New Customer Offer Only. Must be 21+ to participate. Gambling problem? Call 1-800-GAMBLER (CO, DC, IL, IN, KY, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY) Call 877-8-HOPENY or text HOPENY (467369) (NY). Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800-327-5050 (MA), 1-800-BETS-OFF (IA), 1-800-270-7117 for confidential help (MI). Visit BetMGM.com for T&Cs. US promotional offers not available in NY, NV, or Puerto Rico.
  • 4.2/5
    Bet $5, Get $150 in Bonus Bets Instantly
    Claim Bonus Now
    ? No promo code needed
    Must be 21+ & physically located in one of the Eligible Jurisdictions. First time DraftKings Sportsbook customers only. Valid 1 per new customer. Min. $5 bet to receive $150; $10+ to receive $200; or bet $50+ to receive max. $300 issued as multiple equal amount Bonus Bets that expire in 7 days (168 hours), are single-use and non-withdrawable. See terms at https://sportsbook.draftkings.com/promos. Play Responsibly. Gambling problem? Call 1-800-GAMBLER
  • 4.0/5
    Bet $5 Get $150 in Bonus Bets if Your Bet Wins
    Claim Bonus Now
    ? No promo code needed
    21+, new US players only
  • 4.0/5
    Borgata Sports
    Bet $20, Get $100
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    ? No promo code needed
    21+, new US players only
  • 3.5/5
    Get Up To $100 Back On Your First Bet
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    ? No promo code needed
    21+, new US players only
  • 3.5/5
    2nd Chance Bet Up To $250
    Use code SPORTS
    Claim Bonus Now
    ? Swift account creation
    21+, new US players only

? How Does Prophet Sports Betting Exchange Work?

Rather than betting against a sportsbook, you wager against another player. You can choose your own odds and if you lose, you pay money to this player. If you win, they will pay to you. The Prophet Exchange extracts a small cut from each wager, but besides that it’s a contest between two players.

Placing A Bet At Prophet Exchange

There are two ways to place a bet on Prophet Exchange – You can be either a bettor or a layer. The bettor will wager as they would at a normal sportsbook, choosing the stake and the betting option. However, the wager will only be accepted if another player – the layer chooses to back the opposite side.

? Prophet Exchange Welcome Bonus

The Prophet Exchange bonus offer is a 50% up to $250 deposit match bonus. This means that BetProphet betting exchange will match 50% of your deposit to a cap of $250. To take maximum advantage of this bonus you should deposit $500 and receive the extra $250 on your account. The minimum deposit amount is $10, which would yield you a $5 bonus.

Prophet Excange Promo Code Available Through Link
Prophet Exchange Bonus 50% up to $250
Max Bonus $500
Min Deposit $10
Sportsbook Type Betting Exchange
Available in NJ Sports Betting
Casino Partner Harrah's Casino Atlantic City

? Prophet Exchange Promo Code

The online sports betting exchange Prophet has an automated promo code for sportsbook bonuses. You get the Prophet Exchange welcome bonus by following your exclusive link, which automatically adds the Prophet Exchange promo code, and following the instructions below.

  1. Enter the Prophet Exchange site through the green, claim bonus now button
  2. Click to register for a new Prophet Exchange account
  3. Fill in your personal details, including e-mail address, phone number, name, and last four digits of your SSN.
  4. Make your first deposit up to the amount of $500 to receive the maximum bonus

? Prophet Exchange App

The Prophet Exchange mobile app is available to download for both iOS and Android devices. The apps are fresh and will gain additional functionalities as the new sports betting app is developed further. For now, new users must be content with just the basic functionalities of the Prophet Exchange sports betting app.

? Is Prophet Exchange Legit?

Compared to traditional sportsbooks, Prophet Exchange website can sound like a strange idea, but it is 100% legal and legit. Basically, what Prophet Exchange offers is like an online auction house, where people trade bets instead of goods. Furthermore, it’s not the only betting exchange in New Jersey, as online sports betting exchanges like SportTrade and Mojo are also entering the NJ sports betting market.

? Pros and Cons of Prophet Exchange

The Prophet Exchange platform has several things going on for it, but it’s still a work in progress. However, with their partnership with Caesars Entertainment, they should have enough capital to develop further.

Bonus Prophet Exchange often has better betting odds than traditional sportsbooks

The betting exchange model gives you a chance to capitalize on what you know

Prophet Exchange offers a deposit match on your initial deposit, meaning that you can distribute your bonus funds as you like

The Online Sportsbook Prophet Exchange is still a work in progress, so all the features and betting options are not available on the app

Prophet Exchange New Jersey gives an advantage to sharp bettors, so if you are just gambling for fun, you might be at a disadvantage

Last updated:

? Prophet Exchange FAQ

What is the Prophet Exchange bonus code?
The Prophet promo code is applied automatically when you follow our exclusive link to claim the Prophet Exchange sports betting bonus: 50% up to $250 initial deposit match.
Is Prophet Exchange legal?
Yes, they are a licensed betting exchange operating out of New Jersey through the Harrah's Casino license. They've partnered up with Caesars Entertainment for a NJ online sports betting license.
What is a betting exchange?
Betting exchanges are places where people trade bets against each other. If you want to place a particular bet at certain odds, you need someone else to take the other side. If your bet wins, you'll win money from that person, and if your bet loses, you lose money to that person. Unlike traditional sportsbook, in the betting exchange model, the house only takes a small cut from the total stake.
Are there regular sportsbooks in New Jersey?
Yes, if Prophet Exchange isn't your thing, you can definitely sign up on regular sportsbooks and claim their bonuses; we recommend Caesars Sportsbook bonus, ESPN Bet bonus, and FanDuel Sportsbook bonus especially.