New sports betting exchange launches in New Jersey

[The Buzz]

A Philadelphia-based company called Sporttrade launched its sporttrade.com platform this week in New Jersey, allowing customers to trade sporting events, like stocks, and "improve their experience, building a fair and efficient betting environment.

Sporttrade’s goal is to offer the first regulated sports wagering exchange on the U.S. market.

From the press release:

Sporttrade utilizes proven exchange technology and processes and applies them to sports betting, aimed at enhancing and democratizing the entire industry. Sporttrade will allow participants to trade sporting events like they trade stocks, drastically improving the customer experience by building a fairer, more efficient, and engaging customer experience.

"Our mission is to elevate the sports betting industry, and truly provide an all-inclusive platform designed for the customer," said Alex Kane, Founder and CEO of Sporttrade. "For two decades, retail customers have benefited immensely from unprecedented innovation in equity trading. Sporttrade was created to bring those same great benefits to sports betting, including increased efficiency, real transparency and better pricing."

As a sports betting exchange, Sporttrade will ensure a stable and open betting marketplace, to offer a fair and transparent environment. Ultimately, this means a superior sports betting experience for every customer.

Read more here: https://www.gpwa.org/article/sporttr...-jersey-239957

[baldidiot]

Didn't betfair already offer (and then withdraw) their exchange in new jersey?

If so then the crown of 'first regulated exchange' has already been taken... plus the fact betfair couldn't make it work doesn't bode well for the model.

[The Buzz]

Believe Betfair was a racing exchange:

https://www.gpwa.org/forum/us-betfai...et-254371.html