Sporttrade launches sports betting exchange in New Jersey

Sporttrade, a Philadelphia-based sports betting technology company, has launched its sports betting exchange in New Jersey. This move positions Sporttrade as the first and only dynamic sports trading marketplace in the United States. Eligible customers can use it to trade in and out of positions on sports outcomes much like they would trade stocks, options or cryptocurrencies.

"We are thrilled to be live in the state of New Jersey with the first sports trading platform,'' said Alex Kane, Founder and CEO of Sporttrade. "New Jersey was the first state to launch legalized sports betting in 2018 and we are proud to be the first operator to launch a unique and differentiated product designed for sports betting and trading enthusiasts seeking a better customer experience."

Sporttrade's unique capital markets-like approach is centered around its use of market makers to provide liquidity to the exchange. Its market makers provide tight, liquid, and dynamic markets so that customers can trade both before and during games. Sporttrade also offers unique order types like limit orders which allow customers to buy or sell outcomes at customized prices.

Alex Kane added: "We set out to create a better and more modern sports betting platform tapping into Americans' passion for trading. What we've launched is the only differentiated sports betting platform in the U.S., but we believe we are defining a whole new category of sports wagering - trading sports."