Sporttrade score
- No limits
- Low juice on lines
- Solid mobile app
- Not available 24 hours
- Low liquidity on live markets
- Limited bet types
| Bonus offer | 4 | |
| Betting variety | 4 | |
| Mobile experience | 4.5 | |
| Payment options | 3.5 | |
| Betting experience | 4 | |
| Support | 3.5 | |
| Summary | 3.9 |
Sporttrade Review
Along with Prophet Exchange, Sporttrade became one of the first and few betting exchanges to launch in the US in 2022.
A novel concept among US sportsbooks, betting exchanges allow the player to back or lay wagers in a peer-to-peer format.
That means that with Sporttrade, users get very high-value lines and aren’t limited as they would be on more typical betting sites.
On the downside, users don’t get to place parlay wagers and live betting is dependent on the level of liquidity placed on a given market.
That being said, we think Sporttrade (sometimes incorrectly pronounced as Sportstrade) is a great execution of the peer-to-peer betting concept and recommend giving it a try if you’re interested in exchange betting.
Don't miss the How Sporttrade Works section below if you want to better understand betting exchanges.
Try Sporttrade if… 👍
- 🔢 You want the best possible odds
As a betting exchange, Sporttrade is mostly a host for bettors to back or lay wagers. This means that you're not betting against the book. Instead, you're betting against your fellow users.
This means that the odds on Sporttrade have very little juice.
While Sporttrade does add what it calls a “commission” on trades, it still provides much higher-value odds than the typical sportsbook.
- 🧠 You’re an experienced bettor
Exchange betting isn’t exactly for the faint of heart, but that’s okay. Trading in and out of positions in order to give yourself the best value can be remarkably fun and valuable if you know what you’re doing.
When you throw in the fact that Sporttrade doesn’t limit players, it has to be one of the best options for sharps who really know what they’re doing to get a different experience on a new online sportsbook.
Avoid Sporttrade if… 👎
- ➕ You want to place parlays
As is the nature of betting exchanges, you can only back or lay positions one at a time. There needs to be someone doing the inverse action of you for there to be liquidity in that market.
That means you can’t get quite as creative as you might like when putting together parlays, teasers, or Same Game Parlays, which are quite popular among most sports bettors.
Sites like Bet365 and BetMGM excel at parlays, so if you want to place wagers like these, you may want to check them out.
- ⏰ You want to bet whenever you want
This is a little tricky and a bit of an unforced error on Sporttrade’s part. Since the exchange is attempting to mimic a stock trading platform, it isn't open 24/7.
Instead, Sporttrade is available for trading from 9 AM-12 AM Eastern Standard Time. This means you won’t be able to trade in and out of positions for late games on the West Coast or some European soccer matches.
Almost all of the sports betting sites in the US are available for use 24 hours per day, so this is a bit of a let-down.
Sporttrade is still a relatively new platform, so we hope this is fixed in the future.
One of the things I really like about Sporttrade is you won't ever have to worry about the "Cash Out" button being unavailable. As a sports betting exchange, you can buy or sell your positions at any time based on what the market is willing to pay for it. This gives you greater flexibility and control over your bets.
Sporttrade Promo Code
Unlock up to $300 in withdrawable cash back with our exclusive promo code SBOST when you sign up with Sporttrade in Colorado, Iowa, or New Jersey.
Unlike traditional sports betting sign up offers, Sporttrade offers a unique opportunity - 10% of your wagered amount during your first seven days on the exchange will be tracked in your portfolio.
After this initial week, the accumulated 10% of your tracked stakes transforms into withdrawable funds available for you to cash out.
What sets this promotion apart is the absence of a turnover requirement, allowing you to enjoy your bonus money without any mandatory playthrough.
While unlocking the full $300 bonus may require a substantial wagering commitment, it remains one of the closest things to free money available among online sportsbooks today.
Remember to use our promo code SBOST to qualify for this promotion.
Where is Sporttrade Legal?
Sporttrade is currently legal in the following states:
- Arizona
- Colorado
- Iowa
New Jersey
Virginia
It should be noted that in most states, Sporttrade currently only functions as a typical sportsbook. This is due to state regulators still hammering out the details of legislating the peer-to-peer nature of betting exchanges.
It's expected that once these regulations are set in stone, Sporttrade will re-launch as a proper betting exchange as it is in New Jersey.
Sporttrade Apps
The Sporttrade betting app interface
The Sporttrade app, available for both iOS and Android, is easy to use and looks like a mix between a sportsbook and a stock exchange. It's focused on keeping it simple and user friendly, so there's not a lot of wasted space.
Sporttrade iPhone App
- Available on the App Store
- 4.6/5 user rating
Sporttrade Android App
- Available on Google Play
- 3.8/5 user rating
The app has four main sections - Markets, Portfolio, Futures and Account.
In the Markets tab, you can see live and upcoming games. Odds are shown as probabilities, which is easier to understand than the American odds you might see in other places.
You can click on any bet to buy it or set your own price; Sporttrade makes this really easy to do.
In the Portfolio tab, you can see your bets and sell them. Sporttrade is based on financial app technology, so this section is very similar to a financial app.
The Futures tab is like the Markets tab, but it only shows bets that aren't going to settle soon.
In the Account tab, you can manage your money, set responsible gaming limits, and customize the app. You can do a lot here, like change the app's appearance, see your betting history, deposit and withdraw money, and even turn on a more advanced trading mode.
Our dedicated page on sports betting apps will let you see how Sporttrade stacks up against other online sportsbook apps.
Sporttrade Payment Methods
Sporttrade doesn't offer a great deal of options for making deposits and withdrawals. However, the short list it has provides enough options that should make it easy for any user to get started.
Method | Dep/With | Min. | Fee |
|---|---|---|---|
Online Banking | ✔️ | $5 | None |
PayPal/Venmo | ✔️ | $5 | None |
Cash (NJ only, at Bally's Atlantic City) | ✔️ | $5 | None |
Credit/debit cards | ❌ | - | - |
Most deposits will show up almost instantly. However, withdrawal times vary. PayPal and Venmo withdrawals should appear quickly, while online banking withdrawals can take 3-5 days. Depositing and withdrawing in cash is instantaneous.
How Sporttrade Works
As a sports betting exchange, Sporttrade allows users to trade sports bets much like they would trade stocks, options, or other financial instruments on a traditional stock exchange. It offers a novel approach to sports betting by emphasizing liquidity, transparency, and flexibility. Here's a detailed explanation of how Sporttrade works:
🤝Sporttrade is different from a traditional sportsbook in that it does not set the odds or take bets against the user. Instead, it facilitates a marketplace where users can trade positions on sports outcomes directly with each other. Sporttrade acts as an intermediary, providing the platform and infrastructure for these trades.
💵Sporttrade functions similarly to a financial market, where users buy and sell contracts (which are essentially bets) on the outcomes of sporting events. Each contract represents a potential outcome of a game or event (e.g., "Team A wins"). These contracts can be bought or sold at prices determined by the market participants.
- Prices Represent Probabilities: The price of a contract on Sporttrade reflects the market’s perceived probability of that outcome occurring. For instance, if a contract for "Team A to win" is trading at $60, the market believes there’s a 60% chance of that outcome occurring.
- Price Range: The price of a contract ranges from $0 to $100. A contract worth $0 indicates no chance of the event happening, while a contract worth $100 indicates certainty that the event will occur.
📈Users can take two types of positions:
- Buying (Going Long): When a user buys a contract, they are betting that the event in question will occur. If the event happens, the contract's value will rise to $100, and the user can sell it at this higher price to lock in profits.
- Selling (Going Short): Conversely, users can sell a contract (shorting), betting that the event will not occur. If the event does not happen, the contract’s value will drop to $0, and the seller will profit.
📃Just like in a stock market, users on Sporttrade can place different types of orders:
- Market Orders: Executed immediately at the best available price.
- Limit Orders: Users set a specific price at which they are willing to buy or sell a contract, and the trade will only be executed if the market reaches that price.
- Stop Orders: These orders are triggered when the market hits a certain price, which can help users manage risk by automatically exiting a position when certain conditions are met.
🔑Liquidity is key in a betting exchange like Sporttrade, as it determines how easily users can enter or exit positions. Sporttrade encourages liquidity through market makers—users or institutions that continuously provide buy and sell quotes for contracts, making it easier for others to trade.
⏰Sporttrade allows users to trade contracts while a game is in progress (in-play trading). This feature enables users to react to live events, such as injuries or changing weather conditions, and adjust their positions accordingly.
💰Bettors can close their Sporttrade positions at any time before the event ends by selling their contract back to the market. The value at which they close their position will depend on the current market price. For example, if you bought a contract at $40 and it's now worth $80, you can sell it to realize a profit of $40.
🎉Once the event concludes, contracts are settled based on the actual outcome:
- If the outcome occurs (e.g., the team you bet on wins), the contract is settled at $100.
- If the outcome does not occur, the contract is settled at $0.
Profits or losses are then credited to or debited from the Sporttrade bettor's account based on the difference between the purchase price and the settlement price.
🧰Sporttrade provides tools for users to manage their risk, including:
- Hedging: Users can take opposite positions in different contracts to offset potential losses.
- Stop-Loss Orders: These orders automatically close a position at a predetermined price to limit potential losses.
🔎One of the key advantages of Sporttrade is its transparency. Because it operates as an exchange, the prices and odds are determined by market forces rather than by a bookmaker. This means there is no hidden margin, and users are trading directly against one another, making for a fairer betting experience.
Sporttrade FAQ
Yes. Sporttrade is perfectly legit, legal, and available as long as you are over 21 years of age and physically located in a state where it is active.
Sporttrade is currently legal and licensed in Colorado, Iowa, and New Jersey.
No, Sporttrade does not limit players.
Users can download the Sporttrade app for either iOS or Android. Using the app is the preferred method, as a web interface isn't fully available.
Sporttrade doesn't charge a vig - or juice - in the traditional sense. Instead, Sporttrade charges a fee when you sell a bet for a profit or when your bet wins and makes you money. Right now, it charges 2% of the profit you make. But this could change in the future.
Hailing from the San Francisco Bay Area, Ian has been a passionate fan of the Giants, Warriors, and 49ers since childhood. His deep love for sports inspired him to join Sportsbooks Online in 2021, where he discovered and cultivated a new passion for the iGaming industry. Now an expert in online sportsbooks and casinos, Ian's insights and expertise have been featured in numerous iGaming publications.
Ian also contributes sports betting and online casino content in the US market on our sister sites UnitedGamblers.com and BettingApps.com.
