THE BETTING AMERICA GUIDE TO
Prophet Exchange is the newest online sportsbook to hit the NJ sports betting streets. It launched in August of 2022 and is the first betting exchange app to go live.
Prophet offers users to chance to make sports bets at a lower commission than a normal online sportsbook. That’s because it simply acts as the middle man between bettors, a model that is popular in other parts of the world like the UK and Ireland.
The Prophet Exchange peer-to-peer model also means that you can bet against a team or result unlike the traditional sportsbooks where you can only wager on a team or result. Available exclusively in New Jersey for now, Prophet will be hoping to add more states in the coming months.
WELCOME BONUS FOR NEW PLAYERS AT PROPHET EXCHANGE
Prophet Exchange is offering new users a welcome bonus for setting up an account. You will receive a 25% match up to $250 on your first deposit, giving a nice boost to your initial bankroll on Prophet.
SETTING UP A NEW ACCOUNT AT PROPHET EXCHANGE
You can register a new account on the Prophet Exchange website or through the Prophet Exchange Exchange app.
New account setup is straightforward. You will be asked to provide your name, address, date of birth, email, phone number, SSN (last 4 digits) and a bonus code if you have one to claim.
In some cases ID may be required to verify your account. This is to help protect your identity and to ensure that noone under the age of 21 can establish an account.
Do I have To Live In New Jersey To Register?
No, there is actually no restriction on creating a new Prophet Exchange account from outside New Jersey. As long as you are 21 or over you will be able to register and even make your first deposit from anywhere.
However, you won’t be able to place bets until you are physically within the borders of New Jersey.
PROMO CODES FOR PROPHET EXCHANGE
There is no code needed to claim the welcome bonus, just register a new account on the Prophet Exchange website or app to qualify.
IS PROPHET EXCHANGE LEGAL?
Yes. Prophet Exchange is fully licensed by all state gaming authorities in which it operates in the United States. There is a strict vetting process in place for sportsbooks to earn a license in the first place.
The regulatory bodies also provide ongoing oversight of the sports betting industry to ensure compliance with all state and federal laws.
IN WHAT STATES IS PROPHET EXCHANGE LIVE?
Prophet Exchange is currently available in the following states:
- New Jersey
Prophet is planning on expanding to more legal betting states in the coming months.
INSTALLING THE PROPHET EXCHANGE APP
Using your phone or tablet you can simply download the Prophet Exchange App and follow the instructions to register your account. The process is straightforward and can be completed in a few minutes.
WHAT SPORTS CAN I BET ON WITH PROPHET EXCHANGE?
Prophet Exchange has a full range of sports markets to bet on. You will find a solid mix of American and international sports in the app and on the website including (but not limited to):
- NCAA: Football, Basketball
- Motor Racing: NASCAR, Formula 1
The list of sports is updated regularly depending on the time of year so check for the specific markets available.
WHAT AGE DO I NEED TO BE FOR PROPHET EXCHANGE?
You must be 21 years or older to wager with Prophet Exchange.
DEPOSIT OPTIONS AT PROPHET EXCHANGE
Depositing at Prophet Exchange is somewhat limited at the moment, but we expect there will be additional payment methods added soon. Some of the options include:
- Online Banking
- Wire Transfer
- Cash at Counter at Harrah’s Casino in Atlantic City
You will be able to get started wagering as soon as your deposit lands – funds are typically credited to your betting account without delay.
WITHDRAWAL OPTIONS AT PROPHET EXCHANGE
Withdrawing your funds is also a simple process with Prophet Exchange. You may have to provide some additional documents to verify your identity. The minimum withdrawal amount with Prophet is $1.
HOW FAST ARE PAYOUTS AT PROPHET EXCHANGE?
The majority of Prophet Exchange withdrawals are processed within a few hours. Occasionally a withdrawal will need to be reviewed and takes a bit longer. It is usually 3-5 days for the banks to fully process the transactions and the withdrawal to hit your account.
IS PROPHET EXCHANGE SAFE?
Yes. The careful transition to legal sports betting in America has meant it is one of the most tightly regulated gambling territories in the world. Prophet Exchange customers enjoy the protection of all the hoops the legal betting operators must jump through to offer betting services in their state.
Each state has its own regulatory body responsible for the oversight of sports betting and each sportsbook has to go through a stringent and costly vetting process before being allowed to operate.
The end result is an industry where customer funds and data are completely secure.
Ready to try Prophet Exchange?
BettingAmerica.com has partnered with Prophet Exchange to bring you an exclusive welcome package for new users which is not available elsewhere.
It's easy to take advantage of this offer - just click on the button below and it will take you to the Prophet Exchange sign-up page where your bonus will be automatically applied.