Prophet Exchange, a peer-to-peer sports betting exchange that has been live in New Jersey since August 2022, is trying a novel marketing approach to persuade mobile sportsbook users to try out exchange betting.
Prophet is encouraging would-be customers to bet on DraftKings, FanDuel, and other sportsbooks that offer daily boosts. Why? Because Prophet Exchange is creating a market on the other side of the boost to guarantee profit for the bettor. Yes, the Prophet Exchange team is encouraging users to engage in arbitrage and directly leverage wagers placed at other sportsbooks.
“We don’t care about arbitrage,” said Dean Sisun, the co-founder and CEO of Prophet Exchange, which uses market makers to ensure liquidity before posting its own boosts.
