The gambling honcho Caesars Entertainment has reached an agreement that seals off the Prophet’s New Jersey-based sports betting exchange. The 12th of July saw the big announcement being made by the chief operating officer, Jake Benzaquen, and the chief executive officer, Dean Sisun of the Prophet. The 2021 NFL and college seasons will see the launch of betprophet.co, a peer-to-peer network for sports wagering by the Prophet.
An innovative rollout will have its initial season in New Jersey, while plans are for expansion for 2022 in Indiana. This will be furthered with rollout calls across multiple states in the U.S. in the future. Prophet has a public API designed for offering services across various platforms from the web, Android, to iOS. The United Kingdom had been the serving base for the Prophet for multiple years before it made its way to New Jersey in 2018. This is where the U.S. market was first exposed to the technology and the team that the Prophet had brought to the stateside.
Dean Sisun quipped his take on the agreement that finally saw the light of the day where he corroborated the company was elated at the prospect of a 2021 football season launch. He highlighted the principles of the Prophet that abides by simplicity and follows to the core the rules of sports betting. A move that has entitled Prophet to rise as an exchange for sports betting driving on choice. He also stated how the company heralds what is best for the customers from experiences to the market prices on offer.
A +100 odds event will also entail customers’ leniency in placing spread and total market bets, thereby not limiting the action regarding creating their odds for markets on offer. For example, a game of -6 for a spread can be offered at -5.5 under Prophet. This is where Prophet envisages customers to make offers for both total and moneyline markets.
Each year’s wager saw the state’s sports betting market in billions of dollars through mobile applications and online. A significant chunk of the share till the pandemic hit. The past 16 months have seen an explosion, with the nine brick-and-mortar casinos of the state staying shut for 2020 spring. This was followed by a period of opening that saw the capacity intake reduced for a year long. 2019 saw the patrons across New Jersey wagering 4.5 billion dollars for sports, where a massive chunk to the tune of 3.6 billion dollars was received through mobile applications and online.
At the same time, the two dozen of the state’s brick-and-mortar sportsbooks raked in the rest. A whopping 5.5 billion dollars was collected through online wagering out of the 6 billion dollars in total for 2020 when countrywide Covid-19 restrictions were in place. The lifting of restrictions across the state has brought back the interest for the nine brick-and-mortar casinos of the state.