Sports betting exchange Tradesports is eyeing at the expanding US sports betting market and has confirmed plans to make a comeback.
At Tradesports the markets are currently open for trading. The football games are taking place on Sunday, 8 December. The company has said that to begin with it will be coming up with a Beta version – covering three NFL games – which would be a free-to-play platform before it rolls out its real-money contests. Tradesports could launch their real-money contests in the first quarter of January 2020.
A Tradesports media representative explained Casino.buzz in an exclusive email: “For the first week, we’ll have three NFL games and three propositions within each game, so there will be 9 total propositions that participants can trade on for the first week. For subsequent weeks, the beta tournament will primarily focus on NFL games but may include other sports matchups as well.”
During the initial Beta stage, Tradesports will host weekly contests where players could get in the game with $5,000 in virtual currency. The player who wins the maximum will eventually be handed a cash prize.
Tardesports will be giving away weekly cash prizes. Each player’s virtual currency bankroll will reset at $5,000 for the next week’s contest, and players will have another opportunity to win a cash prize.
What makes Tradesports exclusive in the US sports betting market is the fact that punters will be able to trade betting shares depending on the prospective result of a given sporting event.
Betting Exchange And Tradesports
A typical sports betting exchange is a platform where players trade shares, which is pegged to the speculated results of a sporting event.
Tradesports, as a betting exchange, was first launched by Ron Bernstein about 20 years ago in Ireland. It did target US customers, but with sports betting being illegal, the platform pulled out of business but resurfaced again in 2014.
The exchange was in business for over a year, but eventually, the company failed to keep the players interested.
Now it is preparing to make a comeback at a time when the US sports betting market is taking quantum leaps after the US Supreme Court legalized sports gambling last year.
Commenting on the prospects of the sports betting exchange platform, founder Ron Bernstein says: “As long as we can create an offering that isn’t too intimidating, we think there’s a really big niche in the professional trader market. But you can broaden the definition of a ‘trader’ to include anyone who uses Charles Schwab or TD Ameritrade. Everyone trades now.”
Sports Betting In The US
Ever since the US Supreme Court legalized sports gambling in 2018, the US sports betting market is inching towards becoming a multi-billion dollar market.
Currently, 19 US states have legalized sports betting while several others are in the process.
Investment firm Morgan Stanley estimates that the regulated sports betting market in the U.S will generate close to $7 billion in revenue by 2025.