Sporttrade Promises Speed, Liquidity With Launch Of NJ Platform

Sporttrade officially launched in New Jersey on Thursday. It's the second sports betting exchange wagering platform to go live in the Garden State since the beginning of August. New York is the first state with legalized sports gambling to approve Sporttrade for trading on live sports. Prophet Exchange went live there in late August, but Sport trade views itself as an institutional-grade sports trading platform with similar characteristics to a stock or cryptocurrency exchange.

Sporttrade has launched a platform for New Jersey traders. It works like an intermediary between buyers and sellers. For example, the Milwaukee Brewers are the moneyline favorites against the St. Louis Cardinals in Wednesday's Major League Baseball game. If the Brewers win, a player will get $45 minus a 2% commission.

Sporttrade is an open marketplace where market makers are used to match buyers and sellers. The market maker is licensed and they are fully funding the participation on the menu. The spreads are in the range of 50 cents to a dollar per trade. Sporttrade has been pleased with the performance of the exchange and the manner in which people are using it. It is also able to take on sizable bets. Sports Handle is a sports website. For more information, visit SportsHandle.com. . In the Brewers-Cardinals game, the market participants are choosing between buying and selling the team at $54 and $56.

Sporttrade has already gained market access in two states: Colorado and Louisiana. The company is targeting mid-2023 for expansion beyond New Jersey. The platform accepts limit orders. A limit order allows someone to buy or sell at a specific price. On Wednesday, the Cardinals took a 2-1 lead on Wednesday on a single by Yadier Molina in the bottom of the second. Lars Nootbaar homered to center in bottom the fifth for a 3-2 Cards lead. St. Louis eventually prevailed 4- 1.