• A sports betting technology business located in Philadelphia, Sporttrade made the announcement recently that it has officially started its sports betting exchange in the state of New Jersey.
• According to the company’s mission statement, the primary objective of the company is to enable users to “trade in and out of positions on sports outcomes much like they would trade stocks, options, or cryptocurrencies.”
• Sporttrade was established in 2018, and the company describes itself as a “dynamic sports trading platform.”

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State of New Jersey to New Approach to Gambling 

Customers who are eligible to do so are able to trade in and out of positions on sports outcomes through the use of the brand, which is a dynamic sports trading marketplace that is now active in the United States. 

Users are able to earn profits or trim losses based on changes in the indicated chance of an event to occur at any moment by utilizing the platform’s proven capital markets technology and infrastructure, which is used to power the platform.

Alex Kane, Founder and CEO of Sportstrade, stated that the company is proud to be the first operator to launch a unique and differentiated product designed for sports betting and trading enthusiasts seeking a better customer experience. 

Kane noted that the product was created with the goal of providing customers with a better overall experience.

The utilization of market makers to supply liquidity to the exchange is at the core of Sporttrade’s methodology, which is modeled after that of capital markets. They offer “tight, liquid, and dynamic markets” in order to facilitate “frictionless trading” for customers both before and during the games. 

Sporttrade Founder and CEO Reacts

Additionally, Sportstrade provides its customers with the ability to purchase or sell outcomes at individualized prices using order types such as limit orders. 

The company’s goal is to improve upon and develop a more cutting-edge platform for sports betting in order to capitalize on the enthusiasm that Americans have for the market. 

“What they have launched is the only differentiated sports betting platform in the United States, but they believe that they are defining a whole new category of sports wagering – trading sports,” Kane added. What they have launched is the only differentiated sports betting platform in the United States.

Trading will initially be available on Win/Loss outcomes, Spreads, and Under/Overs for the National Football League (NFL), Major League Baseball (MLB), National Hockey League (NHL), Women’s National Basketball Association (WNBA), Golf, and College Football and Basketball.

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