Sporttrade Sports Betting And Trading Review

Updated September 2022

COMING SOON!


  • Sporttrade is bringing a new way to wager on sports to states across the US
  • Benefits are the stock trader who wants to get into sports betting
  • The pricing model is completely different from regular sportsbooks

Disclaimer: Sporttrade has yet to launch, this review is speculative based on what is known so far and will be updated when it does go live. In the meantime, we recommend these online sportsbooks:

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Sporttrade is bringing a new way to wager on sports to states across the US with an amalgamation of sports betting and stock trading. Instead of betting on games as you would at a traditional sportsbook, you now have the ability to trade sports wagers just like stocks.

Exchange betting is new in the US, but it already exists in Europe, where roughly 7% of online revenues for sports betting comes from exchanges.

Sporttrade is the brainchild of founder and CEO Alex Kane, who first got the idea back in 2016 when he was betting on the Masters at a traditional sportsbook. Kane wasn’t thrilled about how his bet on long-shot Kiradech Aphibarnrat couldn’t be turned into a profit when Aphibarnrat was just a few strokes off the lead after two rounds.

With Sporttrade you will not see odds listed as -110. Instead, odds are percentage-based and related to the likelihood of a team or player winning an event. There’s still a lot of unknowns when it comes to Sporttrade, but let’s take a look at what we do know and what we can expect going forward.

Sporttrade welcome bonus

While the sportsbook hasn’t announced anything specific, it would be hard to imagine Sporttrade launching without a quality welcome bonus to attract new users. As a new entity in the US, it likely will want to make an impression.

Sporttrade bonus code 2022

Online SportsbookSporttrade Sportsbook
Bonus CodeTBD
Welcome BonusTBD
Legal StatesComing soon: NJ and CO
Last UpdatedOctober 2022

How the Sporttrade bonus works

Since we do not know the specific welcome bonus that Sporttrade plans on offering, let’s look at how the most common sportsbook welcome bonuses work.

  • Join bonus: These offers are the easiest to understand. You merely have to open a new account and Sporttrade will provide a small amount of bonus money that you can bet with. The amount usually ranges from $10-$25. You also cannot simply withdraw this money. You must use it to bet. Typically, any money that you win from your sign-up bonus is yours to do with as you please.
  • Deposit match: A deposit match is another customary offer you may receive as a new customer. It can be tempting when you hear a sportsbook is offering to match your deposit because it sounds like free money. However, it’s not quite that simple. The match almost always comes in the form of bonus cash or free bets. You usually have to wager a certain amount of money to get the bonus, too. If you hear a term like 5x wagering requirement, that means you must bet five times your deposit in order to unlock the bonus funds for withdrawal.
  • Risk-free bet: Sporttrade also could offer you a risk-free first bet or trade. Once again, you will not receive your money back if you end up losing money on your opening trade. Instead, you’d receive credits or bonus money. This is important because you would need to bet with those funds rather than simply withdrawing them to cover your losses. Instead of risk-free bets, we like to think of these as two-for-ones. That’s because if your first bet loses, you get a second chance. However, if you go 0-for-2, you’ll end up with nothing to show for your efforts.

Sporttrade VIP loyalty rewards

Sporttrade does not have a rewards club or loyalty program at the moment. However, it would make sense that going forward Sporttrade could begin rewarding you for using its product. We’ll have to wait to see what happens in this regard.

Redeem rewards at retail locations

With no rewards program and no retail locations, there is nothing to redeem in-person with Sporttrade. When a loyalty club does start, you most likely would receive rewards like trading credits, lower fees or something else along those lines.

Yes, Sporttrade is both safe and legal. In New Jersey, Sporttrade has partnered with Bally, the casino and entertainment company behind Bally’s Atlantic City.

The plan is for Sporttrade to launch in the Garden State during the second half of 2021 before going live in other states in the early portion of 2022. In order to do that, Sporttrade will need to obtain sports wagering licenses from each state’s gambling board or commission that oversees gambling.

This means that Sporttrade will be complying with all the laws in the states where it wants to launch. For instance, the legal age to bet on sports in New Jersey is 21, and that is the case in most states. While Sporttrade is technically an exchange, and stock trading apps like Robinhood and Coinbase only require users to be 18, you will need to be 21 or older to bet/trade with Sporttrade. In addition, you also will need to be located in a state where Sporttrade is legal in order to use the exchange.

Sporttrade sports trading and betting app review

Sporttrade has yet to debut its app. While sports betting apps are important to almost all sportsbooks, it’s safe to say that Sporttrade likely will sink or swim based on its iOS and Android app.

That’s because, unlike your traditional sportsbooks, like DraftKings app or FanDuel sports app, Sporttrade does not act as the “house.” Instead, Sporttrade is simply providing a platform that matches users on both sides of the action. Sporttrade will not charge a “vig.” Instead, it will charge a small commission when your bet wins.

One of the problems that could exist with Sporttrade is the time delay between watching a game in person vs. watching on TV. A cable or satellite feed can cause a five-second delay, while streaming can be anywhere from 30 to 60 seconds behind the action. That can be a major problem if you’re trading with someone who’s at the game and you’re watching at home on your couch.

For that reason, we will be watching closely to see how fast the Sporttrade app is and how lag times could end up having an effect on your use of the exchange.

Another thing to pay close attention to is how live trading works at Sporttrade. While almost all sportsbooks now offer live betting, Sporttrade says that it will maximize the live betting experience. That’s because you’ll be able to trade both in and out of wagers at any time. In theory, this should allow you to maximize your rewards, while minimizing your risks.

Sporttrade browser review

It is likely that the Sporttrade website will offer all the same trading options that you will find on the app. It really will be more about personal preference as to whether you prefer using your smartphone or tablet to make sports trades or whether you like doing so on your desktop or laptop computer.

Overall Sporttrade user experience

It remains to be seen what the overall user experience with Sporttrade will be like. Here are potentially some of the most beneficial aspects of an online sports betting/trading website:

  • Speed: Speed is crucial for sportsbooks, but even more so for exchange betting. Imagine wanting to trade in a bet because you have a feeling things are going to shift against your team. Then when you go to do so, the site is lagging. Each time you attempt to cut your losses or cash in your winnings, you just keep getting a message that the numbers have dropped. Sporttrade must avoid this issue.
  • Instruction: While some of you might be experts in stock trading and sports betting, we’re guessing the number is actually somewhat small. That means Sporttrade will need to educate sports bettors on how exchange trading works. It also must teach traders how sports betting works. Doing this will be key to growing as a company.
  • Betting markets: Sporttrade says that it can offer better pricing than sportsbooks because “We match buyers and sellers at the best available price in the market. Not being the ‘house’ means better odds for you.” This sounds great, but what happens if you want to make a bet and no one else wants to wager on the other side? The potential lack of betting markets could pose a big issue for Sporttrade.

Creating a new account at Sporttrade Sportsbook

While betting on sports is different at Sporttrade compared to your traditional sportsbooks, the process of signing up is the same. Just head to the Sporttrade website, click the register button, and enter the following:

  • First and last name
  • Home address
  • Email address
  • Phone number
  • Date of birth
  • Last four digits of your Social Security number

Keep in mind that you must be 21 or older to sign up at Sporttrade. Sporttrade will use the information you submit to verify your age and confirm your identity. If there are any problems, you will need to submit a photo of your passport or driver’s license.

How does Sporttrade benefit casual bettors?

We actually don’t think Sporttrade really benefits the casual bettor. It does, however, benefit is the stock trader who wants to get into sports betting.

The fact is, if you’re a fringe or small-time sports bettor, trying Sporttrade could end up being more hassle than it’s worth. You have to learn a different way to bet in the form of trading, and it might end up hurting both your sports betting and sports trading.

However, if you’re more knowledgeable about stock trading, then Sporttrade likely will be a good fit for you.

How does Sporttrade benefit experienced bettors?

While Sporttrade does not offer tons of benefits to casual bettors, we can’t say the same thing about experienced bettors. That’s because Sporttrade offers lower transaction costs than traditional sportsbooks and the ability to trade in and out of betting markets.

For experienced bettors, these options may give you more ways to use your expertise to your advantage. In short, it lets you walk away with more money because with Sporttrade there is no house, so the idea that “The house always wins in the end” simply does not exist.

Sporttrade sports betting options

It remains to be seen what all the betting options at Sporttrade will be. The site definitely will allow you to place wagers on which team or player will win a game, known as moneylines at sportsbooks. There also will be spread betting and likely over/unders, too.

The biggest difference you’ll see at Sporttrade is that the odds will not appear with pluses and minuses. Instead, everything is on a 0-100 win-probability scale. So while a sportsbook might list a team at -180, Sporttrade would have that team at a 64% chance to win. If that team gets off to a big lead, that number might jump to 75% or 80%. If it struggles out of the gate, the number could drop below 50%.

Your goal at Sporttrade is to buy low and sell high, just like in the stock market. Maybe you take a flier on an underdog listed at 35%. If it’s leading at halftime and the number jumps to 55%, you can sell for a gain.

What’s not available at Sporttrade

This is one of the biggest questions facing Sporttrade, which bets will not be available. And since Sporttrade matches “buyers” up with “sellers,” does that mean you won’t be able to bet on events if no one else wants to bet the other side?

Another interesting factor is that because of the buyer-seller dynamic, betting markets could vary wildly from state to state. For instance, if the Denver Broncos are playing the New York Jets or Giants, the Sporttrade market in New Jersey might be heavily in favor of the New York team, while the opposite could be true in Colorado.

Factors like this could add a completely new aspect to take into account whenever you’re trading with Sporttrade.

Odds boosts at Sporttrade

The form of odds boosts at Sporttrade will be interesting to see, as well. Since users are basically wagering against one another, we could see profit boosts being more common. Another option would simply be eliminating any commission fees when betting on certain events.

Sporttrade pricing

Since Sporttrade doesn’t charge a vig, the pricing model is completely different from regular sportsbooks. However, Sporttrade does charge a commission fee on winning wagers. How much this ends up being really could make or break Sporttrade as a company.

We don’t think users will care whether it’s called a vig or a commission fee. If the number is too high and cuts into winnings, bettors simply will return to their traditional sportsbook.

Banking options at Sporttrade

It is likely Sporttrade will offer you multiple options for depositing and withdrawing funds. We would expect that you’ll be able to deposit and cash out using a credit or debit card, e-check, online bank transfer and possible services like PayPal, Skrill and PayNearMe.

Whatever the full list of options ends up being, we recommend making sure there is a withdrawal method that you are OK using. If not, you could have money you want to withdraw and no reasonable way to get it.

How to contact Sporttrade customer support

At this point in time the only way to get in touch with someone at Sporttrade is by emailing [email protected].

As soon as the app/website launches, you should find a help or contact button on both the app and website. This will provide alternative ways of speaking with a customer service representative, likely including a live chat and a phone number.

History of Sporttrade

Sporttrade is an extremely new company in the world of sports betting, having just been conceived of in 2016.

Founder, CEO and chairman of the board Alex Kane took Sporttrade through the Comcast NBCU Accelerator Powered by Techstars program back in 2019. He also helped to secure Series A and seed funding for the company.

Sporttrade is launching in New Jersey during the second half of 2021 and plans to go live in other states, including Colorado, in the early part of 2022.