Prophet Exchange Promo Code Offer and Full 2023 Review
Reviewed By Ziv Chen
The Prophet Exchange promo code bonus gives you a deposit bonus in the form of a Risk-Free First Bet Up To $250. Risk Free bets are deposit bonus offers with an insurance on your first bet. Place your wager and if it loses you will get the funds back as bonus cash. You can use these bonus funds to place wagers and win profits you can withdraw. You don't even need a Prophet promo code to earn bonuses, which you do with welcome offers from some of the best sports betting sites. You just need to follow the instructions in this guide.
Find out how to redeem your Prophet Exchange promo code below and earn deposit bonuses in our review below.
Prophet Exchange Promo Code and Welcome Offer
Top Highlights
- ⭐ Only Betting Exchange In The US
- ⭐ App For iOS & Android
- ⭐ Cash Deposits & Withdrawals
- ⭐ Refer a Friend Bonus - Get a friend to sign up using your referral code and receive $50 in bonus funds.
BetProphet Sports Welcome Bonus
This is one of the best sports betting bonuses, with a deposit bonus of a Risk-Free First Bet Up To $250. The sportsbook will give you your bonus funds within 72 hours, which you can use as money. You will have 14 days to use these funds. You don't need a Prophet promo code to redeem this offer. Just click the links on this page to sign up.
How to Redeem Your Prophet Exchange NJ Bonus Code Offer
- Click the links on this page to claim your Prophet Exchange bonus offer.
- Select the option to sign up for the sports betting exchange.
- Create your new account by entering your personal details, including the last four digits of your Social Security number. The site needs this information to verify your account to protect you from underage gambling and fraud.
- The sportsbook may ask for a promo code during your registration. If you use the links on this page, you can leave this blank and still receive your welcome offer.
- Once you are signed up, visit the cashier section and make a qualifying deposit of up to $250 bonus amount to claim your Prophet Exchange welcome bonus. Remember to check the terms of the initial deposit offer to ensure your payment method is valid with the welcome promotion.
- Once you make your deposit, you'll receive bonus cash equal to how much you added ready to use for sports betting.
Prophet Sports Betting Bonus Terms and Requirements
Anyone in New Jersey and over 21 can redeem the Prophet Exchange deposit match offer. The bonus is only available to new customers, and you don't need a Prophet promo code to claim your sports betting bonuses. If you withdraw your initial deposit before completing the wagering requirements for your bonus funds, you'll forfeit your Prophet Exchange welcome bonus.
- 1x wagering requirement.
- No minimum odds.
- Your Prophet Exchange offer rewards only last 14 days.
How this Prophet Betting Exchange Promo Code Offer Compares
Our bonus review found that the offer has favorable terms compared to other top-betting bonuses. The 1x wagering requirements are much lower than DraftKings 25x. However, other sportsbooks offer more value than the Prophet Exchange bonus. The maximum $250 bonus amount is much lower than the $1000 FanDuel "no sweat" free bets or $2000 available at PointsBet.
Why Use this Prophet Sports Betting Exchange Bonus Code?
The Prophet Exchange bonus gives you a decent number of bonus funds to use to get your sports betting started and a real chance to make a profit with the 1x wagering requirements. Also, the bonus may be smaller than other betting sites, but Prophet's excellent odds will ensure you get good value.
More Prophet Sports Exchange Promotions
Up until now the only Prophet Exchange bonus is the deposit promo but they are looking to offer different types of promotions and offers for their bettors. In the past there have been no risk free bets on offer but this has just changed with the deposit bonus offer of Risk-Free First Bet Up To $250.
Prophet Exchange Review Summary
Highlights:
- ✅ Partnered with the reputable Caesars
- ✅ Available in New Jersey
- ✅ Accepts PayPal and Trustly e-wallets
- ✅ Founded in 2018
- ✅ Experience with the UK market
PROS & CONS
Prophet was founded in 2018 by CEO Dean Sisun and COO Jake Benzaquen. The site initially operated in the UK but has finally launched in New Jersey through its partnership with Caesars. The betting site is one of a kind in the US with its unique style of offering wagers. It also has an excellent desktop site and robust mobile apps.
However, we would like to see more Prophet promo code bonuses rather than just its welcome offer. Its payment methods and sports markets are also limited, but this is a great betting platform overall. Read our guide below to learn more about the quality betting experience.
What is Prophet Sports Betting Exchange?
A betting exchange is different from a typical sportsbook, although it may look the same. There are two ways to wager on Prophet, as a bettor or as a layer. The bettor will wager like a normal betting site, choosing a market and placing a stake. However, the wager will only go through if a layer backs the opposite to happen. The bet exchange will charge a small commission on all bets.
How is a Betting Exchange different than a Sportsbook?
Rather than betting against a sportsbook, you wager against another player. If you lose, you pay your money to this player. You can also choose the odds you want to wager at. Lay betting is also only available with a betting exchange.
Where is Prophet Sports Betting Exchange available in the US?
Currently, Prophet and its welcome offer are only available in New Jersey. However, the sportsbook plans to open in Indiana in 2023. If you want to claim the Prophet Exchange bonus on iOS and Android devices, you must allow the sportsbook to access your geolocations and check you are in a legal state.
Prophet Exchange States of Operation
Prophet Exchange New Jersey
- Availability: Online sportsbook
- Partner: Harrah's Casino Atlantic City (Caesars)
- License: New Jersey Division of Gaming Enforcement
New Jersey is the first state where Prophet has launched through its partnership with Caesars, and you can access the best betting exchange in the state and use its promo code offers. You can also make deposits and withdrawals in person if you visit Harrah's Casino Atlantic City.
Prophet Exchange Indiana
- Availability: N/A
- Partner: Caesars
- License: Indiana Gaming Commission
As a part of its agreement with Caesars, Prophet has announced its plans to launch in Indiana in 2023. Indiana bettors will have access to the sportsbook's offer for new customers, which they can use to bet on the NFL and other markets with one of the only betting exchanges in the US.
Prophet Exchange Ohio
- Availability: Coming in 2023
- Partner: Caesars, Columbus Blue Jackets
- License: Ohio Casino Control Commission
Dean Sisun has announced a partnership with Columbus Blue Jackets, stating that the brand will come to Buckeye State once sports betting launches in January 2023. Ohio bettors will have the chance to bet against each other on a wide range of sports.
Prophet Exchange Sports to Bet on
- NFL betting
- NBA betting
- NHL betting
- MLB betting
- NCAAF betting
- NCAAB betting
Odds and Lines
It's impossible to compare Prophet's betting lines with other online sportsbooks because the site doesn't have set odds. Players can choose to alter betting lines to suit them and hope other bettors wager against them.
Best Betting Options
- Money line: A money line is the most basic type of wager, where you pick the winner of an event. If you're correct, you get the money you bet back and a profit.
- Futures: A futures bet is a wager on a significant event in the far future, such as the winner of the NBA Finals. The earlier you place your futures, the greater your betting lines will be.
- Props: A prop bet is a wager on the statistics of a team or a game, like three-pointers in basketball and or rushing yards in the NFL.
- Parlays: You can combine multiple wagers into one bet with a parlay. If even one of your bets is incorrect, you'll lose the whole wager. However, you get better odds for these riskier bets.
- Totals: A totals wager asks you to predict whether an event will have over or under a set amount for a particular statistic, like points scored in an NHL game.
Prophet Exchange Betting Experience and Features
Prophet is a new betting site and currently doesn't have many features like live streaming. However, its main feature, the betting exchange, is one of a kind. Check out some of its benefits below.
Request Your Own Odds
The great thing about Prophet is that you can decide your own odds for any market. You need to find a layer to wager against your odds, which can result in some excellent profits.
Best Odds You Can Find on The Market
While you can request your own odds, the sportsbook will also give some suggestions as a starting point. These betting lines can compete with the best in the industry, ensuring you always get the most bang for your buck with your rewards from promo codes.
Prophet Exchange Account Registration
- ✅ Click the banners on this page to visit Prophet and claim your deposit bonus.
- ✅ Choose the register option.
- ✅ Enter your full name, address, phone number, email, date of birth, and the last four digits of your Social Security number.
- ✅ You may be prompted to enter a Prophet promo code during your registration. If you have clicked the links on this page, you can leave this box blank and finish your sign up.
Prophet Exchange App
- iOS App rating: 4.9/5
- Android App rating: 5/5
The Prophet app uses the same light green and white color scheme as the desktop site but uses a navigation bar to make it easier for new players to switch between real money markets. The app is fast, offers loads of features, and compares well to our best betting apps in the US.
How to Download the iOS App
- New customers on iOS devices can visit the Apple App Store to download Prophet.
- Search for the sportsbook and choose to download.
- Once the download is complete, you can sign up and claim the current Prophet Exchange bonus.
How to Download the Android App
- Visit the app store on your Android device.
- Search for Betting Prophet and choose to download the app.
- You can also visit the sportsbook's mobile browser site, which should prompt you to download the app on Android devices.
- Once the app is downloaded, you should be able to sign in to your account and make real money wagers.
How to Withdraw Potential Winnings
There are only four payment methods available at this sports betting exchange. USA players living in New Jersey can withdraw money at the counter at Harrah's Casino Atlantic City. You can make withdrawals using online banking with Trustly and wire transfers. PayPal is also available.
Every withdrawal method has a minimum of $10. All withdrawals need up to 24 hours of processing time. Following this, PayPal and Trustly transactions take 3-12 hours to reach your account. You can also use wire transfers to add money directly to your bank account, which will take 3-5 days. Withdrawing at the counter in Harrah's takes just 24 hours.
How to Bet at Prophet Exchange Site
1. Deposit Funds into Your Account
- PayPal
- Online Bank Transfer (ACH via Trustly)
- Wire Transfers
- Cash at Harrah's Casino in Atlantic City
Four secure payment methodsare available at Prophet, each with a minimum deposit of $10. All deposit methods are instant, and there are no fees for adding money to your account. You can deposit by visiting the cashier section of the sportsbook and following the instructions to add a payment method.
2. Place a Bet With Your New Welcome Bonus
- ✅ Browse through Prophet's sports betting markets.
- ✅ Find a wager with which you want to use your Prophet Exchange risk free sports bonus and add it to your bet slip.
- ✅ Once you are happy, choose the stake and place your bet.
- ✅ If your first bet loses you will receive that amount back in bonus cash. This means that when they place their next bet they will receive the bonus cash stake plus their winnings.
Customer Support
If you need support while using Betting Prophet's peer-to-peer betting exchange, you can find its FAQs with advice on deposits, promotions, and account settings. If you need further assistance, you can contact the customer support team from 10 am to 12 am EST every day. Here are the contact options available on the Prophet Exchange platform:
Email: hello@betprophet.co
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| Available Hours: | 10AM - 12AM EST |
| Phone: | (866)-686-0377 |
Is Prophet Exchange Safe?
Prophet is partnered with Caesars Sportsbook, one of the top betting sites in the US. Caesars is a very reputable company and would only partner with trustworthy betting sites.
Security and Reliability
Prophet is licensed by the New Jersey Division of Gaming Enforcement and the Indiana Gaming Commission, which means it has passed strict tests for player safety and financial security. The site uses encryption technology to keep your data safe, and you can also secure your account using face ID with iOS and Android devices.
Responsible Betting
NJ players can find Prophet's responsible gambling resources in its FAQs section. There you can manage your account limits like deposit limits and wagering limits. You can also use cool-offs, self-exclusion, and other tools. The sportsbook also has some resources on the signs of problem gambling.
Our Five Expert Tips for Betting at Prophet Exchange
- Tip 1 - You don't need a Prophet promo code to redeem the welcome bonus. Just click the links on this page and sign up without any promo codes.
- Tip 2 - Get a larger bonus amount by making a big first deposit. You can double your playing money in an instant and potentially come away with a profit.
- Tips 3 - Try out lay betting. Lay betting, or betting against the predictions of other players, is only available Prophet Exchange and other exchanges.
- Tip 4 - Always gamble responsibly. If sports betting is affecting your personal or professional life, seek help.
- Tip 5 - Don't choose ridiculous payouts. You can only place a bet if a lay bettor backs the opposite, so ensure your betting lines are reasonable.
Our Final Verdict on Prophet Exchange
Prophet is the first sports betting exchange in the US, which is one of the main reasons players will sign up. However, its deposit match bonus, excellent desktop site, and mobile apps also make this an appealing prospect.
There are some issues that Prophet needs to overcome. Its range of sports is very poor compared to other online sportsbooks. Its customer support should have more contact options, and bettors in the state of New Jersey will want a broader range of payment methods.
Overall, the thrill of choosing the payouts on your wagers is far greater than the downsides of the negatives. The first betting exchange for US players is bound to leave bettors wanting more. Sign up with this New Jersey betting exchange and claim your welcome bonus by using the links on this page.
FAQ
What is a sports betting exchange?
A betting exchange platform allows you to wager against other players rather than the sportsbook. You can set the odds, and other bettors will bet against you. Betting Prophet is the first US betting exchange.
What is peer-to-peer sports betting?
Peer-to-peer sports betting lets you wager against other players rather than against a sportsbook. There are two roles: the bettor and the layer. The bettor wagers like with any sportsbook, except they can choose their betting lines. The layer will back the opposite of the bettor.
How do betting exchanges work?
The Prophet Exchange website connects you with other bettors so you can wager against them. If you win, the other bettor funds your payout, and the site takes a commission of your winnings.
What is the difference between a sportsbook and a betting exchange?
With standard betting sites, you wager on betting lines provided by the sportsbook. If you win, the sportsbook will pay you your winnings. With betting exchange sites
Why should you use a betting exchange?
A USA betting exchange gives you more freedom over your wagers, letting you choose the betting lines you want. This gives you a chance of a bigger profit at betting exchange websites compare to standard sportsbooks.
Contributors
Hi, I'm Ziv Chen
"Ziv Chen has been working in the online gambling industry for over two decades in senior marketing and business development roles. Ziv writes about a wide range of topics including slot and table games, casino and sportsbook reviews, American sports news, betting odds and game predictions. Leading a life full of conflict, Ziv constantly struggles between his two greatest loves: American football and US soccer."
- Sports Betting
- Online Casino
- Online Poker
Reviewer since June 2019
