Prophet Exchange Promo Code and Review | Get $250 Free | January 2023

Legal sports betting has taken over the United States in the past few years. In that period, we have seen dozens of different sports betting sites launch that all have different features.

However, one of the more unique sports betting apps comes in the form of Prophet Exchange. When it comes to Prophet Exchange, you will find an innovative way to bet on sports with its peer-to-peer betting system. 

While at your traditional sportsbook, you are betting against the house. That is not the case at Prophet Exchange. Instead, you are placing wagers against other users just like you. 

In this guide, you will learn everything you need to know about Prophet Exchange. Notably, how to play, the rules, and the best new user sign-up bonus you can take advantage of today.

What is Peer to Peer Betting?

Prophet Exchange is closer to a betting exchange rather than your cookie-cutter sportsbook that you see in the US sports betting market since it offers peer-to-peer betting. 

When it comes to peer-to-peer betting, you are placing bets against other users instead of the house. In fact, peer-to-peer betting platforms are wildly popular in Europe since users are more interested in getting the best price for a market they want to bet on more than anything else. And with peer-to-peer betting, you will get the best price since the house does not get as much of a cut of every bet they take action for. 

Think of Prophet Exchange as the middleman between two bettors. The platform facilitates betting markets rather than simply providing them for a cut. 

Since the house does not take a cut, the standard -110 odds you will find at a traditional sportsbook will likely be +100 or longer. 

Prophet Exchange Signup Promo and Bonus Code

Prophet Exchange Signup Bonus & Promo CodePromo Information
Prophet Exchange Promo CodeComing soon
First Deposit Match25% up to $250
Bonus ValidJanuary 2023
Available StatesNJ, OH

How the Prophet Exchange Promo Works

At this time, Prophet Exchange is offering new users a 25% deposit match with up to $250 in total bonuses. 

To sign up, click on the link provided on this page. Doing so will redirect you to the Prophet Exchange new user registration page so you can sign up today.

After you sign up and your new account is created and verified, make your qualifying first-time deposit and Prophet Exchange will match it by 25%, up to $250 in total bonuses collected.

When it comes to using your bonus funds, there is no minimum odds requirement while only matched or partially matched bets will count toward your 1X playthrough requirement. Furthermore, bets that are settled as a push will also count toward your wagering requirement. 

Your bonus funds will be used ahead of your real money balance in terms of the order of funds used when placing bets. 

Prophet Exchange also reserves the right to void bonus funds if you attempt to immediately withdraw them before your play-through requirement is met. Prophet can also void bonus funds if you hedge your bets while your bonus is active. 

Where is Prophet Exchange Available?

As of this writing, Prophet Exchange is only legal in the state of New Jersey, but will be launching in Ohio in early 2023.

This means you must be physically located in New Jersey when you sign up and bet in order to play and win real money at Prophet Exchange.  When it comes to using the platform in other states, Prophet Exchange is expected to go live in Indiana in 2023. 

How to Register at Prophet Exchange

If you are ready to sign up for a new Prophet Exchange account and take advantage of its generous new user welcome bonus today, follow the simple steps detailed below.

  • Click through the direct sign-up link on this page. Doing so will redirect you to the Prophet Exchange new user registration portal.
  • Upon signing up, you must enter your name, address, email, and phone number while also entering the last 4 digits of your SSN and DOB so your new account can be verified to play.
  • Once your new account is created and verified, make your initial deposit to activate your bonus. Prophet Exchange will match your first-time deposit by 25%, up to $250 in total bonuses accrued.
  • At this time, download the Prophet Exchange app if you have not done so as some users will sign up using the website. The Prophet Exchange app is available in both the iOS and Android app stores.  

Prophet Exchange Deposits and Withdrawals

Deposits

*All deposit methods have a $10 minimum.

  • Wire Transfer
  • Online Bank Transfer/ ACH via Trustly
  • Cash at the Cage at Harrah’s Casino in Atlantic City

Withdrawals

*All withdrawal methods have a $10 minimum.

  • Online Bank Transfer/ ACH via Trustly
  • Cash at the Cage at Harrah’s Casino in Atlantic City

How to Bet at Prophet Exchange

Since Prophet Exchange is not a traditional sportsbook, betting looks a little different with its peer-to-peer betting methodology.

When it comes to placing a bet, you must first find a market that you want to bet on. Remember, if you can not find a bet that you can like, you can also request to make your own odds. 

To do this, you will enter the details of the bet that you want to make, submit your bet request, then wait for another user to take the bet. The value of your bet will be for as much as the challenging user wants to bet. 

Since Prophet Exchange does not place limits on odds or bet amount, the only restriction that you must deal with is if another user will take your bet or not. 

At this time, the only bet types offered on Prophet are your traditional money lines, point spreads, and totals. While you can place live bets, parlays and other obscure bet types are not yet in play. 

Prophet Exchange Available Platforms

Prophet Exchange allows users to bet on their web-based platform as well as on mobile devices in mobile app formats. 

Browser-Based Sportsbook

The Prophet Exchange browser-based sportsbook has a clean, aesthetically pleasing interface that is easy on the eyes. 

While there is very little clutter, you can not remove your bet slip on the right-hand side like you can do on other sports betting sites. It is not a big deal, just something to get used to. 

When it comes to navigating, you can easily get to where you need to go using the menu on the left-hand side. This menu will take you to any sport you want to bet on with the click of a button. 

Once you find a sport you want to bet on and click on it, it will appear in the center of the page. While you’re there, you can easily sift through betting markets until you find the one you want. 

Then, once you find the market you want to bet on, click on it and it will land in your bet slip. From your bet slip, enter the amount that you want to stake and submit your bet. 

Prophet Exchange Mobile App

The Prophet Exchange app can be easily downloaded from both the iOS and Android app stores.

Once you download the app and sign in, you will see that it is very similar to the website in terms of aesthetics, interface, and usability. 

From my own experience using Prophet Exchange (I live in New Jersey), I have found that the app is easy to use and bet on. It also does not lag, even during the busiest times of the betting slate. 

Prophet Exchange Betting Markets

  • NFL
  • College Football
  • College Basketball
  • MLB
  • NBA
  • NHL

Expect Prophet Exchange to add additional betting markets as the platform continues to expand in the future. However, the platform does provide the most popular betting markets in the United States including the NFL and the NBA, at this time.

Prophet Exchange Rewards Program

While Prophet Exchange does not feature a current Rewards program, it does have a refer-a-friend program which you can earn rewards and bonus funds from.

When you refer a friend to Prophet Exchange, they must sign up using your referral code, make a valid account and make a deposit in order for you to get your $50 bonus.  

Why Should I Bet at Prophet Exchange?

If you are looking for a different way to bet, then Prophet Exchange is for you. While placing bets at a traditional sportsbook will never go away, the peer-to-peer betting system at Prophet Exchange is the best way to get the best price on a market you want to bet on.

Furthermore, you can also create your own bet and betting odds at Prophet Exchange. You can take your shots and put something out there and really cash in if another user takes the bait. 

Another great feature of Prophet Exchange is that it is a two-way market. You can see the money exchange on both sides of a bet, which is something you don’t get at your traditional sports betting app.

Considering the generous 25% deposit match that Prophet Exchange is offering, it would be wise to take advantage of the bonus and sign up for a new account to try out a betting system that has been popular in Europe for quite some time.