Disclaimer: Sporttrade Sportsbook is not yet online in New Jersey. This review is speculative based on what we know so far and will be updated when Sporttrade launches in NJ.
Sporttrade is a new online sports betting app that will initially launch in New Jersey sometime in the near future. Sporttrade a new name in the sports betting industry, and it intends for its app to change how people approach placing wagers.
Instead of strictly dealing with the online sportsbook to bet, Sporttrade allows you to treat its platform like a stock exchange. Bettors can sell their position on a wager to other members of the exchange. Like a stock market, users can buy and sell bets through ask and bid prices.
Sporttrade is looking to reduce the margins that bettors pay at traditional sportsbooks through the vig. In addition to this new aspect of sports betting, Sporttrade provides an innovative way to display odds, too. The online sportsbook will not use traditional American odds, but instead percentages.
For instance, if a team’s futures odds said it had a 10% chance to win the title, then a $10 bet would win $100 if correct.
Sporttrade is based out of Philadelphia but will launch in New Jersey first. The company’s CEO has mentioned that the license application fee in PA ($10 million) is too steep for a newer brand.
Sporttrade will be legal in the Garden State under a skin from Bally’s in Atlantic City. It’s possible that the sports betting app goes live by the end of the summer.
This review will cover all of Sporttrade Sportsbook and what bettors can expect to find with this new type of platform.
Sporttrade Sportsbook welcome offer
Despite delivering sports betting in a different way, Sporttrade is still an online sportsbook in a market with several other options. Currently, bettors have access to 19 NJ sports betting apps.
This should ensure that Sporttrade offers some form of welcome bonus at the time of its release.
Basically, online sportsbooks give new customers a bonus or incentive to join. Since Sporttrade is a new platform and brand overall to most, it likely will have a solid welcome bonus in place when it launches.
Typically, these offers take a few common forms:
One of the most popular welcome deals is an insured first bet. Here, new users are able to place their first wager with some insurance should it lose.
For your first bet with the online sportsbook, you’ll receive a refund up to a certain amount if you don’t win. The value of these deals varies depending on the sportsbook and state, but it’s reached as high as $5,000 in some places.
Insured bets are beneficial because new bettors can control exactly what they could get back. If your initial bet wins, you receive only your normal winnings.
Other online sportsbooks offer a bonus based on your first deposit at the sportsbook. Similar to the insured bet, new users can set their own bonus with the amount they decide to put in their account the first time.
Of course, the size of the bonus is different across the board, but deposit matches of up to $1,000 exist in several instances. So if Sporttrade decides to match your first deposit up to $500, you could begin with up to $1,000 in your account.
With the sportsbook competing against plenty of other notable, established industry names, it wold not be surprising to see a significant welcome offer involving one of these two methods.
Sporttrade could also present new users with a bonus bet to try out the sportsbook. You usually get this just for creating an account with an online book, prior to making a deposit.
Bonus bets attract attention since they are essentially bonus money, They also allow you to use and test the betting platform before actually betting your own money.
Bonus bets are usually much smaller than the other welcome bonuses we have discussed, generally around $10 or $20.
Terms and conditions apply to all offers. Please see Sporttrade for details. 21+ Gambling Problem? Call 1-800-GAMBLER+
Signing up at Sporttrade Sportsbook
Creating an account to sign up for Sporttrade should be similar to other online sportsbooks. You will need to give some information about yourself that likely includes the following:
- Date of birth
- Home address
- Phone number
- Social Security number
Bettors will need to create a username as well as a password. You will most likely need to give this information each time you log on to Sporttrade. The sportsbook will probably ask for a security question too.
Your only other step will be to agree to Sporttrade’s terms and conditions, along with confirming your age.
The minimum age to wager on sports in New Jersey is 21. However, it does vary in some parts of the country. If Sporttrade launches in other states where 18 is the legal age, then those bettors can also join the sportsbook.
Registration eligibility at Sporttrade
The main requirements for online sports betting in legal US states are the same for every sportsbook. In order to be eligible to use Sporttrade, you must be old enough to legally wager and inside a state where the sportsbook is legal in order to place wagers.
When Sporttrade debuts in NJ, bettors must be at least 21 to place bets. The majority of the US uses the same minimum age, but there are a few locations like Rhode Island where it’s just 18.
The only other necessity is that you be within the state’s borders where the online betting app is available. This means that if you’re outside of New Jersey, you won’t be able to place any wagers. You do not need to be a resident of New Jersey to play in the state though.
The online sportsbook will use geolocation to know whether you’re within the legal area. Of course, if Sporttrade goes live in additional states across the country, then you’ll be able to bet from there, as well.
Just about everyone can download and use Sporttrade, but there are a few specific jobs that can’t participate. Those whose professions can impact a sporting event like players, trainers, coaches and officials cannot bet on sports. Some key casino employees also aren’t allowed to use Sporttrade.
Downloading the Sporttrade Sportsbook app
Once the new sportsbook officially becomes available, downloading its app should be fairly easy. Although we won’t know for sure until Sporttrade releases, it will likely be available on both Apple and Android devices.
You’ll likely be able to download either version of the app via links on the sportsbook website.
Most sportsbooks give you access to a browser-based version of the sportsbook, too. This way, you’re able to easily place wagers when on your computer, or you can get onto the site through your phone’s web browser without needing to download anything.
It’s likely that Sporttrade delivers its sportsbook and trading market on as many platforms as possible. If the company wants to spread its name and product, expect for it to give bettors plenty of convenient ways to conduct business.
While Sporttrade will aim to give bettors more flexibility when it comes to wagering options, it should also include things other sportsbooks have. The online sportsbook will probably feature a variety of additional promotions beside what you might get when you sign up.
Some common deals give bettors insurance or boosted odds for parlays of a certain size. Other bonuses usually involve ways to earn a bonus bet or site credit.
Promos are very popular at online sportsbooks, many becoming available for a particular noteworthy game or event. Beyond any welcome offer, it’s likely that Sporttrade will provide consistent promotions after it launches.
The newest Garden State online sportsbook will also probably offer a variety of ways to deposit and withdraw money. Most online sportsbooks provide at least a few methods. These usually include some of the following:
- Credit or debit card
- Online banking
- Play+ prepaid card
- Wire transfer
- Cash at the casino cage
The majority of sportsbooks let bettors withdraw winnings in many of the same ways. Receiving your money via a check in the mail is sometimes an option, too.
It’s also a possibility that people in New Jersey will be able to conduct banking with Sporttrade by using cash at a retail location. You may be able to use the casino cage at Bally’s in Atlantic City, for instance. Of course, cash transactions could be possible in other states if and when Sporttrade expands elsewhere, too.
Sporttrade varies from other regular sports betting apps because it gives you a different way to buy and sell wagers. However, it will also act as a more normal sportsbook that provides the essential basics of sports betting.
Overall, those who download Sporttrade should find a good portion of the following betting options:
- Point spreads
- Round robins
- Live bets
One main difference you will see when using Sporttrade is that it doesn’t display its odds the same way most bettors may be accustomed to seeing. Instead of moneyline odds like -150 or +120, it will show teams’ odds in terms of a percentage. You will be placing wagers on a probability between zero and 100.
So if you take the favorite, which would normally have odds of -180, Sporttrade would show that side at 64%. The same logic applies to futures bets. By betting on a team to win the championship at 10%, you’re essentially taking odds of +1000.
Sporttrade intends this to be a simpler and more widely understood way of looking at sports betting. It is also connected to how the sportsbook acts as a stock exchange.
Somewhat similar to cashing out your own bets at current online sportsbooks, Sporttrade’s platform gives you the ability to buy and sell other bettors’ “positions” on a certain market. The bulk of this aspect of the online betting app happens through live wagers.
In general, live sports betting is now one of the most common ways to put action down on a game. With so many online sportsbooks launching in the past few years, bettors can place wagers on their phones within seconds.
Now, most of the sportsbooks provide a variety of live betting options for basically every sport and matchup. You can bet on updated odds based on how the game is progressing for almost the entire duration of gameplay.
Some books might feature only adjusted odds for the standard lines like the moneyline, total and point spread, but most list plenty more. Live betting markets usually also include game, player and team props.
It will be interesting to see how Sporttrade lays out its live offerings considering the sportsbook will be a stock market of sorts, too.
For instance, if you bet on a team before a game at 50% and the team begins the game well, your selection’s percentage will jump up. Now, you could potentially sell off part or all of your position on what appears to be a winning bet.
Just like when you live bet on a team that is losing, you’ll receive enhanced odds. If that team can make a comeback, your small investment could pay out a much larger total.
Sporttrade will act as somewhat of a marketplace that matches those interested in the same wagers.
This changes the current way some sportsbooks operate, where bettors aren’t always able to cash out their initial wager. With “always on” in-game wagering, you can buy and sell a position at any moment.
In theory, this will create better odds for users because Sporttrade will match you with the best price available. You’ll be able to see the value of your positions change in real-time through your portfolio.
This even includes setting limit orders to buy or sell a bet at a certain price that you’ll lock in.
Sports you can bet on at Sporttrade
Sporttrade introduces a different way to look at sports betting, but will likely have all of the usual sports to bet on that everyone is used to seeing. Options you could see when the sportsbook launches could include the following:
- Auto racing
- Table tennis
- Australian rules
Is Sporttrade legal?
Sporttrade is not yet legal in the US, but it is aiming to be so soon. It is slated to initially go live in the state of New Jersey by the end of summer. The sportsbook already has a partnership in place to enter the state via Bally’s in Atlantic City.
Once it debuts in NJ, it’s probable that Sporttrade expands into additional states around the country. Many now offer legal and regulated sports betting markets, whether in person, online or both:
- New Hampshire
- New Jersey
- New York
- Rhode Island
- South Dakota
- Washington, DC
- West Virginia
Plenty of other states are working toward allowing sports betting. The following places are close to launching:
In fact, it seems as if Sporttrade already has its second landing place in mind. The sportsbook announced in August that it had acquired Momentum Sports and Entertainment, which is based out of Colorado.
Sporttrade says it should release in its second state in the first half of 2022.
This is likely to continue, and the creative online sportsbook could launch in multiple other states in the near future.