Disclaimer: Sporttrade is available in Colorado, Iowa and New Jersey, but we do not currently recommend signing up with Sporttrade Sportsbook, these are the top online sportsbooks we recommend as of September 2024.
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Sporttrade is a newer online sports betting app that has launched in Colorado, Iowa and New Jersey. Sporttrade, a new name in the sports betting industry, 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 $300 welcome offer
Sporttrade is offering new users in Colorado, Iowa and New Jersey a welcome bonus worth up to $300. You do not need a Sporttrade promo code to claim this welcome offer.
| Sporttrade Promo Code | None needed |
|---|---|
| Welcome Bonus | Up to $300 cashback |
| Terms & Conditions | • Get 3% back on qualifying wagers during your first seven days • Minimum odds -480 • Minimum redemption $5 • Cashback comes as cash |
| Legal States | Colorado, Iowa and New Jersey |
| Promo Code Valid In | September 2024 |
Sporttrade sign-up offer details
The Sporttrade Sportsbook welcome bonus is unique and requires a little bit of explanation. Here’s how to take advantage of the offer.
- Open a new account with Sporttrade in Colorado, Iowa or New Jersey.
- Make a deposit.
- You then get 3% cashback for all the qualifying wagers you place during your first seven days with Sporttrade.
- A qualifying wager must have odds of -480 or longer.
- In order to claim the full $300 bonus you would need to place $10,000 in qualifying bets during your first seven days at Sporttrade.
The Sporttrade welcome bonus is not strong in our estimation. Well we like that you get the cashback bonus in cash (not bonus bets or site credit), the fact that you only get 3% of your wagers back is extremely low. We’re guessing the vast majority of user will come nowhere close to wagering $10,000 in seven day, which is what’s required to claim the maximum $300 bonus.
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:
- Name
- 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.
Promotions
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.
Banking
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:
- PayPal
- ACH/e-check
- Credit or debit card
- Online banking
- Play+ prepaid card
- Wire transfer
- PayNearMe
- Neteller
- 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.
Betting options
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:
- Moneylines
- Point spreads
- Totals
- Parlays
- Teasers
- Round robins
- Live bets
- Props
- Futures
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.
Live betting
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:
- Football
- Baseball
- Basketball
- Hockey
- Soccer
- MMA
- Tennis
- Cycling
- Golf
- Auto racing
- Boxing
- Darts
- Rugby
- Table tennis
- Cricket
- Australian rules
- Lacrosse
Is Sporttrade legal?
Sporttrade is currently available in Colorado, Iowa and New Jersey. While nothing has been announced, it’s possible that Sporttrade expands into additional states around the country. Many now offer legal and regulated sports betting markets, whether in person, online or both:
- Arizona
- Colorado
- Connecticut
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- New Hampshire
- New Jersey
- New York
- North Carolina
- Ohio
- Pennsylvania
- Tennessee
- Vermont
- Virginia
- West Virginia
- Wyoming
Other sportsbooks that we have review
In addition to Sporttrade we have reviewed a large number of online sportsbooks. Here are the best in our opinion:
- BetMGM Sportsbook review
- Caesars Sportsbook review
- FanDuel Sportsbook review
- DraftKings Sportsbook review
- Bet365 Sportsbook review
- BetRivers Sportsbook review
- Hard Rock Sportsbook review
- Fanatics Sportsbook review
- ESPN BET Sportsbook review
- Fliff Social Sportsbook review
- Sports Illustrated Sportsbook review
- Rebet Social Sportsbook review
- Best online sportsbook bonuses in September 2024