Sporttrade is a Philadelphia-based sports betting and trading company poised to disrupt the sports betting industry with the first legal sports betting exchange in United States history. Built just like a financial exchange, our platform allows customers to trade on sports outcomes by buying and selling contracts, just like trading stocks.
Our mission is to elevate the sports betting industry, and provide a truly inclusive platform designed for all sports bettors. Recently, retail investors have benefited immensely from unprecedented innovation in capital markets. Sporttrade was created to bring those same great benefits to sports betting, including increased efficiency, real transparency and better pricing.
Bringing together the best experience and leadership from Financial Services and Sports Betting.
Chief Executive Officer + Chairperson of the Board
Alexander is the founder of the firm and US sports betting expert. Alex has been featured in many top industry publications including EGR and Business of Betting, and has written about the US legal landscape in Bloomberg. In 2019, Alex secured seed and Series A funding for Sporttrade and led the Company through the 2019 Comcast NBCU Accelerator Powered by Techstars.
Chief Financial Officer
Anthony is a former Managing Director at JP Morgan Chase where he spent over 24 years. In his last role, he served as the Firm-wide Financial Controller and prior to this, Anthony was Merger Integration Lead Finance Executive for Securitized Products during the JPMC/Bear Stearns merger. Anthony served in a variety of senior Finance and Ops capacities during his time at JPMC after joining them from Ernst & Young.
Chief Marketing Officer
Russ is a seasoned financial services marketing and communications professional with over 30 years of B2C and B2B marketing expertise. He has served as Head of Marketing at a variety of firms including Brunswick Group, Intercontinental Exchange (NYSE), Nasdaq and MF Global. He spent his early career at several blue chip advertising agencies including Grey, Wunderman and McCann Advertising.
Thomas (Tom) A. Wittman most recently served as Nasdaq’s Executive Vice President and Advisor, managing Nasdaq Fixed Income. Previously, he served as Head of Global Trading and Market Services and CEO of the Nasdaq Stock Exchange, where he was responsible for the management, operations and strategic direction of Nasdaq’s diverse set of global businesses spanning cash equities, clearing, commodities, derivatives, fixed income and trade management services.
VP of Engineering
Karl joined Sporttrade in June of 2020 and has helped oversee the development of Sporttrade’s software and infrastructure life cycle. Karl brings nearly 20 years of experience in DevOps and Agile workflows across various industries, previously having worked as an operations engineer at numerous startups in Philadelphia. His experience with cloud native automation and hybrid environments plays a pivotal part in delivering the best customer experience for our stakeholders.
Head of Product
Avi joined Sporttrade as its first employee after spending a decade as an energy derivatives trader. Prior to Sporttrade, Avi built the exotic derivatives natural gas desk at DRW. He brings expertise in creating liquidity across exotic asset classes and the implementation of financial trading frameworks in emerging products.
Investors & Partners
Frequently Asked Questions
Sporttrade is an exchange just like the stock exchange, but instead of stocks we list sporting events. This allows users to bet on sports in the same way they trade stocks in the financial market.
By leveraging an exchange model, we are able to offer better pricing because we do not take risk like a traditional “book”. We only charge you a small commission if you win your sports bet.
Initially, Sporttrade will offer sports betting and trading in New Jersey beginning in late summer with several states following in 2022.
At Sporttrade, we are elevating the sports betting industry by putting the customer first. We give users multiple tools to practice responsible gaming, including deposit limits, spend limits and cool-off periods. We also offer lower pricing and better odds which favors our customers.
No – given our exchange model we do not take the other side of your bets. We just enable you to place them and we only charge a small commission if you win.
We don't take any risk. We just allow you to place your bet and the market takes the other side of it. Because of that, we only charge a small commission for using the exchange, not a large “vig” like traditional sportsbooks.
Sporttrade is built with the same cutting edge technology financial stock exchanges utilize.
As a sports trading platform, we employ terminology from the trading world like Contracts, Buy, Sell, Positions and Portfolio. As an exchange for sports betting and not a traditional sportsbook, we believe our customers will embrace the terminology used.
No, we present you with probabilities because we think it's a better framework than American odds. You can convert odds to probability and back using some simple calculations, but we strongly believe in our 0 to 100 probability approach. In simple terms the price of a contract equals the probability of the outcome occurring. For example, if the Phillies are trading at a buy of $55, then the probability of them winning is 55%. If they do win, then the contract settles at $100, for a profit of $45 per contract.
Simply, a contract is a unit of betting. Users buy a number of contracts on a sporting outcome that translates into amount wagered. Contracts are priced to reflect the probability of an outcome occurring. Contract Price = probability of an outcome occurring, i.e. Buccaneers to win = $47, so the Bucs have a 47% chance of winning.
Yes, you can always trade in the market, whether you want to increase, reduce or close your position. Sporttrade will allow you to manage your portfolio in the best possible way.