Sporttrade 101

Answers to users’ most frequently asked questions.


The Basics

Sporttrade is a licensed sports betting operator. As a licensed operator, we're able to offer a multitude of different wagering options for players. In some states, exchange wagering is a wagering option we offer. In other states, it is not.

In states where Sporttrade offers exchange wagering, players are able input their own price (called a "Limit Order"). Allowing players to ask for a better price than the one offered is important to encouraging a fair and transparent experience.

The price shown equals the probability or the % chance of the outcome occurring, according to the market. We present you with probabilities because we believe it's an easier framework than american odds.

A share is a unit of betting. Users buy a number of shares on a sporting outcome that translates into amount wagered. Shares are priced to reflect the probability of an outcome occurring.

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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.

We will initially list markets for football (NFL, NCAA), basketball (NBA, WNBA, NCAA Men's), baseball (MLB), golf, hockey (NHL), and soccer (World Cup). We will offer bets on Winner (moneyline), Spread, Total Points (over/under), and Futures. Follow us on social for updates on our expanded offerings!

Sporttrade offers sports betting in Iowa, New Jersey, and Colorado with several other states following in 2024 and beyond, pending regulatory approval.

Sporttrade’s own grown technology is built with the same cutting edge technology that today’s biggest financial exchanges and trading apps utilize.

Sign up here and stay tuned for when the app will become available via iOS in your state (and additional updates for Android and/or Desktop down the line).

  • If Sporttrade becomes live in your state, you can download the iOS app, create an account and immediately start placing trades.
  • If Sporttrade is not live in your state, you will still be able to download the iOS app to observe markets, but sign up on getsporttrade.com to be notified when you can begin placing a trade.

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, better odds, and the ability to trade out of a loss to reduce risk, which favors our customers.

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How To

Just like how you buy stocks or crypto, you can buy outcomes on Sporttrade in dollars or in contracts. And one of the biggest advantages of Sporttrade is you don’t have to wait around until the game is over to win or lose your trade. You can sell all or some of your position, just like a stock, at any time during an event. There’s no sportsbook dictating terms or cash out options; your position is worth what the market is willing to pay for it.

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Your portfolio value on Sporttrade gives you a good idea of how your live bets are doing at a glance, showing you all of your positions and their current value. It reflects your available funds plus the profit or loss of all your open positions.

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For every position you have on Sporttrade, you can check its status with the moneybar. Outcomes on Sporttrade settle at either $0 or $100; $0 means the outcome did not happen, $100 means it did. The price of the outcome is roughly the probability of the outcome to occur according to the market. As the market price of an outcome changes, the moneybar will fluctuate accordingly.

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A Limit Order is a type of order to buy or sell a trade at a specific price – so you control your risk/reward. On Sporttrade, a limit buy is matched as soon as there is a seller at your bid or a buyer at your offer price for a limit sell.

Limit buy order: the order will be executed at the limit price you set or lower.

Limit sell order: the order will be executed at the limit price you set or higher.

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Once you’ve bought an outcome, you’ll see you have a Cost Basis for your position. Your cost basis is the average price per contract at which you’ve entered a position. Whereas Total Cost is your total investment into a position, Cost Basis is your total investment of your open position divided by the number of contracts you own.

And just like when you trade anything else like stocks or crypto, your cost basis on a position will fluctuate if you buy the same outcome at different prices.

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Have a question we didn’t cover?

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