Answers to users’ most frequently asked questions.
Sporttrade is an exchange just like the stock exchange, but instead of stocks we list sporting events. This allows users to “trade” on sports in the same way they trade stocks in the financial market - buying and selling outcomes of sporting events.
Our mission is to elevate the sports betting industry, and provide a truly dynamic and innovative platform designed for all sports bettors. Like the financial markets, retail investors have benefited immensely from unprecedented innovation from firms like Robinhood, Coinbase and many others. Sporttrade was created to bring the same innovation and efficiency to sports betting, including tighter spreads, better odds, lower fees and improved features and functionality.
No, Sporttrade is not a sportsbook. Sporttrade is a sports betting exchange. By leveraging an exchange model, we are able to offer better pricing because we do not take on any risk like a traditional “book” and employ a lower fee structure.
No, Sporttrade is not the house. Given our exchange model we do not take the other side of your bets. We enable you to place them and we charge a small commission on your profitable “trades”.
By leveraging an exchange model, we are able to offer better pricing because we do not take on risk like a traditional sportsbook. We charge you a small commission on the profit of your sports trade. Additionally, the platform is built to provide a more “dynamic” trading experience, similar to trading stocks or crypto.
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.
We use probabilities because we think it's an easier framework than American odds. 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.
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.
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.
Sporttrade provides liquidity by connecting to liquidity providers or market makers the same way stock markets like the Nasdaq does. Our market makers are obligated to quote tight spreads and to provide liquidity in each market. So, you’ll be able to move in and out of your trades at any time without friction on Sporttrade.
Just like a stock exchange, participants that place limit orders in the Sporttrade market have to compete with each other to provide the best possible pricing in order to get matched by incoming orders. This approach, which is called the Central Limit Order Book methodology, is the same approach that stock exchanges employ to ensure the tightest possible spreads for customers.
Traditional sportsbooks do not have to compete with anyone; they’re the only one providing prices. So, you pay more for each bet you place compared to a sports betting exchange.
That depends. All orders will be placed on the central limit order book where participants and our liquidity providers will seek to match buyers and sellers. However, at times of high volatility and/or uncertainty only limit orders will be accepted, but you will always be able to submit orders. Executed orders (trades) will be contingent on market volume and pricing conditions, just like stock trading.
We will initially list markets for football (NFL, NCAA), basketball (NBA, WNBA, NCAA Men's), baseball (MLB), golf, and hockey (NHL). We will offer bets on Winner (moneyline), Spread, and Total Points (over/under). Follow us on social for updates on our expanded offerings!
Sporttrade will offer sports betting in New Jersey soon with several other states following in 2023 and beyond, pending regulatory approval.
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.
Sporttrade’s own grown technology is built with the same cutting edge technology that today’s biggest financial exchanges and trading apps utilize.
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.
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.
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.
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.
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.
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.
Have a question we didn’t cover?
Reach out and someone from the Sporttrade team can help get you the answers you need.