Sporttrade Launches Its Online Platform in Colorado
Sporttrade, a sports betting exchange that allows users to trade bets like stocks, has launched its online platform in Colorado, its second state after New Jersey. The Philadelphia-based operator partnered with GF Gaming to enter the Colorado market, which has generated over $12 billion in sports betting handle since 2020.
What is Sporttrade and how does it work?
Sporttrade is a different kind of sports betting operator that lets users bet against each other or the market, instead of just the house. Users can buy and sell bets on various sports events, ranging from $0 to $99, and profit from the price movements. They claim to offer better odds, more liquidity, and superior in-play experience than traditional sportsbooks.
This sports betting operator uses market makers to provide liquidity to the exchange, which means that there are always buyers and sellers available for any bet. Market makers are professional traders who earn commissions for facilitating transactions on the exchange. They also help to ensure that the prices on the exchange reflect the true probabilities of the outcomes.
Furthermore, Sporttrade also allows users to trade in and out of bets at any time, before or during the event, at fair value. This means that users can lock in profits, cut losses, or hedge their positions as the situation changes. Sporttrade says that this feature gives users more control and flexibility over their bets.
What are the benefits of Sporttrade for Colorado bettors?
Colorado is one of the most competitive and diverse sports betting markets in the US, with over 30 online operators and dozens of retail locations. The state legalized sports betting in 2019 and launched it in 2020, attracting millions of bettors and generating hundreds of millions of dollars in revenue for the state.
Sporttrade believes that it can offer a unique and innovative product to Colorado bettors, who are looking for more options and better value. According to Alex Kane, Sporttrade’s founder and CEO:
“Our launch today proves that Sporttrade can operate in any jurisdiction, with the same great features our customers have come to know us for: instant in-play betting, great prices, awesome liquidity, and the ability to always trade in and out of bets at fair value. As our industry continues to shift focus towards differentiation and product, I’m proud to say that Sporttrade delivers the best in-play experience the world has ever seen.”
Roger Brown, GM Praises Sporttrade Brand & Platform
Roger Brown, general manager of GF Gaming and Easy Street Casino, which partnered with Sporttrade for market access in Colorado, also expressed his confidence in the brand and platform:
“Having seen what Sporttrade has already achieved with its innovative and successful launch in New Jersey, we firmly believe that the brand and platform make for an ideal partnership for us in Colorado. Providing a better odds experience for the player is what GF Gaming has always been about, and Sporttrade brings that same priority to the sports betting market in Colorado.”
How to get started with Sporttrade in Colorado?
To start trading on Sporttrade, users need to download the app from the App Store or Google Play Store and create an account. Users need to be at least 21 years old and physically located within Colorado to use the app. Users also need to verify their identity and provide some personal information, such as name, address, email, and social security number.
How to Register
Once registered, users can deposit funds into their account using various methods, such as credit or debit cards, bank transfers or e-wallets. The minimum deposit amount is $10 and the maximum is $10,000 per day. Users can withdraw their funds at any time using the same methods as deposits.
Users can then browse through the available bets on different sports events, such as football, basketball, baseball, hockey, or soccer. Users can filter by sport, league or time frame. Users can also see the current prices, volumes, and probabilities of each bet.
How to place a bet
To place a bet, users need to select a bet and enter the amount they want to buy or sell. Users can also set a limit price or use a market order. Users can see their potential profit or loss before confirming their order. Once confirmed, users can see their open positions on their portfolio screen.
How to check game history
Users can monitor their positions and adjust them as they wish throughout the event. Users can also see their closed positions and their performance history on their account screen.
