Prophet Sportsbook in New Jersey provides a new way to bet on your favorite sporting events. This peer-to-peer betting exchange gives you the chance to act as the bettor or the sportsbook as you request, set, or accept odds from other users and go head-to-head in a battle of sports betting wits.

Prophet Betting Exchange – How it Works

With Prophet Betting Exchange NJ players have the opportunity to experience a completely different type of sportsbook experience. Peer-to-peer sports betting allows you to play the part of the bettor or the sportsbook, with control over the odds you bet or lay.

Prophet Betting Exchange — Legal Aspects

In case you’re wondering if the Prophet sports betting NJ now offers is safe, the short answer is yes. Prophet is a legitimate and trustworthy betting site that carries a license to legally operate in the state of New Jersey. You can rest assured you and your funds will be kept safe at all times while betting at Prophet.

Peer-to-peer betting is legal in states where online sports betting is legal, such as New Jersey, Indiana (the next place Prophet will go live) and others. We have check for any scams and can say with confidence that Prophet is not fake.

This is a trustworthy betting site that fulfils all necessary requirements to offer gambling services in the state of New Jersey. To learn more about New Jersey security standards and licensing requirements, check out our guide to online gambling in NJ.

About Peer-to-Peer Betting Exchanges

A peer-to-peer sports betting exchange allows users to make bets between themselves with no sportsbook as a middleman. In essence, it’s a more official version of two co-workers putting $20 on the outcome of the Super Bowl.

This means the odds can be set by a user acting as a sportsbook and accepted by any bettor, or requested by a bettor and accepted – either fully or partially – by any user. This gives you a whole extra level of control compared to conventional sportsbooks.

Peer-to-Peer Betting vs. Normal Betting — Differences

Peer-to-peer betting removes much of the necessity for a sportsbook from a bet. The Prophet NJ sportsbook can set odds, but you can also select your own odds. Prophet also takes a smaller commission, meaning odds may often be substantially friendlier than those at conventional sportsbooks.

The act of betting is the same, if you win, you get a payout, and if you lose, you don’t. However, the difference here is that the money you win or lose comes from – or goes to – another bettor. This is a more direct form of sports betting that puts power into the hands of bettors.

Pros and Cons of Peer-to-Peer Betting

As with all forms of betting, there are upsides and downsides to the prophet online betting exchange in NJ. Let’s break down the most important pros and cons of peer-to-peer sports betting:

Available Betting Markets at Prophet Betting Exchange in New Jersey

There are a few betting markets to choose from when you play at the Prophet sportsbook in NJ. While the list is smaller than at conventional sports betting sites, the odds are often more favorable, which does a good job of balancing out the negatives.

The current bet types available at Prophet sports betting NJ players can place are:

Moneyline Betting – Choose Your Odds

Moneyline bets are the simplest bet at any sportsbook, and the same is true of peer-to-peer betting at Prophet Betting Exchange NJ. Here, you simply bet on who you think will win a game, match, or event.

You can choose existing odds, or request odds of your own and see if anyone will match them by playing the part of the sportsbook. Alternatively, you can play the part of sportsbook and either set odds for others to bet on or accept an odds request.

Whether you choose to bet or to lay odds, moneylines are the best place to start thanks to the simplicity of the market. There are also moneyline markets set by Prophet, designed to offer more conventional odds than regular sportsbooks, you can choose to bet or lay these odds.

Totals Betting

Totals are over/under bets and are always set at odds of +100 at Prophet. At most conventional sportsbooks, totals odds sit around the –110 mark, but that’s not the case at Prophet.

A total score for a game will be set, and you can bet or lay those odds at +100 either way. There is also the option, as with all other peer-to-peer bets, to set odds as the sportsbook or request them as the bettor on totals markets.

Point Spread Bets

As with totals, the point spread odds at Prophet Betting Exchange NJ are set at +100 automatically, again giving you better odds than most normal sportsbooks. Again, there’s also the option to bet or lay different odds if you find a betting partner willing to wager or lay the opposite.

Other Betting Markets

At the moment, there are only these three markets to choose from at the Prophet NJ sportsbook. However, peer-to-peer sports betting in NJ is still new, and we expect to see more markets added in the future.

Don’t be surprised to see other bet types added soon like futures (bets on something to happen later, like league winner), as well as liver bets like winner of the next half or next player to score.

Prophet Bonus Overview – Sign Up Offer For New Jersey Players

At Prophet online betting exchange, NJ players can benefit from a welcome bonus, which is rare at peer-to-peer sportsbooks. When you sign up, you receive a 50% bonus up to a maximum of $250. This can be used to make bets, and any unmatched bets will be returned as bonus funds.

There is an impressively low 1x playthrough requirement attached to this bonus, and any wagers using the bonus must have odds of –300 or greater. This means once you’ve bet the value of the bonus once, you’re able to claim it immediately. Be aware there’s a 30-day limit on the bonus.

Other Prophet Bonuses and Promotions for 2024

There is currently one other bonus on offer at Prophet sportsbook NJ. This is a refer-a-friend bonus, which will give you $50 in bonus funds for every friend you introduce to the Prophet sports betting exchange in NJ.

We expect to see more promotions added in the future, remember that Prophet is still young and, as such, is still developing its services. This is why we expect several other bonuses for existing customers to be introduced soon.

Deposit and Withdrawals Options in New Jersey

At the time of writing there is a fair collection of available payment methods for bettors at the Prophet New Jersey betting exchange. We expect to see the list of banking options grow in the near future, but for now, these are the available options:

The majority of withdrawals will be processed and released by Prophet sportsbook for NJ customers in a few hours. It’s worth noting that some transactions may take several working days, but most requests will be processed and sent to you in less than 24 hours.

Before your first withdrawal, you may be asked to provide ID verification as part of the Prophet sportsbook safety procedures. Once you’ve done this, future withdrawals should be substantially faster.

Prophet Movile App Overview for iOS and Android

In addition to the web browser version of the Prophet Exchange site, you can also access this New Jersey sportsbook exchange via a smartphone app that can be downloaded from both the Google Play and Apple App stores.

Prophet Mobile App vs Desktop

While both the app and desktop versions of the Prophet sportsbook in NJ offer players same betting markets, bet and lay options, and ability to request and select odds, there are benefits for those who choose to bet on the run.

Smartphone and tablet players can access a touchscreen app with face or fingerprint ID for added security, an easy to use interface, and one click access to bonuses, betting markets, terms and conditions, and more.

Company Info & Customer Support Contacts for NJ Players

Customers can e-mail Prophet sports betting exchange in NJ by using the e-mail addresss or by filling out a form that can be found on the website. There is also a live chat that is open between 10am and midnight every day.

If you want to contact Prophet via social media, you can do so on Twitter, Instagram, or LinkedIn. For the swiftest response, we recommend the live chat option.

Prophet Exchange was created in 2018 by CEO Dean Sisun and COO Jake Benzaquen. The founders have spoken in depth about their plans to expand the Prophet Betting Exchange product to include player and team prop bets, futures, and more.

How to Play at Prophet – Expert Tips

If you’re in New Jersey and you want to try out Prophet sports betting exchange for yourself, here are a few steps you should take and tips to be aware of:

Conclusion – Prophet Is Approved for New Jersey

Peer-to-peer betting has been on the horizon for a while now, and thanks to Prophet sportsbook NJ, it’s finally here. With more freedom over selecting your bets than conventional sportsbooks, this is a unique sports betting experience. If you don’t think Prophet is the right choice for you and you’d like to try something different, read our guide to the best online gambling sites and explore your options.