Prophet Exchange Promo Code – $200 Bonus for New Jersey

Prophet Exchange has opened its doors in the state of New Jersey. With more than 20 online sportsbooks already active in the state, this may not seem like a big deal… but Prophet Exchange is different. Prophet is not an online sportsbook, it’s a sports betting exchange – the very first in the United States market.

With Labor Day weekend on the horizon and a schedule that’s chalked full of Week 1 college football games to bet on, it’s a fantastic time to take advantage of the Prophet Exchange $200 bonus – no promo code required.

Prophet Exchange NJ bonus offer

Prophet Exchange has debuted in the Garden State with a welcome offer that consists of a 100% up to $200 deposit match bonus.

With this deposit match, it means you can deposit any amount up to the maximum of $200 and Prophet Exchange will match it with a bonus. So if you sign up and deposit $100, Prophet will award you $100 in bonus dollars. Deposit $200? That’s a $200 bonus. If you want to deposit more than $200 – you can – but Prophet won’t credit you with more than $200 in bonus dollars – it’s capped at that amount.

Prophet Exchange bonus T&C

Once you sign up with Prophet Exchange, deposit, and have your bonus in hand, there are a few Terms and Conditions to keep in mind as you use your free bets.

• The bonus is awarded based on your first deposit only. Any subsequent deposits will not count towards the match bonus promotion.
• Any Prophet Exchange bonus dollars awarded will expire in 14 days time. So be mindful that once they hit your account, you will want to use them in short order.
• This Prophet Exchange bonus is only available for bettors in the state of New Jersey, aged 21 and up.
• There is a 1x playthrough requirement on any Prophet Exchange bet credits awarded through this promotion. However, that 1x does include your initial deposit as well – so it plays more as a 2x.
  • For example, if you deposit $200 and receive a $200 bonus from Prophet Exchange NJ, you would need to wager $400 total with the sportsbook before you can withdraw the bonus.
• You can’t match your own bets to clear the bonus.
  • Let’s elaborate on this a bit. Since Prophet Exchange allows bettors to wager directly with other users, in theory, someone could split their $200 bonus down the middle and put $100 in site credit down on one side of a market, and then take the other side with their other $100 in bet credit. The result would be, more or less, a break even bet with your free bet credit converting to cash. You can’t do this.
• No Prophet Exchange bonus code is required to claim this bonus.

Prophet Exchange: A different approach

Prophet Exchange is the first legal sports betting exchange in the United States, making it different from every other traditional sportsbook on the market. So what makes it so different?

With a betting exchange you are placing bets directly with other people – not the house. Prophet Exchange serves as the middle man. It will display the odds, finalize your betting terms, hold the money, and eventually award the winner. In return they collect a fee from each transaction. However, Prophet Exchange does NOT set the odds, and they don’t collect traditional rake or “vig” from each bet.

With a betting exchange like Prophet you can set your own prices. As long as you can find a taker, the sky is the limit. Generally speaking, exchanges can offer better odds and less rake. Think of Prophet as an open sports betting marketplace.

Cons of using a betting exchange

So we’ve discussed the good aspects of betting with an exchange, but it’s worth highlighting that there are a few gaps in what Prophet Exchange brings to the table. Primarily: betting options.

Since it’s an exchange – not a sportsbook – Prophet Exchange can’t offer parlays, props, teasers, etc. Which makes sense, if you think about it. With the betting exchange model you’re actually wagering directly against other people… and no individual person want’s to lay 20000-1 odds on a long shot parlay and be on the hook if it hits. Because, while they’re long shots, sometimes the big parlays hit.

While betting with Prophet Exchange, you’ll be predominantly limited to moneylines, spreads, and totals.

Bet with Prophet Exchange Labor Day weekend

With College Football Week 1 upon us, the NFL peeking around the corner, and MLB entering the final stretch – it’s hard to picture a better moment to try out Prophet Exchange and their $200 deposit match bonus. Top betting events for Labor Day Weekend include:

• Oregon vs Alabama – Saturday, 3:30pm ET
• Notre Dame @ Ohio State – Saturday, 7:30pm ET
• Florida State @ LSU – Sunday, 7:30pm ET
• Clemson @ Georgia Tech – Monday, 8pm ET
• Formula 1 Dutch Grand Prix – Sunday, 9:00am ET
• MLB: 15 games Saturday, 15 games Sunday, 13 games Monday
• English Premier League: 8 games Saturday, 2 games Sunday