Sporttrade Review

Sporttrade Review

For sports fans whose favorite movie is The Wolf of Wall Street, Sporttrade might be your new favorite sports betting portal. Instead of betting casino odds, Sporttrade invites users to purchase and sell shares of a certain outcome, with the share price based upon projected win percentage, enabling customers to buy low and sell high before and during the contest. It operates and feels more like a stock trading app like RobinHood than a sportsbook.

Similar to other sports exchanges, Sporttrade doesn’t take wagers itself, but rather pairs users on opposite sides to book bets, taking a small commission on each profitable transaction. Keep reading to see if this unique sports betting experience is a good fit for you.

Sporttrade Quick Facts

Sporttrade Locations

Sporttrade is solely available in its digital format and exclusive to New Jersey. If the sports exchange format catches on there, expect them to expand to other states in the future.

Sports Leagues to Bet On

Sporttrade offers all four major professional domestic leagues (NFL, NBA, MLB & NHL) along with PGA and LIV Golf, WNBA, NCAA college basketball and college football. Sporttrade currently only offer trading on Moneyline, spread and Over/Under markets, but encourages users to stay tuned to social media for updates and expansions. 

NFL Betting

Sporttrade allows for bettors to execute trades on ML, spread and total markets. Every NFL game on the slate has all three betting markets offered.

NBA Betting

NBA action is fast and furious, with markets fluctuating with every basket. ML, spread and total markets are available for every NBA game in the regular season and playoffs.

College Football

Nearly every Power Five and several smaller college football games have trading options for ML, spread and total bets, giving college football fans plenty of options every Saturday. 

College Basketball

College hoops fans can buy and sell their outcomes involving their favorite teams, riding their alma mater to the moon. You’ll be able to trade ML, spread and totals for each contest. 

NHL Betting

Put the market on ice with ML, puck line and total trading available for every NHL game. Sporttrade users can buy at a lower price while their team is on the penalty kill or cash in and sell high while they’re on the power play.

MLB Betting

Users have the chance to show off their diamond hands on the baseball diamond, executing trades on every MLB game on the slate. ML, run line and totals are all offered on the Sporttrade portal.  

Other Sports Leagues

PGA and LIV Golf is available, with player head-to-head markets and futures both available for trading. As an example, all those futures that you’ve never been able to cash out on other platforms can pay off big time at Sporttrade. If the golfer you bought shares of early in the week has a couple of good rounds on Thursday and Friday, sell your shares before moving day to make a nice profit.

Online Betting Experience

The Sporttrade website is basically a massive ad for the mobile app, but it does contain a FAQ section and a robust ‘Sporttrade 101’ section that tells the user all they need to know about the product and how to use it.

Website Experience

The website makes a huge push for users to download the app, the only way to actually buy and sell through the Sporttrade portal. It’s simple to navigate with three main sub-sections immediately off the home page - Learn, Company & Support. The Learn page is likely the most valuable to users as it gives a complete rundown of what to expect and how to make trades on an otherwise foreign platform. The Company tab gives the user the app’s back story and the ability to connect with the company while the Support tab is a direct link to a ZenDesk portal with several support tabs available. Sporttrade definitely values function over fashion with their website design, and for most looking to dive into this app, that’s just fine. 

Mobile Betting and Betting App

The mobile app is intimidating at first, but once users overcome the initial learning curve it is relatively intuitive. The app has four main landing pages: Portfolio, Markets, Futures, and Account. Share prices for each game (with either spread, ML or total) are available on the MARKETS tab while the new FUTURES tab is home to all kinds of future bets, including league winners, conference winners, award winners and much more that change throughout the season. Meanwhile the PORTFOLIO tab houses all the users active orders and trades while the ACCOUNT tab holds basic account information. 

The navigation of the Markets and Futures tabs are both relatively simple with “Trending” and “Live and Upcoming” events featured at the top. The prices adjust very fluidly throughout the course of each game, allowing users to buy or sell quickly and efficiently to maximize profit.

Live Betting

In-game trading can become a little complicated with purchase orders and sell orders, but if the user has ever traded on RobinHood or Coinbase, they should be familiar with the format. Sporttrade prides itself on being the most efficient live-betting platform on the market, executing purchases and sales of what they call contracts at top speeds. 

Casino, Poker, & Other Gaming Options

Sporttrade is exclusively a sports betting exchange and does not offer any other alternative gaming.

Sporttrade History

Founded by Alex Kane in 2018, Sporttrade has quickly gained steam as an alternative to the traditional sportsbook model, operating as an exchange instead.

Kane and his team are looking to capitalize on the boom of casual investors that caused retail trading to nearly double year to year during the pandemic by converting American sportsbooks odds into share prices, speaking the language of the investor as opposed to the sports bettor.

“We fundamentally believe that what we are building is so much closer to options trading or futures trading than traditional sports betting and casinos,” said Kane in a 2021 Philadelphia Enquirer article. The company has since secured significant funding from investors and companies like Nasdaq and Impression Ventures.

Customer Ratings & Reputation

Customers have raved about Sporttrade, with over 90% of reviews on the Apple App Store giving it five stars. Users are complimenting the platform’s format and liquidity while praising its buying and selling in comparison to sportsbook buyouts. Users also praised the “full control” that the app gives them over their wagers. However, users commented on the steep learning curve for the app. 

Customer Service

The Sporttrade website offers a robust Support page with answers to most of users frequently asked questions displayed front and center, and divided by commonly useful sub-sections such as Getting Started and Managing Trades. With the click of a button, users can enter a live chat with a support person on the other end, submit an email, send a Twitter DM or request a callback from a live support person. Support personnel are responsive and knowledgeable, answering support inquiries quickly and efficiently. 

Sporttrade Contact

• Live Chat
• Callback
• Email: support@getsporttrade.com
• Twitter: @SporttradeHelp

Sporttrade Legal Betting

Sportttrade is monitored by the New Jersey Division of Gaming Enforcement

Responsible Gambling

Sporttrade offers the option to set deposit limits, time limits, self exclusion, and cool off periods.Remember that the legal age for sports betting in most states is 21+. This is subject to regional regulation. Please play responsibly. 

Here are a few resources to help ensure you are gambling responsibly.

• National Council on Problem Gambling (NCPG): The NCPG has over 50 years of experience assisting people and families affected by problem gambling. You can call or text them (1-800-522-4700) or join their 24/7 Live Chat.
• Center for Problem Gambling: The Center has been funded by the New York State Office of Alcoholism and Substance Abuse Services (OASAS) since 1996. They are committed to serving anyone affected by a gambling addiction. Treatment is confidential and provided regardless of a person’s ability to pay. Their gambling counselors have significant experience working with problem gambling and include therapists who are Nationally Certified Gambling Counselors.
• BeGambleAware.org: Offers free, confidential help and support to anyone worried about gambling for themselves or others.
• Gambling Therapy: A global service provided by Gordon Moody offering free emotional support and advice to anyone affected by gambling.

Why Choose Sporttrade?

Sports fans looking for something completely different from the traditional sportsbook experience can find it in Sporttrade. Modeled more like a finance investment app than a sportsbook, Sporttrade excels in its speed and liquidity while offering better odds than the traditional sportsbook with its exchange model. It might be most appealing for future bettors, whose long-term investment fits better with this model. Instead of hedging a future bet on a traditional sportsbook, Sporttrade users can place a buy order on a future and a sell order as soon as the price goes up enough for a solid profit.

Even veteran sports bettors may have a steeper learning curve to overcome than those new to the wagering world, and the lack of markets compared to traditional sportsbooks may turn off people. However, the model could be profitable enough that the old dogs may be convinced to learn some new tricks.