Prophet Exchange, a company that enabled bettors to place wagers against each other, entered the United States with its product launch in New Jersey back in August 2022. The company set foot only in the Garden State as offering the activity in other states was difficult primarily due to the regulatory frameworks.
Earlier this year, Prophet Exchange confirmed its New Jersey exit. However, this didn’t mean that the company has given up on the lucrative US market, considering its expected return across the country expected next month.
Earlier this week, Prophet Exchange confirmed its plans to launch its new product, ProphetX, in more than 40 US states. Unlike the previous time, the platform now will offer free-to-play sports betting, a model that is also popular as sweepstakes. ProphetX will offer bettors a chance to participate in sports betting action with virtual currency.
Each bettor will be given virtual currency when opening their account and they will also have the option to purchase more of that currency. The sweepstakes game will enable players to engage in exciting betting action. They will also have the ability to win real prizes.
“We are very close to the initial launch of ProphetX! For those who have been wondering, we will be available in 40+ states,“
reads a statement released by ProphetX
ProphetX to Cater to New Sports Bettors
Unlike the previous time when Prophet Exchange entered only New Jersey, this time, ProphetX will be available in a range of markets. Besides New Jersey, the sweepstakes game is expected to launch in major markets and states with high populations, including New York, Pennsylvania, Illinois and Texas. The game will be available to customers on the entire East Coast, as well as states in the Midwest and Southwest.
Jake Benzaquen, ProphetX’s co-founder and COO, who was recently interviewed by Covers, spoke about the company’s transition to the sweepstakes model. He said the company developed a “completely free-to-play product that will be catered to novice bettors, some who have never placed a bet before.”
“Pivoting from the regulated gaming space to a sweepstakes model, we wanted to move forward with a brand that represented our new venture,“
Jake Benzaquen, co-founder and COO at ProphetX
Although it is free, Benzaquen said that the unique selling points of ProphetX are the best odds and the ability to deliver exceptional experiences. The executive said the company anticipates attracting a wide pool of players.
Last but not least, Benzaquen confirmed that a beta version of the product is expected to be launched this week. Then, around mid-August, the complete launch of ProphetX is expected.
