Ohioans may have an additional way to wager on sports in the coming 2023 launch. Prophet Exchange, the company behind the first betting exchange platform in the United States, has announced plans to launch in Ohio in early 2023.
This news comes after Prophet Exchange debuted its platform in New Jersey in August. The company is partnering with NHL’s Columbus Blue Jackets to make this happen.
New Sports Betting Model Coming to Ohio
A new betting model is coming to Ohio, and it’s set to shake up the industry as the Prophet Sports Betting Exchange platform plans to expand its market. This fresh approach will allow customers to bet against each other on different sporting events, which could lead to more excitement and bigger profits for those who take part.
This betting model will allow customers to choose between the +100 odds on spreads and totals, request their own odds, and even give them market-making capabilities- things that are not offered in traditional sportsbooks.
In addition, there is also no limit and dedicated customer support for impartial and professional advice related to the platform.
This could be just the second state to experience Prophet’s betting model as it is relatively new. However, Prophet Exchange Co-founder and Chief Executive Officer, Dean Sisun, stated that the New Jersey launch was successful and the organization desires to join the sports gambling Ohio industry.
“Although commonplace in markets like the UK, exchange betting is a brand new concept in the United States – and our expansion is another big step in our mission to become the mainstream sports betting platform in the country,” Sisun continued.
In addition to this new platform, Prophet Exchange has also partnered with NHL’s Columbus Blue Jackets. As per Jake Benzaquen, another Prophet Exchange co-founder and the current chief operating officer, they are thrilled to have an alliance with Columbus Blue Jackets as its popularity will be a significant boost in making the exchange betting stand out in the upcoming market.
The COO also said that the platform will “help Ohio bettors make more money from their wagers than they would with traditional sportsbooks.”
In addition, Benzaquena is confident that sports betting in Ohio will be one of the country’s largest markets and the bettors may soon take advantage of their unique features.
Ohio Sports Betting Update
Ohio sports betting application period already ended earlier this month the Casino Control Commission is still in the process of verifying if the applicants are qualified. It already granted more than 800 conditional approval but more approvals are expected as there are more than a thousand business hopefuls.
The Commission may grant up to 40 retail sports betting licenses while 25 online sports betting licenses can be launched.
Some of the popular sportsbooks in Ohio Include:
- Fanduel partnered with Belterra Park;
- DraftKings inked a deal with Hollywood Casino Toledo;
- Caesars will be working with Scioto Downs and Cleveland Cavaliers; while
- BetMGM will be allied with MGM Northfield Park, Cincinnati Reds, and
