How to use Sporttrade
Sporttrade differs from traditional betting apps, as it qualifies as a betting exchange. With a betting exchange, players are actually wagering against other players rather than the sportsbook. This means the odds are not set by oddsmakers for the sportsbook, but are determined by the amount of money and wagers on each side of the bet.
Since you aren't betting against the sportsbook, Sporttrade collects 2% of winnings. Don't worry though, because that is already factored into the potential payout it shows you when placing an order, so you know exactly what it will pay.
Even though the lines are set differently and look different depending on the settings you choose (we'll get more into that later), betting essentially works the same. You choose which side you are on, and place a wager of any size on that result to happen.
On Sporttrade, your bets are in the form of shares. Whatever price the bet is trading at, you buy shares for that amount. You can buy multiple shares or fractions of a share depending on your bet sizing. Then when the event ends, all shares settle at either $100 or $0 depending on whether the result you picked wins or loses.
If you want to learn more, read this full Sporttrade review.
How to Use Sporttrade: Example
Just like any other betting app, you are choosing which side of the bet you think will win.
Sporttrade offers moneyline, spread, game totals, and futures.
As you can see, the odds are listed in multiple ways. Here, American odds are listed in green and are based on $100 bets.
This is the form of odds most Americans are familiar with from other betting apps.
The unique odds system is the implied probability odds Sportrade offers.
This is how much it costs to buy one share of that result. Implied probability means that the side closer to $100 is the team more likely to win
Pick whichever odds style is easiest for you to understand.
Now it's time to decide how much you want to bet.
- Buy shares (you can buy multiple, or fractions of a share)
or
- Choose the dollar amount you're looking to wager
Click Place Order - and you're good to go!
Sporttrade LiquiBoost
If there is a bet listed that doesn't have the liquidity you want, you can message Sporttrade and it will find someone willing to take the opposite side. You must be looking to buy at least 50 shares to use this feature, so this feature is for the high rollers.
Bettors using American odds:
- A $100 bet on Tampa Bay will pay $347 in profit in a win
- A $396 bet on Kansas City will pay $100 in profit in a win
Bettors using implied probability odds:
One share for Tampa Bay to win costs $22
- One share & resulting in a win= $100 ($78 profit)
One share for Kansas City costs $79.5
- Buying one share & resulting in a win= $100 ($20.5 profit)
Of course, any bet resulting in a loss will settle at $0
- States where you can use Sporttrade
The 5 states Sporttrade is available for use are:
- Arizona
- Colorado
- Iowa
- New Jersey
- Virginia
Anyone 21+ can create a Sporttrade account, even if they don't live in one of these states. However, you can only wager when you are located in one of them.
It should be noted that New Jersey is currently the only state that Sporttrade legally operates as a betting exchange, but it still functions similarly to one in the other states. If there is a bet you don't see, message Sporttrade and it will search for someone to take the other side of that bet.
Why use a betting exchange like Sporttrade?
The main benefit of the betting exchange style is the better odds it produces. Sportsbooks that make their own odds take more juice, but Sporttrade odds are set by the bettors on each side of a market. This results in better value for the player. A 50/50 bet on standard betting apps is usually represented with -110 odds, whereas Sporttrade will offer it as a true even payout.
It may not seem like a big difference, but it adds up quickly and greatly affects the payout for large bets.
Improved odds are the pride of Sporttrade, as it's confident that you won't find better anywhere else.
Sporttrade attracts betting sharps and high-value bettors for good reason. Besides the better odds, Sporttrade also allows you to bet much more on any given order than other betting apps. The maximum bet for any order is capped out at an astounding $200,000. If someone is betting this amount, the odds make a world of a difference.
How to Customize Settings on the Sporttrade App
Under account preferences, there is a button for 'Trading Experience.'
Here you can change:
Odds Price - Choose between implied probability (ex: $61.5) or American odds (ex: -163).
Trading Mode - Choose between simple (shorting is not allowed) or advanced (shorting is allowed).
Bet Type - Bet in dollars or shares.
Display Settings - Turn on or off the display of American odds & liquidity (how many shares are available) when looking at a market.
How to Sign Up For Sporttrade
Download Sporttrade App
1. Download the Sporttrade App
After clicking the link, you'll be directed to download the Sporttrade app from the App Store or Google Play Store.
2. Enter Your Referral Code
Entering the referral code comes early in the process, so you don't want to miss it by accident. Once you click sign up, there will be an option 'Have a referral code' at the bottom of the screen. Click in, and enter code BAST before hitting submit.
3. Continue to Sign up for a Sporttrade Account
After the referral code is entered, you'll continue the process. To sign up, Sporttrade needs your:
- Email address
- Full legal name
- Date of birth
- Phone number
- Address
- Last 4 digits of SSN
- Form of ID (driver's license, passport, other)
4. Start betting with Sporttrade!
Once your information is confirmed by Sporttrade, your account is ready to go! Make your first deposit and begin betting with this special betting exchange.
Earn 10% Cash Back up to $300 Over Your First 7 Days
21+. New customers only.
CO/IA/NJ only.
Deposit required. Earn 10% cash back on each qualifying wager through the first 7 days of betting, up to $300 ($3,000 to reach max value). The promotional period begins after the first wager. Cash back will be awarded within 72 hours at the end of the player's 7 day period as a single sum.
See full T&C at Sporttrade.
Sporttrade Sign Up Bonus
When new players sign up for Sporttrade using the promo code BAST, they can take advantage of the new user offer. For the first 7 days, new users earn 10% of their bets back, win or lose. The max value is $300, so it takes $3,000 in bets to claim it all. However, this doesn't mean you need to spend $3,000 since the cashback is awarded in wins as well.
The cashback is awarded to your account after the first week is over and is then immediately available for withdrawal. It isn't bonus bet money or balance that comes with a play-through requirement, it is yours to take.
Sporttrade FAQ
Yes, Sporttrade is a great app for live betting. Live bets go through extremely quickly without the lines changing on you as you try and place it. You end up with the best live betting odds with Sporttrade.
Currently, Sporttrade doesn't have parlay options. However, it is something Sporttrade is looking to add in the future.
You can download Sporttrade from the App Store or the Google Play Store. From there, you can sign up in just a few steps.
Yes, if you use the promo code BAST you can claim the valuable bonus Sporttrade offers. Earn 10% back during your first week of betting (up to $300).
Sporttrade recently launched in Virginia, making it legal in 5 states.
- Arizona
- Colorado
- Iowa
- New Jersey
- Virginia
Sporttrade will focus on building its product in these states before any further expansion.
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