Sporttrade

Ever since sports betting has become legal in the US, dozens of online sportsbooks have come and gone. The reason so many sites have trouble operating is the oversaturation of the market. In a copycat industry, everyone is struggling to stand out and come up with original ideas.

Sporttrade was introduced in 2022 and immediately set itself apart from the pack because of its innovative concept. It is a sports betting exchange rather than a conventional sports betting app.

I find this creative betting style to be very appealing as an experienced sports bettor. For a new sports bettor, it's probably best to learn the ropes on a standard sports betting app such as DraftKings or FanDuel. However, if you're an experienced stock trader but not a sports bettor, Sporttrade is a perfect place to bet as they speak your language.

One positive for the Sporttrade app is the excellent user experience. The app runs smoothly and has an easy-to-use structure. It really looks and feels like an exchange app had a baby with a sports betting app. The navigation makes it seamless to place and track your bets.

I also love the variety they offer in styles of odds and formats. It is the most customizable betting experience I have come across in my sports betting life. It allows you to change settings for both visual and functional purposes.

While they have the strength of originality, they have a weakness of not offering some features bettors are looking for. Most notably, they don't offer parlay betting. Also, their betting markets are fairly limited. To me, this app wouldn't replace any of my other betting apps, but it is a great addition to keep it diversified.

Sporttrade seems like an app that people would be very divided over. Those it appeals to will love it, and those it doesn't are better off opting for another sports betting app. If you are unsure if Sporttrade is right for you, check out the rest of this page.

One of the most important factors in a betting app is the promotions available. Using code BAST during sign-up, you become eligible for Sporttrade's $300 offer.

Sporttrade offers a unique sign-up bonus that most benefits those who bet in high volume. During your first 7 days after sign-up, you receive 10% cash back for all of the bets you place. The maximum amount you can earn is $300, which means you have to bet a total of $3,000 over the first week to get the full value of the promotion.

This sign-up promo is middle of the pack regarding betting app initial bonuses. While 10% cash back is significant, most bettors aren't playing through $3,000 in 7 days. However, that doesn't mean you need to deposit that large amount and risk it all. You still earn cash back on winning bets, so it acts as a boost in that way.

Unfortunately, there are no extra bonuses to take advantage of after the sign-up promotion. Unlike most other betting sites, there are no existing customer promotions or rewards programs. However, there is a referral program, where you earn 3% of your referral's bets through their first 7 days.

Due to the nature of the exchange format, there are no odds boosts, bonus bets, parlay insurance, or any of the daily promos we love. This is because we bet against the market set by other users rather than lines set by Sporttrade.

Hopefully, they find a way to add some value for existing customers in the future. Stock trading apps like Robinhood offer free shares from time to time, so maybe it can incorporate something of that nature.

You can buy any amount of shares you would like, as Sporttrade doesn't limit players. Other sports betting apps limit the amount you can bet, but because this is betting against other players, Sporttrade is able to allow zero limits. However, it does take a 2% commission on wins ($2 of the $100 in the example).

That is the basics, but you can change settings based on how simple or advanced you want your betting/trading experience.

Advanced trading mode allows you to 'short' any outcome. Shorting a stock means betting that the price of the stock will go down. A trader (or bettor here) borrows shares of the stock and sells them at the current price. Later, they hope to buy the shares back at a lower price, return them to the lender, and pocket the difference as profit.

Betting on Sporttrade may sound complicated at first, but it is swift and easy to learn!

Visually, Sporttrade's app looks and performs very nicely. I appreciate how much they make it feel like a trading app. In fact, the first page is even called 'portfolio' just like a stock exchange app would have.The four tabs at the bottom are Portfolio, Markets, Futures, and Account.

The portfolio tab lets you easily manage your current bets/contracts. Next, the markets tab shows all of the upcoming events. The top bar allows you to select by sport, but by scrolling down the markets page you will find it isn't properly separated by sport. Futures being its own tab next to markets is interesting but makes sense because there aren't deep markets on the app. Lastly, the account tab brings you to your preferences, financials, support, and protection.

The best part about the in-app user experience on Sporttrade is the customizability. Some of it is functional, while other settings are purely for visual preference. You can change from American odds to implied probability, choose simple or advanced trading mode, and turn on/off the liquidity display. Being able to customize your settings greatly adds to the overall user experience

Deposit and Withdrawal Methods for Sporttrade are:

• Online Banking (via Trustly)
• Venmo
• PayPal
• Cash at Cage (NJ on-site only)

This isn't the longest list of payment options for a sportsbook, but they cover the main ones that people use in this day and age. Venmo and PayPal make transactions super easy because you only need a username and password to access your funds.

Sporttrade has a low minimum withdrawal of just $5, which is a perk. Deposits are near instant, while withdrawals take 3-5 business days. The withdrawal speed isn't amazing, but is fairly standard.

If there's one thing I appreciate in a betting app it's innovation. Sporttrade has brought a twist to the industry with the betting exchange system. It truly commits to the theme and makes sports betting feel like trading stocks. The concept of sports betting exchange apps is catching on quickly and will continue to grow in the coming years.

This unique approach makes Sporttrade particularly appealing to experienced bettors and those familiar with stock trading. The app offers a smooth user experience with easy navigation and a customizable betting interface. However, it lacks some popular features, such as parlay betting and extensive betting markets, which may limit its appeal to some users.

Sporttrade's promo is attractive, but it might not be feasible for casual bettors who don't play through large sums quickly. Moreover, the absence of ongoing promotions or rewards for existing customers is a notable downside.

Overall, Sporttrade is a divisive app: those who appreciate its stock trading-style approach will love it, while others seeking a more traditional betting experience might prefer other options. If you're an experienced bettor or a stock trading enthusiast, Sporttrade is worth exploring for a fresh take on sports betting.

I see the upside, and personally think the ways it sets itself apart outweigh the negatives. It won't replace my other betting apps, but it will be an exciting addition that should be here to stay.