Sports betting bonuses have been around pretty much since the dawn of the internet, and have since only expanded and grown in terms of quality. Of course, they never properly reached our shores here in the US until the PASPA was lifted back in 2018, lifting the federal ban on online gambling. Since then, the quality of bonuses available in legal US gambling states has quickly grown. Today, some of the best betting bonuses in the world can be found in the US - especially in New Jersey.
So what better place to start our Prophet Exchange review than by discussing the awesome new customer offer. If you register an account and make your first deposit today, you can claim a 100% deposit match worth up to a potential $200. The minimum required deposit is just $10 and the bonus lasts for two weeks from the moment that it is deposited into your account. You only have to play through your bonus amount once before you can withdraw any winnings that you make from it. Not bad at all we say!
How to claim the offer
As we said above, in order to claim this bonus you simply need to register your Prophet Exchange account and make your first deposit of between $10 and $200. Prophet Exchange will then match your deposit with a bonus of the same amount. For example, if you sign up and deposit $50, you’ll get a $50 bonus - easy! In order to be eligible for the bonus, you need to be aged 21 or older and be physically located within New Jersey state borders.
The Prophet Exchange website has a minimalist design and, in all honesty, looks nothing like a sportsbook at all. However, this definitely isn’t a bad thing - as we mentioned above in our Prophet Exchange review, this operator doesn’t function like any other sportsbook either. Essentially what you have here is a unique overall design that is a near-perfect fit for an innovative and potentially trailblazing platform.
In terms of functionality, those of you with experience using traditional NJ online sportsbook sites will find things to be familiar at first. If you like, you can simply find the bet that you want to place and put your money on it at the odds being offered. However, Prophet Exchange also has a unique function known as peer-to-peer betting, which involves something called matched odds.
How the peer-to-peer betting platform works
This means that if you don’t like the odds that the house is offering, you can simply request your own instead. Sounds too good to be true right? Well, there is a slight catch - in order for your requested odds to be accepted, another user on the site has to accept the matched bet.
For example, if you don’t like the look of the house odds of +120 on your desired bet, you might make the decision to request the bet at +130 instead. Your request will then be put out there to other users and someone will need to accept the opposite outcome at odds of -130 in order for your bet to go through. Overall, we found this unique feature to be a positive thing for our Prophet Exchange review. That being said, it is advantageous that the platform also offers traditional fixed odds sports betting as well. To summarize, we’d say that the hybrid model is the key to Prophet Exchange’s potential for success.
When it comes to depositing funds into your Prophet Exchange account, things are pretty streamlined. You can make a deposit in USD via either online banking, wire transfer, or by paying in cash at the cage at Harrah’s Casino in Atlantic City, NJ. As a general rule, we do prefer to see a bigger selection of payment methods on offer. However, that doesn’t necessarily mean that this has set back our Prophet Exchange review too much.
The advantage of having a small selection of payment options is that it doesn’t confuse things too much. This is especially a good thing for those of you who are completely new to online betting altogether. The minimum required deposit is just $10 and the processing time for online transfers should take minutes if not seconds. The maximum deposit amount varies between the three different deposit options.
The one thing that you will need to check is if your bank allows you to make payments to online betting accounts. Fortunately, Prophet Exchange has got you covered as they list all of the US and NJ banks that permit online gambling payments. You can find this in the very useful help center, which we’ll cover in the following section of this Prophet Exchange review.
Withdrawing funds from your Prophet Exchange account can be done using any of the three payment methods listed above. As a rule, you will be required to withdraw to the same bank account that you used to make your deposit, and the bank account must be in your name. Of course, this doesn’t apply if you plan on depositing and withdrawing at the casino cage all the time.
As is the case with deposits, the minimum amount is just $10, however, the processing times will take a little longer. Of course, withdrawing at the cage will result in you getting your cash instantly, but you do have effort and travel time to take into account. Bank transfer withdrawals will take between three and five business days.
Prophet Exchange really managed to impress us with their high standard of customer service. Although they aren’t available 24/7, you can still reach them via live chat, phone line, and email between the hours of 10am and midnight (EST). We received quick responses during all opening hours when testing each channel and found the level of help to be up to a very high standard.
As we’ve explained throughout this Prophet Exchange review, this site offers something new and innovative to the US. Naturally, this will leave some traditional sports bettors with some doubts and a level of apprehension. In offering such a high level of customer service, Prophet Exchange has done its best to put your mind at ease as much as possible.
In addition to the three main customer service channels, you can also reach Prophet Exchange via their social media platforms, where Prophet Exchange reviews from existing users have been strong. Prophet Exchange is currently active on Instagram, Twitter, LinkedIn, and YouTube, where you can find helpful videos to guide you through the peer-to-peer and matched odds concepts.
We can’t round off this section of our Prophet Exchange review without giving mention to the help center. This is easy to locate on the site and contains articles to answer almost all questions that you can think of. It has clearly been well constructed and is worth making use of before contacting the customer care team.
Prophet Exchange is based right here in New Jersey, with its headquarters in Hoboken and its online operation being run through Harrah’s Casino in Atlantic City. The company has a valid online gambling license from the New Jersey Division of Gaming Enforcement (NJDGE), meaning that any adult aged over 21 who is physically located within NJ state lines can legally use the site. You do not have to be an NJ resident to bet with Prophet Exchange, but they do use geolocation technology to establish your location.
Is Prophet Exchange secure?
As well as tackling the question of legality and reliability, testing out the security measures in place is also a vital part of this Prophet Exchange review. We’re pleased to inform you that everything looks airtight when it comes to the security measures in place with this operator. One advantage of only accepting bank transfers and cash payments is that no financial transactions are processed on the site itself at all, which is great for online security.
We started off this Prophet Exchange review by telling you all about the awesome welcome offer that’s available to you when you register your account and make your first deposit. Well, there’s better news coming your way now, as the welcome bonus isn’t all that’s available to you at Prophet Exchange. Additionally, there are also plenty of bonuses and promotions for loyal and existing users.
For starters, there’s the refer-a-friend promotion, through which you and your friend can get a $50 bonus each if they successfully sign up to Prophet Exchange and make a deposit. To claim this offer, you simply need to give your friend a special link. Then if they sign up with this link and make a deposit on the site, you will each receive a $50 bonus. The great thing about this is that there is no limit on the number of users that Prophet Exchange can host. As a result, there’s no limit on the number of times that you can claim this bonus.
Prophet Exchange VIP
It’s probably worth using this section of our Prophet Exchange review to inform you that the VIP program here works a little bit different from what some of you might be used to. Instead of being a points-based loyalty system, VIP status at Prophet Exchange is given out on a selection basis that is based on your betting activity. Those with VIP status are given a reduced commission percentage on matched odds bets.