This review will introduce you to an innovative new peer-to-peer sports betting site called ProphetX.
The new site debuted in August 2024 as the rebranded version of the now-defunct peer-to-peer NJ betting site, Prophet Exchange. After launching in August 2022, Prophet Exchange faced a tough time competing in the crowded NJ market, the only state where it operated, and closed its doors in May 2024.
ProphetX, like its predecessor, differs significantly from other sports betting sites you may be using in multiple ways. Instead of betting against the house like you do at traditional sportsbooks, users place bets against one another. In addition, if a registered player does not like the posted odds on a particular outcome, he or she can propose alternative odds and hope for a match by another user on the opposite side. In other words, customers have the option to be either price makers or price takers.
This is the same peer-to-peer betting platform that Prophet Exchange offered but with a new twist. ProphetX also incorporates a sweepstakes model that allows it to operate legally in the vast majority of states (39 as of this writing), including many where traditional online sports betting is not currently legal. ProphetX is one of the latest social betting sites looking to disrupt the sports betting markets in the US.
| Pros | Cons |
|---|---|
| Innovative site combining a sports betting exchange (matched betting) with a sweepstakes model | No sign-up bonus |
| Available in 39 states | Coverage is limited to a few mainstream sports |
| Customers can set their own odds in lieu of accepting the published odds | Limited bet options (i.e., no parlays) |
| Prophet Boosts | All wagers require another customer to bet the same amount on the opposite side |
| Live betting | No live streaming |
| No vig on losing spread and totals bets | No early cashout option |
| Numerous arbitrage and hedge betting opportunities to guarantee steady small profits | No loyalty rewards program |
| Mobile device friendly | Customer support is limited to FAQs and email |
ProphetX Sign-Up Bonus
When ProphetX first launched in 2024, it did not offer a sign-up bonus. Instead, it was counting on other special features to be a sufficient incentive to join. However, the operator subsequently realized that a sign-up bonus would be a highly desirable addition to make ProphetX more competitive with other successful betting sites.
Accordingly, all new players who make their first purchase on or after 11/6/24 are eligible to receive 1.5% up to $200 back on all matched cash bets during the first 30 days in the form of a Prophet Cash bonus. The maximum signup bonus is 300 in Prophet Cash. The entire bonus must be wagered 1x before the bonus along with any resulting winnings can be withdrawn as cash prizes.
Our Favorite Betting Tools and Features at ProphetX
Given how competitive the online and mobile sports betting industry is, the ability to attract and resonate with a large customer base is vital. As the now-defunct Prophet Exchange learned the hard way, the likelihood of long-term success depends not only on aspiring to match the top sportsbooks in the basic characteristics that matter to bettors most but also on offering unique special features. ProphetX has made some notable improvements along these lines but still has a long way to go. Here are our favorite betting tools and features at ProphetX social betting exchange.
Two Modes of Play: Prophet Points and Prophet Cash
Prophet Points, which registered players can purchase anytime with one of the accepted payment methods for funding their account, can be used to play for fun. These points have no monetary value and any resulting winnings are not cashable. However, if you are new to sports betting and/or money is tight, Prophet Points are a great way to test and improve your skills.
You can purchase Prophet Points to use, or even by a Prophet Points bundle as you play more on the site.
Prophet Cash, on the other hand, does allow you to win cash prizes with your bets. Prophet Cash cannot be purchased, but you can earn it in any of the following ways:
- As a sign-up bonus, such as a matched Prophet cash offer
- As a bonus when purchasing Prophet Points
- In a free giveaway contest
- Via a mail-in entry
- As a bonus each time you successfully refer a friend, where you can redeem Prophet cash
Prophet Cash also carries a 1x playthrough requirement before you can redeem the bonus plus any winnings therefrom for US dollars. It is essentially receiving free Prophet cash from using any of the above options. A social betting welcome bonus works with the same principles as a traditional sportsbook.
Improved Odds
At traditional sportsbooks, bettors who do not like the published odds have little leeway in what they can do about it. The leading sportsbooks offer daily odds boosts and profit boosts on select bets, but typically, they are only valid for highly specific props bets and same game parlays (SGPs) that are hard to win. These bets also tend to have low maximums (i.e., $100 or less).
ProphetX bettors do not face any of these problems. The site offers daily boosted odds that are valid for straight bets, totals, and Y or N props without any pre-set limit as long as another customer responds with an opposing bet in the same amount.
Alternatively, users who wish to place a bet but only if they can get better odds than the site offers can customize the odds more to their liking, so you have more of your own odds. However, care must be taken to keep the requested odds change within reason or there will be no takers to bet on the opposite side.
Arbitrage Betting
Arbitrage betting is a special tool that when used properly guarantees a small profit no matter which side wins. It is very popular at overseas sportsbooks, yet most US sports bettors either never heard of it or are clueless about how to use it. Moreover, the few who try are likely to find very few opportunities.
At ProphetX, however, the use of arbitrage betting to lock in a profit is not only a readily available option but actively encouraged. Start by betting on a boosted market at a traditional sportsbook. Then make an opposing bet at ProphetX for the amount recommended by an online hedging calculator.
Low Commissions
All regulated traditional US sportsbooks charge a vig (typically 10%) on point spread and over/under bets. This extra charge is added to the total cost at the time you place your bet, and you only get it back if the bet wins.
ProphetX customers get a big break because the sportsbook does not charge any vig on losing bets. Instead, it makes its money by taking out a small commission (3%) on winning bets.
Live Betting
Virtually all major legally operating US sportsbooks now offer live or in-play betting in addition to pre-game betting, and ProphetX does, too. This is a very popular feature because it not only gives bettors many more ways to win but keeps them actively invested throughout the game. However, live betting options are much more limited at ProphetX than elsewhere.
Only a handful of mainstream sports are covered, and no bet can be completed until it is matched by an opposing bet, which rules out all nearly instantly determined outcomes. Action is confined to straight bets, totals, and a few simple props that take longer to be decided.
Excellent Mobile App
GetProphetX has certainly been designed with mobile players in mind, and they have a dedicated mobile app for both iOS and Android users. With this in mind, it is no surprise that the interface has been extremely well designed and easily accessible. You can build up your social bets with just a few taps of the screen, and all of the sports available are displayed in the header.
There list of tabs at the bottom of the page include links to the homepage, the sports betting lobby, current picks, and the shop. We definitely feel like the app is one of the major strengths of ProphetX, due to the speed, design and overall responsiveness. It certainly makes betting remotely a pleasure.
Unique Yes/No Betting
We know by now that ProphetX is not like traditional sportsbooks, and another unique quirk they bring to the table is its yes/no betting options. This allows users to bet ‘yes’, or ‘no’, to specific outcomes, like a home run, double-double, or the first touchdown scorer. This option gives bettors complete control over how they want to place their bets. ProphetX customers can also request their own odds and then have different players accept the bet, either live or pre-game, which means they will have odds tailored to them.
Our ProphetX Experience and Score
| Review Areas | Score (1-10) |
|---|---|
| Welcome Bonus | 8 |
| Betting Markets | 6 |
| Banking | 6 |
| Support | 7 |
| Safety | 8 |
| Promotions | 7 |
ProphetX Sports Markets
ProphetX’s sports market coverage is not anywhere near that of some of the top online sportsbooks like DraftKings, FanDuel, or bet365. So, if your betting interests extend to relatively unfamiliar foreign leagues or niche sports like cricket and snooker that do not receive heavy action from US players, you will have to look elsewhere. Surprisingly, even boxing and tennis are notably absent from the short list of sports you can bet on at ProphetX.
Perhaps, down the road, ProphetX will expand its offerings, but for now, this site’s strong suit is allowing bettors a much bigger say than most sportsbooks do in adjusting the odds in existing markets to their benefit. Here are the sports and leagues that you can currently bet on at ProphetX.
- NFL
- NBA
- NHL
- MLB
- MLS
- NCAA Football
- NCAA Basketball
- UFC
- The English Premier League and other prominent international soccer leagues
- Select PGA and DP World Tour golf tournaments.
Customers can also choose from the following bet types:
- Moneyline bets (which team will win outright)
- Point spread bets
- Over/under bets
- Props bets
- Live bets
- Futures bets
However, not every bet type is offered in every sport, and parlays are not an option in any sport. If you are going to be doing parlay bets, then you may want to check out our separate guide to the best parlay betting sites.
States where ProphetX is Legal
The ProphetX sweepstakes sportsbook is legal in 39 states, which include:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia Yes
- Washington
- West Virginia
- Wisconsin
- Wyoming
The reason ProphetX is legal in 37 states is because if follows the sweeps model. With this model, the player is purchasing free currency, instead of making a deposit. You are then given another currency, in this case Prophet cash, that can be turned into cash when you bet. So the principle is that you are not betting real money, you are only betting with the other betting currency which can converts into cash.
This model means operators have scope to launch new sites in new states where sports betting is either very limited or not legal at all. They are also referred to as a social betting site or social sportsbook. With ProphetX, you can claim your social betting bonus as you would with a traditional sportsbook bonus only in this case it gives you funds to make a Prophet points purchase rather than you receiving bet credits.
ProphetX Banking Methods
Banking options are also very limited. They currently include:
- Online Banking
- MasterCard, Visa, and Discover (deposits only)
- PayNearMe (deposits only)
ProphetX Support and Contacts
The FAQ section does a good job addressing many questions, but sending an email is another option for customers who need additional help. Unfortunately, ProphetX does not offer live chat or 24/7 phone support.
Is ProphetX Legal?
Yes, ProphetX is currently legal in 39 states (all except AL, CO, ID, KY, LA, MI, MT, NV, OH, TN, and WA). The minimum age to bet legally on ProphetX is 19 and it is legal in so many states as it is follows the sweepstakes betting exchange model. If you live in those states, you can download the app on the App Store or the Google Play Store depending on which device you have.
Regular Deals and Rewards at ProphetX
ProphetX does not offer a loyalty rewards program. Special deals include Profit Boosts on select bets and a Refer-A-Friend program whereby existing customers earn 10 Prophet Cash for each successful referral.
ProphetX Review Verdict
ProphetX is a good choice for bettors whose priority is getting the best odds possible, saving money by not paying a vig on losing bets, and taking advantage of arbitrage betting to lock in profits. However, ProphetX is not for everyone. If extensive market depth and betting parlays are important, you should consider one of the top traditional sportsbooks instead.
We should also mention that we have seen a lot of comments from regular users of ProphetX that your activity will be ‘limited’ if you regularly win. This seems to particularly affect those who place regular pre-game arbs. One tip to get around this is to not bet over $200 on any single day, and move on. This keeps your profile low and solid with the sportsbooks.
