Tradesports returning to the U.S. in 2020 is one of the most exciting bits of news for the industry to date. Tradesports provides US bettors with a sports exchange product that is pretty much unique to the brand right now. Read on to learn more about Tradesports' return to the U.S.
Tradesports is back!
There is a good chance that many of you might not have heard of Tradesports yet, but they have previously been an established brand. They first opened their doors back in 2003 and were initially based out of Ireland.
Tradesports have been trying to crack the exchange betting market in the US ever since. They closed in 2008, reopened in 2014, and then closed again in 2015.
As a result, they’ve never quite been able to mimic the success of other intra-trade based sites that are based all over the world. The likes of Betfair would be an obvious comparison, but they are largely based in Europe, who seem to have taken to exchange betting much more positively.
How does it work?
On returning to the US, Tradesports are running a soft launch from December through to the main launch in 2020.
This soft launch is in the form of a play money beta that allows players to come in, test the software, provide feedback, and win prizes. The platform will be similar to the real thing, and it’s free to use!
You need to be aware that a sports exchange works differently from a traditional sportsbook. You are betting against other players, not against the sportsbook.
This allows you to both back and lay a bet. You can also trade bets early, which means you can react to how that game is playing out.
The Beta will give each player $1000 and will run contests each week to see which players can make the most money. For this, each bet will be a $10 Yes/No question.
For example, this could be something like ‘Will the New England Patriots win the Super Bowl? Yes or No?'.
Each price is worth between $0 and $100, and odds will fluctuate between that market being settled. You can trade out at any time to lock in a profit or limit a loss.
While this is just a beta version until the official launch in 2020, this main process of the exchange will work in the same way. The difference is you are playing with real money and wins will not be limited to $100 per bet.
At the end of each week, there are prizes to be won based on the profit that the account creates. Prizes are paid in cash at the end of each week and start fresh for each week following.
A common question that often gets asked of these programs is how do they make money?
Tradesports take a commission of the bets. You are betting against other players, but Tradesports will take around 3-4% of any winning bets as part of their commission. This number is lower than the average 8% margin set by most sportsbooks such as BetMGM Unibet and bet365, offering great value to the players.
Super Bowl 2020
Tradesports' return to the US is going to cover Super Bowl 2020 as well! Given that this is one of the biggest sporting events in the world, it does make sense.
The number of markets and props that will be accessible for the event will be increased throughout the site. It’s also worth noting that the Beta will have a Super Bowl finale contest, which will include all weekly winners up to that point.
Participants who have been particularly active throughout the beta program will be invited to this as well.