Sporttrade Launches Innovative Stock Market-Style Betting in Arizona

Philadelphia-based sportsbook Sporttrade has recently entered the Arizona market with its innovative approach to sports betting. Launched via a smartphone app in September, Sporttrade seeks to streamline wagering by utilizing a probability-based system that diverges from the traditional moneyline odds model.

Alex Kane, CEO of Sporttrade, explained his motivation for creating the platform. “I never understood the odds,” he said. His goal was to establish a user-friendly experience akin to stock trading, where bettors can easily see the win probability of teams. Instead of confusing figures like -200 or +110, the app presents odds in a more digestible format, such as 60% or 75% chance of winning.

The new betting model has gained traction, expanding into five states since its launch, including Virginia just this October. Kane elaborated, “If you’re out there, and you don’t really know what +400 means or -220, you don’t have to learn any of that with Sporttrade.” A bet placed at 20% odds can quickly double in value based on changing probabilities during a game.

Additionally, Sporttrade offers a distinct cash-out feature. Unlike standard sportsbooks that simply provide a payout amount, this platform indicates the live win probability upon cashing out. “At Sporttrade, if you bought in at 20% odds, if the value of a $100 bet goes up to $140, we’re showing you that’s 26% odds,” Kane noted.

Market experts view Sporttrade as a potential game-changer for the sports betting industry in Arizona. Steve Bittenbender, an analyst for BetArizona.com, commented on the platform’s niche appeal. “I think Sporttrade is going to help increase the overall handle,” he stated, suggesting it won’t directly cannibalize existing sportsbooks but will provide a unique option for bettors.

Bettors who prefer cashing in on competitive odds have praised Sporttrade. A bettor known for his expertise in arbitrage betting expressed his reasons for choosing Sporttrade. “They don’t limit people because their model has market makers that tell you how much you’ll be able to get down ahead of time, and they offer some of the most competitive lines in the market,” he said.

As Sporttrade continues to evolve, its founders are focusing on customer feedback and product improvement. While the app has established a solid presence in Arizona along with states like Colorado and New Jersey, Kane emphasized that enhancing the user experience is the priority before expanding further. “At least for the rest of the year, even into the first half of 2025, it’s going to be about improving the product,” he stated.

Innovations are already on the horizon, including plans for a web application and a same-game parlay feature that will allow bettors to track probabilities dynamically throughout a game. “We have a pretty clear path in front of us in terms of how to improve that product,” Kane concluded.