Quality Assurance Engineer
ProphetX
Quality Assurance Engineer
ProphetX
Peer-to-peer sports betting exchange.
ProphetX provides a peer-to-peer sports betting exchange where users bet against each other rather than against a house. The platform matches bets by allowing users to set or accept odds, and Prophet acts as an intermediary, taking no financial risk on outcomes and earning revenue by taking a commission on winning bets. This contrasts with traditional sportsbooks that set odds and pay out from their own funds. After a market-access deal with Caesars, ProphetX launched in New Jersey in 2022, became the first regulated U.S. peer-to-peer exchange, and raised capital from investors. In 2024, it pivoted to a sweepstakes model that uses virtual currency for free-to-play contests with paid entries to participate, enabling operation in more states. Overall, the company aims to provide a scalable, low-risk betting experience with fair prices by letting users trade bets, then expand nationwide through the sweepstakes approach.
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