SportTrade Betting Exchange Review

One of the most unique betting sites in the US, the Sporttrade betting exchange offers a novel approach to sports betting that draws inspiration from stock exchanges.

Instead of the conventional sportsbook experience where you place a bet against the house, SportTrade revolutionizes this concept by enabling users to take on the role of both buyer and seller in the betting market, trading sporting events outcomes the same way you would trade stocks.

Sporttrade's design ensures it's approachable for seasoned bettors and transparent for newcomers, with an interface that replaces traditional odds markets with options to buy and sell bets, resembling financial contracts.

Offering the freedom to set your own lines as you trade with other bettors in real time, Sporttrade's innovative betting exchange offers much lower fees than any conventional sportsbook, and their marketplace gives you access to much better odds than you will find elsewhere.

The advantages of betting through SportTrade are manifold, particularly when compared to traditional sports betting against the house:

While here at MyBettingSites we really like Sporttrade's product, we recognise that is has its limitations - and is definitely not for everyone. If any of the factors below are important to you, you will probably want to look for other options for your betting needs.

It's not just Sporttrade's betting model that differs from that of regular sportsbooks. While most of the major betting sites tend to offer very similar promotions, Sporttrade has opted for a completely different approach, offering one of the least common (and most coveted) types of sign up bonuses around: A Cashback Bonus.

After much anticipation, Sporttrade has finally gone live in Iowa at the April!

To celebrate the occasion, they are offering an additional promo to their $300 Cash back sign up exclusively for Iowa bettors: the Sporttrade Dreams Promotion.

One of the best cashback promos we've seen in a long time, the Dreams Promo offers a 10% cash back on the first bet up to $1,699 for new users from Iowa who sign up within the promotional period, which runs from April 29, 2024, through June 30, 2024.

To participate you must place your bet on any available market during this period to qualify for the cash back, which will then be credited to your account within 72 hours of the bet settling.

Sporttrade currently holds a license to operate in only three states:

• Iowa
• Colorado
• New Jersey

While for now, SportTrade in these three states, they are currently pending license approval in several states.

As a smaller operation, it would be unfair to expect Sporttrade to emulate the sheer amount of payment options offered by the largest betting sites in the US.

That being said, however, we believe that Sporttrade's payment methods - though certainly limited in variety - offer a very decent flexibility that should cater to the needs of most bettors out there.

By offering versatile options such as PayPal, Venmo, and Online Banking, Sporttrade makes it easy for most types of players to find an agreeable way to fund and withdraw from their accounts, whether they prefer direct transactions or the added safety/anonymity of 3rd party eWallets.

While they may not have as many deposit methods as some of the nation's leading betting sites, Sporttrade has made sure that funding your betting account is a convenient and easy process, offering some of the most popular and timely funding methods around.

Sporttrade deposits are free of charge and the funds will hit your betting account immediately once approved.

While we would like to see them add direct credit/debit card deposits in the future, most players should be able to use their card via Online Banking or a 3rd party eWallet such as PayPal or Venmo.

When it’s time to cash out, you can request a withdrawal through their Sporttrade app, and they will process your request within 1-5 business days.

Important! Depending on your withdrawal amount, Sporttrade may require you to verify your identity and age before they can process your payment.

For a smaller, up-and-coming platform, we were very pleasantly surprised with Sporttrade's level of customer support.

Not only do they offer support via Email, and X (formerly Twitter), but they also have 'Live Chat' and 'Request a Callback' options, which allow you to get interactive and personalized support for any situations that require it.

While we were happy with the response times and overall knowledge of their support staff, what really surprised us was just how comprehensive their Help Center was. Offering one of the most well-rounded, detailed, and easy to understand FAQs out there, Sporttrade goes through great lengths to make sure you understand everything you need in order to use their platform.

Considering the concept of a betting exchange is still relatively new in the US, we found their Help Center to be a hugely valuable asset that helped make our Sporttrade experience simple and painless to navigate.