It would be fair to say that Sporttrade, in its current incarnation, isn't exactly what founder Alex Kane envisioned. But it would also be fair to say that he's still growing his business and having a good time doing it.
“I am still excited because I do still have this long-term vision of wanting to create something different,” Kane told iGB. “I love listening to players and learning from them.”
When Sporttrade made its debut in New Jersey in 2022, it became the first company in the US to offer a different experience known as exchange wagering. Bettors can buy and sell bets throughout a game for an experience that more resembles stock trading than traditional sports betting.
The Sporttrade odds format was “implied probability” where, instead of seeing “+300”, players would see “25%”. With implied probability players can, for example, “buy at 25%”, then have the ability to “sell at 60%” if the bet started to look more likely.
Sporttrade went on to add a “limit order”. This..
