Prophet exceeds expectations with launch
Early exchange rates up to 50% better than big operator brands
Prophet, the innovative cashout alternative marketplace, has experienced a stellar start to operations.
The unique concept, which allows bettors to benefit from favourable cashout rates that are not set by bookmakers via a secondary marketplace for sports bets, has seen significant turnover on the platform, with one punter cashing out for over £6,000 on a £1,000 bet on an Aston Villa win in their eventual 2-1 defeat to Liverpool.
The site has also seen significant value in cashout opportunities when the underdog is actually losing. While the proprietary algorithm designed by Prophet intends to offer bettor cashout rates, when the underdog takes the lead the platform has experienced a 20% increase in cashout value compared to the wider bookmaker market.
Further, when the underdog is losing 1-0, the cashout rates are up to 50% better than high street bookmakers.
Dean Sisun, CEO and Co-founder of Prophet, said: “While we were confident our product could fill a niche in the markets, the results have been highly impressive.
“Our cashout rates promise value, but to exceed big name sportsbooks by up to 50% shows that we have a product which can make a real difference to the average punter.
“Our end goal is to create a community of bettors who look to help each other make more money with their current sports bets, rather than to continue to give more to their bookmakers and so far this is off to a great start.”
While the marketplace is already live in the UK, Prophet intends to expand into other European markets, Australia, and the United States.
Prophet is most notably backed by leAD sports, the premier sports venture ecosystem inspired by Adi Dassler, the founder of Adidas, in which they were one of seven companies selected to their prestigious accelerator, and M Ventures, a prominent United States venture capital firm.