Coming Soon
In late July, social media announcements were made via ProphetX accounts that the product was close to launch. Details were provided on which states will have access to the new sweepstakes services. The only restricted areas include:
- Alabama
- Idaho
- Louisiana
- Kentucky
- Michigan
- Montana
- Nevada
- Tennessee
- Washington
We are very close to the initial launch of ProphetX!
For those who have been wondering, we will be available in 40+ states 🥳
All states that are in GREEN we will be available in! pic.twitter.com/njHBPYbsjT
— ProphetX (@PlayProphetX) July 29, 2024
Jake Benzaquen, the ProphetX co-founder and COO, spoke with Covers.com and stated that as the brand pivoted from regulated gaming to sweepstakes, with a goal to create a brand that represented the new venture. ProphetX is edgy, trustworthy, and reflective of the company’s previous product, according to the COO.
The new platform is reportedly in beta and will launch via app on iOS and Android devices in mid-August. The new brand is also set to offer sweepstakes services for desktop devices via web browser.
Moving Away from the Traditional Market
In the past, Prophet Exchange operated in a regulated format, with bettors able to wager against each other instead of against the house. Such services, known as exchanges, are popular in Europe but have not received the same welcome in the US.
Prophet Exchange could only operate in New Jersey, which led to a smaller market share and no room for growth. The brand shut down in the Garden State earlier this year and decided to launch something new with ProphetX, a free-play sports betting format.
Players receive virtual currency upon signup and use the currency to enter sports contests to earn real prizes. Members can purchase more virtual currency to have additional coins for sports picks. According to Benzaquen, the company has built a free-to-play product that will cater to new bettors, including those who have never placed a wager before.
A Bet on Sweepstakes
It will be interesting to see if ProphetX is a hit among sweepstakes players. The industry is booming right now, with players leaning towards casino gaming like slots and live dealers. However, sports pick operators like Fliff and Thrillzz are gaining ground, especially in states where sports betting is not legalized.
ProphetX is expected to be well-received among iGamers, and we are interested to see exactly what the platform offers in terms of sports markets, pick types, and incentives.
