- A new way to bet on sports has come from BettorEdge, a stock market for sports bettors looking to buy and sell their wagers.
- The platform has launched in 40 US states and features a no-juice sports betting platform that sets the value of bets in a fair market-style system.
MINNEAPOLIS, Minn. – Over the years, many have compared the stock market to the world of sports betting.
Both activities allow users to win money, and some would argue both are equally as hard to predict. The stock market has its crazy ups and downs, as do sports, with live betting odds and futures constantly changing in value.
But what if there was a way to trade sports bets like the stock market?
Three University of Minnesota students had the same idea, and created a new web app known as BettorEdge.
BettorEdge is an online marketplace that allows users to buy and sell their sports bets in a stock exchange-style system with no vig or juice taken by the platform.
The students wanted to create a modern sports betting system similar to modern stock investing platforms like Robinhood where bettors could trade their bets as they increase or decrease in value.
Say a college football bettor had Notre Dame to win the National Championship at the beginning of the season. That bet has immensely increased in value due to the Irish’s performance this year. On BettorEdge, the user would be able to sell that pick for a profit, like a share or stock option on the market.
The company was formed in 2019 but just went live in October 2020 after receiving a round of angel funding.
BettorEdge is able to be a legal betting site because it does not collect a portion of each bet. BettorEdge does not set lines or spreads and is therefore not considered a sportsbook.
Users can access the platform via their website, where they can also build a following or follow their favorite sports bettors to see how they are doing. The app also provides analytics tools to help bettors make more informed decisions.
While the idea seems foreign now, the action has been already happened for years in the sense of bettors being able to cash out or selling their picks online. A platform like BettorEdge could easily change the landscape of sports betting if it is able to take off.
BettorEdge is currently available in 40 states.
Jimmy began his journalistic journey as a stat recorder and PA announcer for his middle school baseball team. Full of experience across print, broadcast, and sports radio, he brings his knowledge and toolkit to the LegalSportsBetting team. You can find him watching sports, making parlays, and listening to music on any day ending in Y.