Sporttrade Launches in Colorado, Lets Users Buy and Sell Bets Like Stocks

Sporttrade treats sports betting odds and lines as if they were stocks—and now, users in Colorado can tap into their unique platform.

“Today we’re privileged to introduce the Sporttrade experience in Colorado,” Alex Kane, Sporttrade’s Founder & CEO, said in a statement released Tuesday. “Our launch today proves that Sporttrade can operate in any jurisdiction with the same great features our customers have come to know us for: instant in-play betting, great prices, awesome liquidity, and the ability to always trade in and out of bets at fair value.”

Sportrade differs from traditional legal sports betting as it doesn’t put “juice” on its odds (though it does charge a commission on wins). Bets also cost $1-99 to acquire and are paid out at either $100 for wins or $0 for losses.

Colorado is now the second state that Sporttrade has obtained licensure in, joining New Jersey.

The company’s model is unique in that it makes live betting as smooth as possible. There aren’t delays or market locks for odds updates as there are at other online sportsbooks. Instead, it relies on the exchange market that connects users in real-time.

With the experience in New Jersey under its belt and the NFL season just over one week away, Sporttrade believes this is the optimal time to launch in another state.

“Having seen what Sporttrade has already achieved with its innovative and successful launch in New Jersey, we firmly believe that the brand and platform make for an ideal partnership for us in Colorado,” said Roger Brown, GM of GF Gaming (whose deal allowed Sporttreade to enter Colorado). “Providing a better odds experience for the player is what GF Gaming has always been about, and Sporttrade brings that same priority to the sports betting market in Colorado.”

According to a VIP+/CRG Global Poll, live betting is the most popular form of sports wagering after pregame straight bets, narrowly beating out parlays. That’s a major part of why Sporttrade has leaned into in-play betting so heavily, especially with the delays users experience at sportsbooks.

The lack of attention to live betting has also led to a growth in micro-betting, or wagering on small, individual outcomes, such as if a pitcher’s next heave will be a ball or a strike. The need for micro-betting has spawned companies such as Betr and led to traditional sportsbooks putting more attention into the market.

Sporttrade’s platform can handle micro-betting transactions using the same system it has for more standard in-play betting.

Colorado opened its online sports betting market in May 2020. It had several months where it produced over half a billion dollars in total betting handle. For the month of June, it generated $310.7 million in bets, leading to over $9 million in gross gaming revenue (GGR) and $442,000 in taxes for the state.

All of those numbers will inevitably skyrocket during the upcoming NFL season, which is the busiest time of the year for sports betting companies. For comparison, sports betting last September produced a betting handle of over $450 million and GGR of $51.3 million, which represented 10.26% and 126.58% year-to-year increases, respectively.

One limitation of Sporttrade’s platform is that users cannot buy and sell their assets (bets) across state lines. That’s because of the Wire Act, which says that all gambling transactions must be conducted within the same state they originated.

That’s part of why sportsbooks have different platforms in every state, for example, FanDuel Colorado, FanDuel Virginia, FanDuel New York, and many more.

The bottom line here is that there must be quick and consistent interest in Sporttrade, or else the supply and demand chain will be thrown out of whack and the platform will fold from the inside.

Kane, however, is confident the platform will succeed.

"As our industry continues to shift focus towards differentiation and product, I'm proud to say that Sporttrade delivers the best in-play experience the world has ever seen."