Trade on Sports in USA: Recommended Apps & Sites
What is sports trading?
There are numerous expert tips and strategies on how you trade sports. Watch this useful video below explaining basic sports trading strategies and rules.
How does sports trading work?
As with a stock or bond, sports traders are able to buy (called a back) or sell (referred to as a lay) the outcome of the event upon which they are making their trades. These trades take place in real time throughout the course of the event, as the sports trader seeks to either set themselves up for a higher profit margin, if the team they invested in is winning, or looks to cut and run to avoid taking a financial bath on the outcome, if the team they backed is losing.
The betting exchanges generate revenue by charging a percentage out of winning bets as their commission for facilitating the exchange.
How do you trade sports? Again much like stockbrokers, sports trading is an extremely intense, high-stress pursuit. Trades take place constantly throughout the course of an event, so even the slightest hesitation at precisely the wrong moment can prove to be the difference between taking home a tidy stipend, or tasting the pain of a bitter loss.
USA Best Sports Trading Sites & Services
- Betfair Exchange
- Molly Bet
- Sport Trade
- Ballstreet Trading
- TradeMate Sports
- ZenSports exchange (expected in the USA)
Read about advanced algorithms used on some USA sports trading sites.
Birth Of The Betting Exchange
The original sports trading betting exchanges were Flutter.com and Betfair. In 2001, the two merged and Betfair, which currently operates legal sportsbooks in New Jersey and New York, stood as the sole proprietor of sports trading.
Betfair helped to change the way sports betting worked by offering betting exchanges. In Betfair’s betting exchanges, rather than betting with a bookmaker, you were instead wagering in competition against another bettor.
Betfair was also the first sportsbook to allow bettors to place a wager on a team, player or horse to lose. This was the creation of the lay bet.
The way the original betting exchanges worked, it required two players of opposing minds to play against each other. For example, if one player was wagering 10-1 on a team to win, the opponent needed to make the exchange go was a bettor willing to lay 1-10 on that same team losing.
One of the best aspects of wagering this way is that a betting exchange enables the bettor to get the bet they want at the odds they desire. The bookmaker doesn’t set the odds or the line – the bettor does.
This type of sports trading has altered the landscape of sports betting. The advent of live or in-play wagering is a direct offshoot of the constant fluctuation and movements that are part and parcel of the sports trading environment.
Watching this new style of sports betting evolve, bookmakers saw there was still money to be made after an event got underway and that closing down betting once play commenced was against their best interests.
Development Of Sports Trading
Sports trading was the next logical evolution from betting exchanges. If a bet on one event could have two competing sides, then why not take it further and enable bettors to trade back and forth with a series of sports markets in competition with each other?
This type of venture operates in similar fashion to fantasy sports, because you will be competing against several other players, as opposed to a one-on-one betting exchange, or a wager with a sportsbook.
Quick reactions are essential in successful sports trading. The skill to predict the next outcome in a game is a vital component. Suppose your wagering on a hockey team and their leading scorer just left the game with an ankle injury. Or maybe it’s a soccer game and the side your backing just had a player sent off.
If you don’t act fast and unload your shares in those teams, disaster could quickly beckon.
Several sports trading sites have since popped up. Let’s take a look at some of them and how they operate.
An app that enables you to operate as a day trader, albeit utilizing live sporting events and the entities you will be trading. All of this is done in real time as the games play out before your eyes at Ballstreet Trading.
You buy and sell shares of teams as they are playing in games. For example, if you think one game looks to be lopsided, you might want to purchase 70 or 80 shares of the team you think is the winner. On the other hand, if a game looks like a toss up, you can play it safe and split your shares 50-50 between the teams.
As games progress, the shares will increase or decrease in value depending upon how the contest is unfolding. A successful team will see its share price increase, while a team having a bad night will plummet in worth.
By the end of the game, all the winning team’s shares are worth 100, while the losing team shares are worth zero.
Unlike sports betting, the objective isn’t to win each game but to post the highest overall trading score.
The outcome of the game doesn’t decide who is the winner, the market does.
Designed by Smarkets, the SBK app was released into the market last month.
Combining the better pricing of a sports betting exchange with the sleek interface of a sportsbook, the SBK app is designed to deliver the best of both worlds to the bettor.
The SBK app can be downloaded directly to an android device, or acquired with the Apple Store or Google Play Store.
Smarkets, operator of one of the world’s largest betting exchanges, have processed nearly $18 million in sports trades since their online site was launched in 2010. Smarkets treat betting like a commodity, offering simplified trading on sports and political events. You set your own odds and trade against other competitors. New customers are eligible for a $10 bonus offer.
The current prices are on upcoming and live events are posted on the Smarkets site. As the prices fluctuate on a live event, you’ll also be able to see exactly how much has been traded on that event. The Smarkets site is capable of processing thousands of trades per second.
Smarkets recently signed deals to create traditional sportsbook operations in both Colorado and Indiana. Smarkets is entering into partnership with Full House Resorts via Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado, and Rising Star Casino Resort in Rising Sun, Indiana.
We expect sports tarding to be legal and available in the several states such as New York, California, Pennsylvania, Mississippi, Massachusetts, Colorado, Ohio, Texas and many more.