Sporttrade Launches in Colorado as Betting Exchange

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00:00 [MUSIC PLAYING]

00:03 OK, so one of the more fascinating,

00:06 I think, companies that has appeared in the sports betting

00:08 universe are these companies that basically

00:12 will allow you to buy and sell bets that have already

00:15 been made.

00:16 There may be people, Sam, that are not familiar with that.

00:19 Essentially, that means you place a bet.

00:21 If you like the way that it's going

00:22 and it appears that you got better odds than what

00:24 the odds are now, you could put it on a website.

00:26 Somebody may buy it.

00:28 And now Sportrade is launching in Colorado.

00:31 And I know that that's kind of the focus

00:33 and somewhat familiar with that as well.

00:35 PropSwap was another company, if I'm not mistaken,

00:37 Sam, that does the same thing.

00:39 Talk to me about how this is going to work,

00:41 because we've seen some restrictions being placed

00:44 on companies that just aren't traditional sports betting

00:46 websites.

00:48 Yeah, it's always cool to talk about innovation.

00:50 And I think that really just sort of tells us

00:53 where we're at in the industry right now, that we're talking

00:55 about apps like this, which are a little different

00:58 than traditional sports books.

00:59 But as you alluded to, Sportrade is this sort

01:02 of sports betting stock market.

01:05 It brands itself as--

01:06 which is live in New Jersey.

01:08 Essentially, they allow customers

01:11 to kind of say what they're willing to pay.

01:12 And if someone can beat that, then they

01:15 come in and take that bid.

01:16 But basically, in Colorado, they are not

01:20 able to yet launch that exchange because of some rules.

01:24 The commission wants to become more comfortable with.

01:26 So they're just going to be kind of launching as a flat-out

01:29 sports book to start.

01:30 Now, a lot of their activity in New Jersey

01:32 does just kind of come as a house set line,

01:34 because there's no one there to offer that other price.

01:37 But their whole vision is kind of we want to allow consumers

01:39 to be competitive and beat each other in the market,

01:42 if possible.

01:44 So it's cool to see this catching on in other states.

01:46 But this is going to be one of those small regulatory hurdles

01:49 that we discuss on this show before people can really

01:53 get what they're clamoring for and kind of how

01:55 the sausage gets made before we see the finished product.

01:58 But it'll be cool to have a sports trade in Colorado

02:00 once it's officially through the finish line.

02:04 (upbeat music)

02:06 [BLANK_AUDIO]

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