VIP/Rewards Grade: 1/5 Summary: As an exchange ProphetX does not have a large VIP/Rewards program.
Updated: Sep 30, 2024
4 min read
Note: If you are located in Ontario, we are not able to display any available promotions.
Matched Betting
What is the "Matched Betting Value" listed above? This is the amount of profit that you can make from the sign-up offer through a technique called matched betting. In short, it is a mathematical approach to sports betting that guarantees profit by hedging your bets. This allows you to cover all possible outcomes and secure a profit no matter what happens in the game. This is different from gambling because there is no risk of losing. Learn more in our What Is Matched Betting guide.
What To Know
ProphetX is regulated by your local gaming commission. Regulated sportsbooks provide customer protections that you will not have when using an unregulated sportsbooks or sweepstakes sportsbooks.
ProphetX is unregulated. Unregulated sportsbooks do not provide the same customer proctections that regulated sportsbooks have.
ProphetX follows a sweepstakes model. Sweepstakes platforms are regulated by the Federal Trade Commission and state sweepstakes laws instead of your jurisdiction's gaming commisison. These protections are less than those provided by a regulated sportsbook, and are designed for traditional sweepstakes, not a sportsbook.
ProphetX is a sportsbook. Sportsbooks, unlike exchanges, act as "The House" and often have more vig than a betting exchange.
ProphetX is an exchange. Exchanges often offer better odds than a traditional sportsbook, do not limit players, and are matched betting friendly.
In some states ProphetX operates as a betting exchange, and others they operate as a sportsbook. In both situations ProphetX will not limit bettors.
ProphetX is "Player Friendly". Player friendly sportsbooks/exchanges do not enact limits on players making them perfect for matched betting.
ProphetX is "Slower-to-Limit". Slower-to-Limit sportsbooks take longer than average to enact limits on winning bettors.
ProphetX is "Quick-to-Limit". Quick-to-Limit sportsbooks enact limits signifcantly faster than your average sportsbook. If you show signs of being a winning bettor, limits will quickly follow.
ProphetX has high limits. Sportsbooks with higher limits are useful for generating VIP status and hedging large promotions.
ProphetX has low limits. Sportsbooks with lower limits are can make hedging larger promootions, such as those assocaited with VIP status, difficult.
ProphetX seems to be more likely than other sportsbooks to limit bettors after a withdraw. Avoid withdraws from ProphetX as much as possible.
Note: Taxes for a sweepstakes sportsbook might be different than a regulated sportsbook. You could receive a 1099 if total redemptions (withdrawals) exceed $600 a year.
ProphetX is an Exchange that follows a Sweepstakes model. This means that ProphetX is available in 39 states, making them the most widely available exchange in the United States. Before using ProphetX it is important to understand that you do not have the protections provided by the gaming commission in your jurisdiction. Sweepstakes exchanges are regulated by the Federal Trade Commission which is entirely separate from a gaming commission.
When using ProphetX there are two separate virtual currencies, Prophet Points and Prophet Cash. Prophet Points have no value and are used for entertainment purposes only. Prophet Cash can be redeemed for cash.
Prophet Cash can be received in three different ways.
Prophet Cash is received as a free bonus when buying Prophet Points.
Prophet Cash can be earned from as part of no-cost giveaway contests as part of marketing campaigns.
Prophet Cash can be earned via mail-in entry.
Here is a typical example of what using ProphetX looks like.
Purchase Prophet Points with cash.
Receive Prophet Cash for "free" as a gift for purchasing Prophet Points.
Use the Prophet Cash to pick sports outcomes.
Redeem Prophet Cash for real cash.
Notes Before Signing Up
Note: Taxes for a sweepstakes sportsbook might be different than a regulated sportsbook. You could receive a 1099 if total redemptions (withdrawals) exceed $600 a year.
There are two important things to understand before using ProphetX.
Available in: Alabama, Arizona, Arkansas, California, Connecticut, DC, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Utah, Vermont, Virginia, West Virginia, Wisconsin, Wyoming
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MLB House Rules
Each sportsbook has its own House Rules which determine how a bet is graded. These rules cover unlikely events, such as what happens to your bet when a game is canceled.
Usually, the different house rules across sportsbooks do not have an impact on matched betting. However, in Major League Baseball (MLB), there are notable exceptions. A simple example is when a game is postponed due to weather. Read our House Rules Comparison guide to learn more.
For MLB it is also important to understand what defines Action.
A Sweepstakes Exchange widely available across the United States.
Updated: Sep 30, 2024
4 min read
Note: If you are located in Ontario, we are not able to display any available promotions.
Matched Betting
What is the "Matched Betting Value" listed above? This is the amount of profit that you can make from the sign-up offer through a technique called matched betting. In short, it is a mathematical approach to sports betting that guarantees profit by hedging your bets. This allows you to cover all possible outcomes and secure a profit no matter what happens in the game. This is different from gambling because there is no risk of losing. Learn more in our What Is Matched Betting guide.
Note: Taxes for a sweepstakes sportsbook might be different than a regulated sportsbook. You could receive a 1099 if total redemptions (withdrawals) exceed $600 a year.
ProphetX is an Exchange that follows a Sweepstakes model. This means that ProphetX is available in 39 states, making them the most widely available exchange in the United States. Before using ProphetX it is important to understand that you do not have the protections provided by the gaming commission in your jurisdiction. Sweepstakes exchanges are regulated by the Federal Trade Commission which is entirely separate from a gaming commission.
When using ProphetX there are two separate virtual currencies, Prophet Points and Prophet Cash. Prophet Points have no value and are used for entertainment purposes only. Prophet Cash can be redeemed for cash.
Prophet Cash can be received in three different ways.
Prophet Cash is received as a free bonus when buying Prophet Points.
Prophet Cash can be earned from as part of no-cost giveaway contests as part of marketing campaigns.
Prophet Cash can be earned via mail-in entry.
Here is a typical example of what using ProphetX looks like.
Purchase Prophet Points with cash.
Receive Prophet Cash for "free" as a gift for purchasing Prophet Points.
Use the Prophet Cash to pick sports outcomes.
Redeem Prophet Cash for real cash.
Notes Before Signing Up
Note: Taxes for a sweepstakes sportsbook might be different than a regulated sportsbook. You could receive a 1099 if total redemptions (withdrawals) exceed $600 a year.
There are two important things to understand before using ProphetX.
Each sportsbook has its own House Rules which determine how a bet is graded. These rules cover unlikely events, such as what happens to your bet when a game is canceled.
Usually, the different house rules across sportsbooks do not have an impact on matched betting. However, in Major League Baseball (MLB), there are notable exceptions. A simple example is when a game is postponed due to weather. Read our House Rules Comparison guide to learn more.
For MLB it is also important to understand what defines Action.
