Download the Sporttrade iPhone App here.
Disclosure: DarkHorse Odds has an affiliate relationship with Sporttrade.
This guide expands on the concepts introduced in our Betting Exchanges Overview, as they apply to Sporttrade. Read the overview first.
Sporttrade has a few noteworthy differences when compared to a traditional Betting Exchange. The most notable difference is that instead of displaying traditional American odds, they display contract prices. More on that below. The commission on Sporttrade is 2% of the net winnings. For example, if you win a $150 bet at -150, the net winnings is $100. The commission you would be charged is 2% of $100, or $2.
Sporttrade is currently only in New Jersey and iPhone only. They have plans to expand to more states and platforms.
Note: Sporttrade is only open from 9:00 AM ET until 12:00 AM ET.
Sporttrade on DarkHorse Odds
Sporttrade only displays odds in Contract Prices. On DarkHorse Odds we display both the Contract Price and the odds format you have selected in your user settings (American, Decimal, etc.). This allows you to quickly understand the contract pricing in the format you are familiar with, while also helping ensure that you place the correct bet on Sporttrade.
In the example below -481 American odds and $82.5 for the contract price.
DarkHorse Odds calculates the commission when determining the bet amounts. This can be seen in the Outcome Explanation.
In Browse Odds, all sportsbooks are set to the odds format you have selected in your user settings.
Clicking on the listed odds for Sporttrade displays the contract price and your default odds format both with and without commission. The excluded commission price is the one that will match what Sporttrade displays.
If you want to see all odds displayed in contract prices you can select this in Settings -> Miscellaneous.
Sporttrade is set up to feel like buying/selling stocks. There are a few important terms and concepts to understand before using Sporttrade.
Buy: Placing a bet on an event to happen, such as the home team to win the game. This is the same as placing a normal bet on a sportsbook.
Sell: Placing a bet on an event not to happen. In a two-way market, this is the same as betting on the opposite team. To enable being able to sell a contract you must go to Account -> Trading Experience -> Advanced
Contract: All winning contracts settle for $100 and losing contracts settle for $0. You can buy fractions of a contract.
Contract Price: How much it costs to buy 1 contract. You can buy fractions of a contract.
Market Order: Buying a contract (placing a bet) at the current best available price. Based on the number of contracts you purchase the price may move up to $2.00.
Limit Order: Requesting a new contract price. This may not be matched.
Time in Force: How long a limit order is valid for.
Immediate or Cancel: Cancel the order if it is not filled immediately.
Good till Game Starts: Order is good to fill any time before the game starts.
Good till Cancel: Order is good to fill at any time until the game ends. You can cancel at any time.
The Sporttrade app has helpful FAQs that are worth reading.
American Odds can be enabled in Account -> Trading Experience -> Display American Odds. The contract price is still listed, but turning on American Odds adds it below the listed market.
The contract odds displayed are before the commission. This is different than the American odds displayed which are after commission.
When betting on Sporttrade several pieces of key information are displayed.
- Money line offering for the Bucks. Contract price to buy is $82.5.
- A spread offering for the Bucks -4.5. Contract price to buy is $73.0.
- The over offering for 216.5. Contract price to buy is $90.5.
Placing a Bet At Available Odds
- Select Market Buy to place a bet at currently available odds.
- The buy price for 1 contract for the Bucks to win (money line). In this case, $82.5 and 64.5 contracts are available at that price.
- Your bet amount in dollars. Number of contracts is displayed below.
- Order cost in dollars and profit, after commission, if the bet wins.
Same image as above but with the bet amount listed in number of contracts instead of dollars. Notice the price in dollars is still listed under the number of contracts. In this case 1.2121 contracts for $100.
Requesting Better Odds
You can request better odds by clicking on the line that you want and then selecting “Limit Buy” at the top.
- Select Limit Buy to request new odds.
- Select your desired contract price.
- Select the desired number of contracts.
- Select the Time in Force.
- Place order.
Canceling a Bet
Clicking on “Markets” in the bottom menu allows you to view open orders, and cancel unfilled orders if desired.
When viewing your open orders you can choose to cancel them.