Shuttered UK betting exchange Prophet turns to US with Caesars partnership

Sports betting exchange Prophet has announced a multi-year market access deal with Caesars Entertainment to launch its peer-to-peer exchange platform in the United States following the loss of its British license.

The exchange will first launch in New Jersey in time for the start of the NFL and college football seasons, with a rollout in Indiana and other states slated for 2022 and beyond.

New Jersey-based Prophet previously operated from London under a license from Britain's Gambling Commission before moving the team to New Jersey to focus on opportunities in the emerging US markets.

This followed the suspension of Prophet's operating license in 2020 for failing to implement responsible gambling controls as per British regulations, with parent company Dynamic Bets forced to close in January of this year under a compulsory strike-off notice from the registrar of companies in England and Wales.

"We are delighted to announce our agreement with Caesars which will see Prophet launch for the 2021 football season," said Prophet CEO Dean Sisun. "Prophet is going to be the sports betting exchange of choice because of its simplicity and focus on sports betting principles. We are for the customers who want the best experience and prices on the market."