Newly formed ProphetX is no longer a sportsbook, like its predecessor, instead it's pivoting (slightly) to a sweepstakes.
With a handful of sportsbooks closing up shop in the U.S., one is taking advantage of two key areas to boost its presence: the upcoming NFL season and the sweepstakes market.
Prophet Exchange pulled off its switch in the summer when betting handle hits yearly lows. And now it's launched just in time for Week 1 of the NFL season, when bettors wake up from hibernation and start throwing cash around. Other operators this year pushed through the past few months only to close before football returned. Newly formed ProphetX is no longer a sportsbook, like its predecessor, instead it's pivoting to a sweepstakes.
“Pivoting from the regulated gaming space to a sweepstakes model, we wanted to move forward with a brand that represented our new venture,” ProphetX co-founder and COO Jake Benzaquen told Covers in July.
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