The concept of a sports betting exchange is not new. Exchange betting has been in existence in the UK for many years. However, it has never been done in the U.S. and Sporttrade is looking to create a new model that operates the same way as any stock trading app.

Capt. Jack Andrews thinks exchange betting can indeed work in America. He also believes it would behoove the existing sportsbooks to root for Sporttrade to succeed.

“Sportsbooks should be encouraging betting exchanges into their market, not setting up barriers to entry,” Andrews said. “A liquid and bustling betting exchange does one thing better than any other sportsbook: price discovery. A good betting exchange will make the market more efficient, and other sportsbooks don’t have to work as hard. The consumer gets potentially reduced vigorish at the long-term expense of shrinking market inefficiency.”