Prophet Exchange Ohio Sportsbook – $250 Welcome Bonus

//logo version 1.0.0 - Sept 2022 Prophet Exchange ProphetExchange_logo_alt
Deposit MatchDeposit MatchUp to $250Up to $250
Sign-up CodeNone needed

Disclaimer: Prophet Exchange is not currently available in Ohio. This review is speculative based on what is known about Prophet Exchange. This page will be updated when Prophet Exchange launches in Ohio. 

Players looking for something a little different in sports betting need to look no further than Prophet Exchange. And Ohio is likely to be playing host to this new, unique platform. Here, bettors can post their own odds and field wagers from other sportsbook players.

The premise might sound strange to some, but it is entirely legitimate and backed by the worldwide conglomerate of Caesars Entertainment. Being associated with this household name lends a great deal of legitimacy to the Prophet betting exchange. It should put players’ minds at ease when gambling on the platform.

Prophet Sports Betting Exchange is offering a sign-up bonus to new users in the form of a 25% deposit match up to $250 maximum. Let’s delve into what Prophet Exchange offers—the good and the bad. We will also discuss the aforementioned welcome bonus and how players in Ohio can take advantage of this special bonus.

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Prophet Exchange quick hitters:
  • User experience: The graphics could use a little updating, but the process of creating and placing bets is seamless.
  • Odds: The odds are almost always better than what you might find on other traditional sportsbooks since they are created by other players.
  • Promos: There is a sign-up offer for new players, but we have not seen any other promos running on the platform.
  • Best feature: You can find some excellent odds at Prophet Exchange, which is by far the most compelling reason to use the service.
Prophet Exchange Sportsbook Rating
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Prophet Exchange promo code for Ohio 2023

You will receive 25% of your first deposit back in site credit when you register for a new account at Prophet Exchange Ohio sportsbook. The maximum amount you can receive is $250. (This assumes a $1,000 deposit, but the minimum deposit amount is just $10.) No Prophet Exchange referral code is required to claim this bonus.

Ohio SportsbookProphet Exchange Sportsbook Ohio
Prophet Exchange Promo CodeNone needed
Welcome Bonus25% bonus on top of your initial deposit
Bonus Terms & Conditions• Bet must be made within 30 days of first deposit
• Odds must be a minimum of -300
• Bonus paid out in site credit
Best FeatureExcellent odds can be requested and often fulfilled by other players who post the bets.
Launch DateJan. 1, 2023 at the earliest
Promo Valid as ofFebruary 2023

Maximizing the Prophet Exchange welcome bonus

To get your 25% deposit bonus, sign up for a new account at Prophet Exchange and be physically located in the state of Ohio. This must be your first player account; you cannot have made one previously with Prophet Exchange. You will not need to enter a Prophet Exchange promo code to get the Ohio sportsbook welcome bonus. It will automatically be applied.

The next step is to make your first deposit. This can be of any amount you are comfortable with, although the minimum deposit amount is $10. The maximum amount to deposit to get the maximum free money is $1,000, which will garner you a $250 bonus in site credit.

The full Prophet Exchange deposit bonus will be credited to your account within 72 hours, although you cannot immediately withdraw this money. As you might expect, there is a playthrough requirement that you must complete before you can withdraw. You need to bet your full deposit amount and your entire bonus amount at least once through. After that, you can withdraw any funds and winnings in your wallet.

Find some wagers with minimum odds of -300 and start betting. For example, say you want to bet on the Cincinnati Bengals on any given Sunday. Assuming the odds you find are at least -300, any amount you wager will count toward your playthrough requirement. The more you wager, the faster you will clear this playthrough. Just remember not to bet over your head.

To maximize the free funds you can receive from your bonus, we recommend depositing the full $1,000 if you can swing it. This will earn you a free $250, which is nothing to scoff at! Combine this with a very manageable playthrough requirement, and you have the recipe for a great sports betting experience.

Prophet Exchange Ohio launch date

Once the New Year begins in January 2023, online sports betting apps in Ohio will officially become legal. When that happens, the Prophet Exchange site will be ready to open up shop to Ohio sports bettors.

Because it has already launched sports betting exchange platforms in other states (including a very successful one in New Jersey), Prophet Exchange has demonstrated expertise in launching a product quickly and ensuring a smooth rollout.

Once January 2023 arrives, online sports betting enthusiasts will have access to all of the action they can handle. A generous Prophet Exchange sign up bonus (with an easy playthrough requirement) sweetens the deal and makes it a no-brainer to give the site a try. The unique twist on setting custom odds makes it a fun experience and one that we think you will be coming back to again and again.

Getting started at Prophet Exchange Ohio

Registering your new player account is an easy process. The first thing to do is head over to the Prophet Exchange website. Look in the top right corner for a green button marked “Register.” Click that, and you will be taken to the signup page where a short form awaits. Fill out the form and provide some personal information so that Prophet Exchange can confirm your age and identity.

Once you finish up the form and create a strong account password, you will be all set. You can begin searching the site for some attractive odds, or go ahead and set up some of your own odds to see if you get a taker. Whether you are taking a bet or placing the bet, the process is fast to learn and quick to execute.

Of course, you must remember the welcome bonus that you are granted when you register. You will get 25% back on your first deposit, so consider your initial deposit amount wisely once your registration is complete.

As a final note, we need to remind readers that you need to be physically located in Ohio before you are allowed to use the platform. You can register for an account while you are out of state, but you need to be in Ohio to play. You do not actually need to be a resident of the state, just within its borders. Also, according to Ohio state gambling law, you need to be at least 21 years old to do any gambling, whether online or in person.

Prophet Exchange mobile app and rating (3/5)

Prophet Exchange is one of the most exciting new platforms to grace the online betting community. The fact that players can create their own sports odds for other players to bet on is a game-changer. All that said, don’t expect anything too eye-catching or flashy when playing at Prophet Exchange in Ohio.

The design of the website is fairly barebones, and it lacks many of the features of some of its better-funded competitors. One of the most glaring omissions is that players can make only straight bets. Parlays, teasers and round robins are off the table. For whatever reason, these more complex bets are not supported. But if you are looking for great odds on a straight bet, Prophet Exchange is the place for you.

Prophet Exchange does have a mobile app, which is compatible with both iOS and Android devices. Like its desktop counterpart, the interface is fairly simple. But one advantage of this is that it is quite clean and free of distracting ads and promos. It is easy to see what bets you are making, and what the odds are. This is definitely a nice bonus to having a simple design, although some players do appreciate a thoughtfully designed experience.

  • Ease of logging in: 4/5 – Face unlock is offered as a login option once you enter your password the first time. This is a great feature to offer.
  • Ease of placing bets: 4/5 – Betting is simple at Prophet Exchange, and the clean interface makes bets clear and easy.
  • Overall speed: 4/5 – The desktop site could load pages a bit faster, but depending on your internet speed, this should not inhibit you too much.
  • Ability to place parlays: 0/5 – Parlays are not currently supported on Prophet Exchange; straight bets only for the moment.
  • Ability to place same game parlays: 0/5 – Again, parlays are not supported on Prophet Exchange, including same game parlays.

Prophet Exchange vs. DraftKings Sportsbook

Curious about the ways Prophet Exchange compares to DraftKings Ohio, one of the other big sportsbook operators in the state? Let’s break it down:

FeatureProphet ExchangeDraftKings
Daily BoostsNoneDaily
PromotionsInfrequentCommon
Same GameNoYes
ParlaysNoYes
Standard OddsAbove averageBelow average
Top BenefitExcellent OddsFrequent Promos
What's Lacking?Attractive deisgnHard to earn welcome bonus
App Rating3.5/54/5

In the end, if you are looking for a more traditional sportsbook with all of the bells and whistles, you are better off sticking with DraftKings. But the appeal of Prophet Exchange is that you can make money by setting your own odds that players can bet on. If you are on the betting side of things, you can always find some juicy odds. If this is the most important feature for you, then we definitely recommend choosing Prophet Exchange.

Live betting at Prophet Exchange

With the restriction on parlays, you might wonder if live betting is an option at Prophet Exchange. The good news is that you absolutely can bet on events while they are in progress. You can also sponsor odds for players to bet on during games. Live betting is easy to accomplish from both sides of the betting coin.

Apart from live bets and straight bets, however, Prophet Exchange does leave players wanting more at times. Some of the most fun sportsbook wagers are off-limits, including player props, over/unders, first player to score, and, of course, the lucrative parlay option.

On the bright side, you can place both moneyline and spread bets with odds set by other players. So if you are looking for some slightly juicier odds than the moneyline offers, go ahead and place a bet on your team to cover the spread (or not) and get a larger return if your bet wins.

Banking at Prophet Exchange

How to add funds

Prophet Exchange is not a traditional sportsbook, and as such, it is not able to offer the breadth of banking options that other more established sportsbooks can. We hope that as the peer-to-peer betting platform gets more recognition and is more widely accepted, it will be able to add some additional banking methods to players looking to fund their accounts and withdraw their hard-earned winnings.

Below, we list the handful of methods that players have for funding their Prophet Exchange player wallet:

  • Wire transfer
  • ACH bank transfer via Trustly
  • Cash at the cage in Harrah’s Casino Atlantic City

Regardless of what method you choose, the minimum deposit amount is ten dollars. Deposits are processed instantly and show up in your account within seconds of the transaction being approved.

How to withdraw funds

Here are the withdrawal options you are presented with when playing at Prophet Exchange:

  • ACH bank transfer via Trustly
  • Cash at the cage in Harrah’s Casino Atlantic City
  • Check by mail

As with like depositing, the minimum withdrawal amount is $10. There are even fewer options for withdrawing than depositing, sadly, but we did find withdrawals to be fast and painless. The fastest method is to go into the casino if you happen to be in Atlantic City, New Jersey. Otherwise, you will have to settle for an ACH transfer and wait a few days to get your funds. Note that all withdrawals are subject to a 1-2 business day verification period before the money is released.

Prophet Exchange customer service

Because peer-to-peer betting exchanges are still a relatively obscure concept in sports gambling, Prophet Exchange may need to field a lot of customer questions. As such, it has set up a great network of resources for players to get help when needed. There are myriad ways to get in contact with an agent and get your problem resolved in a fast and friendly manner.

Here are the customer support options offered at Prophet Exchange:

  • Live chat
  • Customer service phone number
  • Email address
  • Help/FAQ page
  • Social media pages

How to set limits at Prophet Exchange

Prophet Exchange offers many different ways for players to ensure that they are always having fun and not spending too much time or money on the site. You can set limits on how much money and time you are spending. Enacting these limits is a matter of just a few clicks. You are also able to set a “cool down” period where you will not be able to access the exchange for a self-determined amount of time.

Lastly, Prophet Exchange offers a great “Responsible Gaming” section where you can find helpful links and literature to review if you feel like your gambling is getting out of hand.

Prophet Exchange betting locations and partnerships

Prophet Exchange partnered with Caesars Entertainment and officially launched its product in 2021. The Caesars brand name offers clout and legitimacy to the plucky underdog betting exchange and has allowed it to begin expanding into several US states – including Ohio.

As far as in-person betting locations, there are no places currently in Ohio where players can go and fund their accounts with cash. However, if you find yourself in Atlantic City or Las Vegas, you can visit the cashier cage at Harrah’s Casino to deposit or withdraw funds. This is part of the agreement forged with Caesars Entertainment, which operates Harrah’s casinos. Apart from these two locations, you will have to do all of your banking transactions online, either through the Prophet Exchange desktop software or by using the mobile app.

Prophet Exchange Ohio FAQ

It’s simple, just sign up with Prophet Exchange, and your 25% deposit match bonus will automatically apply to your first deposit. No Prophet Exchange bonus code is required.

Generally speaking, the odds at Prophet Exchange are much better than normal because they are set by other players on this peer-to-peer betting platform.

Players can withdraw their funds via ACH transfer, check by mail, or cash at the cage at Harrah’s Casinos.

You can’t bypass the location check. Your location will be determined by the software. You must be located within Ohio to use Prophet Exchange.

Certainly. Players can bet and take bets on the Browns, the Cincinnati Bengals, and any other NFL team.

There are no fees imposed by Prophet Exchange when you make a withdrawal. The minimum withdrawal amount is $10.