Canada
Prophet Exchange Secures Over $10 Million in Funding
Prophet Exchange, the first fully regulated, peer-to-peer, high-frequency sports betting exchange in the United States, has announced a new line of funding to the tune of over $10 million. Prophet Exchange officially launched in New Jersey in August 2022 and has more recently celebrated a successful Super Bowl, where the company saw over $1 million traded on the event.
Founded by Dean Sisun and Jake Benzaquen in 2018, Prophet Exchange is an entirely peer-to-peer sports betting platform that matches users’ potential bets with others from across New Jersey.
“As excited as we are to enter the emerging market of sports betting, we are a tech company at heart,” said Dean Sisun, CEO and co-founder. “We are a scrappy, lean and agile firm in a sea of behemoths, which allows us to respond to changes and capitalize on opportunities at a moment’s notice. This round of funding will let us continue as disruptors in the betting space and push our fast-moving product forward in this blossoming market.”
Built entirely on proprietary technology, Prophet Exchange is uniquely situated to capitalize on the rapidly changing and expanding sports betting market. As gambling legislation continues to roll out nationwide and change the face of gambling in the U.S., Prophet aims to position itself as the people’s exchange of choice.
The platform offers money line, spread and total markets for NFL, NBA, NHL, MLB, and NCAA football and basketball games, and will continue to add new sports and markets as the platform scales. Soccer, tennis, golf, UFC and other Tier 2 sports will also be going live in the immediate future. And while only users within New Jersey can place bets, users across the country can download the app, view their lines, and learn the ins and outs of peer-to-peer exchanges, free of charge.
In the midst of challenging conditions across the financial markets in 2023, Prophet Exchange’s announcement of $10m in funding, securing backing from MIXI, Inc., Ninjabet and Chicago Trading Company, is a validation for their peer-to-peer exchange model.
While common across Europe, Africa and Asia, peer-to-peer exchanges were absent in the U.S. until 2022, when Prophet opened its doors in New Jersey.
Prophet is using this additional line of funding to look inward and develop the best, most innovative product in a rapidly emerging market. Prophet aims to work toward profitability while growing their already industry-leading tech offering. Additional pro-consumer pieces like increased liquidity, growing the roster of events, adding smart-wallet technology to let users trade more with less, and moving into in-play betting are in the immediate pipeline.
From here, Prophet can roll out its proprietary multi-state technology into new markets as licensing fees and market access agreements continue to come down.
Prophet’s operation first began in the United Kingdom in 2018, as it passed all of the necessary licensing and compliance overseas in order to prove its concept before peer-to-peer exchanges were being considered in the United States. After gaining the relevant experience, the team returned home in 2020 to work with New Jersey regulators to develop exchange rules and regulations in a then-sportsbook-dominated environment.
“To be frank, something has always bothered us about ‘the house always wins,’” COO and co-founder Jake Benzaquen stated. “At Prophet, we win only when the user wins. As the first pro-consumer betting exchange in the country, we believe it’s time for the house to lose a few hands.”
CasinoCanada, the number one gambling guide for players in Canada, has put pen to paper on a major partnership with WinSpirit, one of the most popular crypto casinos in the country, in a significant boost to both parties.
The lifetime partnership will see WinSpirit gain premium positioning on high-traffic pages throughout the English site of CasinoCanada, which has been providing information and guides to Canadian players for more than 20 years.
The CasinoCanada team will also carry out a comprehensive review of WinSpirit so that its readers can get the full lowdown on what the casino has to offer.
CasinoCanada is famous for its casino ranking system, with each site given a total score out of ten. This is calculated based on how the casino scores across key areas including registration process, usability, promotions, VIP experience, slots, game types, payments, mobile and customer support.
Each casino is played by a real person and CasinoCanada is always honest about the experience the casino offers to players. This is why it’s good that WinSpirit offers one of the best overall online casino experiences in Canada.
Players can enjoy a hugely generous welcome bonus as well as a great selection of slots and games such as Dice, Crash, Limbo, Wheel of Fortune and many more.
Aleksandra Drigo, Sales Director at CasinoCanada, said: “WinSpirit has taken the market by storm and is one of the most played online casino brands in Canada, so we are thrilled to have signed this lifetime partnership and to bring it to our players for the first time.
“Our team has already put the casino through its paces, and it’s scored incredibly highly so we look forward to seeing our players sign up and enjoy what it has to offer.
“It’s partnerships such as this that strengthen our position as the leading online casino guide for players in Canada. Players trust our information and reviews and know that the casinos we list on our site are among the best.”
Pavel Miroshnichenko, Head of Affiliates at WinSpirit, added: “We are delighted to have signed such a significant partnership with CasinoCanada, one of the leading online casino guides in the country.
“We go to great lengths to deliver a top player experience, from the welcome bonus we offer to the games we stock and the payment methods available in our lobby, and it’s great to see CasinoCanada recognise this by giving us such a high score.”
Canada
mkodo Joins the Canadian Gaming Association in its Commitment to Supporting the Regulated Canadian Gaming Market
mkodo, the leading provider of mobile apps, websites, front-end UX and geolocation technology to the Canadian lotteries, including OLG, BCLC, WCLC, ALC and AGLC for over 13 years, is proud to announce its recent membership to the Canadian Gaming Association (CGA). This strategic partnership demonstrates mkodo’s commitment to supporting and enhancing the digital experience within Canada’s dynamic regulated iGaming sector.
As a member of the CGA, mkodo will collaborate with other industry leaders to drive innovation, advocate for responsible gaming practices, and contribute to the overall growth and sustainability of lottery, betting and gaming, both land-based and online, across the Canadian provinces.
Joining the CGA highlights mkodo’s dedication to delivering high-quality, secure, and user-friendly products and services that meet the changing needs of iGaming operators and their players, including their geolocation compliance service, GeoLocs, that is used by lottery operators across Canada, including OLG and WCLC, along with iGaming operators and platforms in Ontario including White Hat Gaming,, Casino Time and Betty.
Stuart Godfree, Managing Director of mkodo, said of the new partnership: “We are thrilled to join the Canadian Gaming Association, an organisation that plays a crucial role in shaping the future of the regulated gaming industry in Canada. This membership aligns perfectly with our mission to provide exceptional user experiences in iGaming and Lottery and reinforces our commitment to supporting responsible gaming initiatives within Canada. We look forward to collaborating with CGA members to drive forward the industry’s standards and innovation.”
Paul Burns, President and CEO of the Canadian Gaming Association, welcomed mkodo to the association, saying: “We are delighted to have mkodo join our membership. Their expertise as the leading mobile apps and geolocation supplier to Crown Corporations Lotteries will be a valuable addition to our community.”
GeoLocs by mkodo, proven and trusted provider of geolocation services built exclusively for the iGaming industry, is excited to announce its partnership with casino operator, Casino Time. This collaboration marks a significant milestone in delivering secure and seamless online gaming experiences to Casino Time players in Ontario.
With the legalisation of iGaming in Ontario 2 years ago, regulatory compliance and player safety are top priorities for operators across North America. GeoLocs state-of-the-art geolocation compliance technology, coupled with its dedication to data protection (as seen by the recent ISO certification), provide Casino Time with guaranteed compliance while prioritising player privacy.
Through GeoLocs’ intuitive and easy-to-implement SDK and the highly self-serviceable GeoLocs platform, Casino Time provides its players with a seamless user experience, requiring no additional downloads, resulting in uninterrupted access to their favourite games while maintaining compliance with Ontario’s iGaming regulations.
Jeffrey Holmes, COO at Casino Time said: “Casino Time’s mission is to create the best possible gaming experience for its users and partnering with GeoLocs for our geolocation verification service means that we can provide our players with an online casino experience like no other. An experience that is secure and seamless, whilst also remaining compliant with regulations set out by the province of Ontario. The support provided by the team at GeoLocs has been incredible and their knowledge of geolocation and the Ontario market is second to none. With GeoLocs, we can ensure that our operations meet regulatory requirements while delivering a frictionless experience for our players.”
Stuart Godfree, Managing Director at mkodo, said: “We are excited to partner with Casino Time to support their expansion into the Ontario iGaming market. GeoLocs is designed to prioritise data protection and regulatory compliance while delivering a seamless experience for both operators and players. With GeoLocs technology, Casino Time can operate with confidence, knowing that they are meeting regulatory standards and providing their players with a safe and secure gaming environment.”
The partnership between GeoLocs and Casino Time demonstrates a shared commitment to excellence, compliance, and player experience in the iGaming industry. By leveraging GeoLocs’ advanced geolocation technology, Casino Time aims to enhance its position as a leading provider of online gaming experiences in Ontario.
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