Sweepstakes Sportsbooks: A New Trend?

The rise of sweepstakes sportsbooks in the United States has caught the attention of many experts in the sports betting industry, and it cannot be denied that it is getting some traction considering that it is starting to cause some friction in the industry. As it sets the trend in the betting scene, it does seem that there are a lot of talks as to how it will eventually affect the future of the various sportsbooks that are already established in the industry.

What are Sweepstakes Sportsbooks?

Sweepstakes sportsbooks have set a trend in betting image

Sweepstakes sportsbooks have become an emerging trend in the online betting scene, with many experts considering it as a distinct category that sets them apart from other entities in the industry. What makes it different is that it is governed by sweepstakes laws as opposed to being tied to traditional gambling rules and regulations. This makes them more flexible and easy to come up with different operational standards compared to the established sportsbooks out there. It has also set them apart from the rest of the competition and has opened up a lot of opportunities for them in the long run.

So what does this actually mean for the sports betting industry and all the bettors out there?

The use of a virtual currency makes them more flexible in the long run as these are used for betting rather than real money, and punters can acquire these currencies with the use of free methods before they can engage in betting activities as if they are doing it like how other betting sites operate. This setup allows users to have a much more versatile betting experience while operators have the ability to exceed the limitations set to most betting sites out there.

Sweepstakes sportsbooks opens a chance to earn profit in the long run image

Where traditional options may be limited, sweepstakes sportsbooks takes pride in being available considering that they are only attached to the laws of sweepstakes rather than for online betting sites. This means that these entities are more prominent and are available in most states compared to sportsbooks – which are limited by the different bans and betting laws in a respective state.

Are Sweepstakes Sportsbooks Considered a Loophole in the Law?

Sweepstakes sportsbooks are quite innovative at this point. It is seen as a way to allow sportsbooks to reach various states where they normally couldn’t, which means they can give access to different players across the country while bypassing the laws that traditional sportsbooks normally could not.

It just means that these sweepstakes sportsbooks are not running against any laws. It is clear that it is still gambling, but with the label of sweepstakes attached to the operators, it does absolve them from the laws set before traditional sportsbooks that are prominent in the country right now. With a lot of states having less restrictive laws when it comes to sweepstakes, it does seem that everyone can be cool with it in the long run – unless the United States government suddenly comes up with different amendments to the current betting laws.

Well-Known Sweepstakes Sportsbooks in the Industry

The trend is definitely quite contagious so far, with different sportsbooks either transitioning to becoming sweepstakes sportsbooks or operators establishing themselves as the latter in the long run. As many sportsbooks try to take on the current trend and establish themselves with more flexibility in the industry by repositioning themselves as sweepstakes sportsbooks, it does seem that the rise of this kind of operators is expected to bring a massive shift in the betting scene in the long run.

Here are some of the known sweepstakes sportsbooks that have ignited the hype for the betting industry at this point in time:

ProphetX

ProphetX image

Prophet Exchange comes in as a new brand in its relaunch, identifying itself as a peer-to-peer platform under the wing of sweepstakes sportsbooks. It will be available in almost 40 states – with less oversight and taxation. It has pivoted from the known gaming space and has converted into a sweepstakes model, showing that they have what it takes to come up with a new venture to attract all types of users. It now moves on from having players bet against each other into betting against the house. The only markets it won’t cover in its launch would be Nevada, Montana, Idaho, Michigan, Kentucky, Tennessee, Louisiana, and Alabama.

Fliff

Social sports betting is indeed at another level as Fliff takes over as one of the sportsbooks that operates under sweepstakes laws. It runs with Fliff Cash as its main virtual currency. This can be used to bet on the games as if it is betting on a normal sportsbook. Fluff currently operates in a total of 45 states in the United States, with the exceptions being Washington, Tennessee, Nevada, Idaho, and Hawaii. It is also worth noting that Fliff Cash is forbidden in 11 other states, such as Alabama, Georgia, Iowa, Indiana, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Ohio, and South Carolina.

Fliff image

Thrillzz

Thrillzz image

Thrillzz operates in a total of 36 states as of the time of writing, and just like any sweepstakes sportsbook, it is available in more states than sports betting. It runs with three currencies for bettors to enjoy their time in placing their bets, starting with the coins, which is considered a free-to-play currency in the site. Sweep Tokens, on the other hand, serve as the main currency for you to bet on your favorite games. It is denoted by a purple symbol with a dollar sign. Winning bets yields you prize tickets, which can be converted 1-1 to actual dollars, but requires players to have at least 50 prize tickets to withdraw.

Can Sweepstakes Sportsbooks Become a New Trend?

It is easy to say that the sports betting industry has seen a new groove with the rise of sweepstakes sportsbooks. Many operators are definitely taking the pass and are even considering to trade paying taxes on sports, betting revenue, and licensing fees to be able to operate on a much wider scale. As long as the water keeps flowing, it is expected that more and more operators will try to find a way to increase their presence in the country.

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