ProphetX has shifted from a social sportsbook to a Designated Contract Market. As a regulated peer-to-peer sports exchange, you can buy and sell sports prediction positions. This ProphetX review will detail the liquidity, markets and much more.
Top Prophet X Predictions Alternative for October
From the start, new users can trade $50 and unlock $75 in bonuses. You can use the bonuses on both the desktop website and mobile apps. We also observed that there are low net gain fees. Currently, there is a 2% straight prediction contract fee for net gain wins. This applies only to winning predictions, not to losing outcomes.
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Available Languages
en
Accepts Customers from
US
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AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY
New Users Can Get $75 in Bonuses After Trading $50
Similar to the welcome offer we unpacked in our
Plus500 review, there is also a trade and get promo on ProphetX. At the time of writing, new users can make $50 in prediction trades and trigger $75 in bonuses.
There are no promo codes to claim this offer. Instead, use the banners to join and make your qualifying trades. Thereafter, the $75 in rewards will be credited in three $25 installments. In our experience, we received the first $25 on Day 1. Thereafter, we got another $25 on Day 7. The final $25 was credited to our account on Day 14.
We would have preferred to receive the full $75 in one go. However, we had no issues with the bonus retrievals, so no complaints from us.
Referral Rewards and VIP Perks for Existing Users
There are a few promotions for existing users as well. Our
ProphetX bonus
page shares more details on these promos. However, here is a brief rundown on the common offers:
We found a VIP program. Interestingly, this is not widely advertised on the platform. We learned that it is an invite-only VIP club. You must be an active user and provide sufficient liquidity to the markets to be considered for the VIP club. The main perks include lower trading fees and prediction market credits.
Unlike the VIP perks, the referral bonus is inclusive to everyone. You can share your link with your friends, and you both can unlock $25 credits. Just remember that your friends must sign up with your link and trade $50 in sports predictions. For every additional referral, you will trigger another $5 reward, which is capped at $50.
Enjoy bigger payouts on ProphetX
Predict with the best odds on Prophet X
How Does ProphetX Prediction Markets Work?
Prophet X operates a peer-to-peer exchange. You make prediction trades on the outcome of real-world events.
All trades are in binary form (Yes or No outcomes). As with many other platforms, market prices range from $0.01 to $0.99. Winning outcomes settle at $1, while losing outcomes settle at $0.
Prices are displayed as implied probabilities. This depicts the likelihood that other users believe a specific outcome will occur. The higher the probability, the lower the potential returns from winning predictions.
There are two main order types: market and limit orders. Below is an overview of each:
Market order
– You place trades at the next available price. Every contract is executed quickly, though prices are not guaranteed.
Limit order
– Place trades at a specific price you want. If your price is not available, your order may not be filled.
Types of Future Events Contracts
The markets on ProphetX reminded us of
Adi Predictstreet prediction markets. There is a heavy focus on sports outcomes. You can trade sports outcomes for all major leagues and competitions. This includes the NFL, the FIFA World Cup, the English Premier League and the ATP World Finals.
For many of these markets, you can make single predictions plus multi-leg parlays. When making parlays, you have to Request for Quote (RTQ).
The main sports outcomes cover match winners, totals, player props and outrights. Live sports predictions are also permitted. We observed that most live options are for tennis games.
Although sports are the bread and butter on ProphetX, other future event categories may be in the pipeline. While using the site, we saw a few political markets. There is limited liquidity for these, so it looks like the non-sports options are a work in progress.
Are There Any Trading Fees?
The only fee incurred is a 2% straight prediction fee for net gain wins. We were pleased to note that this is not charged for losing outcomes. Parlay predictions have 0% net gain winning fees.
Here is an example of how the net gain fee is calculated:
Let’s say that you put $100 on the Steelers to beat the Browns at 57% probability. This means that you would receive $75 should the Steelers win. However, with the 2% net gain fee, you will actually receive $73 (75 × 0.98). So, your prediction will close at $1, and you will receive $173 (including your $100 investment).
You Can Make Trades on the Desktop Website
Unlike the wait for desktop trades covered in our
Meta Arena app review, ProphetX is already live on desktop. You can buy and sell prediction positions with your laptop or PC.
When we first used the website, it was a bit of a learning curve. Understanding the probabilities took a bit of time, but the tutorial guides helped to understand how markets work.
ProphetX has simplified the desktop experience. There are several banners and a search tool, so you will not have issues finding important pages. The navigation menus are located on the left. Your balance is at the top right. Finally, the trade slip section is on the right of the homepage.
We noticed that when you click an informational page heading, it opens in a separate page in your browser. We preferred this as our current page was not automatically closed.
Prediction Trading Is Available with the Mobile Apps
The mobile prediction experience is available via the ProphetX app and mobile-optimized website. Each of these platforms mirrors the desktop website. The apps can be downloaded from the Google Play Store and Apple App Store. The mobile website requires no software installation; simply enter the ProphetX URL in your browser and the site should load.
We found that performance is good on each mobile platform. Markets update in real time, and there are no long wait times for your trade to be accepted. Even on smaller screens, there are no display issues, and nothing is cut off.
Access ProphetX on mobile
Navigate the ProphetX site with ease
Payment Methods for ProphetX Users
You can fund your account using debit cards, Apple Pay, Google Pay, bank transfer and crypto via Zerohash. The payment methods are similar to the ones we detailed in our
Gemini Predictions review. Regardless of your payment option, the minimum deposit starts from $10. In our experience, deposits are processed instantly.
When using the banking page, all payments will be made via a pop-up window. So, make sure you turn off any pop-up blockers on your device.
Per the terms, you cannot withdraw unless your account is KYC approved. We recommend you submit your proof of ID and address ahead of time. That way, there are no delays when withdrawing. We observed that ProphetX does not charge withdrawal fees.
You can withdraw via bank transfer or wire transfer. On average, it can take up to five working days for the funds to reflect in your account. Also, remember that no withdrawals are processed on holiday weekends.
Our Thoughts on the Customer Service on ProphetX
Customer service is one of the site’s strong points. Interestingly, there is no live chat. Many other platforms have live chat, so it is surprising that ProphetX has taken this approach.
Instead of live chat, there is phone support. You can call the team to ask any questions. When we called the team, it only took a few rings before we were connected to an agent.
You can also email the team. Sending an email is a good choice if you have detailed queries and want to keep a communication thread. In our experience, it takes about an hour to receive a reply.
There is no catch with the customer service, but you have to diarize the support hours. At the time of writing, live support is available daily between 8 AM and 8 PM EST.
In addition to phone and email, there is also a Help Center. You should use this first before using live support. The FAQs are detailed and well-explained, with examples.
Is ProphetX a Legitimate Prediction Site?
Yes, the brand is a trustworthy platform. You may be familiar with the ProphetX brand. Initially, they were a respected social sportsbook. In recent times, they have transitioned to a peer-to-peer sports exchange.
ProphetX is regulated by the Commodity Futures Trading Commission (CFTC). The platform operates as a Designated Contract Market (DCM). As a CFTC-regulated DCM, the site is permitted federally across the US. Currently, you cannot make predictions in Nevada.
User safety is also prioritized. We had access to responsible trading tools, such as deposit limits and self-exclusion. Every time we logged into our account, we had to enter our password that we created when joining.
Verdict – Join ProphetX and Trade Sports Prediction Positions
For a new peer-to-peer sports exchange, there is a lot to like about ProphetX. If you enjoy sports predictions, you can trade on all major US and international leagues. This includes the NFL, NBA and ATP Tennis.
We observed that everything centers on sports predictions. There is a small politics section, but this is a work in progress. So, if you want an all-round experience, ProphetX may not be the brand for you.
However, for sports users, the platform ranks amongst the top options. Want to test the site for yourself? To do so, use the banners displayed here to create a new account. Be responsible and have fun.
ProphetX Review FAQs
ProphetX is a regulated peer-to-peer sports exchange. It is regulated by the CFTC and operates as a Designated Contract Market.
Currently, the brand is federally permitted in most US states. However, based on our research, you cannot create an account if you reside in Nevada.
Yes. New users can make $50 in prediction trades and trigger $75 in bonuses.
Yes. There are standalone mobile apps and a mobile-optimized website. These platforms mirror the desktop website.
ProphetX primarily focuses on sports markets. You can enter prediction positions for soccer, football, hockey, baseball, basketball, golf and tennis. The majority of these markets have high liquidity.
Enjoy bigger payouts on ProphetX
Predict with the best odds on Prophet X
Access ProphetX on mobile
Navigate the ProphetX site with ease
