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Prophet debuts first cashout alternative to bookmakers

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Punters cashout at better rates and buy bets at higher odds

Prophet, an innovative technology company, has become the first in the industry to launch a customer-friendly cashout marketplace, which finally puts the outcome of bets into the hands of the consumer.

The unique concept allows bettors to benefit from favourable cashout rates that are not set by bookmakers via a secondary marketplace for sports bets. Instead, Prophet operates as an exchange in which they can sell their bets to interested buyers, resulting in up to 50% better cashout rates.  Buyers on the other side reap the rewards of having on average 10-20% higher odds as a result.

It is hoped the site will appeal to both the casual and more serious punter, with football, rugby, cricket, tennis, and American football currently available, with more sports to follow in 2020. Among the most popular markets at the moment are the Rugby Union World Cup and European top-flight football, with both in-play and pre-match markets now available.

The disruptive technology is the brainchild of American entrepreneurs Dean Sisun and Jake Benzaquen, who have launched the product with a United Kingdom licence in order to take advantage of the country’s mature sports betting market.

Dean Sisun, CEO and Co-founder of Prophet, said: “We are extremely excited about Prophet’s launch which we believe will be a game-changer for sports punters, setting out to be the first platform that truly aims to help consumers in an industry notorious for taking advantage of them.

“The cashout function has been monopolised by bookmakers and been beneficial to them since its inception. We believe it is high time the tables were turned and power restored to the consumers who have been ripped off for far too long.”

Prophet’s end goal is to create a community of bettors who look to help each other make more money with their current sports bets, rather than to continue to give more to their bookmakers.

Sisun added: “Following the success of the betting exchange format in recent years, there has clearly been a gap in the market for a punter-friendly cashout exchange. With our alternative to cashing out via a secondary marketplace, we’re confident Prophet will provide that.

“For example, you bet on Atalanta to beat Manchester City at 11.0 (10/1). They go up 1-0 in the 30th minute and their odds move to 3.0 (2/1). Rather than cashing out at the rate your bookmaker dictates, you can sell your bet to a peer for a price of your choice. For example, if you sell it at 4.0 (3/1), the buyer gets better odds than the bookmaker offers them, the seller guarantees profit, and everybody wins.

“And finally, with our algorithm, we recommend the selling price that will give buyers better odds and sellers the best cashout rate possible, taking out the difficult math and speeding up the process for consumers to cater to in-play markets.”

While the marketplace will initially be available to UK users, Prophet intends to expand into other European markets, Australia, and the United States.

Prophet is most notably backed by leAD sports, the premier sports venture ecosystem inspired by Adi Dassler, the founder of Adidas, in which they were one of seven companies selected to their prestigious accelerator, and M Ventures, a prominent United States venture capital firm


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Prophet debuts first cashout alternative to bookmakers

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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HIPTHER Enters Next-Level Operations Era: E-Residency, Flexibility, Tech & Collaboration

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HIPTHER, the innovative events organiser and media hub behind renowned boutique conferences and online news platforms for the iGaming and Technology industries, is thrilled to announce its new, dynamic era of operations.

Staying true to its international character, HIPTHER breaks free from geographical and logistical limitations by becoming an e-resident company of Estonia and embracing a fully remote work model built on trust, flexibility, and technology.

 

Estonian E-Residency: A Logical Step Forward for HIPTHER

With a strong focus on innovation, digitalisation, and entrepreneurship, Estonia has long been at the forefront of e-governance. For HIPTHER, a company operating across borders with a digital-first mindset, joining the Estonian e-Residency programme was not just a strategic move – it was the natural next step.

The e-Residency allows HIPTHER to maintain a fully online EU-based company, benefiting from Estonia’s transparent business environment, streamlined administration, and modern legal framework. It enables the team to manage operations more efficiently, with secure access to digital services and the freedom to work from anywhere in the world.

Estonia’s global-first approach mirrors HIPTHER’s own values: agility, decentralisation, and forward-thinking, making this alignment more than practical; it’s philosophical. With its new base in the digital nation, HIPTHER further amplifies its mission to connect industries, foster innovation, and redefine how modern companies operate and grow.

 

Remote Work Model: Trust, Flexibility, Collaboration in a Tech-forward Era

Supported by e-Residency and the innovative mindset echoed across HIPTHER’s conferences, virtual events, and media outlets – which cover cutting-edge industries such as Gaming, Fintech, Blockchain, Artificial Intelligence, Cybersecurity, and beyond – the #hipthers are now able to collaborate fully remotely.

Following technological advancements and staying true to its human-centric values of wellness, balance, trust, and originality, HIPTHER takes a bold leap toward remote work –  where others can’t or won’t.

From managing international summits and awards to running online media and virtual panels, HIPTHER has long relied on digital infrastructure, and now turns this into a permanent advantage.

Zoltan Tuendik, HIPTHER’s Co-Founder & Head of Business, shared his thoughts behind this big next step for the company: “We believe in building a future where innovation, flexibility, and human-centric values guide everything we do. For several years now, our team has been working across borders, embracing remote collaboration and digital-first operations. With this step we’re solidifying and elevating a way of working that’s already part of our DNA. Becoming an e-resident company empowers us to bring lasting change and sets the stage for our next chapter of global impact.

 

Join the #hipthers Journey – We’re Hiring!

HIPTHER is growing, and we’re on the lookout for passionate, creative, and driven individuals to join our fully remote team. If you’re excited about working across dynamic industries like iGaming, Tech, Blockchain, and more, we want to hear from you!

 

Open Positions:

  • Social Media & Audience Engagement Lead
  • Virtual Events & Community Coordinator

👉 Check out the openings here –  send us your CV and a short intro to:

[email protected]  or [email protected]

 

We look forward to hearing from you!

The post HIPTHER Enters Next-Level Operations Era: E-Residency, Flexibility, Tech & Collaboration appeared first on European Gaming Industry News.

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Midnite launches in-stadium £1,000 giveaway for Sheffield United and Southampton fans at every home league game

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  • Brace Yourself campaign gives supporters chance to win at every home league match

  • Cash prize awarded every time a home player scores two goals

  • Midnite will match winning prize pot with charitable donation

Fast-growing UK sportsbook Midnite will give Sheffield United and Southampton fans the chance to net £1,000 at every home league match throughout the new season.

Midnite is the front-of-shirt sponsor for Sheffield United and the back-of-shirt sponsor for Southampton and is launching the Brace Yourself campaign for supporters of both clubs.

It means every time a home player scores twice – a brace – one lucky member of the matchday crowd will grab a grand or possibly more – if no brace is scored, the prize pool will roll over to the next home match.

Midnite will also match the prize pool with a donation to charity close to each club.

Fans at Bramall Lane and St Mary’s can enter by scanning QR codes placed around the stadiums and in the matchday programmes and a seat number will be drawn at random before kick-off.

Brace Yourself kicks off on Saturday (August 9) when Southampton host Wrexham and Sheffield United entertain Bristol City.

Andrew Mook, Midnite’s Head of Brand Marketing, said: “We want fans to be on the edge of their seats throughout the season.

“When a home player scores a brace in the EFL Championship this season, Midnite will reward one lucky fan with a cash prize giveaway. Starting off at £1,000 and rolling over each week if there isn’t a winner, the excitement should build throughout the campaign.

“Midnite will also match the fan prize and donate the same amount to a local charity, in a bid to repay some of the amazing work that they do within the local community.”

 

Midnite’s Brace Yourself campaign is open to fans aged 18 and older.

The post Midnite launches in-stadium £1,000 giveaway for Sheffield United and Southampton fans at every home league game appeared first on European Gaming Industry News.

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Lithuanian Basketball League Becomes Betsson-LKL from 2025

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Betsson Group has announced that from the 2025-26 season, Lithuania’s premier basketball league will be officially known as Betsson-LKL.

This marks a new phase in Betsson’s long-standing partnership with the Lithuanian Basketball League (LKL). Since 2017, the Betsafe brand has served as the league’s title sponsor, supporting the continued development of professional basketball in the country. Earlier this year, Betsafe in Lithuania was rebranded to Betsson.

A refreshed visual identity for the league has also been unveiled, marking the beginning of this new chapter.

“This step allows us to further strengthen our position in the market, offer customers the benefits of our technology platform, and continue upholding high standards of responsible gaming,” said Aurimas Šilys, Head of Betsson Lithuania.

“We are grateful for a partnership that goes beyond branding. Our work with Betsson Group is rooted in a shared vision – to develop a top-tier basketball league in Lithuania that inspires fans and players alike,” said Rasa Liuimienė, General Director of the LKL.

The upcoming Betsson-LKL season will officially commence in autumn 2025.

The post Lithuanian Basketball League Becomes Betsson-LKL from 2025 appeared first on European Gaming Industry News.

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