A Chester County native is revolutionizing sports betting apps. The start-up Sporttrade, founded by Birmingham Township’s Alex Kane, took the app live in Colorado, and has plans to expand to a couple more states by the first quarter of 2024, writes Ryan Mulligan for the Philadelphia Business Journal.  

The app launched in New Jersey last year, and the user base has since quadrupled to 4,000. Similar to a stock exchange, bettors can trade bets on the platform and can transfer the balance state-to-state. Other apps require different accounts to comply with state laws.  

Its expansion in Colorado is due to it being one of the first states to legalize sports betting. Some states in the country require partnerships with brick-and-mortar casinos. In New Jersey for instance, Sporttrade partnered with Bally’s Atlantic City Hotel & Casino.

Licensing fees, which are also a requirement for betting apps, can cost millions of dollars. However, some states are more affordable. Although Kane has struck up partnership agreements with Louisiana and Indiana, he has not yet disclosed which state Sporttrade will be launching in next.  

This football season, the app plans to increase the number of different bets to 10,000 options, allowing users to bet on nearly any spread for a game.  

Read more about the Chester County CEO’s plans to expand the sports betting app in the Philadelphia Business Journal.  

More about Sporttrade.