A groundbreaking partnership between PropSwap, the largest secondary market for sports wagers, and Bally Bet, a leading sportsbook operator, is set to reshape sports betting in Mississippi. Announced on March 27, this collaboration comes just in time for the Round of 16 in both men’s and women’s college basketball tournaments. The partnership marks a significant step in PropSwap’s expansion while strengthening Bally Bet’s presence in the Magnolia State.
Under this agreement, PropSwap will work with Bally Bet’s two Mississippi-based sportsbooks at the Hard Rock Hotel and Casino Biloxi and Bally’s Vicksburg Casino. The partnership aims to enhance the sports wagering experience by allowing bettors to capitalize on their bets through PropSwap’s secondary market.
By leveraging PropSwap’s expansive database of users and Bally Bet’s retail locations, the initiative seeks to increase betting activity while providing new ways for gamblers to profit. Bettors can now place wagers with the added flexibility of selling tickets that have appreciated in value, enabling them to lock in profits before a final outcome is determined.
Data-Driven Innovation in Sports Betting
Empirical data from PropSwap highlights that sportsbook users are more likely to place larger wagers and engage in future and parlay betting when they have confidence in the ability to exit bets at a fair market value. This data-driven approach is expected to drive more ticket sales and increase the overall handle at Bally Bet locations.
PropSwap’s CEO and founder, Luke Pergande, emphasized the transformative impact of this new model on the sports betting landscape. “Since PASPA was overturned in 2018, PropSwap has been uniquely positioned to provide a fun experience, and more importantly, a margin improvement to both sportsbooks and their customers,” Pergande stated in a company press release. “We are forever changing how people wager on sports. Your bets no longer need to win to get paid. They simply need to improve.”
In addition to the partnership, PropSwap has appointed Dustin Gouker as a strategic advisor. Gouker, a respected gambling industry expert, will provide guidance to support PropSwap’s continued growth and innovation. “PropSwap has been an innovator in sports betting, and I am excited to help the company in the next phase of its growth,” Gouker remarked. “Deals like this with retail sportsbooks in a state with legal sports betting are a testament to what Luke and the team have built, and their desire to help grow the regulated industry.”
Challenges and Future Prospects
Despite its success, PropSwap has faced regulatory hurdles in other states. In 2024, the Nevada Gaming Control Board denied PropSwap’s proposal to allow licensed operators to trade sports bets within the state. The regulatory body cited licensing concerns and demand issues, maintaining restrictions on secondary wagering markets in Nevada.
Nevertheless, PropSwap continues to expand, with operations now active in over 20 states. This new collaboration with Bally Bet marks a crucial milestone in bringing innovative betting solutions to Mississippi and beyond.