Philly tech start-up Sporttrade has a new model for sports betting, and it looks a lot like a stock exchange
Alex Kane traces the origin of his Big Idea to revolutionize sports betting to his junior year at Drexel University, when he and his father placed a wager on an obscure Thai golfer to win the 2016 Masters Tournament.
Kane’s golfer, Kiradech Aphibarnrat, performed surprisingly well through the first half of the four-day tournament and was only a few strokes behind the leader after two rounds. The odds in his favor had risen about 100 times from the start of the tournament.
Kane would have liked to trade his bet at that point, just as he could sell a stock or cryptocurrency on a smartphone app such as Robinhood or Coinbase, the popular tools for a new generation of traders. But there was no similar market platform for trading sports bets.
“That’s when I realized, `Oh, my gosh, this structure stinks,’” said Kane, who grew up in Birmingham Township, Chester County. “It should be…