Harrah’s Gulf Coast Announced As First Official Casino Partner Of Sports Wager Secondary Market Site PropSwap
“We are forever changing how people wager on sports," said PropSwap's Luke Pergande. "We’re excited that Harrah’s shares that vision."
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Starting Saturday, PropSwap, a site that allows active sports bets to be bought and sold on the secondary market, will begin its first partnership with a casino, Harrah’s Gulf Coast in Biloxi, Mississippi.
The two entities, “will combine efforts to create exclusive customer experiences,” according to a press release announcing the partnership. PropSwap brings to the deal a large database of North American users, while Harrah’s brings a major casino brand name and a land-based sportsbook presence.
“Since PASPA was overturned in 2018, PropSwap has been uniquely positioned to provide a fun, and more importantly, a margin improvement, to both sportsbooks, and their end customers,” PropSwap co-founder Luke Pergande said in the release. “We are forever changing how people wager on sports. We’re excited that Harrah’s Gulf Coast shares that vision with us, and are looking forward to the commencement of the partnership this weekend.”
In a state in which retail sports betting was legalized in 2018 but mobile betting legislation is still being crafted six years later, Harrah’s Gulf Coast is known in part for easy, convenient access to its sports betting kiosks.
Swapping stories
PropSwap has been at the center of the sports betting news cycle on numerous occasions. One notable recent example saw a bettor who risked $2,000 to win $200,000 on Brock Purdy for 2023-24 NFL MVP lock in a tremendous profit in December when Purdy was a -200 favorite to win the award, selling the ticket for $125,000. (Lamar Jackson captured the MVP award, making it a spectacular PropSwap sale and a disastrous purchase.)
Harrah’s Gulf Coast, a Caesars Entertainment property with a Caesars Sportsbook on site, celebrated its 30th anniversary this year, having first opened on Jan. 21, 1994.
According to the press release, PropSwap believes the partnership will increase betting handle and ticket count at the casino, with customers knowing they’ll have the opportunity to sell their betting slips if they believe it advantageous to do so. PropSwap, founded in 2015, “possesses nearly a decade of empirical data that shows their users, when activated, exponentially increase favorable handle at their preferred sportsbook,” the release says.
Whether either party will look to sell its position in this partnership early remains to be seen.
