Slips operates a peer-to-peer betting exchange where users wager against each other rather than against a house. The mobile app supports head-to-head challenges, shared pools, and tournament-style parlays across leagues including the NFL and NBA, with a social feed built around competing with friends. In 2026 the company added AI-generated prediction markets that automatically create and resolve markets on sports, politics, entertainment, and finance using large language models. Slips reports more than 150,000 registered users and over $6 million in cumulative winnings paid out.