Blockchain

ZenSports: Leading P2P Sports Betting Marketplace Backed by Blockchain

Throughout the years, gambling has developed considerably. As the internet users have increased over the years, one can place a bet online through a mobile phone without visiting a gambling club. One of the most important digital transformations which had originated from the execution of blockchain is sports betting. Because of its safe, decentralized structure, blockchain opens the doors for sports betting which was just an idea earlier.

ZenSports

ZenSports is a P2P (peer-to-peer) sports betting marketplace driven by blockchain, where anybody can create and acknowledge sports bets with any other person on the globe, without the requirement for a centralized bookmaker. Bettors can fund their accounts, pay commissions, place bets, and cash their rewards through cryptocurrencies, which also includes ZenSports’ very own SPORT token. By using the smart contracts along with ICON’s blockchain protocol, and a defined token economy, ZenSports offers a completely decentralized betting platform.

Elimination of bookmaker 

ZenSports is a developing P2P sport betting marketplace that uses blockchain technology and empowers clients to accept and create bets without a centralized bookmaker. Further, as a decentralized marketplace for sports betting, ZenSports eliminates the requirement for a bookmaker and provides bettors a less expensive, faster, and trustworthy procedure for betting on sports. Check Sports Betting News for more updates & news on it.

Cryptocurrency payments

ZenSports offers international bettors outside the United States to create sports bets using real-money; it had concentrated exclusively on cryptocurrency payments for the benefit of its customers. Clients who had already made a deposit or cashing out at Zensports iOS and Android applications using Bitcoin, Litecoin, or Ethereum would now be able to decide to make online transactions through the Skrill digital wallet; enabling them to transfer or withdraw funds in fiat cash of their choice.

Funding

Last October, ZenSports closed additional 675K dollars in Seed Funding and quite recently declared the closing of another 675K dollar in additional seed funding. Further, the funding will be essentially utilized for marketing and client acquisition strategies.

Partnership

Last year ZenSports partnered with Nevada Sports Book and introduced automated payments partnership. The partnership signed with the Nevada sportsbook was aimed to tap the U.S market. This was considered as a step taken towards getting authorized in the U.S. and global markets.

Products

ZenSports is the only native mobile application that offers P2P sports betting on both the App Store and Play Store. Furthermore, ZenSports Daily Fantasy Sports contests are accessible to the residents within and outside the United States.

SPORTS Token

  • ZenSports has made its very own cryptocurrency utility token called SPORTS, where clients can use them for placing bets, gaining discounted betting fees, and for getting bonuses, cashback, rewards, and several other rewards.
  • SPORTS tokens betting provides clients a more incredible and rewards-driven experience for betting on sports than what is offered by traditional bookmakers. Since launching the SPORTS token in July 2019, practically all bets within the application have been made utilizing SPORTS, although Zensports offer their customers to bet in Bitcoin or dollars.
  • ZenSports pays its first dividends to SPORT token holders. Besides, the dividend depends on the total SPORTS utility token betting volume accomplished each quarter within the ZenSports application.
  • ZenSports declared that its 2019 Q4 profit payout was made most recently, and the Q4 dividend was over 5x higher than Q3 regarding betting volume, which resulted in increased tokens payout.

Wrap up

The special features of ZenSports enable clients to self-manage the complete end-to-end betting process. Through secure, decentralized data storage, blockchain empowers platforms like ZenSports, which offers bettors transparency and flexibility to make their bets.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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