ZenSports

Overview of ZenSports

ZenSports, the mobile peer-to-peer sports betting marketplace where anyone can create and accept sports bets with anyone else in the world without the need for a centralized bookmaker, has just announced the launch of its own cryptocurrency utility token called SPORTS.

ZenSports plans to kick off the new feature by hosting a 64-player, double elimination eFootball (soccer) bracket tournament, with a few of the top players in North America, which include King CJ0, TheMightyPed, and cisséSZN having already confirmed their atseemance.

ZenSports Co-Founder and CEO Mark Thomas commented: “One of the biggest hurdles in getting licensed to operate an internet/mobile sports betting platform in the United States is the requirement to own or partner with a land-based sportsbook and casino.

ZenSports also recently launched its new ZenSports for Businesses product suite, which gives sports, gaming, and media industry enterprises the ability to harness the power of ZenSports’ peer-to-peer sports betting and cryptocurrency payment technologies.

ZenSports‘ peer-to-peer sports betting product, which has focused entirely on the international market since launching in March 2019, has taken its first step towards getting licensed in the US via a deal with Strategic Gaming Management.

ZenSports, a West Hollywood, Calif.-based mobile sports betting app that offers both a traditional book plus peer-to-peer sports betting platform using fiat or cryptocurrencies, closed a $2.4m Series A funding.

ZenSports CEO Mark Thomas tells Gaming America exclusively, “For us to be able to strike that deal where we have that option to purchase anytime over the next three and-a-half years is a big deal.

ZenSports is obviously serious about their foray into the US market, – they received $1.4 million in seed funding in a recent round of investing designed at making their presence known in the US.

ZenSports has retained the law firm of ​Saltzman Mugan Dushoff​ in Las Vegas to assist with the Nevada licensing process, and with ​BMM Testlabs​ for the technology certification process.

ZenSports’ commitment to diversity within the LGBTQ and other minority communities is core to Gaingels’ mission and we couldn’t be more thrilled to help the company on its journey."

Blockchain

All of the interactions between bettors and the ZenSports app are anticipated to be handled through smart contracts built on ICON's blockchain, so as to further prevent any centralized party from accessing betting funds or doing anything nefarious with those funds.All transactions are anticipated to be recorded on ICON's blockchain, which has been known to be fair and verifiable.This aims to give bettors a cheaper, faster, and more trustworthy process for wagering on sports than traditional online sportsbooks offer.

Network

No deposits, bets, withdrawals, or rewards can take place in-app using SPORT.The SPORTS token can be purchased directly on the native ZenSport exchange, created specifically for the distribution of tokens following the problems with the DCoin exchange last January.What is of interest to bettors, on the other hand, is the SPORTS token utility which actually serves to interact with the platform as a mechanism for betting and earning rewards through the ZenSports mobile app and network.

Support

Colorado has already been identified as the next possible destination for the company at Cripple Creek.Licenses and technological certification still have to be approved, the apps have to be tailored for the Nevada market and the Company still has to drum up support for the new idea before ZenSports can be considered a major player in the blossoming US legal sports betting scene.

Transactions

"We anticipate ZenSports to be viewed as a fair brand that all sports bettors can trust because we can't be in the middle of a transaction even if we wanted to, and all transactions are verifiable on the blockchain," said Thomas.

How Do You Manage your ZenSports Funds?

There is a single location in your ZenSports account for managing your funds and transactions.Via your account, you can easily transfer SPORT or ICX tokens in minutes.You can make a deposit via credit card or ACH transfer, both of which are also offered for fiat payouts.ZenSports ensures that viewing and accessing funds are fast, simple, and safe.

What Devices Can You Use with ZenSports?

To make ZenSports more accessible to a range of users, it is available for both Android and Apple devices in the Google Play Store and App Store, respectively.The fact that ZenSports already has a functional product places the project in sharp contrast to competitors since most blockchain and cryptocurrency projects only have an idea, possibly with very little development.

How old do I have to be to place bets in Tennessee?

You have to be at least twenty-one years old to place bets in Tennessee.

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Which Sports and Leagues Can Tennessee Customers Bet on?

In Tennessee, you would be able to place bets on all the major US leagues, like the NFL, NHL, MLB, NBA, and MLS.Bookmakers are also allowed to offer betting on multiple internationally popular sports and college sports.But in-game college bets aren’t allowed.You can also place prop bets on professional and college sports, which have become widely requested in the US.

Do I have to be a resident of Tennessee to place bets in the state?

No, you don’t.You only need to be inside state lines while you place the bets.

What Is the SPORT Token?

SPORT is the token behind ZenSports.This token has its own economy and serves a range of functions, including funding accounts, placing bets, making payments, paying penalties, and earning rewards.The marketplace redistributes betting fees depending on the SPORT token percentage.This makes it possible to earn passive income each month just by holding the SPORT token.

What Does the ZenSports Roadmap Look Like?

As mentioned, ZenSports already has functional platforms for Apple and Android devices.As such, a good deal of the roadmap has already been completed.September 2018 saw ZenSports launch the fiat version of its sports betting platform.In Q4 2018, ZenSports created the SPORT token, as well as smart contracts for the ICO.It is taking care of the PR and marketing for the ICO and conducting the ICO, which runs into Q1 2019.

How many licenses will be allowed in Tennessee?

Tennessee law isn’t like other states, where only several licenses are allowed.In theory, there can be an infinite number of Sportsbooks in the state, which opens the market for a lot of brands, but due to the unique 10% hold on all wagers, not as many Sportsbooks would want to set up in the state.

Are Daily Fantasy Sports or Horse Racing betting allowed in Tennessee?

Yes, they are.DFS was launched in 2016, and online betting on horse racing is allowed in TN.You can wager on DFS with Draftkings or Fanduel for example.

What payment methods are allowed in Tennessee?

Tennessee customers can deposit or withdraw via electronic bank transfers, debit cards, online/mobile payment systems, etc.All payment methods must be approved by TELC.

Do State Casinos Have Sportsbooks in Tennessee?

Tennessee is the first US state to allow only online and mobile sports betting.They don’t have any casinos, horse tracks, or OTB’s, so the mobile-only sports betting plan seems to be the right decision for the state.

Will I have to confirm my location to place bets in TN?

Yes, you do.You will have to verify that you are inside Tennessee at the time of placing the wager.

What is ZenSports?

ZenSports has been operating internationally as a peer-to-peer sports betting marketplace since March 2019.

What Should You Know about the Token Sale?

The presale for SPORT tokens runs until Nov.30, 2018, with the public sale running from Dec.1, 2018, to Jan.5, 2019.The token price range is $0.0024 to $0.006, depending on the time during the sale.There is a minimum investment of $25 and a maximum investment of $8 million up to the hard cap, which is $12 million.

Which Online Sportsbooks Plan to Launch in the Future?

Since Tennessee has no limit of how many Sportsbooks can launch, we expect many more to come forward and apply.There isn’t a timeframe in which applications are reviewed, so we can’t say how long it will take for the applicants to launch or when that will happen.

History of ZenSports