Until now, ZenSports has built its entire peer-to-peer sports betting business by selling directly to consumers. With the launch of its new ZenSports for Businesses product suite, the company is expanding into a new enterprise offering that will give sports industry organizations the ability to harness the power of ZenSports’ peer-to-peer sports betting and cryptocurrency technologies.
ZenSports’ consumer product is a 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. Consumers can quickly and easily create their own bets with their own odds and terms or accept bets that others in the marketplace have created, all at a fraction of the cost that traditional bookmakers charge and all right from their phone. As a decentralized marketplace for sports betting, ZenSports is eliminating the need for a bookmaker altogether, and giving bettors a cheaper, faster, and more trustworthy process for wagering on sports.
ZenSports has also created its own cryptocurrency utility token called SPORTS, which consumers can use for placing bets, earning discounted betting fees, and getting cash back, bonuses, and other rewards. Betting with SPORTS tokens gives customers a more exciting and rewards-driven experience for wagering on sports than what traditional bookmakers offer. Since launching its SPORTS token in July 2019, almost 100% of all bets within the app have been made using SPORTS, even though the company also offers the ability to bet in dollars or Bitcoin.
According to ZenSports co-founder and CEO Mark Thomas, it is now ZenSports’ goal to also give other sports ecosystem partners access to its peer-to-peer sports betting platform, as well as its SPORTS cryptocurrency token. “There are numerous enterprises within the sports industry that are looking for a white-label solution for betting on sports. While other traditional bookmaking software solutions exist, none offer the same peer-to-peer, decentralized marketplace for sports betting like ZenSports does. In addition, the loyalty and rewards programs at many of these companies need to be revamped or are non-existent. Our SPORTS token and cryptocurrency/blockchain technology offer a perfect solution to drive loyalty and engagement with the audiences of these partners, just like it does for ZenSports.”
Thomas is especially bullish on the integration of SPORTS tokens into the payments and rewards programs of other sports ecosystem partners. “We’ve seen first-hand how exciting a cryptocurrency-based rewards platform is for consumers and how it creates deep loyalty and engagement. Our customer churn at ZenSports is almost zero because of the loyalty and rewards that we’ve built around our SPORTS token. Now think about integrating SPORTS tokens into other access points within the sports ecosystem, such as online merchandise, media/content, event ticketing, in-game food and beverage, and professional sports teams/leagues, thereby creating an entire payment and rewards system from beginning to end for sports enthusiasts.”