ZenSports is a mobile application that offers a decentralized peer-to-peer sports betting marketplace built on blockchain technology. Launched in 2018, the platform allows users to create and accept sports bets without the need for a centralized bookmaker. ZenSports utilizes smart contracts and the ICON protocol, facilitating a trustless betting system where results and disputes are settled transparently by the marketplace.
The ZenSports ecosystem is powered by the SPORT utility token, which streamlines betting processes, rewards, penalties, and payments. Users can fund their accounts, place bets, and receive payouts through cryptocurrencies like Bitcoin, Litecoin, and Ethereum, as well as traditional payment methods like credit cards and ACH transfers.
In June 2023, ZenSports expanded its operations to the US by launching its traditional sportsbook in Tennessee. The company aims to introduce its peer-to-peer betting marketplace in the state later in the year, pending regulatory approval. ZenSports has also sought licenses in Nevada, Virginia, and Colorado, showcasing its ambition to establish a nationwide presence in the rapidly growing sports betting market.
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