overview
category
Category
Sports Betting
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Funding Target
20,000,000 USD
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Dates
Private: 2018.05
Public: 2018.09
Token Distribution

ICON Decentralized Applications

ZenSports

ZenSports is creating the world’s largest peer-to-peer sports betting marketplace, where anyone can create and accept bets for live sporting events with anyone else in the world.

Key Highlights
  • Sports betting is a $120B worldwide industry; projected to grow to $300B in 5 years.
  • ZenSports’ mobile sports app gives us a competitive advantage in creating the largest peer-topeer betting network that uses crypto, smart contracts, and blockchain.
How are you disrupting status quo with blockchain?

There are 2 major problems with traditional online sports books today :

  1. Outdated payment systems that result in high fees, long time delays, and potential fraud when funding accounts.
  2. Limited bets being offered that are decidedly stacked in the favor of the sports book in order to generate the most fees and revenue possible.

ZenSports is solving these problems via blockchain and smart contract technologies. By allowing users to place bets via cryptocurrencies, ZenSports reduces most of the initial fees and time delays when funding an account. Through the use of smart contracts that act as an escrow for these funds, bettors can feel confident that their funds are always safe.

ZenSports also makes it possible for bettors to make multiple, rapid bets in-game with other peers in the betting network, something which traditional sports books that rely on relic technologies can not offer. In addition, the types of bets that users can propose to the marketplace within ZenSports are limitless because of a token economy that provides incentives and a voting system for the network to self-police betting results.

Describe your token economy model

ZenSports will offer betting via ICX (ICON), and will use our own SPORT as the main mechanism for allowing users to do the following within the ZenSports marketplace:

- Pay commissions/fees on betting winnings.

- Receive rewards for voting on bets with disputed outcomes.

- Borrow funds to place bets on margin.

- Place bets if the user runs out of ICX (comes with higher fees).

ZenSports will use a combination of a decentralized platform for creating bets, reporting results, and settling disputes, along with a centralized system for customer support and other value-add services. This hybrid system will allow users to create bets where the outcomes are difficult to judge, while giving bettors confidence that there is a centralized support system should they run into any issues.

Team

Mark Thomas / Co-Founder & CEO

Ressio Co-Founder & CEO

Etan Mizrahi-Shalom / Co-Founder & CTO

Previously built sports handicapping system based on ELO system

CONTACT

Mark Thomas / mark@zensports.com