ZenSports is a peer-to-peer marketplace, built on the ICON protocol, that lets anyone around the world accept or create sports bets. There is no need to use a centralized bookkeeper since everything is handled via the platform using Smart Contracts.
With ZenSports, you can create bets with your chosen terms and wait for others to accept them. Thanks to the use of ZenSports, it is possible for anyone to “become a bookmaker” without the need to get a gaming license.
ZenSports is a decentralized platform that uses smart contracts. It is built on the protocol from ICON that allows for a trustless system. The marketplace settles any disputes that arise in addition to the bet results.
The ZenSports token economy uses the SPORT token, which streamlines the rewards, penalties, payments, bets, and funding processes.
How Does ZenSports Work?
If you want to place a sports bet on your own terms, you can create a bet with those specific terms and wait to see if someone else accepts it. Due to the size of the platform, there is a good chance that your bet will be accepted, provided it has reasonable terms, with the chances increasing as the platform grows. Alternatively, you can look at the existing bets that other ZenSports users have created. If you see one that you like the terms of, go ahead and tap a few buttons to accept their terms. Due to the uniqueness of the marketplace and the varied interests of users, ZenSports makes it possible to find bets that you would never find in a traditional sportsbook.
The maker of the bet is the person who will submit the results of that bet. Takers can dispute the results if the maker was not honest or if there is a disagreement. The marketplace then votes on the disputed results, with the token economy incentivizing every single party to act honestly and in good faith.
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.
The token allocation includes 1 percent of tokens given to each the PreSeed Round First Tranche and Second Tranche. In addition, 50 percent is allocated to the ICO sale and 17 percent to the founders, advisors, equity holders, and employees. Another 4 percent of tokens is distributed to ICO marketing, such as bounties and airdrops, and the final 27 percent is held in reserve.
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.
During Tranche 1, from Dec. 1 to 9, there is a 60 percent bonus with SPORT prices at $0.0024. During Tranche 2, from Dec. 10 to 18, there is a 33 percent bonus, leading to a price of $0.004 per SPORT. Tranche 3 is from Dec. 19 to 27 with a 17 percent bonus for a price of $.005 per SPORT. Finally, there is no bonus during Tranche 4, which is from Dec. 28 to Jan. 5, and a price of $0.006 per SPORT.
As mentioned, you can earn passive income just by holding the tokens. Since ZenSports is a centralized marketplace, 100 percent of the betting fees that the platform collects are remitted back to the token holders. These fees are paid based on the overall percentage of SPORT tokens owned with payments once each month.
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.
While the product from ZenSports is already fully functional and available on both Android and Apple devices, the team is still working to expand availability across multiple jurisdictions. At the moment, you can only use the betting platform outside of Canada, the United States, and Europe. ZenSports is working to get licenses for those jurisdictions, so you should expect expanded availability in the future.
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.
Q1 2019 will also feature the integration of SPORT and smart contracts into the platform. Meanwhile, Q2 will feature a design refresh for the user experience and interface.
ZenSports is a peer-to-peer marketplace for betting on sports where users get to choose an existing bet to accept or create their own that other community members can then accept. The marketplace is decentralized, and those who hold SPORT tokens earn passive income via a percentage of the betting fees.
The ZenSports token sale is currently underway.