Tag Archives: zensports

ZenSports Launches New Product Suite for Sports Industry Businesses

ZenSports

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.”

ZenSports Closes Additional $770K+ in Seed Funding

It’s been a busy 12 months for 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.

After launching its sports betting app in March 2019, the fast-growing startup closed $675K in October 2019 as part of a broader $1M+ Seed Round. With its continued rapid growth, the startup started receiving inbound interest from additional angel investors in December 2019, and decided to open up a new round of funding to accommodate those interested investors. In just 10 weeks since then, the company syndicated and closed an additional $770K+ in funding across multiple angel investors.

Here’s how this new funding round played out according to ZenSports Co-Founder & CEO, Mark Thomas, “After officially closing our $1M+ Seed Round in October 2019, we felt more than comfortable that we had enough funding to execute on our growth strategy for 2020. However, we had numerous angel investors who approached us about putting more money into our company. We decided to offer a time-boxed raise without a target amount for these investors who approached us and shared our vision of how decentralized, peer-to-peer sports betting using cryptocurrencies was the future. We were fortunate to have a lot of choices in the investors we decided to ultimately bring on board, and we’re thrilled to be working with them as we continue to grow and scale ZenSports.”

ZenSports

The new funding will be heavily invested into paid customer acquisition channels. According to Thomas, “Up to this point, we haven’t spent any money on paid marketing to acquire new customers. Instead, we’ve focused on optimizing the post-customer acquisition and retention funnel through constant product iteration and via our SPORTS Rewards Program. We’ve got incredibly loyal customers who are very active on a daily basis in placing bets in our app. It’s now time to get very aggressive in growing our overall customer base via paid marketing.”

To help accomplish this, the company recently hired an experienced marketer, Mark Saldana, to become the company’s new Chief Marketing Officer. Mark brings a wealth of digital marketing experience to technology and consumer brands and will be an integral piece to the company’s revenue and growth plans.