ZenSports is seeking to bring cryptocurrency technologies to the forefront of sports betting, with the launch of its new ZenSports for Businesses product suite.
It comes as the firm seeks to elevate its current offering, which is limited to selling directly to consumers through its peer-to-peer sports betting business.
The firm outlined that as a decentralized marketplace for sports betting, it is aiming to eliminate the need for a bookmaker altogether, and giving bettors a cheaper, faster, and more trustworthy process for wagering on sports.
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.
Thomas stated: “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.”
He added: “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.”
Underlining the popularity and potential of Sports as a betting currency, ZenSports revealed that since launching its SPORTS token in July 2019, the majority of its bets within the app have been made using SPORTS, even though the company also offers the ability to bet in dollars or Bitcoin.