ZenSports Files for Tennessee Sports Betting License, Wants to Run ‘Peer-to-Peer’ Marketplace
ZenSports announced Fri forenoon that it has filed for a sports betting permit inward Tennessee, and the troupe said it’s seeking to offer both a traditional sportsbook and its “peer-to-peer” marketplace.
The company, founded by St. Mark Dylan Thomas and Etan Mizrahi-Shalom, has long sought to enter the US online sports betting market. KeyStar Corp. acquired ZenSports last-place October, and St. Thomas became the CEO of the Las Vegas-based accompany cobbler's last month.
Tennessee is the perfect 1st tell for us to set in motion ZenSports in,” St. Thomas posted inward a blog stake on KeyStar’s website Friday. “Tennessee has demonstrated important technology innovation and is single of the fastest growing states for sports wagering.”
The applications programme is case to the favorable reception of the TN Sports Wagering Advisory Council (SWAC).
ZenSports has been licensed inward Nevada since August 2021 and operates sportsbooks in that state. However, that was not portion of KeyStar’s acquisition. Before receiving that certify inwards Nevada, ZenSports had operated internationally through a permit it has inwards Curacao.
What is ZenSports
ZenSports was ab initio created in 2016 as a way of life for people to feel others interested in playing recreational games and sports. However, shortly after the US Supreme Margaret Court overturned PASPA, the accompany moved into the sports betting realm. Prior to existence acquired, ZenSports was backed by $10 1000000 in stake funding.
The commonwealth has been a point for ZenSports for more than 2 years, and it did go for for a certify inward Tennessee River inward Nov. 2020. However, Lowell Jackson Thomas said the companionship assign that licence diligence on throw as it focused on obtaining the Nevada license.
Its “peer-to-peer” market is similar to a sports betting exchange, but ZenSports customers can make their odds and terms. They tin portion out those tradition wagers with friends or offer up them online through the ZenSports peregrine app. That app is available for both Apple and Android devices.
The sportsbook also is interested inwards pursuing opportunities that would grant bettors to wager using cryptocurrencies. It has created its have crypto token called SPORTS for employment on its site.
About Volunteer State Sports Betting
Tennessee is only when commonwealth inwards the US that legalized just now online sports betting. No retail sportsbooks or casinos run inwards the state.
There are currently 11 fighting(a) operators inwards the state. Those are Bally Bet, Barstool Sportsbook, Betly, BetMGM, Caesars Sportsbook, DraftKings, FanDuel, Hard John Rock Sportsbook, SuperBook Sportsbook, Tennessee River Action 24/7, and WynnBET. Two others get licenses, but Fubo Sportsbook has been discontinued, and Wagr, according to the SWAC website, has taken its sportsbook offline “to get along some technical reintegration act necessary to go along expanding its wagering offerings” and plans to continue its license.
Tennessee bettors wagered more than $3.85 billion on sports in conclusion year, according to information on the SWAC site. That was fueled by threesome consecutive months of record handles to end the year. In December, the sportsbooks took $440.4 million in wagers and received $46.5 meg in revenue.
The SWAC does non get out land financial information past operator, but it reported that licensed sportsbooks received $339.6 one thousand thousand in familiarised receipts income inwards 2022. TN taxed that at 20%, meaning it received to a greater extent than $68 million. That money goes toward education, substructure projects, and responsible for(p) gaming programs.
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