USA, California
Market: Internet and IT
Project stage: Operating business
Also this project:
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Find investments
- Participate in the Unicorn Battle
Idea or High Level Concept
ZenSports 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 bookmaker.
Bettors can easily fund their accounts right from their phone, and can create their OWN bets with their own odds and terms that others in the marketplace will accept. This gives bettors a cheaper, faster, and more trustworthy process for wagering on sports than traditional online sports books offer.
ZenSports is the only native mobile app that offers peer-to-peer sports betting on both the App Store and Play Store.
Territory of the product or service implementation
Europe, South America, Asia, Africa, Australia and Oceania
Problem or Opportunity
Traditional sports bookmakers come with outdated technology, high fees, lack of trust and transparency, and a huge conflict of interest (because they only make money when YOU lose). The ultimate definition of a middleman is a bookmaker, and ZenSports is disrupting this centuries old model.
Solution
ZenSports is a peer-to-peer sports betting marketplace where anyone can create and accept sports bets with anyone else in the world.
Bettors can easily fund their accounts right from their phone, and can create their OWN bets with their own odds and terms that others in the marketplace will accept. This gives bettors a cheaper, faster, and more trustworthy process for wagering on sports than traditional online sports books offer.
ZenSports is the only native mobile app that offers peer-to-peer sports betting on both the App Store and Play Store.
Customer Segments and Market
Our customers fall into 3 demographic buckets:
1) Professional or semi-professional sports bettors that have $5,000+ per month in betting volume.
2) Semi-casual sports bettors that have between $1,000-$4,999 per month in betting volume.
3) Very casual sports bettors that have less than $1,000 per month in betting volume.
Revenue Streams and Cost Structure
ZenSports takes an average fee of 3% from the total betting volume in our app.
Business Model, Chanells, Metrics
ZenSports takes an average fee of 3% from the total betting volume of all customers in our app.
Competitors and Existing Alternatives
Our competitors are traditional online bookmakers like Bovada and William Hill.
Advantages or differentiators
We are better than the competition because we offer a truly mobile peer-to-peer platform that eliminates the bookmaker, charges lower fees, is more transparent and free of conflicts of interest, and uses cryptocurrencies and blockchain to create a more seamless betting experience.
Risks
The biggest risks we face are the same risks that all startups face -- namely being able to execute and grow quickly.
Incubation/Acceleration programs accomplishment
Acceleprise
Won the competition and other awards
The winner of The Startup Conference pitch event.
Presence of invention or patent
No
Money will be spent on
Marketing, additional gaming/sports betting licenses, and continued product development.
Offer for investor
We are raising this round of funding on a $4.75M pre-money valuation using a SAFE. Investors also have the option instead of purchasing our security token instead of equity.
