ZenSports is a peer-to-peer, skill-based sports betting platform where anyone can create and accept sports with anyone else in the world, without the need for a centralized bookmaker. Because ZenSports is peer-to-peer and skill-based, a legal argument could be made that we don't need any gaming or sports betting licenses at all.
However, we've made the decision to comply with traditional sports betting laws and licensing requirements in all jurisdictions where we operate. There are two reasons for this:
- It eliminates all questions about whether we're legally allowed to operate in a specific jurisdiction.
- When there is a lack of liquidity/bets created within ZenSports for certain leagues, sports, and games in our platform, ZenSports will "fill in the gap" for these bets by adding bets under the ZenSports brand, thus effectively making us a traditional bookmaker in limited situations. We don't believe this is a long-term strategy, but it's critical in the early days of a marketplace (where a chicken and egg problem is prevalent) to provide sufficient liquidity to customers.
To be clear, ZenSports is still a decentralized, skill-based sports betting system, but again, there are instances where we need to step in during these early days to provide liquidity.
Licenses Held & Obtaining Soon
- We currently hold a Curacao Gaming License, which allows us to operate in several countries across the world. Click here to view our Curacao License Certificate.
- We will be obtaining an Isle of Man license in 2019, which has a reciprocation agreement with the U.K. With the U.K. being a big sports betting market, this is a top priority.
- We will be obtaining licenses across Africa in 2019.
- We will be obtaining licenses in at least a few of the states within the United States that have already legalized sports betting in 2019.
Even though we don't currently hold Isle of Man, UK, or African licenses, we are still operating our peer-to-peer platform in these jurisdictions. However, we are not market making any of our own bets in these areas.
The one country that we are not currently operating in at all is the United States. Any customers that create an account within the United States will be able to view our sports betting features, but are geo-restricted and completely blocked from depositing funds or placing any bets in our app. Since ZenSports is a mobile app only, we have the ability to do both an IP address as well as phone location verification to ensure that U.S. based residents are not able to place bets within ZenSports at all.
In addition to not operating at all in the United States, our iOS app is not available in the following countries due to Apple's policies:
Bahrain, Brazil, India, Jordan, Korea, Kuwait, Lebanon, Qatar, Saudi Arabia, Turkey, UAE, Yemen
Also see: Legal Entities Held by ZenSports