Traditional bookmakers charge fees of about 9.1% to place bets with them. Often these fees are disguised simply “as part of the bet”, and so bettors don’t realize the fees that bookmakers end up taking from them. For example, traditional bookmakers will require you bet $110 to win $100 on an even-money bet, thereby disguising a 9.1% fee without you even knowing it.

ZenSports believes in both full transparency and in charging reduced fees compared to traditional bookmakers. That’s why we only charge 2% to Makers to create a bet, and 4% to Takers to accept a bet, and we clearly separate out these fees as a separate line item on the Transactions List screen within the app for full transparency. So you know exactly at all times what you’re betting, what you’re winning, and what you’re paying in fees.

How Fees Work

Makers

  1. When a Maker creates a bet, the amount of the bet plus a 2% betting fee will be deducted from the Maker's Available Balance (in addition, a temporary 10% escrow fee for potential disputes will be deducted from the Maker’s Available Balance -- see Responsibilities, Penalties, & Rewards As A Decentralized Betting System).
  2. If the Maker edits a bet and changes the bet amount, the difference in the 2% betting fee compared to the previous amount is either debited or credited (depending on whether the bet amount was increased or decreased).
  3. If the Maker deletes a bet, the full 2% betting fee is refunded.
  4. If the Maker closes out a bet to new Takers, the pro-rated amount of the 2% betting fee of the unaccepted amount is refunded.
  5. If a bet is only partially accepted by Takers by the time the betting event starts, the pro-rated amount of the 2% betting fee of the unaccepted amount is refunded.
  6. If a bet wasn't accepted by any Takers by the time the betting event starts, the full 2% betting fee is refunded.

Takers

  1. When a Taker accepts a bet, the amount of the bet plus a 4% betting fee will be deducted from the Taker's Available Balance. 

Ties and Postponed/Cancelled Events

  1. In the case of a Tie outcome, both the Maker and Taker will receive the original amount of their bet back 24 hours after the Maker submits results (assuming no dispute by the Taker). The original 2% Maker betting fee and 4% Taker betting fee charged by ZenSports will not be refunded in the instance of a Tie. 
  2. In the case of a Postponed/Cancelled event outcome, both the Maker and Taker will receive the original amount of their bet back 24 hours after the Maker submits results (assuming no dispute by the Taker). The original 2% Maker betting fee and 4% Taker betting fee charged by ZenSports will be refunded in the instance of a postponed/cancelled event.
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