The information below has been provided as of May 25, 2019 and is subject to be updated at any point in time by ZenSports. All ZenSports customers are responsible for understanding this content at all times.
ZenSports' goal is full decentralization of sports betting, whereby ZenSports never gets in the middle of making/taking bets or resolving disputes. However, the reality is is that marketplace businesses such as ZenSports often require a centralized party to "seed" the marketplace in order to get the fly wheel going so that customers don't come into the marketplace and find a graveyard with no sports bets, or no ecosystem for resolving bets. This is where the term "Market Maker" comes from.
As such, until some point in time in the future where the ZenSports marketplace is able to fully run on its own balance of Makers and Takers, there are 2 components that ZenSports must be involved with in order to scale our marketplace to the masses:
- Market Making of its own bets -- When there is a lack of liquidity/bets created by Maker customers within ZenSports for certain leagues, sports, games, and seasons, ZenSports will “fill in the gap” for these bets by adding our own bets under the ZenSports brand. Which means there are times when you as the Taker may be accepting a bet created by ZenSports instead of a fellow Maker within the marketplace.
- Resolving disputes that come up -- At some point in the future, ZenSports will be building its own Voting Marketplace for resolving disputes, whereby those that own enough SPORT tokens and that meet other criteria will be able to resolve disputes that arise within the ZenSports marketplace. More info on this can be found in our Token Economics deck. Until the ecosystem is fully built, however, ZenSports' internal team is currently responsible for resolving all disputes. With disputes being a few and far between occurrence (there have only been 2 disputes to date out of over 5,000 bets accepted), we find this to be an acceptable policy.