ZenSports allows you to bet on sports within our app using either SPORTS utility tokens, Bitcoin, or USD (Dollars). More on the creation of our SPORTS utility token and what it represents can be found HERE.
What's important to understand when choosing which currency to bet on within ZenSports is that each currency essentially represents a different marketplace within our app. This means that bets created in SPORTS by the Maker must be accepted in SPORTS by the Taker, bets created in Bitcoin by the Maker must be accepted in Bitcoin by the Taker, etc. You can't accept a bet using Bitcoin that was created in SPORTS, etc.
When you deposit funds into ZenSports, you have the ability to deposit either SPORTS utility tokens, Bitcoin, USD via USTD (Tether) or fiat (debit cards and wire transfers). The funds for SPORTS and Bitcoin are separated into different wallets within ZenSports, and USDT plus fiat are separated into a USD wallet. This allows for easy management and betting with those funds.
Betting with SPORTS tokens
Betting in SPORTS tokens gives you the best opportunity to earn rewards via our SPORTS Rewards Program. Through our SPORTS Rewards Program, you'll be able to earn discounted betting fees, cash back bonuses, referral bonuses, infrequent withdrawal bonuses, and other special promotions that you can't earn when betting in Bitcoin or USD.
IMPORTANT NOTE: ZenSports has a 50% rollover requirement on all SPORTS tokens deposits and exchanges into SPORTS before you can withdraw SPORTS or exchange out of SPORTS. This means once you deposit SPORTS tokens or exchange into SPORTS tokens, you must wager at least 50% of your SPORTS Available Balance before you can withdraw or exchange out of those SPORTS tokens. There are legal reasons tied to the utility status of the SPORTS token as to why this requirement exists.
The 50% rollover requirement can not be waived under any circumstances, so be sure you're comfortable with that before making a SPORTS deposit or exchanging into SPORTS.
You'll be prompted with the following confirmation pop-up prior to making a deposit in SPORTS tokens:
Trading SPORTS tokens and exchange rate
SPORTS tokens can be purchased on our Trading Exchange in the ZenSports app. The exchange rate of SPORTS that you'll see within ZenSports is based on the exchange rate in our app.
Please note that SPORTS is not a stable coin -- it's not pegged to USD, Tether, or any other stable coin. It fluctuates based on the current market price that is traded within our app and on P2PB2B. ZenSports does not control the price of SPORTS in any way, shape, or form.
If you're really concerned about the fluctuating price of SPORTS tokens, we do offer the ability to bet in USD or Bitcoin. That way, you don't have to worry about the fluctuating price of SPORTS tokens. However, you will not earn any kind of rewards when betting with USD or Bitcoin in comparison to SPORTS tokens. So there is a tradeoff, and ultimately, you're the one that will need to make that decision.
Here are all of the amazing discounts, rewards, and other perks that you get by betting with SPORTS tokens:
- Save between 1.5% and 2.5% on betting fees by betting with SPORTS tokens.
- Receive up to 2% cash back on your entire betting volume when betting with SPORTS tokens.
- Earn up to 0.5% cash back based on your betting volume when you make infrequent withdrawals within ZenSports.
- Earn 1% of the betting volume for any friends and colleagues that you refer to ZenSports.
- Eligibility for other discounts and promotions that we offer.
You can find out more details about all of the discounts, perks, and other rewards that you get for betting with SPORTS by going to the "SPORTS Rewards Program" screen within the Funds screen in the ZenSports app. More info can also be found at:
Betting with BTC or USD
Betting in Bitcoin or USD is available for those customers that don't want to bet in SPORTS tokens or don't care about earning discounts and rewards from the SPORTS Rewards Program.
Please note that you'll pay much higher betting fees when betting with BTC or USD.
There is no rollover requirement for deposits or exchanges into Bitcoin or USD.