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, or USD (Dollars), and the funds from each of those currencies are separated into different wallets within ZenSports for easy management and betting with those funds.
Which currency option should you choose when betting?
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:
SPORTS tokens can be purchased on Dcoin exchange and then deposited into ZenSports using the "Deposit Funds" feature. Or SPORTS tokens can be purchased through the "Exchange Funds" feature within ZenSports for a 5% convenience fee. The exchange rate of SPORTS that you'll see within ZenSports is based on the spot exchange rate on Dcoin. The exchange rate of SPORTS is not fixed, nor is SPORTS a stable coin.
Bitcoin 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. A summary of the discounts and rewards that you'll be missing out on by betting with Bitcoin or USD can be found HERE.
There is no rollover requirement for deposits or exchanges into Bitcoin or USD.