There has never been an instance of sports betting exchange within the United States. That might be coming to an end, real soon. ZenSports is a company that runs an international online exchange, and thanks to a deal with SGM, they have the option to now buy Big Wheel Casino, located in Lovelock, Nevada.
This would allow for betters to create a bet and then establish a limit for their own wagers. The exchange would then grab a small commission off of bets that are up to 90% less than what the normal sportsbooks would take.
The power to purchase a casino would give ZenSports a chance, legally, to get a license for sports betting exchange. In March, their co-founder Mark Thomas, told Casino.org that they needed to own or partner with a casino to make it happen. And that is exactly what the plan is.
Going Beyond Nevada
If the deal were to go through, ZenSports would then overtake the operations for Baldini’s sportsbooks, and the app would be no longer. It is yet to be seen, according to Thomas, if they are going to offer a traditional sportsbook to go hand-in-hand with the betting exchange.
Exchanges have been publicized as something that the US Market could use, as spoken within various social media circles. There are still questions and red flags about if one state could be sufficient for an exchange, though. This is a potentially large obstacle.
But Mark Thomas is personally confident that this won’t be an issue. “There was $5.3 billion wagered on sports in Nevada last year, with close to 50 percent of that wagered via mobile,” Thomas told Casino.org. “We expect to be able to gain a solid percentage of that business.”
His voice carries the most weight, so to hear his confidence in the matter is telling of where it may end up.
Colorado Joining the Fun?
Thomas also mentioned that ZenSports could be finding another state to go along with Nevada. They are working with another company as a piece of a joint venture for a brand new casino in Cripple Creek, Colorado.
This would enable them to pick up a license in a second state, and really rake in the business. Colorado has been a hotspot for sports betting in the last few years, and it would be fantastic for its business and long-term plan if this went over successfully.
More About ZenSports
ZenSports is still relatively new, launching under the current format they operate under in March of last year. There was initially a mobile app created by Mark Thomas, created for people looking to play recreational sports with others. They used blockchain technology to create an exchange after a Supreme Court overrule on PASPA.
They have had a partnership with Baldini’s for over a year now, with SGM CEO Grant Lincoln having served as an advisor to ZenSports since.
Lincoln is very excited about their future together, saying, “We’re excited to help give them an opportunity to expand into the Nevada market and make ZenSports a household name here.”
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