ZenSports Market Research Report

Overview

ZenSports, operating under the KeyStar Corp. brand, is a leading mobile sports betting platform headquartered in Miami, Florida. The platform innovatively merges traditional sportsbook offerings with a peer-to-peer betting marketplace, accessible globally through a dedicated mobile app. It features extensive options including eSports, digital currency integration, and a comprehensive suite of customer rewards and bonuses, such as a VIP program.

Acquisition

On October 10, 2022, ZenSports was acquired by KeyStar Corp., a strategic move to expand into Decentralized Finance (DeFi) and entertainment sectors. This acquisition aims to leverage the leadership team’s decades of expertise in the industry to foster innovation within the sports betting market.

Financials and Reach

ZenSports generates an annual revenue of approximately $375,000 and employs 23 people. Holding a sports betting license in Tennessee, the platform requires users to be at least 21 years old and located in the state to place bets.

Leadership Team

Mark Thomas: Co-Founder and CEO until October 31, 2023, now in a consulting role. He played a critical role in product development and strategic initiatives.

Etan Mizrahi-Shalom: Co-Founder & CTO, overseeing backend development and technical strategy.

John Dulay: Chief Operations Officer, responsible for operational management. He co-founded Reesio with Mark Thomas.

Daniel Ayisi: Chief Customer Success Officer, leading customer support and engagement strategies.

Strategic Partnerships

ZenSports has partnered with U.S. Integrity to ensure a secure and transparent marketplace, enhancing the reliability of their betting services.

Product and Market Positioning

ZenSports sets itself apart through innovative betting solutions, including referral bonuses and profit boosts that resonate with the betting community. The platform focuses heavily on user experience, allowing seamless creation, acceptance, and management of bets. Initiatives like the ZenSports Podcast Network and participation in tech summits emphasize their dedication to audience expansion and market growth. The company adheres strictly to gambling regulations to empower a new generation of sports bettors.

Key Competitors and Market Position

ZenSports operates in a competitive sports betting and gaming landscape, offering various betting options, including football, tennis, hockey, athletics, baseball, and horse racing. Its main competitors are Betway, BetOnline, Cloudbet, and BetMGM.

Competitor Details

1. Betway

Industry: Sports Betting, Casino, Bingo, Poker

Founded: 2006

Headquarters: Gzira

Revenue: $62.3 million

Employees: Approximately 800

Parent Company: Part of Super Group, listed on the NYSE

2. BetOnline

Industry: Online Gambling

Founded: 2001

Headquarters: Panama City, Panama

Key People: Eddie Robbins III, CEO

Known for integrating Bitcoin and innovative wagering experiences.

3. Cloudbet

Industry: Crypto-based Gambling

Founded: 2013

Headquarters: Willemstad

Employees: Approximately 35

Strategy: Pioneering crypto betting with an emphasis on player privacy.

4. BetMGM

Industry: Sports Betting and Online Gaming

Founded: 2018

Headquarters: Jersey City, New Jersey

Backed by a partnership between MGM Resorts International and Entain Plc.

Financial Overview

ZenSports holds an annual revenue of approximately $4 million and employs 31 people, indicating room for growth in revenue and workforce in comparison with its competitors.

Competitive Strategy and Position

Operating in an evolving sector with technological integration, ZenSports is well-placed to innovate by understanding competitor strategies. This includes the use of cryptocurrency by BetOnline and Cloudbet's blockchain privacy measures. By staying up to date on industry regulations and leveraging technology akin to industry leaders like BetMGM, ZenSports can fortify its market standing in the sports betting landscape.