Mark Thomas, co-founder and CEO of ZenSports (zensports.com), provides a detailed overview of their groundbreaking new sports betting platform.
Thomas is a savvy technology entrepreneur and the enthusiastic CEO of ZenSports, an exciting new peer-to-peer, decentralized sports betting marketplace that utilizes modern cryptocurrencies and blockchain. Thomas has extensive experience in the tech space, notably as an original co-founder and CEO of Reesio, a top venture-backed startup in real estate technology that was successfully launched then subsequently acquired by News Corp’s Realtor.com. Additionally, Thomas founded Thomas Executive Resources, a recruiting agency that flourished, which he later sold in 2008. Thomas currently owns and operates a diverse real estate investment company as well: Mark Thomas Realty Holdings. Self described as a serial entrepreneur, Thomas is passionate about startups, tech, investing, and real estate.
He brings many skills to the table as CEO of ZenSports, including executive leadership and business development, marketing, product management, recruiting, and finance. He has successfully worked with many venture capitalists and angel investors and is well versed in strategic planning.
Thomas discusses his background and motivation for entering the blockchain and cryptocurrency arena. His interest in advancing tech, and sports, pushed him to launch ZenSports, which as he describes was a meetup recreational sports app in which users could meet and play sports for money. As Thomas became more interested in the expanding cryptocurrency market, and he began investing, he was intrigued and wanted to dive deeper into the emerging digital financial and blockchain space. He saw a way to weed out the middlemen through decentralization in the sports industry. Thomas decided to utilize blockchain to create a better world within the sports industry, one that was more open to everyone. They set out to develop a better sports betting product utilizing blockchain and cryptocurrency to weed out the middlemen and bookmakers and keep it focused on users and the action. The platform puts betters in control of their action, in control of the bets they want to place, directly and immediately. ZenSports offers peer-to-peer sports betting in an active marketplace in which anyone can create and accept sports bets with anyone else in the entire world, with bookmakers no longer needed or necessary.
The technology guru details the workings of their platform—how the system functions and operates. As he explains, users of the platform can input the kind of bet they want to place and the platform will match them up with those in the network who are willing to take that bet. When a match is made, the platform will lock them into a contract so the bet is secured and official, so neither side can back out of the bet, etc. Additionally, makers of the bets are responsible for submitting the results of the bets. Their system involves a created token economy that can sit a small escrow fee aside, and in case the results submitted are incorrect, the taker of the bet can dispute those results. Disputes are settled in the marketplace as all other betters vote on what the actual outcome was. Thus the majority of the marketplace votes on the correct result, keeping the bets accurate and efficiently managing the system.
Thomas talks about the other betting platforms in the market. He states that what sets ZenSports apart from the pack is that they are truly focused on traditional sports betting, their platform is 100% peer-to-peer, and their system is completely decentralized via the use of cryptocurrency and blockchain. While other competitors are doing some of these things, no one else is really mastering all three the way ZenSports has, which gives them a competitive edge and opens their platform up to more action in the biggest market of all.
The sports betting aficionado gets specific about their platform’s details and the minutiae of how users can configure it to really work for them in an exciting way. He states that in the truest sense, ZenSports is really a matchmaker, matching people who have similar interests in sports betting who want to bet and enjoy the process. Thomas talks about some of the new developments that are on the horizon for ZenSports. He says they are working on their cryptocurrency token, to streamline transactions and keep it simple to use. Additionally, they are adding more and more sports and leagues to their app, as well as new features nearly weekly. Thomas states that they are constantly doing user testing so the product they deliver is not only thoroughly enjoyable but also top of the line and tested for success and precision. Easy and fun is what it is all about, and Thomas is pleased to bring the ZenSports platform to sports lovers everywhere.