ZenSports Receives Nevada Approval
It has been almost a month since ZenSports was finally given licensing approval to offer legal sports betting in the United States.
There had been rumors for months about this taking place, but it didn’t happen in the state that was often included in those talks; Tennessee.
ZenSports applied for a sports betting license months ago in the state of Tennessee, but they will offer their services in Nevada first. This is a company that is more worried about and focused on technology, but it believes that sports betting will come naturally as well.
On August 19, the Nevada Gaming Commission officially ruled that ZenSports had done what was necessary to offer sports betting in that state. This came after much discussion and some questions about how sustainable this small-market operator will be in the state.
Mark Thomas is the CEO of ZenSports, and he spent several minutes answering some tough questions from the Nevada Gaming Commission. Thomas has some experience in issues such as these, but the answers that he provided should carry some weight in Tennessee as well.
There were some major questions asked of Thomas about the peer-to-peer wagering system that is offered by ZenSports, but his company only chose to apply as a traditional sportsbook in Nevada. ZenSports also allows for cryptocurrency to be used as a form of payment, but that isn’t going to be offered in Nevada either.
Tennessee Now the Main Focus
Now that ZenSports has officially received regulatory approval in the state of Nevada, the company will once again put its focus on Tennessee. ZenSports made it clear that they had hoped to break into the US in the Volunteer State, but the Tennessee Education Lottery has not yet made a decision on its application.
The company actually decided to pause its application in the state of Tennessee as the process became overwhelming in Nevada. Now that ZenSports has received one license, the goal is to receive a second by the end of 2021.
When ZenSports meets with the Tennessee Education Lottery, it will be seeking to offer peer-to-peer betting in Tennessee, and that could turn into another debate. Thomas has been outspoken in his belief that Tennessee will ultimately approve P2P betting, but ZenSports could simply just launch a traditional sportsbook as well.
At this time, ZenSports only has 14 employees on staff, and that number would have to increase if it is looking to offer betting in multiple states. Tennessee is a market that is obviously much smaller than Nevada, but there is already plenty of competition in the state.
The Sports Wagering Advisory Committee (SWAC) will be taking over as the leader of Tennessee sports betting on January 1, but ZenSports hopes to be approved by that time. There isn’t much time left for this to take place, but ZenSports is looking to ride the momentum.
Wyoming is the next target state for ZenSports, especially as that state does allow for cryptocurrency to be used as a form of payment.
Check back for more TN sports betting updates and the latest sports news in The Volunteer State.
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