SAN FRANCISCO, April 16, 2020 /PRNewswire/ -- With almost all of the major sports leagues put on hold last month due to COVID-19, sports bettors have been left with very little to bet on. The team at ZenSports thinks that this is Esports' time.
Up until now, ZenSports has entirely focused its product on traditional sports betting for professional and collegiate live sporting events across 36 prominent worldwide sports leagues, as well as daily fantasy sports contests. According to ZenSports Co-Founder & CEO, Mark Thomas, "Since launching last year, we had our best month ever in February 2020, processing over $2.5M worth of bets in our platform. But then, of course, the bottom fell out last month when all of the major sports leagues postponed their matches due to COVID-19."
This meant that like other sports betting products, no more bets were flowing through the app as of mid-March. "It was certainly a challenging situation to be faced with last month," said Thomas. "But we're a scrappy, resourceful startup. Unlike larger companies that would have a tough time of adjusting, we were able to move quickly to stay relevant and continue offering our customers a great betting experience in our app."
Speaking to this startup mentality of being able to move quickly, ZenSports recently developed and launched in just 3 weeks a partnership with Prime Trust, LLC to begin offering fiat deposits and withdrawals in its app. And now in just 2 weeks' time, the company has built and launched Esports into its existing sports betting marketplace.
While the Esports betting market is currently a fraction of what traditional sports betting is, there's reason to believe that Esports betting is poised for major growth. As more people stay locked down due to COVID-19, the demand for at-home sports entertainment is expected to grow. Esports gives bettors the same live, reality TV style for sports that comes with traditional sporting events, without the risk of mass gatherings and crowds that the major sports leagues currently face.
To be clear, Thomas reiterated that this is not a pivot to Esports, but simply a new product offering for its customers. "Esports was already on our roadmap to add in Q4 of 2020. COVID-19 simply accelerated that timeline. We're confident that traditional sports leagues will return soon, and that, coupled with our new Esports offering, gives us a wide array of betting options for our customers."
ZenSports also plans on launching MMA, NASCAR, and additional soccer leagues in the coming weeks.
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