- ZenSports has received $1.4 million in seed funding after a round of investing and now looks to bring its platform to the US
- The company is now focused on getting its gaming license approved in Nevada and gearing up to buy casinos and operate sportsbooks around the state.
- ZenSports will also look to enter many more states’ market as it expands in the US
RENO, Nev. – The peer-to-peer sports betting marketplace ZenSports has acquired $1.4 million in new investments as it works to expand to the US market starting in Nevada.
The round of investment funding which happened in the midst of the coronavirus pandemic has shown many investors are driving to online gaming and sports betting companies rapidly. LAUNCH, led by tech entrepreneur Jason Calacanis, and Cube Magic Gaming were amongst the investors of the company.
There have been over 25,000 wagers placed through the ZenSports app and over $12 million of handles made in the year and a half that the company has operated internationally.
Now that the round of funding is over the company is looking to get its Nevada gaming licenses approved and grow in the U.S. legal sports betting market.
ZenSports recently announced it gained an option to buy the BIg Wheel Casino in Lovelock, which is 100 miles northeast of Reno, through a deal with Strategic Gaming Management (SGM).
With this deal, the company is also able to operate the SGM-owned Baldini’s Sports Casino sportsbook in Sparks.
However, one of the biggest issues will come from the registration for the online gaming platform. Unlike in other states with legal sports betting, Nevada still requires bettors to register for their account in person, potentially causing an issue for ZenSports.
Still, their mindset is simple – head to a place that is easily accessible. In Nevada, that means Las Vegas is likely the key to their success.
ZenSports is also working on expanding to other states in the country with its plans to enter a joint venture in Cripple Creek, Colorado to get a new casino.
Further than Colorado, the company has its eyes set on the states that plan to start “online-only” betting markets such as Tennessee and Virginia. Tribal gaming states including Arizona and Oklahoma are other states that ZenSports hope to bring its platform to.
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News tags: Colorado | Cube Magic Gaming | Jason Calacanis | LAUNCH | Mark Thomas | Nevada | Tennessee | Virginia | ZenSports
Adia has a background in sports writing and strives to provide content that gives the readers accurate information. As a storyteller, she also works hard to create stories that are engaging to the audience. Whenever she’s not writing on sports betting news, she is getting her heart broken by every sports team in Georgia.