The Nevada Gaming Commission is seen likely to approve the West Hollywood startup ZenSports to operate Big Wheel Casino in Lovelock, where, as operator of Baldini’s Sports Casino in Sparks, it hopes to offer peer-to-peer sports betting and accept cryptocurrency.
Currently peer-to-peer sports betting and cryptocurrency are not permitted in Nevada.
ZenSports CEO and founder Mark Thomas told CDC Gaming Reports, “This industry has had a lot of large incumbents for a long time,” adding, “I think it’s ripe for disruption and I think a startup like us is a perfect company to come along and do that and make some waves.”
ZenSports launched in Europe in 2019 but this year Thomas decided to focus exclusively on the U.S. market.
Thomas added that he is eyeing other properties in Nevada, “We have plans to go into a lot of casinos and take over their sportsbooks,” He said. “We believe the appetite of casino owners is in our favor, because they want something fresh, a better look and feel, and better customer service. We believe we can come in and take over a lot of locations in Nevada, including in Las Vegas.”
He plans to raise “millions and millions” next year for Nevada sportsbook expansion.” He expects to put the pedal to the medal on those efforts once the company is licensed and its app is certified.
Where the company will stand out from the herd is through peer-to-peer betting and encouraging customers to fund their accounts with Bitcoin and other cryptocurrency. It hopes to get the regulatory approval for this sometime next year. “That would really differentiate us at some point in the future,” he told CDC Gaming Reports.
This is done in Europe but not yet in America but he counts on its appeal to Millennials and Gen Z’rs, who, he said, “want a choice.” The appeal is that the house charges the bettor a lower fee than traditional sportsbook operators.
This is a controversial idea among some analysts who say it might not work unless the Justice Department interprets the Wire Act to allow sports betting across state lines.
Thomas sees even more upward potential for bringing cryptocurrency into the game and believes it will expand the market. That too, would require changing the law among multiple jurisdictions.
