ZenSports Launches Parlays to Allow Players Additional Ways to Bet

WEST HOLLYWOOD, Calif., April 28, 2021 /PRNewswire/ -- ZenSports, the mobile sports betting app that offers more choices to the next generation of sports bettors compared to any other platform, has just announced today the launch of Parlay Cards. With the launch of Parlays, customers are now able to combine more than one bet from the same day into a Parlay Card and have the odds multiplied for higher payouts.

How Parlays Work
Parlays allow bettors to combine multiple bets into one bet or "Parlay Card," whereby, if all of the individual bets within a Parlay Card win, the customer wins the Parlay but, even if just one bet loses, the entire Parlay Card loses. To compensate for this higher risk, Parlay Cards pay out a much higher odds multiple than the traditional odds that can be found with only individual bets.

For example, if the expected outcome of one individual even money bet is 1 in 2 (+100 in American odds or 2.00 in Decimal odds), then the odds of getting two separate individual bets both correct would be 1 in 4 (1 divided by 2 times 2), or +300 in American Odds (4.00 in Decimal Odds). So instead of getting paid even money on a bet, the bettor receives three times the wager in winnings (plus the original wager). Harder to win, but higher payout if the Parlay wins.

Parlays Represent a Large Segment of the Betting Market
According to ZenSports co-founder and CEO Mark Thomas, "Parlays represent not only a fun option for sports bettors, but Parlays also give them a chance to hit a much higher payday. From our perspective as an operator, Parlays are a large and growing segment of the sports betting market, which increases handle (betting volume). The hold (profit) on Parlays is also much higher than it is with traditional/individual bets, so Parlays provide more revenue to operators like ZenSports than what individual bets do. This is important as we look to grow as a company."

The typical hold (profit) for individual bets is between 5% and 7%. The typical hold for Parlays ranges from 13% to 30%.

Continuing to Be the Platform of Choice
Adding Parlays is yet another example of how ZenSports is all about offering customers the most amount of choice when it comes to their betting. With ZenSports, customers can choose to bet against the house or create their own bets with their own odds and terms (peer-to-peer). Peer-to-peer bets can be shared with friends or anonymously via the app's mobile marketplace, all without the need for a bookmaker and all right from their phone.

ZenSports also offers more options for how sports bettors can fund their accounts and which currencies they can wager in. Funding can take place using traditional fiat methods, such as debit/credit cards and wire transfers, as well as a variety of cryptocurrency options, such as the crypto form of Dollars (Tether), Bitcoin, and ZenSports' proprietary token called SPORTS.

Now with Parlays, customers can choose to make individual wagers or place multiple bets under the same Parlay Card.

"As we expand our platform, we want to continue offering sports betting customers the most number of options within a clean and simple interface compared to the competition," said Thomas. "Our launch of Parlays today helps us continue on this mission."

All Parlay bets will be administered under ZenSports' own book, and only in its current countries of operation.

ZenSports is available for download in the App Store (iOS) and the ZenSports website (Android or Web).

For press inquiries, please contact:
ZenSports
Mark Thomas
[email protected] 
LinkedIn

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SOURCE ZenSports

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