KeyStar Corp. Receives Tennessee Sports Betting License
KeyStar's ZenSports platform approved by the Tennessee Sports Wagering Advisory Council to begin offering wagers in the State of Tennessee.
MIAMI, May 25, 2023 (Newswire.com) - KeyStar Corp® (OTC: KEYR) has announced that it has officially received a sports betting license to begin operating its sports wagering platform, ZenSports, in the State of Tennessee. The go-live date for ZenSports in Tennessee is set for early June.
The Tennessee Sports Wagering Advisory Council unanimously approved the decision 7-0.
ZenSports' mobile platform offers a traditional sports book where customers can bet against the house, as well as a peer-to-peer sports betting marketplace. With ZenSports' peer-to-peer marketplace, customers can create their own bets with their own odds and terms. Peer-to-peer bets can be shared with friends or via the app's mobile two-sided marketplace, right from their phone.
For now, KeyStar Corp. submitted its current sports betting license application in Tennessee just for its traditional sports book, but will be submitting an application for its peer-to-peer sports betting marketplace soon, and hopes to have that approved for operations in Tennessee by later this year.
"We are beyond thrilled to be approved for our sports betting license in Tennessee," according to KeySar CEO Mark Thomas. "The Tennessee sports betting market is one of the top 10 in the country, and the Tennessee Sports Wagering Advisory Council has been an absolute pleasure to work with these past 3+ months during our application process. This is an exciting time for both KeyStar and the sports betting community in Tennessee."
Tennessee will be the first state that ZenSports goes live in. KeyStar expects to gain early market share with its simple-to-use platform, 24/7 customer support team, instant processing of withdrawals, and robust bonus structure that other sports books don't offer.
"Initially, ZenSports will be able to gain market share with our unique product and customer experience, along with our loyalty and rewards programs," said Thomas. "After potential approval of our peer-to-peer sports betting platform later in 2023, we expect those P2P features will continue to set ZenSports apart from our competitors, and provide a unique offering to sports betting consumers in Tennessee that gives them the ability to create their own bets."
Tennessee processed $392.7M in sports betting handle and generated over $45.5M in revenue in March 2023 alone, consistently ranking Tennessee in the top 10 out of 36 states with legalized sports betting.
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Source: KeyStar Corp.