Transactions Types for ZenSports
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When It Goes Out
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Transaction TypeWhat It MeansDebitCredit
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DepositCustomer deposits funds into their ZenSports account.N/AWhen a customer's deposit has been successfully processed.
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WithdrawalCustomer withdraws funds from their ZenSports account.When a customer submits a withdrawal request of at least $5.N/A
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Bet CreatedOriginal bet amount from the Maker.When the Maker creates a bet.N/A
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Maker Dispute Escrow Fee10% escrow fee witheld from Maker in case the Taker disputes Maker's results.When the Maker creates bet.If the Taker is marked as winner, or if no dispute is submitted 24 hours after Maker submits results, a credit for this amount goes back to the Maker. If any portion of the bet goes unfilled, the pro-rated amount of this fee gets refunded back to the Maker when the event starts.
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Bet AcceptedAccepted bet amount by the Taker.When the Taker accepts a bet.N/A
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Taker Dispute Escrow Fee5% escrow fee witheld from Taker if they submit a dispute.When the Taker submits a dispute.N/A
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Betting Fee2% fee charged to the Maker; 4% fee charged to the Taker.When Maker creates bet; when Taker accepts bet.2% refunded to the Maker (pro-rated or full amount) if the bet is updated, expired, unfilled, deleted, or closed, or if the event is postponed/cancelled; 4% refunded to Taker only if the event is postponed/cancelled.
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Update <Transaction Type>When a Maker EDITS a bet, Update <Transaction Type> is used to indicate that a bet was edited by the Maker. For example, "Update Bet Amount" indicates that a Maker edited a bet, and a debit/credit is issued to account for the difference in bet amount.Maker increases the bet amount when editing the bet amount. Maker decreases the bet amount when editing the bet amount.
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Bet ExpiredIf the ENTIRE amount of the Maker's bet goes unfilled and where the bet expires due to the start of the event.N/ARefund of the entire bet amount goes to Maker once bet is expired (i.e. when the event starts).
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Maker Bet UnfilledIf a Maker's bet is PARTIALLY accepted by one or more Takers, the portion of a Maker's original bet that doesn't get accepted and where the bet expires due to the start of the event.N/A.Refund of the unfilled bet amount goes to Maker once bet is expired (i.e. when the event starts)
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Bet DeletedIf the ENTIRE amount of the Maker's bet goes unfilled and where the Maker deletes the bet.N/ARefund of the entire bet amount goes to Maker once bet is deleted.
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Maker Bet ClosedIf a bet is PARTIALLY accepted, the portion of a Maker's original bet that doesn't get accepted and where the Maker manually closes out the bet.N/ARefund of unfilled bet amount goes to Maker once bet is closed (i.e. when the Maker closes it).
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Bet WonPayout to the Maker or Taker for a bet that is won - includes original bet amount plus winnings.N/AIf Taker is marked as the winner, this goes out immediately; if the Maker is marked as the winner, this goes out to the Maker 24 hours after the Maker submits results (assuming no dispute).
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Bet TiedPayout to the Maker and Taker for a tied bet.N/ATo both the Maker and Taker 24 hours after the Maker submits results (assuming no dispute).
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Event Postponed/CancelledPayout to the Maker and Taker for a bet where the event was postponed or cancelled.N/ATo both the Maker and Taker 24 hours after the Maker submits results (assuming no dispute).
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