Esports betting has driven up the third quarter results for Canadian-based operator Rivalry.
The betting handle was CAD$70.3m, an all-time high, up 203 per cent on the previous year’s $23.2m and by 83 per cent on the second quarter of this year.
Revenue was $7.1m, another record, growing 93 per cent from $3.7m. Eighty-two percent of users at Rivalry are under the age of 30.
"The significant year-over-year and sequential growth we delivered is a testament to our market leadership in next generation sports betting and casino," said Steven Salz, co-founder and CEO of Rivalry. "Our customer base demonstrates our ability to engage a highly sought-after audience of Gen Z and Millennials in global markets, and further validates our overarching player acquisition and brand strategy."
Mr. Salz added, "We are very well positioned for a strong finish to 2022 and continued momentum into next year. We expect to benefit from a number of near-term catalysts, including several major esports events, a growing presence in traditional sports betting, the launch of a mobile app, and the ongoing introduction of new casino games, media content, and influencer partnerships.”
