Rivalry Gaming has expanded its offering with the launch of its new mobile betting app in Ontario, Canada. The app will allow users to place wagers on a wide array of traditional sports events such as soccer, basketball, and football, as well as esports competitions such as the League of Legends World Championships and Fortnite World Cup.
Certainly a welcome debut anticipated by Ontarians, particularly because apart from this new-fangled app, punters will be able to take advantage of some fantastic CA sportsbook bonuses. The app’s introduction should not come as a surprise with the esports bookmaker reporting a 15% month-over-month growth rate since obtaining its operating licence back in April of last year.
New Generation of Gamblers
When designing their new app, Rivalry kept in mind Millennial and Gen Z consumers, which make up 97% of their active users, by implementing features as well as elements from gaming culture that would resonate with this audience and entice them to use the platform. It also doesn’t hurt that they are known as mobile-first generations. However, studies have shown that these younger generations do not share the same propensity for gambling as their older counterparts, and as such, they are much harder to convert into active users.
Additionally, data also shows these consumers do not watch as much sports, but they do like the social aspects of sports betting. Following the 2018 overturn of the Professional and Amateur Sports Protection Act (PASPA), the legalisation and launch of online sports betting introduced a new way to gamble that younger demographics could get behind.
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Gen Z and Millennial gamblers are also always looking for new ways to connect socially with other like-minded individuals and enjoy how sports betting helps to build communities among sports fans. Moreover, while these younger generations are typically classified as fiscally conservative, they are more willing to spend money on unique social experiences.
Rivalry’s co-founder and CEO, Steven Salz, stated that the launch of the mobile app will make the company’s product more accessible to their core audience of Millenial and Gen Z consumers who crave the flexibility of betting on their phones. The app also marks a significant addition for the company’s Ontario operations, as it will allow them to expand their esports betting reach and continue to grow the category.
The Rise of Esports Betting
Rivalry’s newly found growth can be attributed to the rise in esports betting in Ontario. What was once a niche activity reserved for dedicated gamers has now evolved into a hugely successful industry with millions of fans. This in turn has catapulted the esports betting market, with its total revenue estimated to reach a whopping $24 billion by 2028.
Another key driver of the esports betting surge is the digital native generation, who grew up playing video games and are now reaching adulthood with disposable incomes while still maintaining that deep-rooted passion for this pastime. Rivalry’s decision to launch their mobile sports betting app offers players an opportunity to combine their love of gaming with the thrill of gambling, creating a unique and engaging entertainment experience.
Furthermore, the accessibility of online betting platforms and the integration of esports into mainstream gambling websites have made it more convenient for enthusiasts to participate in this emerging market. Additionally, esports is poised to continue experiencing an upward trajectory, and as such, Rivalry is setting itself up for success by catering to this ever-growing market.
Record Revenue
The operator has enjoyed a record financial year for fiscal 2022, accumulating $26.6 million in revenue, which translates to a 140% increase year-over-year. Rivalry’s boost in revenue can be attributed to the growth across its gaming and sportsbook divisions. The company also experienced a major bump to their total betting handle, which was previously recorded at $78.2 million in FY 2021 and now sits at approximately $232.8 million.
Early this year, Rivalry also found success with the debut of its interactive casino platform, Casino.exe, in Ontario, featuring a total of eight casino games. Salz referred to the addition as a catalyst for the business, helping to differentiate the company’s brand in the competitive online casino space. The CEO hopes that the introduction of the company’s new mobile application will help to further deepen its presence and offerings in the market.
