Rivalry is expanding its Ontario online casino offerings.
The sports betting and media company announced Monday the launch of eight new games including Roulette, Blackjack, Baccarat, Deal or No Deal and much more. Also added are live dealer options and multiple single player table games.
All the offerings will be integrated via Rivalry’s interactive casino environment – Casino.exe.
Last summer, Rivalry launched its initial product – named Aviator. This time around, Rivalry spokesperson Cody Luongo told PlayCanada, via email, the company knew exactly what it wanted.
“Instead of scaling its casino offering with hundreds of games at once, Rivalry has expanded mindfully with a curated list of games geared specifically for its core demographic of under-30-year-old users,” Luongo said.
“This includes prioritizing multiplayer and social titles that run counter to a traditionally siloed casino gaming experience and are better equipped to meet the shifting consumptions habits of next generation consumers.”
Rivalry finding early success in casino market
Typically, Rivalry is best known for its esports and Ontario sports betting options.
To that end, esports represented 90% of Rivalry’s sportsbook betting handle in 2022.
Indeed, today, if visiting the brand’s home page, punters will be flooded with various moneylines for competitive esport matches and leagues.
Some examples include:
- Counter Strike: Global Offensive (CCT South America Series)
- Valorant (Challengers League)
- Dota 2 (BTS Pro Series: Americas)
However, the casino market has also been fruitful for Rivalry.
For instance, the Toronto-born-and-based business points to its third fiscal quarter (Q3) in 2022. According to Luongo, during this time, casino offerings produced a 30% betting handle for Rivalry alongside a 15% revenue boost.
Yet, during this same span, Rivalry only had six casino game offerings, making for a great return on investment.
Casino segment has provided valuable diversification for esports-heavy company
That result was enough to perk the interest of the company’s co-founder and CEO, Steven Salz:
“Our entry into the casino segment last year has provided valuable diversification to the business, adding incremental revenue while reducing the impact of seasonality in sports betting, improving margin stability, and continuing to promote profitable customer unit economics.
“We anticipate this extension of our casino offering will further grow revenue potential and drive sustained engagement amongst our users with a curated list of games geared for our demographic.”
Rivalry posts record-setting year in 2022
Overall — whether through esports or casino offerings — Rivalry continues to trend upwards.
In fact, in 2022 the company had a record-setting year on multiple fronts.
Here were some of the biggest highlights:
- Increasing year-over-year betting handle by 181% ($186 million) in Q3 2022
- Increasing YoY revenue by 130% to $21.7 million in Q3 2022
- Continued strong performance with Millennial and Gen Z consumers — both groups represented 82% of Rivalry’s active user base
- First-ever profitable month reached in Rivalry history (October 2022)
Salz said he is keen to see what 2023 has in store.
“Having achieved record results every quarter, we believe the prospects for our business are as strong as ever as we kick off 2023,” he said.
Rivalry aims to capture Gen Z and Millennials demographics
Yet, Salz says Rivalry’s success isn’t exactly surprising.
According to him, traditional sportsbooks simply don’t cut it for the younger generation these days – leaving a wide-open marketplace.
“Our leading brand position among Millennial and Gen Z consumer was a catalyst in generating meaningful revenue from esports betting during a period of several tentpole international events, and ultimately driving record results in the third quarter.
“Our differentiated strategy and product offering is key in connecting with a demographic that legacy operators aren’t equipped to serve.”
Meanwhile, Luongo said much of it comes down to marketing.
“While Rivalry’s eccentric brand may seem outwardly bizarre, it’s actually part of a very deliberate strategy to acquire customers profitably and drive engagement.
So while large scale operators are scrambling to shed big-ticket bonuses and multi-billion dollar marketing spend, Rivalry is using gaming and Internet culture to build brand equity, customer loyalty and ultimately differentiate itself in a deeply competitive market.”
Trends in esports betting industry
In the end, despite its casino additions and potential for it moving forward, Rivalry knows what pays its bills: esports.
It’s what the company is most known for, and it is what consumers have come to expect from them. Salz embraces the notion.
For instance, Rivalry recently produced its 2022 End-of-the-Year Report for esports betting.
A few of the key findings:
- Most wagered-on esports titles in 2022: League of Legends, CS: GO, Dota 2, Valorant, Mobile Legends: Bang Bang
- CS:GO was most wagered on title in Canada
- Basketball most popular sport amongst esports bettors
- More than half of the people who bet on esports in 2022 also bet on traditional sports
- Mobile games have risen in popularity and is a trend to look forward to in 2023