Rivalry Sportsbook App

We measure our success on these efforts in revenue growth and margin expansion, healthy customer acquisition metrics, profitable unit economics, and deepening brand engagement.

Rivalry Issues 2022 Business Update

January 04, 2022 07:00 ET | Source: Rivalry Corp. Rivalry Corp.

Toronto, Ontario, CANADA

TORONTO, Jan. 04, 2022 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (FSE: 9VK), an internationally regulated sports betting and media company, today issued a letter to shareholders summarizing recent progress and outlining strategic priorities for 2022. The full text of the letter follows. All dollar figures are quoted in Canadian dollars.

Rivalry Corp. 2022 Business Update

To our Shareholders,

At Rivalry Corp. (“Rivalry” or the “Company”) we aspire for every year to exceed the last, and in 2021, our third full year of operating, we did just that. We delivered our strongest growth to date.

Since launch we have demonstrated discipline and execution. Some highlights:

Created the most engaged esports betting brand globally 1 ;
Increased revenue more than 600% year-over-year (YoY) to $8.9M as of our most recent reported quarter (Q3 2021) on a year-to-date (YTD) basis;
Grew betting handle 2 over 180% YoY to $66.1M through October 2021 on a YTD basis, with an implied annual run rate as of the last reported quarter (Q3 2021) of nearly $100M;
Customer registrations increased to approximately 600,000 through October 2021 on a YTD basis, up from 350,000 as at 2020 year-end;
Customer acquisition costs remain significantly below market and deliver profitable unit economics 3 ;
Developed all of our technology in house;
Pioneered a new gaming category of Massive Multiplayer Online Gambling Games (MMOGG) with our proprietary title Rushlane;
Conditionally granted a sports bookmaker licence in Australia from the Northern Territory Racing Commission (Australia) (the “NTRC”);
Submitted an application to the Alcohol and Gaming Commission of Ontario (the “AGCO”) to become a fully registered operator of internet gaming and sports betting in Ontario;
Commenced trading via direct listing on the TSX Venture Exchange on October 5, 2021.

Our ambition does not end there. We are confident 2022 will be another record year of accomplishments. The investment we will be making in all key areas of the business will likely exceed the past three years combined. This sets 2022 up for a multitude of material catalysts:

Anticipated launch in two new regulated markets, Australia and Ontario;
Innovative product releases, demonstrating the power and scalability of our proprietary technology;
New originally developed games to complement Rushlane and our MMOGG category;
New content and media to continue positioning Rivalry as a market-leading brand at the forefront of internet culture;
Launch in new geographies under our existing Isle of Man licence to provide continuous user growth and brand reach across the globe; and
Expand our capital markets presence to increase investor awareness.

Backing this effort is a fortified balance sheet with approximately $41.3 million of cash and no debt as at our most recently reported quarter (Q3 2021), a figure several times the amount we spent to build the entire business.

We are executing against a generational opportunity, and our vision is clear:

Become the leader in next gen sports betting and entertainment globally.
Have the most engaged brand and portfolio of IP (games, content, creators, and more) that is revered and trusted.

We expect that success on these key priorities will make Rivalry transportable into new categories beyond betting. Why? Because we have a loyal user base and a foundation of trust with under 30’s in a regulated framework, fully KYC’d, with funded wallets, who are deeply engaged in our universe.

Rivalry was born through the mutual passion we share with our target audience: gaming and internet culture. At approximately 40% of the global population 4 , Gen Z and young Millennials, my generation and much of the team, represent the largest generational cohort in history. We grew up interfaced with the internet, and view gaming as the sport of the internet. Through that lens we have shaped Rivalry as a brand that is deeply woven into the fabric of this emerging internet culture that is reshaping multiple consumer industries, in addition to sports betting.

I’m confident Rivalry as a company, and a collection of talented individuals understands better than any of our peers how to navigate and participate in this culture. It is an inevitable generational tidal wave that we are focusing all our efforts on acquiring, retaining, and entertaining.

The growth and market leadership advantages we have created are a product of our disciplined execution on hundreds of large and small details that we deliver as a simple and cohesive user experience. This is how we are building brand equity with long-term sustainable value.

We measure our success on these efforts in revenue growth and margin expansion, healthy customer acquisition metrics, profitable unit economics, and deepening brand engagement.

In 2022 we are committed to expanding our brand leadership not just in next gen sports betting globally, but in entertainment in this rapidly evolving internet culture that we are part of. It’s my belief that this intersection we live in, and the demographic we are serving, represents one of the biggest opportunities of the coming decade.

I have complete conviction in our team and strategy, which is now underpinned by the strongest balance sheet we have had since founding. We will continue to deliver, and 2022 will demonstrate to the market what kind of pace we are capable of.

I wish everyone a successful and healthy year.

Steven Salz
Co-Founder & CEO
Rivalry Corp.

________________________
1 _{Source: Twitonomy, Social Blade, Rival IQ}
2 _{The Company defines “Betting Handle” or “Handle” as the total dollar value accepted in wagers, adjusted for cancellations and corrections.}
3 _{Source: Multiple EU public sportsbook filings}
4 _{Source: United Nations}

About Rivalry

Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media property offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of bettors. Rivalry Limited currently holds an Isle of Man license, considered one of the premier online gambling jurisdictions. Based in Toronto, Rivalry operates a global team in more than 18 countries and growing. Rivalry Limited was granted its Isle of Man license in early 2018, officially launching in August of that year, and the Company is currently in the process of obtaining additional country licenses. The Company also has a variety of originally developed products, including Quest, an on-site engagement experience, and an original casino game called Rushlane, a proprietary casino game that marks the creation of a new category for online gaming: Massively Multiplayer Online Gambling Games (MMOGG).

Investor Contact:
Vincic Advisors
Jeff Codispodi I investors@rivalry.com

Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko I kell@brandstyle.com

Company Contact:
Steven Salz, Co-Founder & CEO
ss@rivalry.com

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking statements in this news release include, but are not limited to, statements in respect of the growth prospects of the Company, including with respect to betting handle and other performance indicators, the Company being approved as a registered licensed operator of internet gaming and sports betting in Ontario and expected launches in Australia and other jurisdictions and the Company’s potential product releases.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s prospectus dated September 17, 2021 and other disclosure documents available on the Company’s SEDAR profile at www.sedar.com.

No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

As this is an eSports-focused site, you will discover that you can bet on almost every competitive eSports out there. We’ve hand-counted all of them, and below you will see a full list:

First Impressions & Rivalry App

Once you land on their website, you will notice the layout is simple. And when it comes to betting online, simple is good, as you can place bets with ease! Everything is divided into dedicated categories, so no matter what you’re looking for, it’s just a couple of clicks away. On the top part of the screen, you will find the ‘Betting’ tab. Hover over it and pick whether you want to bet on eSports or regular sports. Other categories include Contests, Promotions, Academy, News, Promos, and Help.

Rivalry Key Information

Established2018OwnershipRivalry LimitedOfficial Websitehttps://www.rivalry.comLicenseIsle of Man Supervision CommissionCustomer Support24/7 Live Chat, Email, FAQBonusWelcome Bonus of 100% Up to $100Payment MethodsVisa, Master, Maestro, AstroPay, Skrill, Neteller, Pay4Fun, MuchBetter, Yandex, ecoPayz, Boleto, Direct Bank Transfer, BitcoinMin Deposit$15Max Withdrawal$1,000 For Verified Users, $10,000 For Enhanced UserseSports GamesCSGO, Dota 2, League of Legends, Call of Duty, Hearthstone, Rocket League, Overwatch, Valorant, Starcraft 2, Rainbow 6, Street Fighter, NBA 2K, Arena of Valor, FIFA, Blood War, HALO, Heroes of the Storm, King of Glory, SMITE, Free Fire, World of Tanks, World of WarcraftSportsbookFootball, Baseball, American Football, Tennis, Basketball, Volleyball, Boxing, MMA, Hockey.LoL and Dota 2 Special BetsMatch-Winner, Map Winner, Correct Map Score, Handicap, First Tower, First Blood, Most Kills, Total Kills Over/UnderCSGO Special BetsMatch-Winner, Map Winner, First Pistol Round Winner, Correct Map Score, Handicap, Over/UnderLanguages AvailableEnglish, Spanish, Russian, Portuguese, Korean, ChineseRestricted CountriesAfghanistan, Algeria, Angola, Australia, Bosnia and Herzegovina, Cambodia, Canada, Cayman Islands, Denmark, Ethiopia, French Southern Territories, Guyana, Hong Kong, Iran, Iraq, Ireland, Israel, Italy, Japan, Laos, Libya, Netherlands, New Zealand, Nigeria, North Korea, Pakistan, Panama, Philippines, Poland, Portugal, Puerto Rico, Saudi Arabia, Singapore, South Africa, Spain, Syria, Taiwan, Turkey, Uganda, United Kingdom, United States, Yemen

If you want to place an eSports bet, you will find all of the games displayed on the left side. Choose your game and see all matches available. To place a special bet, click the ‘+’ button next to the games displayed. This will take you to another page where you can find all the creative bets on offer.

Loading speed is fast, and all promotions and challenges are clearly displayed. Whether you’re using your desktop computer or mobile device, you won’t face problems navigating through the different categories. The site is compatible with any mobile device, and you wouldn’t even notice the absence of a dedicated Rivalry app. However, this may strike as bad news for some people, so we hope the developers will soon create a Rivalry app.

So, you clearly have plenty of choice when it comes to online sports wagering. However, what is the best approach to take when it comes to online sports betting? There are many ways to tackle the issue, but here we have pulled together a few ideas for you to consider.

Is Sports Betting Legal?

The sports betting industry has a massive, global presence these days and the activity is legal in many different parts of the world. However, there are some key issues to bear in mind before you start using online betting sites.

First up, you should consider the rules around both offline and online betting in your part of the world. Many regulations affect the area, including legislation like the Interactive Gambling Act. So, take some time to educate yourself. After all, the last thing you want is to be caught on the wrong side of the law.

Next up, it is worth checking that the specific sites you intend to use are licensed to operate within that region. You should also do everything you can to ensure any online sportsbooks you use are safe, secure, and trustworthy. Put simply, it is very important to only use regulated providers when betting on the latest sports events.

Other elements to bear in mind include the legal age for using gambling sites. This may vary across different countries, so sports fans in their late teens should check what the situation is where they are based. Once you have these key basics figured out, you can devote your time to both finding great odds and developing your understanding of the sports betting world.

Rivalry’s promotions are perfect for up-and-coming punters and veteran customers alike. A 100% matched deposit bonus is a great welcome offer for someone who’s looking to get a head start in esports gambling, and Rivalry’s Bonus can give you up to $100 in extra value. The get your bonus you’ll need to place a minimum deposit of $15 and all you’ll have to do is fulfill the fairly straightforward requirements like wager his bets 5 times to unlock the initial funds. Once that’s done you can choose to wager with real money or with your bonus funds. Bet placed with your bonus funds must meet the minimum odds requirement of 1.5. Son’t forget to use the “WELCOME100” promo code when you make your deposit!

Esports Activity Level

What esports can I bet on?

Rivalry is a great place for betting on prominent esports titles. Here, you’ll find a wide array of betting options for Counter-Strike: Global Offensive, League of Legends, Dota 2, Overwatch, and many more esports titles. Rivalry has throughly expanded their esports markets.

What kinds of bets are offered on esports?

On Rivalry, standard match winner bets will be your bread and butter. That said, there are other esports markets like map winner wagers or first team to reach a certain milestone (i.e. first kill or first round) bets. Also, you can try your luck with parlay wagers, which is a fancy way of saying combo bets.

What special features/promotions are offered for esports bettors?

Rivalry’s promotions are perfect for up-and-coming punters and veteran customers alike. A 100% matched deposit bonus is a great welcome offer for someone who’s looking to get a head start in esports gambling, and Rivalry’s Bonus can give you up to $100 in extra value. The get your bonus you’ll need to place a minimum deposit of $15 and all you’ll have to do is fulfill the fairly straightforward requirements like wager his bets 5 times to unlock the initial funds. Once that’s done you can choose to wager with real money or with your bonus funds. Bet placed with your bonus funds must meet the minimum odds requirement of 1.5. Son’t forget to use the “WELCOME100” promo code when you make your deposit!

Rivalry have developed their very own Esports Casino Game, Rushlane, this is the first of it’s kind and unlike any other casino game we have ever seen before. Rivalry’s CEO Steven Salz believes that this is the future for esports casino and casino games developed for esports fans.

Rivalry, an online esports and sports betting platform, plans on listing its shares on the Toronto . [+] Stock Exchange by October.

Rivalry Limited, An Esports And Sports Betting Platform, Plans To Go Public Through Listing On Toronto Stock Exchange

Rivalry, an online esports and sports betting platform, plans on listing its shares on the Toronto . [+] Stock Exchange by October.

Rivalry Limited, an online esports and sports betting platform, plans on going public through a listing of its shares on the Toronto Stock Exchange by October.

The company, which is based in Toronto, earlier this month raised $22 million of so-called subscription receipt financing led by Eight Capital and Cormark Securities Inc., both Canadian firms. Per terms of the financing, that money will sit in escrow for 120 days. The funds will be released to Rivalry if the company lists its shares during that time or will be returned to the investors if a deal is not consummated.

The latest funding comes on the heels of a $21.5 million round earlier this year and values the company at $150 million, according to Steven Salz, Rivalry’s chief executive who co-founded it in 2018.

Rivalry generates about 85 percent of its traffic and revenue through esports, primarily with people betting on events involving League of Legends, Counter-Strike and Dota 2. The remaining 15 percent comes from sports betting, which it introduced last year. Its most popular sports are basketball and soccer. The company last month also launched Rushlane, a multiplayer, interactive casino game.

Rivalry has a regulated gambling license through the Isle of Man, which allows it to accept bets from anywhere in the world where there’s no local licensing in place. The company claims it has more than 450,000 users, with more than 90 percent of them under the age of 30, as esports attracts a younger crowd than traditional sports betting. The company’s largest markets include Brazil, Chile, Mexico, Peru, Philippines, Russia and Ukraine.

However, Rivlary’s license does not permit Rivalry to operate in about 30 countries, including the U.S., which has had legal sports and esports betting since the Supreme Court in May 2018 overturned the Professional and Amateur Sports Protection Act of 1992.

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Rivalry does not plan on applying for licenses in the U.S. anytime soon. Instead, it hopes to strike a joint venture or partnership with an already regulated operator similar to the deal that Penn National Gaming Inc. signed two years ago with theScore, a Toronto-based sports media and gaming company. Through that deal, theScore paid an upfront fee to operate an online sports book in states where Penn National had licenses while Penn National also received an equity stake in theScore.

“I don’t think we’re going to go in (the U.S.) by owning independent licenses ourselves,” Salz said. “If you’re a traditional sports book and you’re going for the 34, 35 year old gambler, you have to be in the U.S. That’s the last big bastion for growth. But it’s not really the same for us.”

He added: “We find 18 to 26, 27 year olds are coming into the field globally. There are tons of markets that are attractive for us. The U.S. is, as well, but it’s going to be a longer play for us because there’s not the same urgency we feel about the U.S. as other people do.”

Rivalry does hope, though, to operate in Canada in the next several months. Canadian officials are expected to rule in favor of single-game sports betting in the country as soon as this week, paving the way for provinces to enact their own legislation similar to what some states in the U.S. have done. When that happens, Rivalry will file for licenses in Canada.

The company earlier this year obtained a license to operate in Australia and plans on opening its platform there soon. It will also apply for licenses in other countries, which is one of the major reasons it decided to list its shares.

Salz explained that regulators spend a lot of time performing due diligence on the company’s founders, shareholders and directors before granting a license. That is much more difficult for them to do with private companies than with public companies, where there is more transparency and thus the regulatory approval process should go quicker.

Rivalry expects to go public via a direct listing, not a traditional initial public offering, or IPO. The main difference between the two options is that through an IPO new shares are created and sold to the public, while no new shares are created or sold in a direct listing.

“Being a private gambling company is particularly difficult,” Salz said. “Gambling companies will go public typically earlier in their life cycle than other companies. We always knew we would be listing earlier than we probably would’ve wanted to, but it gives the business a lot more freedom and flexibility.”

While some of them say they believe in GameStop’s future, others are attracted to the idea that the higher GameStop’s shares go, the more Wall Street’s bad bets will cost institutional investors money. When people in the Reddit community r/WallStreetBets began pushing up GameStop’s share price, establishment investors started losing billions and billions of dollars. Since then, GameStop’s shares have been swinging wildly, going from about $17 at the start of the year to $483 last week and then to $90 by the close of Monday’s trading. Shares rose slightly on Tuesday to close at $92.41, which is still down more than 80% from their highs last week.

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