Rivalry posts betting handle of $70.3m during Q3 2022
This represents the largest betting handle in company history.
Rivalry Corp. has released the preliminary results of its third quarter revenue and betting handle results. The company’s third quarter ended September 30.
During the third quarter, Rivalry’s betting handle climbed to $70.3m, the highest on record for the company. When compared to last year’s Q3 results, the company’s betting handle grew by 203%.
Overall revenue results reflected a significant increase as well, climbing 93% year-over-year to reach $7.1m for the quarter.
The report also broke down the demographics of the company’s customer base. Close to 82% of all Rivalry users are younger than 30 years old, according to the report. Esports contributed to 90% of the sportsbook’s handle during the third quarter.
Rivalry Co-Founder and CEO Steven Salz said: “The significant year-over-year and sequential growth we delivered is a testament to our market leadership in next generation sports betting and casino.
“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.”
Rivalry Corp continues to expand its presence throughout North America. The company recently completed the Responsible Gambling Council’s (RGC) RG Check Program and has earned an RG Check Accreditation, which is a comprehensive responsible gaming award.
The RG Check Program equips iGaming sites with resources that can be used to monitor, evaluate and manage gambling risks.
Salz went on to say that the company is poised to finish well for the year at its current pace.
He concluded by saying: “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.”
Rivalry plans to publish its full results for the third quarter financial results next month.
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