Rivalry, an international betting and media company based in Toronto, has reported its highest-ever quarterly revenue of CA$12 million in Q1 2023, representing a year-on-year growth rate of 151%. The company also achieved a gross profit of $5.4 million, an increase of 89% from Q1 2022. Although Rivalry continued to operate at a loss, the net losses were reduced by 50% compared to the previous year. The revenue growth was driven by a significant increase in betting handle, which rose by 199% to $120.2 million. Rivalry’s engagement strategy with Gen Z and millennial bettors played a crucial role in its success, leveraging partnerships with influencers and media properties. The company’s customer activations during esports events and a focus on authentic touchpoints contributed to its marketing […]

In 2018, the U.S. Supreme Court overturned the federal ban on sports betting, known as the Professional and Amateur Sports Protection Act. Since then, Americans have wagered more than $220 billion on sports, according to analysis by the American Gaming Association. Among the states, Nevada and New Jersey have seen the highest levels of sports betting activity. In Nevada, people have bet nearly $32 billion since the legalization, making it the second-highest state in terms of betting volume. New Jersey takes the top spot with $37.5 billion in bets. Colorado, another state in the Mountain West region, ranks seventh with $11.7 billion in wagers. Wyoming has seen approximately $238 million in sports bets, followed by Montana at $139 million. It’s worth noting that New Mexico […]

The head of Maine’s Gambling Control Unit, Milt Champion, has expressed optimism that sports betting could be launched in the state by November. This comes as the agency published a revised draft of rules governing sports betting in Maine after receiving nearly 600 public comments on the initial draft released in January. The revised rules are now open for public and industry comments until June 16. If the comments do not result in substantial changes, the rules will be sent to the Office of the Maine Attorney General for approval. Champion is hopeful that there won’t be a need to publish the rules for a third time. If the rules receive approval from the attorney general’s office in June, the launch of sports betting in […]