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May 25, 2023
May 25, 2023

Rivalry Achieves Record Q1 Revenue and Reduces Net Losses, Focusing on Product Innovation and Market Expansion

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 […]
May 24, 2023
May 24, 2023

Sports Betting Thrives in the United States After Federal Ban Overturned

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 […]
May 21, 2023
May 21, 2023

Horse Tracks will benefit greatly from Kentucky’s new sports betting law

The new sports betting legislation in Kentucky is set to change the gambling landscape in the state, providing a boost for local horse racing tracks and online betting platforms. Despite the fact that every wager placed will involve another company besides the betting app provider, the legislation ensures that one of the state’s nine horse racing tracks gets a share of the profits from each bet. This new legislation allows tracks like Churchill Downs Inc., the state’s largest horse racing company, to profit from online partnerships with platforms like FanDuel. Other tracks are also entering into partnerships; for instance, Keeneland Association announced a partnership with Caesars Sportsbook for online and physical sportsbook operations. However, according to Churchill Downs CEO Bill Carstanjen, while these partnerships provide […]
View NFL Weekly Projections
May 25, 2023
May 25, 2023

Rivalry Achieves Record Q1 Revenue and Reduces Net Losses, Focusing on Product Innovation and Market Expansion

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 […]
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May 24, 2023
May 24, 2023

Sports Betting Thrives in the United States After Federal Ban Overturned

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 […]
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May 21, 2023
May 21, 2023

Horse Tracks will benefit greatly from Kentucky’s new sports betting law

The new sports betting legislation in Kentucky is set to change the gambling landscape in the state, providing a boost for local horse racing tracks and online betting platforms. Despite the fact that every wager placed will involve another company besides the betting app provider, the legislation ensures that one of the state’s nine horse racing tracks gets a share of the profits from each bet. This new legislation allows tracks like Churchill Downs Inc., the state’s largest horse racing company, to profit from online partnerships with platforms like FanDuel. Other tracks are also entering into partnerships; for instance, Keeneland Association announced a partnership with Caesars Sportsbook for online and physical sportsbook operations. However, according to Churchill Downs CEO Bill Carstanjen, while these partnerships provide […]
Do you like it?
Read more