Rivalry, an internationally regulated sports betting and media company, today announced preliminary betting and revenue tracking for the three-month period ending September 30, 2022.
Gambling revenue was $70.3 million in the third quarter of 2022, representing a new record for the company. The number is up 203% from Q3 2021, from $23.2 million in Q3 2021 to $38.4 million in Q2 2022.
Overall revenue was $7.1 million in the third quarter of 2022, which is also a record for Rivalry. The value represents a growth of 93% in relation to the previous year, which registered US$ 3.7 million.
With 82% of Rivalry’s active users under the age of 30, the company continues to successfully leverage brand equity, consumer engagement and original casino IP development to extend its leadership position as the destination for next generation betting.
The brand showed that more than 90% of sports betting was driven by eSports in the quarter. Rivalry now expects to announce full results for the third quarter of 2022 by the end of November.
Steven Salz, Co-Founder and CEO of Rivalry, commented: “The significant year-over-year growth we have delivered is testament to our leadership in the sports betting and casino market. Our customer base demonstrates our ability to engage a highly sought after audience. between Gen Z and Millennials in global markets, and further validates our global player and brand acquisition strategy.”
“We are very well positioned for a strong finish into 2022 and continued momentum into next year. We look forward to benefiting from a number of short-term catalysts, including several major sporting events, a growing presence in traditional sports betting, the launch of a mobile app and the continued introduction of new casino games, media content and influencer partnerships,” added Salz.
