Rivalry has published its preliminary results for the third quarter, declaring a record handle and revenue thanks to esports betting, as well as growth in casino experiences.
On its website, the sportsbook and media company reported a new all-time high betting handle of $70.3m, a 20.3% increase year-over-year (Q3 2021: $23.2m) and up 83% on the previous quarter (Q2: $38.4m).
Revenue is also up for the company by 93% YoY to $7.1m (2021: $3.7m), which is also a 35% improvement quarter-over-quarter (Q2: $5.3m).
Rivalry also declared that 82% of its active users are under the age of 30, and 90% of its sportsbook handle during the quarter came from esports betting.
“The significant year-over-year and sequential growth we delivered is a testament to our market leadership in next-generation sports betting and casino,” commented Steven Salz, Co-Founder and CEO of Rivalry.
“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 added that its popularity amongst bettors under 30 and in esports wagering contributes to the successful leveraging of “brand equity, consumer engagement, and original casino IP development to extend its leadership position as the betting destination for the next generation”.
Salz added: “We are very well positioned for a strong finish to 2022 and continued momentum into next year.
“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 Q3 results by the end of November.