Rivalry is going for the win.

Rivalry’s esports betting drives best quarter ever, first net profit

Toronto-based betting company Rivalry announced its quarterly earnings, highlighting that Q3 2022 was the company’s best quarter ever. In Q3, the company’s revenue reached $5.2 million, up 93% from Q3 2021. Similarly, gross profits jumped to a record high of $1.5 million in the quarter, up 263% from this period last year.

In its announcement, Rivalry showed that esports played a major role in the company’s success. Ninety percent of the company’s sportsbook handle was a result of esports betting, though its unclear how much esports contributed to the sportsbook’s $4.5 million in gross revenue. Largely, this focus on younger esports fans has paid dividends for Rivalry. According to a spokesperson, the average customer age is 25.

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