Rivalry is fueled among high-value players

Posted: January 8, 2025, 10:27 pm.

Last updated: January 8, 2025, 10:27 pm.

Toronto-based Rivalry is entering 2025 having recently completed a major product, brand and marketing overhaul, including a crypto-first strategy as well as a renewed focus on online casinos and high-value players. Is included.

Big focus on crypto

More specifically Rivalry CEO Steven Salz points to a revised registration flow, login, sportsbook, new crypto-first cashier, redesigned casino offering, and an extensive VIP rewards program.

Salz told Casino.org the activation of the VIP program, which was introduced on Nov. 29 to coincide with the release of the company's Q3 2024 financial results, is being extended this week.

Some details:

• Rivalry VIP is a rewards program that allows users to unlock perks and benefits for their betting activity, such as sports betting and through the casino, including cashback and free spins, as well as monthly, weekly and daily rewards.
• As players earn XP and rank up to 80 different levels, they are offered higher deposit bonuses (up to $6,000 matched), increased cashback percentages (up to 11%), and a multiplier on the amount of NUTZ (their original If so, the players' profits increase. tokens) they receive from their bets.

organic growth

Salz told Casino.org, “Rivalry VIP is one of several strategic efforts we have taken to attract high-value players, strengthen long-term user retention and deliver greater value for our customers. ” “This program was designed to disproportionately reward big play, giving Rivalry’s most loyal users more reasons to play and enabling us to drive consistent betting activity.”

The rivalry has been a feel-good story on a crowded Ontario regulated gaming scene, looking to drive organic growth with minimal marketing spend in 2022 while focusing on e-sports, internet culture and building brand relationships with the next generation of bettors. Increases. In 2024 Rivalry reported that 82% of active users were under the age of 30,

change in focus

That focus has changed – eSports is still part of the mix, but another spokesperson there said they're seeing an appetite for sports and casinos, especially since they've moved into crypto and are expanding their audience to new personalities. Has expanded to. Casinos have grown significantly over the past several quarters – it accounted for 62% of their betting operations in Q3 (globally, not just in Ontario). And in Q2 they observed that two-thirds of NUTZ token users' betting handles were placing bets on casinos.

Salz said they are beginning to see signs that their native token offering is poised to meet many of the company's near- and long-term goals, including expanding their geographic footprint and acquiring and retaining high-value players.

Online Casinos: A Crowded Market

In just a few months, the Rivalry token has attracted new customers that are worth twice as much as our average user and marked the most successful reactivation campaign in the company's history.

The rivalry's Q3 report (ending September 30, 2024) was highlighted by an all-time high in average net revenue per user,

The company's third quarter betting handle was $79.9 million CAD ($57 million USD), which is a slight decrease. Adjusted revenue was $6 million CAD ($4.3 million USD).

Average staking revenue per user increased 51% compared to the average for the previous period through 2024, and 70% compared to the average over the past three years since launching the initial set of new product features in October.

Net revenue per user increases

The token product for players linked to crypto wallets generated $3 million CAD ($2.1 million USD) in deferred revenue in Q3 (200% more revenue than the average non-crypto player on Rivals).

Ontario market is very crowded – According to data from iGaming Ontario, the Ontario regulated market, which launched in April 2022, now has 50 licensed operators and 82 gaming websites (72 of them offering online casinos).

The government-owned Ontario Lottery and Gaming Corporation reported its total gross online casino and sports betting revenue on Friday — $630 million in fiscal year 2023-24, up from $561 million in 2022-23.

In fiscal year 2023–24 (April 1, 2023 to March 31, 2024), the Ontario private market, which does not include OLG, had total wagers of $64 billion and gaming revenue of $2.4 billion.

TitanPlay goes mobile

As first reported by Canadian Gaming Business, TitanPlay, which offers online casinos, live betting, eSports and sports betting, is now offering a mobile offering through its partnership with DellSport. TitanPlay is operated by Malta-based Shark 77 Ltd, and is slated to launch in Ontario in June 2024.

Taking a mobile-first approach when developing products is essential in today's iGaming industry, DelaSport CEO Oren Cohen Schwartz said in a written statement. “Data shows that mobile users now account for over 70% of the entire player base, so we make sure to be ready to bring our partners into this thriving market at any time. That's the case with TitanPlay, which had an incredibly successful launch in Ontario last year and is now ready to win over even more players.