Rivalry, a leading online betting platform, has announced its ambitious plans to transform the future of online betting for the digitally native generation. The company has expanded into new verticals, including traditional sports, casinos, and fantasy gaming, aiming to engage the underutilized Gen Z demographic.
In 2023, Rivalry experienced significant growth, reporting a 70% increase in revenue, reaching $29.2 million. This growth occurred despite an 8% decrease in marketing spending, showcasing the company’s successful business model. Rivalry also expanded its creator network with over 100 brand partners and 90 million aggregate followers, continuing its marketing excellence.
Steven Salz, Rivalry Corp. co-founder and CEO, emphasized the company’s position as a proven onramp to interactive and entertaining experiences, reflecting its appeal to customers, brand partners, and stakeholders.
Rivalry positions itself as a generational brand in online gambling, focusing on serving emerging customers with an entertaining and culturally relevant product suite. The company strategically aligns itself with gaming and internet culture, resonating globally with original game IPs such as “Cash & Dash.”
Looking ahead to 2024, Rivalry aims to capitalize on emerging trends, particularly in the casino gaming sector and the B2B market. The company is leveraging its success in engaging the under-30 demographic to create new revenue streams and improve brand recognition in the B2B sector.
The goals for 2024 include balancing profitability with growth, strategic investments in key areas, and further expansion into traditional sports segments to broaden the demographic reach. Rivalry aims to showcase operational excellence and maintain its position as a frontrunner in online gambling, focusing on capturing the next generation’s customer journey and pioneering the future of online betting.