Latest News
We are Betinvest: The talent behind the technology
Speaking ahead of ICE 2020, Betinvest COO Max Dubossarsky outlined the company’s plan to launch We are Betinvest, a project which sheds light on the teams of people behind the brand.
What has inspired Betinvest to share the stories of its team members and their many different areas of specialization?
For over 20 years of working in the industry, we have always found that our most valued resource is our team. It is thanks to their professionalism and talent that new products and solutions are created, and different ways to promote our services are developed. It is our employees who are changing the industry with their day-to-day work. And the result of their hard work is reflected in the high market value of our product, the reputation of the company, and the loyalty of our clients. Our team is the main driving force behind the business.
Because we are striving to develop the industry as a whole, we have decided to speak openly about the internal workings of our business. And so, the aim of our project We are Betinvest is to introduce you to the different departments within the company, in terms of the professional and personal qualities of our employees alike. We believe that this will broaden understanding of the complex internal processes of our business: at what stage of a project are different teams involved, what issues do they deal with, and what is their overall contribution? With this project, we hope to raise awareness of all the job descriptions in the gambling industry amongst our followers on social media and show them that Betinvest is all of us, and each and every one of us.
Where can we follow these stories and how will you share them? Can you tell us which department will be first up?
The We are Betinvest project will be launched in February, straight after ICE London, and can be followed on our official Facebook and LinkedIn profiles. Every team of specialists will be featured in the publication series, starting with an introduction to the team at the very heart of our sports betting business: the traders. We hope that readers will find this interesting and informative.
Follow us on social media and give us your feedback. We’d love to hear from you!
How important is it that companies hire candidates who are the right fit for the team?
Of course, it’s very important that everyone fits in, and does what they do best and what they’re passionate about. So, as well as having a thorough selection process, we do our best not to lose our professionals when they decide they want a change of direction: we help them do so within the company. Each of our employees is able to develop not just within their own job role, but also to change specializations and departments.
In terms of recruitment, let’s take as an example our team of traders. We have a special training program and system of career progression within the company for new employees. But from the outset, potential traders must have a good working knowledge of maths and the theory of probability, and they need to enjoy sport and have a deep understanding of certain sports in particular. When part of an experienced team, all of this knowledge will be transformed into a professional skillset. But in this line of work, a love of sport is a real necessity.
Each and every one of our employees is valued, not just as professionals in their area and as individuals, but as members of the team. That’s why it’s also important to us that new employees become part of the Betinvest family, share our values and corporate culture, and stay with us for as long as possible.
What does Betinvest do to cultivate a productive environment to allow its talented specialists to thrive?
A large part of our lives is spent at work, and we understand the importance of corporate culture, and an office environment that facilitates productive work and recreation. I also mentioned earlier that we always listen to our team’s wishes to learn and develop, and we provide opportunities for them to fulfil their potential in a variety of projects within the company. This has a direct effect on satisfaction levels.
Studies have shown that people are more productive at work and take their work more seriously if they get on well with their colleagues. We facilitate this by organizing team building events – both for department teams and interdepartmental. Friendly relations within a company break down barriers, increase efficiency, and make our time at work more enjoyable.
An important part of the work carried out by our HR department is the professional development of our team. So, as well as employee benefits which include insurance and access to a gym, we offer our employees extra training through professional courses, workshops, and training sessions.
And, of course, we make sure the office has everything it needs so that it is both a comfortable working environment and well suited for recreational time.
Can you define the Betinvest culture in less than 140 characters? How does this translate to a top-quality product and service for clients?
We place great importance on values such as flexibility, openness, innovation, and professionalism.
This is reflected in and defines our products and services. With our experience in the industry and the range of sports betting solutions we offer, we are a single entry point into the gaming industry for our clients.
Gambling in the USA
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.
The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.
The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.
Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.
“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”
Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”
JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.
What is GambleFi?
GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.
How JuicyBet works
JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.
All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.
However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.
- First, the tokens provide access to betting.
- Second, token holders get their share of the platform’s profit.
- Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
- And finally, DAO participants can also perform the role of oracles for bets and earn rewards.
In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.
In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.
JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.
Latest News
Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
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