Canada

Rivalry Issues 2023 Business Update

Published

3 years ago

January 18, 2023

Rivalry Corp., an internationally regulated sports betting, media, and technology company, today issued a letter to shareholders summarizing recent progress and outlining strategic priorities for 2023. The full text of the letter follows. All dollar figures are quoted in Canadian dollars.

Rivalry Corp. 2023 Business Update

To our Shareholders,

Rivalry experienced a breakout year in 2022, with exceedingly strong performance across the business.The early indicators of sustainable and profitable growth that we demonstrated in October are a positive sign of what’s to come as the business continues to execute its strategic priorities. Having achieved record results every quarter, we believe the prospects for our business are as strong as ever as we kick off 2023.

In 2022 we delivered triple-digit year-over-year growth in both revenue and betting handle, with average month-over-month revenue growth accelerating to 32% through the first 10 months of the year. At the same time, we reduced bonus/promotional spend relative to revenue by over 50% year-over-year, and achieved our first-ever profitable month in October. These results were underpinned by greater product diversification that reduced the impact of seasonality. We’re proud to have finished the year strong and look forward to reporting our full Q4 results.

We have high expectations for 2023, and are confident that it will be another year of record achievements. This shareholder letter provides an update on our business, our place in the industry, and some of the things we’re excited about for Rivalry in 2023.

We are executing against a generational opportunity, and our vision remains clear:

Become the leader in betting and entertainment globally for the next generation.
Build the most engaged brand and portfolio of IP in esports betting (original games, content, creators, and more).
Leverage our technology to innovate on product at every turn, creating a proprietary, interactive, and entertaining betting experience customers won’t find elsewhere.

With an ever-evolving gaming industry and a product suite still in the early stages of fulfilling our vision, we see a huge amount of market opportunity as we continue to trailblaze in this category. We are eager to continue executing on our strategy with financial discipline and scaling purposefully toward profitability.

2022 highlights

We’re proud of our 2022 accomplishments, including:

Delivering significant growth, including year-to-date betting handle increasing 181% YoY to $186 million, and revenue increasing 130% YoY to $21.7 million in Q3 2022.2
Continued to build upon the most engaged esports betting brand globally.
Demonstrating our market leadership in esports betting with 90% of sportsbook handle driven by esports.
Increasing market share ownership of Millennial and Gen Z consumers, represented by 82% of our active user base being under 30-years old, and an average customer age of 25, approximately a decade younger than legacy sportsbooks.
Expanding our esports betting product, including the introduction of mobile game titles in March, which has already contributed a meaningful amount of betting handle and strong signs it will carry its momentum throughout 2023.
Successful expansion into a new product category with the launch of Casino.exe, our proprietary casino interface, which drove immediate impact, contributing 30% of betting handle and 15% of revenue in Q3 2022 with minimal marketing efforts.
Launching in two new regulated markets: the province of Ontario, Canada, and Australia.
Best-in-class creative execution, leveraging 100+ brand partners in more than a dozen markets and 20+ owned social media channels to deepen brand awareness and engagement among our target audience, while enhancing customer acquisition and retention.

Notably, these results and signals of sustainable growth are all organic, driven by an overarching strategy that prioritizes great consumer products and brand engagement over flash-in-the-pan trends and promotional spend.

Rivalry’s growing role in betting, esports, and entertainment

Rivalry has created a truly differentiated position within the betting industry that we believe will make a meaningful impact on our financial performance as we scale the business.

The global sports betting industry eclipsed $83 billion in 2022 and is set to grow at a CAGR of 10.2%. Meanwhile, the $197 billion global video game industry is experiencing similar growth with an expected CAGR of 12.9% and expanded generational significance, seeing 87% of Gen Z playing video games weekly among a larger population of 3.1 billion gamers globally. It is at this valuable intersection where Rivalry lives.

Our approach toward attracting the next generation of consumers is different from legacy operators. We scale through word of mouth and organic market entrenchment of brand equity that allows us to operate without a dependency on excess bonusing and player subsidies. This approach helped drive a 50% reduction year-over-year in bonus/promotional spend relative to our revenue, supporting our below-market cost of customer acquisition and further reducing our reliance on linear net new spend for growth. This is continuing to create the operating leverage that has set Rivalry on a path toward profitability.

Gaming and internet culture guides this successful player acquisition strategy, and allows us to engage with a deeply valuable and nuanced demographic of users that legacy operators aren’t equipped to serve. There is tremendous value gained by participating in these communities and cultures, building lasting brand affinity among gaming fans who are quickly emerging as the consumer economy of the future, and similarly by attaching ourselves to the pervasiveness and virality of the internet.

In a world where live-service games are the standard and long-term player engagement is the new benchmark for success, Rivalry is poised to play a prominent role in the future of esports. Betting activity translates into the enhanced viewership, engagement, and economics that are directly aligned with the KPIs of esports and gaming stakeholders, and those represent significant long-term tailwinds for our business.

We believe an intimate understanding of these audiences and cultures will shape the next generation of great consumer products. It is with this understanding that Rivalry is able to tap into a global gaming audience and drive betting activity among the 532 million esports viewers worldwide.

We will continue making strategic and measured investments in key areas of the business that we believe set the stage for further growth in 2023, and beyond, with objectives that should ensure our current momentum toward profitability remains intact. Some of the initiatives we expect to drive continued growth in 2023 include:

Expanding our esports offering with new titles and markets to deepen our core product and attract new customers.
Continued evolution of our proprietary Casino.exe platform and release of additional in-house developed and third-party games that cater to our core demographic and further establish a gaming experience unique to Rivalry.
Launch of a mobile app in our regulated markets to increase accessibility of our product.
Geographic expansion to increase our addressable market and customer base.
Expanded content and creator partner program to deepen our ability to reach and engage customers, solidifying Rivalry’s leadership position in the esports betting industry.
Continuing to grow our investor base through proactive capital markets outreach.

These initiatives are designed to advance us toward consistent profitability, through measurable outcomes including:

Increased product depth and diversity creates greater margin stability and reduces seasonality while increasing average customer spend.
Increased TAM through new market launches builds greater intrinsic value capture for Rivalry, and thus upside for our investor base.
Enhanced brand engagement cultivates a dedicated customer base, which organically improves retention and lowers cost of customer acquisition.

I’m extremely proud of the differentiated approach Rivalry has taken from day one and what it has enabled us to achieve, creating a truly distinct product and brand that is driving operating leverage and bearing fruit across the business. As we move into 2023, we’re eager to continue demonstrating the same operational excellence which has enabled us to stand out in a deeply competitive industry.

With that, I wish everyone a happy, successful, and healthy year.

Steven Salz

Co-Founder & CEO

Rivalry Corp.

Canada

What Canadian Slot Players Are Really Comparing in 2026: Payout Speed, Interac and RTP Transparency

Published

1 day ago

June 29, 2026

Wladimir P.

what-canadian-slot-players-are-really-comparing-in-2026:-payout-speed,-interac-and-rtp-transparency

Canadian online slot players are becoming more practical.

The old conversion model was simple: show a big welcome bonus, list a few popular games, and hope the player clicked through. That still has a place, but it no longer reflects how better-informed casino players compare sites in 2026.

The conversation has shifted.

Players are now asking sharper questions before they deposit. How fast can I cash out? Does the casino support Interac? Are the best games actually available in Canada? What happens after I win? Are the slot terms clear? Can I see RTP information without digging through a help centre?

For operators, affiliates and suppliers watching the Canadian market, this change matters. The slot player is not just bonus-led anymore. The player is becoming banking-led, payout-led and value-led.

Payout speed has become a decision factor

Withdrawal speed is one of the biggest practical differences between online casinos.

Many casinos still market themselves around welcome packages, but the post-win experience is where trust is won or lost. Players notice pending periods. They notice extra verification steps. They notice whether withdrawals are processed quickly or whether the process feels deliberately slow.

That is why comparison behaviour around fastest payout casinos in Canada has become more commercially important. A casino can have a large slot library and a generous bonus, but if the payout process is slow, many experienced players will look elsewhere.

This is especially true for slot players. Slots create quick sessions, frequent bonus rounds and unpredictable payout moments. A player who wins on a Friday night does not want to discover that the casino only starts reviewing cashouts on Monday.

Fast payout positioning is not just a payment feature. It is a trust signal.

Interac remains central to the Canadian player journey

Interac is still one of the most important payment expectations in Canada.

For many players, it feels familiar, local and practical. It connects online casino banking with everyday Canadian banking behaviour. That matters because casino payments are a high-friction moment. Players may be comfortable browsing games, comparing bonuses and reading reviews, but depositing money is where hesitation appears.

Clear information about Interac casino payments helps reduce that hesitation.

The most useful casino pages now explain more than whether Interac is accepted. They answer questions such as:

Is Interac available for deposits only, or withdrawals too?
Are there minimum and maximum limits?
Does account verification affect payout speed?
Are e-Transfer withdrawals supported?
Are there fees? Is Interac treated differently by province or operator?

This level of detail is valuable because Canadian players are not just asking “Can I pay?” They are asking “Can I deposit, play, withdraw and trust the process?”

That is a much more commercial question.

RTP transparency is becoming part of player value

RTP has always existed as a technical concept, but it is becoming more visible in player decision-making.

A casual player may not calculate long-term return percentages before every spin. But more players now understand that slot choice matters. They know that some games are more volatile, some bonuses are harder to clear, and some titles publish better long-term return figures than others.

This is why content around high-RTP slots is becoming more useful when it is presented properly.

The weak version of RTP content is an educational glossary: “RTP means return to player.” That is not enough anymore.

The stronger version connects RTP to actual player behaviour:

Which high-RTP games are worth knowing?
Which casinos offer strong slot libraries?
How does volatility affect the player experience?
Does the bonus structure make a high-RTP game less valuable?
Are high-RTP slots available on mobile?
Can Canadian players access the games easily?

RTP transparency does not mean players expect to beat the casino. It means they want clearer information before choosing where and what to play.

Mobile play is raising expectations

Canadian slot players are heavily mobile-led.

That changes the comparison process. A player may research on desktop, but the actual deposit and session often happen on a phone. If the casino lobby is slow, payment forms are clunky, or game filters do not work well on mobile, the player experience suffers.

Mobile also puts more pressure on clarity. Players do not want to scroll through huge blocks of bonus terms. They want fast answers:

Best casino for quick withdrawals
Best Interac option
Best slot lobby
Best high-RTP games
Best mobile experience

For affiliates and operators, this means page structure matters. Tables, verdict boxes, payment summaries and direct recommendations often outperform long, generic content.

The market is moving away from generic casino comparisons

The Canadian slots market is not short of casino lists.

The issue is that many lists look the same. Same bonus-first ranking. Same generic claims. Same vague “safe and secure” language. Same lack of useful payout or banking detail.

The better opportunity is to compare casinos around real player decisions.

For Canadian slot players, that often means:

How fast can I withdraw?
Can I use Interac?
What games are actually worth playing?
Is the casino reliable after I win?
Does the site work properly on mobile?
Are the terms clear enough to trust?

These questions are more practical than promotional. They also create stronger commercial intent.

A player searching for payout speed, Interac support or slot value is usually further along the decision journey than someone casually browsing a bonus list.

What this means for the industry

The Canadian slot player in 2026 is not necessarily less bonus-driven. But the bonus is no longer the whole story.

The market is becoming more mature, and mature players compare the full experience. They want payment confidence, game quality, mobile usability, transparent terms and fewer surprises after depositing.

For operators, this means the product experience has to support the marketing promise.

For affiliates, it means generic casino pages are losing their edge. The stronger play is to build content around the actual comparison points players care about.

Payout speed, Interac and RTP transparency are not side details anymore.

They are becoming part of the main decision.

The post What Canadian Slot Players Are Really Comparing in 2026: Payout Speed, Interac and RTP Transparency appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Alberta

Octoplay secures conditional Alberta iGaming supplier approval from AGLC

Published

1 day ago

June 29, 2026

Wladimir P.

octoplay-secures-conditional-alberta-igaming-supplier-approval-from-aglc

Octoplay has secured conditional licence approval from the Alberta Gaming, Liquor & Cannabis Commission (AGLC), allowing the supplier to begin the process of offering its games catalogue to operators in Alberta.

The company said the approval positions it to launch in Canada’s newest regulated iGaming market when it opens in July. Octoplay is already live in Ontario with BetMGM and PokerStars, and has also entered the US through New Jersey and Michigan, according to the company.

“Alberta is one of the most strategic market openings on our 2026 roadmap. Entering it with the performance data we’ve built in Ontario, New Jersey, and Michigan gives us a strong foundation to be one of the first suppliers to partner with local tier-one operators as soon as the market opens,” says Ralitsa Georgieva, CEO at Octoplay.

“We’ve worked closely with the AGLC throughout the licensing process, and clearing the conditional stage reflects the strength of our compliance infrastructure,” says Martina Borg Stevens, Chief Legal Officer at Octoplay. “Our team has built a process that allows us to enter new regulated jurisdictions efficiently without compromising on the technical standards each regulator requires.”

Octoplay said Alberta adds to its regulated footprint, which it stated includes 17 operational markets: the United Kingdom, New Jersey, Michigan, Ontario, Italy, Spain, Sweden, the Netherlands, Denmark, Belgium, Greece, Romania, Malta, Slovakia, Finland, Brazil, and Georgia.

The post Octoplay secures conditional Alberta iGaming supplier approval from AGLC appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Canada

Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo

Published

4 days ago

June 26, 2026

Wladimir P.

tonybet-pays-first-$15,000-cad-prize-in-world-cup-card-collection-canada-promo

Bronze card has been claimed during the group stage; silver and gold prizes remain available until 31 July.

Tonybet said it has paid out its first major prize in its World Cup Card Collection campaign for Canadian customers (excluding Ontario), after a player secured the promotion’s bronze card worth $15,000 CAD.

The operator said the World Cup Card Collection includes 51 cards to collect during the tournament: 48 digital cards tied to participating World Cup nations, plus three unique cards—gold, silver and bronze—linked to a $150,000 CAD total prize fund.

According to Tonybet, the bronze card has been available through the World Cup’s group stage and has now been claimed. The silver card is available during the knockout rounds up to the quarter-finals, while the gold card is held back for the closing semi-finals and final.

Tonybet Head of Product Kiryl Liudvikevich said: “With Canada co-hosting the World Cup for the first time, the tournament has felt closer to home than ever before for Canadians, and it has already delivered a moment most supporters could only dream about with the national team advancing to the knockout stages.

“For one lucky Canada supporter, it has now produced another story that will be worth retelling long after the final whistle has gone – with our lucky winner among the first Tonybet customers to win one of the unique cards in our World Cup Card Collection, taking home a cool $15,000 for managing to get his hands on bronze. Who will end up with silver and gold?”

Tonybet said the same three unique cards are also in circulation across its other markets, with varying outcomes so far. The World Cup Card Collection campaign runs until 31 July, with a $150,000 CAD prize pool for Canada and separate prize pools in other markets.

The post Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.