Canadian Online Casino News: Rivalry Sees Boost in High-Value Players

Posted on: January 8, 2025, 10:27h. 

Last updated on: January 8, 2025, 11:02h.

Mark Keast Read More
Expertise: Canadian Gaming, iGaming, Las Vegas, Sports Betting, NFL, Boxing, UFC.

Toronto-based Rivalry heads into 2025 having just completed a major product, brand, and marketing overhaul, including a crypto-first strategy plus a renewed focus on online casinos and high-value players.

Toronto-based Rivalry launches into 2025 after a product and branding overhaul, including a renewed focus on online casino and high-value players. (Image: Rivalry)

Specifically, Rivalry CEO Steven Salz points to a list of changes including a revamped registration flow, login, sportsbook, a new crypto-first cashier, a redesigned casino offering, and a comprehensive VIP rewards program.

Salz tells Casino.org that activation of the VIP program, while introduced with the release of the company’s Q3 2024 financial results on November 29, is being ramped up this week.

Some particulars include:

  • Rivalry VIP is a rewards program that allows users to unlock perks and benefits, including cashback and free spins, as well as monthly, weekly, and daily rewards through their betting activity, such as sports betting and casino.
  • Player benefits increase as they earn XP and rank up through 80 different levels offering higher deposit bonuses (up to $6,000 match), increased cashback percentages (up to 11%), and a multiplier on the amount of NUTZ (their native token) they receive from their wagers.

Organic Growth

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

Rivalry has been a feel-good story in Ontario’s crowded, regulated iGaming scene, storming out of the gates in 2022 with a focus on esports, internet culture, and building brand affinity with the next generation of bettors while pushing organic growth with minimal marketing expense.

In 2024 Rivalry reported that 82% of its active users are under 30.

Change in Focus

Since its launch, Rivary’s focus has changed. Esports is still part of the mix, but another spokesperson there said the company has been seeing an appetite for sports and casino, especially as they’ve shifted into crypto and broadened their audience to new personas.

Casino has grown quite a bit over the last several quarters. It accounted for 62% of Rivalry’s global betting handle in Q3 and in Q2, they saw that two-thirds of their betting handle from NUTZ token users was bet on casino.

Their native token product is positioned to serve a number of the near and long-term goals for the company, to expand their geographic footprint, and acquire and retain high-value players, which they are beginning to see, Salz added.

Online Casino: Crowded Market

“In just a few months, Rivalry Token has attracted new customers who are twice as valuable as our average user and marked the most successful reactivation campaign in the Company’s history.”

Rivalry’s Q3 report (ended Sept. 30, 2024) was highlighted by an all-time high in average net revenue per user.

The company’s third-quarter betting handle was CA$79.9 million (US$57 million), a slight decrease. Adjusted revenue was CA$6 million (US$4.3 million).

Average bet revenue per user increased by 51% “as compared to the average of the trailing 2024 period, and by 70% as compared to the trailing three-year average since launching the initial set of new product features in October,” the company said.

Net Revenue Per User Increases

The token product from crypto-wallet-connected players generated CA$3 million (US$2.1 million) in deferred revenue (200% more revenue than the average noncrypto player on Rivalry) in Q3.

The Ontario market is a crowded one. According to iGaming Ontario statistics, the Ontario regulated market, which launched in April 2022, now has 50 licensed operators, and 82 gaming websites (72 of those with online casino offerings).

Government-owned Ontario Lottery and Gaming Corporation (OLGC) reports its own total gross online casino and sports betting revenue. In FY 2023-24, OLGC reported gross revenue of CA$630 million, up from CA$561 in 2022-23.

The Ontario private market, not including OLG, saw CA$64 billion in total wagers in FY 2023-24 (April 1, 2023, to March 31, 2024), and CA$2.4 billion in gaming revenue.

Titanplay Goes Mobile

As first reported by Canadian Gaming Business, Titanplay, which offers online casino, live betting, esports and sports betting, now has a mobile offering, via its partnership with Delasport. Titanplay is operated by Shark 77 Ltd., based in Malta, and launched in Ontario in June 2024.

“Having a mobile-first approach when developing products is a must in today’s iGaming industry,” said Delasport CEO Oren Cohen Shwartz in a written statement. “Data shows that mobile users are now more than 70% of the whole player base, so we make sure to be prepared to bring our partners to this thriving market at any point. This is the case with Titanplay who’ve had an incredibly successful launch in Ontario last year and are now ready to win even more players.”