Rivalry Corp., an internationally regulated sports betting and media company, today announced the approval of its sports bookmaker license by the Northern Territory Racing Commission (Australia) (the “NTRC“) pursuant to the Racing and Betting Act 1983 (NT), which allows the Company to legally operate throughout the whole of the country. Australia is Rivalry’s first fully regulated market, representing a key milestone in the Company’s growth strategy.
“Expansion into regulated markets across the globe is a key part of our growth strategy, and we couldn’t be more thrilled to officially receive our license for Australia,” said Steven Salz, Co-Founder and CEO of Rivalry. “We believe the country’s sport and gaming culture is a great fit for our brand and look forward to connecting with existing fans of Rivalry, and creating many new ones. The approval of the NTRC also demonstrates that we are capable of meeting what are undoubtedly some of the world’s highest regulatory standards.”
Australia has been described as the world’s most valuable betting market per capita.1 It has a strong sports betting culture, supported by a robust regulatory framework. Australia has hosted some of the world’s biggest esports tournaments and has a population of deeply engaged esports fans.2
Rivalry is among the first entrants in Australia to focus on esports betting and the younger Millennial and Gen Z demographic. The Company intends to invest in building its brand and acquiring customers through an expanded toolkit of marketing initiatives that have not been available in its existing markets.
Australia is the first regulated market in which Rivalry has obtained a license. The Company has operated in multiple international markets since 2018 through its Isle of Man license. Further expansion into selected regulated markets is a key element of the Company’s growth strategy. On February 4th, 2022 the Company announced that it became one of the first fully registered operators of internet gaming and sports betting in the Province of Ontario.
The Company is planning to officially launch its product to Australian consumers in the coming weeks.