Financial reports
Rivalry Reports Third Quarter 2024 Results; Rivalry Token Momentum Leading Company’s Crypto-Native Future; Reveals Organizational Realignment, Major Product Revamp
Rivalry Token Captures $3.0 Million in Deferred Revenue; Company Executes Significant Organizational Realignment Throughout the Third Quarter to Reposition Product, Brand, and Team for Crypto Gambling Market; Delivers Substantial Reduction in Operational Expenses; Closes Second Tranche of Non-Brokered Private Placement for $1.0 Million
- As of today, the Company has completed the largest product, brand, and marketing overhaul in its history to support a global, crypto-first strategy and maximize wallet share of high value players (“HVP’s”).
- Average net revenue per user has hit all-time records, increasing 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.
- Rivalry’s current run rate operating expenses are approximately 50% lower as compared to those in this Q3 2024 report. This is a result of its third quarter organizational realignment, and the associated cost savings now being nearly fully realized.
- Crypto-native strategy, led by Rivalry Token, is delivering strong results, with crypto wallet-connected customers generating 200% more revenue than baseline users and retention rates 30% above the average.
- Rivalry closes the second tranche of its previously announced financing for aggregate proceeds to date of $3.0 million, fortifying its balance sheet. The Company was pleased to see support from insiders, family and friends, and long-term shareholders, validating its meaningful organizational transformation executed throughout the third quarter.
- Third quarter betting handle of $79.9 million1.
- Adjusted Revenue of $6.0 million2.
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announced financial results for the three- and nine-month periods ended September 30, 2024. All dollar figures are quoted in Canadian dollars.
“From the start of the third quarter through to the release of these results, we have undergone the most substantive evolution of our business since founding,” said Steven Salz, Co-Founder and CEO of Rivalry. “This work was done to better attune ourselves to an evolving online gambling market where cryptocurrency has become the global payment method of choice, and to align our offering with the experiential expectations of the players driving this industry-wide shift. These initiatives were set in motion during the second quarter alongside the announcement of Rivalry Token, and I’m proud to say we are emerging out the other side of this undertaking as a fundamentally leaner company, and better positioned for growth.”
“Over this period we have completely rebuilt every core element of our product, intentionally designed to service crypto-native users and high value players. We’ve also undergone a comprehensive rebrand, and significantly drawn down marketing spend associated with our prior strategy. Our native crypto token has developed materially, becoming more integrated with our VIP strategy and overall growth plan, allowing us to better scale in this category. On an organizational level, we reduced our headcount by 50% through two workforce rationalizations and adjusted our performance culture, resulting in a more robust and higher output organization, with measurable output climbing over 200%.”
“The immediate financial results of this high-conviction business evolution is that short-term net revenue is down, however we are beginning to go back on the offensive with a completely evolved product, brand, and marketing approach, as well as an operating footprint that presents a much smaller gap to profitability to close. Despite this transitional net revenue impact, we are already observing high signal from our work; in just the two short months since we began to deploy the initial set of crypto and HVP-targeted product releases, our average net revenue per user has hit all-time record levels, increasing by 51% as compared to the 2024 year-to-date average, and by 70% as compared to the trailing three-year average.”
Operational Update
“Earlier this week we finalized the most substantial product overhaul in Rivalry’s history, including a revamped registration flow, login, sportsbook, new crypto-first cashier, completely redesigned casino offering, and a comprehensive VIP rewards program,” Salz added. “We’re confident this entirely rebuilt product set, debuted alongside a more mature, digital-first rebrand, will accelerate Rivalry’s position as a global, crypto-native operator and enable us to capture a high-value player audience.”
“The breakneck pace in which this massive body of work was completed is a testament to the Rivalry team’s motivation to show our multi-year track record of growth and innovation is not just capable of delivering profitability, but also demonstrating market leadership. This will to win is backed by the confidence and conviction that these initiatives will enable us to execute our growth strategy with more torque, underpinned by an overall significantly reduced company cost basis.”
- Sportsbook Overhaul: Rivalry has completed a major overhaul of its sportsbook product, adding over 40 new sports, embedded live streams, match statistics and information, a simplified interface, and more to enhance the user experience.
- Casino Enhancements: Redesigned the casino experience to improve functionality, added a significant amount of new content, and released Casino Races, an interactive way for players to compete against one another and earn rewards based on their wagering activity, all of which builds on Rivalry’s fast-growing iGaming vertical.
- Crypto Payment Integrations: Introduced a crypto-first cashier for faster and more flexible deposit and withdrawal options, enhancing the global user payment experience and positioning Rivalry to gain greater crypto market share. In addition to crypto depositing, players can now also wager with digital currencies, an important offering that deepens the experience for users.
- VIP & Rewards Program Launch: Launched a new VIP program featuring cashback, free spins, monthly, weekly, and daily rewards to strengthen player retention and drive user activity, particularly among high-value players. This asymmetrically rewards larger play so Rivalry’s most loyal players have more reasons to play every day, driving HVP wallet share.
- CRM & Reactivation: Materially enhanced and rebuilt all customer relationship management flows based on deeper business intelligence to improve conversion and reactivate churned players.
- Optimized Registration Journey: Refined the registration journey to reduce friction and expedite user onboarding while remaining compliant.
- Strategic Rebrand: Rivalry has begun rolling out a strategic rebrand across its product and marketing channels to better target crypto gamblers and digital-first players, reinforcing product-market fit among this audience.
- Executive Salary Reduction: Rivalry’s Chief Technology Office Ryan White and Chief Operating Office Kevin Wimer have taken a voluntary 100% reduction in their salaries as of August and September, respectively, while Chief Executive Officer Steven Salz voluntarily reduced his salary by 100% as of October, and now by 50% as of November.
“As part of our broader cost-saving measures and motivation to reach profitability, Rivalry’s founders and executive leaders have all agreed to take a voluntary reduction in compensation,” Salz added. “It’s important that the leadership team share in the sacrifices we’ve asked of our team and shareholders in the near-term as we complete this top-to-bottom realignment and strategy shift which we can now build off of.”
NUTZ (Rivalry Token)
“Our native token continues to create a strong level of alignment with players and act as a cornerstone of our crypto-first and HVP strategy,” Salz added. “In six months, the pre-release of NUTZ, previously known as Rivalry Token, has demonstrated its ability to grow our crypto market share, attract higher-value players, enhance retention, and create long-term engagement loops across our offerings. NUTZ are now deeply connected with our newly released VIP program, together they offer a highly customer-centric experience that will continue establishing lasting player loyalty, increased wallet share, consistent betting activity, and generate higher average player revenue profiles.”
“NUTZ has delivered an additional $3.0 million in deferred revenue within the third quarter, which we see as a great signal of the token finding market-fit among the target audience and within our offering. We expect to generate additional token sales in the fourth quarter, and first quarter next year, with an anticipated launch in early 2025. We have an extensive roadmap ahead of launch, and shortly after, designed to maximize the value proposition of this product for existing users, acquire new customers, and generate revenue for Rivalry.”
- In Q3 2024, NUTZ drove an additional $3.0 million in deferred revenue3. Additional deferred revenue is expected to be accrued for the business throughout the remainder of the fourth quarter and into Q1 2025.
- On average, crypto wallet-connected players generated 200% more revenue than the average non-crypto player on Rivalry.
- Nearly one third of all HVP’s on Rivalry have connected their digital wallet and engaged in our pre-release NUTZ farming program, showcasing high crossover between VIP players and crypto offerings.
- Retention rates for customers opted in to earn NUTZ is 30% higher than non-opted in users.
- Rivalry will soon be releasing a Telegram-native product to generate more user acquisition and engagement for its NUTZ token.
Third Quarter 2024 Highlights
- Betting handle for Q3 2024 was $79.9 million, down modestly sequentially.
- Adjusted Revenue in Q3 2024, inclusive of $3.0 million in deferred revenue for NUTZ, was $6.0 million. Net Revenue was $3.0 million in Q3 2024. The nine months ended Net Revenue was $12.1 million, down 8% from the comparable period in 2023. This is primarily a result of a reduction in marketing spend, and an increasing mix of casino betting handle, which although more stable is lower margin than sportsbook. Additionally, a portion of the recorded marketing spend in the quarter were agreement exit costs, and did not drive player acquisition.
- Average net revenue per user has hit all-time records, increasing 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.
- Rivalry’s current run rate operating expenses are approximately 50% lower as compared to those in this Q3 2024 report as a result of its third quarter organizational overhaul and the associated cost savings near fully realized. This cost structure is expected to support reaching a profitability inflection point.
- Casino accounted for 62% of betting handle and 40% of Net Revenue in the third quarter, up 14% and 2% year-over-year, respectively. Rising casino share is attributed to new content, exclusive games, and continued product development.
- Marketing spend was $2.0 million, down 30% year-over-year. Rivalry had scaled back marketing efforts in the second and third quarters amid its crypto strategy shift and is expected to restart in early December alongside its recently revamped product set and strategic rebrand.
- The Company had $2.1 million of cash as at September 30, 2024.4 Rivalry’s recently closed non-brokered private placement for aggregate gross proceeds of $3.0 million further supports balance sheet and shows endorsement from insiders and investors in strategic business realignment.
- The Company is updating its H2 2024 profitability guidance. “Our efforts in the third quarter have set the foundation for renewed growth, and while we expect near-term profitability, we are temporarily stepping back from providing specific guidance during this transitional period,” Salz added.
Second Non-Brokered Private Placement Closing
The Company also announces the second closing (the “Second Closing“) of its non-brokered private placement of units of the Company (“Units“), previously announced on November 26, 2024 (the “Offering“). Under the Second Closing, the Company issued 6,984,891 Units at a price of CDN$0.15 per Unit, for gross proceeds of approximately $1.05 million. The Company may complete one or more additional closings, for aggregate gross proceeds (together with the proceeds raised under the initial closing and Second Closing) of up to approximately USD $3.0 million. The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes. The subordinate voting shares and warrants, and any securities issuable upon exercise thereof, are subject to a four-month statutory hold period, in accordance with applicable securities legislation. The Company has paid an aggregate of $4,174.98 in finder’s fees in connection with Second Closing.
Staff Stock Option Reprice
The Company also announces that it intends to amend the exercise price of certain previously granted options (the “Subject Options”) to purchase an aggregate of 1,600,828 subordinate voting shares of the Company (“Subordinate Voting Shares”) pursuant to the Company’s 2021 Equity Incentive Plan, as amended from time to time. The Subject Options have exercise prices ranging from $0.81 to $1.10 per Subordinate Voting Share. The Company intends to amend the exercise price of the Subject Options to $0.18 per Subordinate Voting Share. All other terms of the Subject Options will remain unamended. The amendments to the Subject Options are subject to the approval of the TSX Venture Exchange.
“Rivalry’s talent is the most critical determinant of our success. With the changes we have undergone through the third quarter, retaining talent is more critical than ever, and directly linked to ensuring Rivalry’s continued success,” said Salz. “We believe that these contemplated amendments maximize alignment, incentive, and motivation for the team.”
Board of Directors Change
The Company also announces that Kirstine Stewart has resigned as a director of the Company, to be effective December 20, 2024. The Company has identified several new independent director candidates to fill the vacancy to be created by Ms. Stewart’s resignation and expects to provide additional information once available.
“It has been a great pleasure serving on this board and being a part of the incredibly talented and dynamic team at Rivalry for the last three years,” said Kirstine Stewart. “I have utmost confidence that they will continue to redefine the online gambling category and remain a committed and enthusiastic shareholder in that future success.”
“I want to thank Kirstine for her tenure with us as a Director,” Salz said. “Her expertise over the years as we grew from our public listing until today was essential. As we make a strategic shift toward a global crypto-first approach, we will take this opportunity to add to our board and support this exciting new direction for the Company.”
Investor Conference Call
Management will host a conference call at 10:00 a.m. EDT on Friday, November 29, 2024 to discuss the Company’s third quarter 2024 financial results.
Dial-in: | 1-800-717-1738 (toll free) or (+1) 289-514-5100 (local or international calls) |
Webcast: | A live webcast can be accessed from the Events section of the Company’s website at rivalrycorp.com |
A replay of the webcast will be archived on the Company’s website for one year. | |
Rivalry’s financial statements and management discussion and analysis for the period ended September 30, 2024 (the “Q3 2024 MD&A”) are available on SEDAR+ at sedarplus.ca, and on the Company’s website at rivalrycorp.com.
About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Company Contact:
Steven Salz, Co-founder & CEO
[email protected]
Investor Contact:
[email protected]
Media Contact:
Cody Luongo, Head of Communications
[email protected]
203-947-1936
Non-IFRS Measures
Adjusted Revenue, as reported in this news release, is a non-IFRS financial measure that the Company uses to assess its operating performance. Adjusted Revenue is defined revenue, plus deferred revenue from the Company’s native crypto token NUTZ and which is expected to be realized by the Company as revenue upon the launch of NUTZ. This data is furnished to provide additional information and is a non-IFRS measure and does not have any standardized meaning prescribed by IFRS. The Company uses this non-IFRS measure to provide shareholders and others with supplemental measures of its operating performance. As other companies may calculate this non-IFRS measure differently than the Company, this metric may not be comparable to similarly titled measures reported by other companies.
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking statements in this news release include, but are not limited to, statements in respect of the future profitability of the Company, the increase in net revenue per user subsequent to September 30, 2024, the launch of NUTZ and Rivalry’s crypto-first and HVP strategy and the potential impact thereof on the Company’s business prospects.
Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see Q3 2024 MD&A under the heading “Risk Factors”, and other disclosure documents available on the Company’s SEDAR+ profile at sedarplus.ca.
No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Financial Outlook
This news release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for revenue derived from Rivalry’s native token NUTZ and expected to be realized upon the launch of NUTZ, and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading “Cautionary Note Regarding Forward-Looking Information and Statements”. The actual results of the Company’s operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. The Company and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading “Cautionary Note Regarding Forward-Looking Information and Statements”, it should not be relied on as necessarily indicative of future results.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.
Source: Rivalry Corp.
The post Rivalry Reports Third Quarter 2024 Results; Rivalry Token Momentum Leading Company’s Crypto-Native Future; Reveals Organizational Realignment, Major Product Revamp appeared first on European Gaming Industry News.
Financial reports
Outgoing Gamstop Group Chair hails positive safeguarding impact of self-exclusion

- More than 1% of UK adults have self-excluded from licensed gambling sites
- Gamstop Group has become world-leading technology provider in sector
Gamstop Group’s outgoing Chair Jenny Watson CBE has paid tribute to the organisation’s “remarkable journey” since its inception as an industry scheme seven years ago, helping to safeguard hundreds of thousands of vulnerable consumers.
Writing in Gamstop Group’s annual report for the final time, Jenny Watson, who leaves her post as GAMSTOP’s first independent chair in September 2025, says more than 1% of UK adults have self-excluded from licensed gambling sites and there are no signs that the registration rate is slowing down.
“We have made significant progress in our mission to safeguard people from the harms of gambling addiction, positively impacting hundreds of thousands of lives,” she writes.
“Our success is measured not only by the numbers but by the stories of transformation and recovery. Over the years we have heard from many consumers who credit GAMSTOP with helping them regain control over their lives. These personal accounts are a powerful reminder of the importance of our work and the profound impact it has on individuals and their families”.
More than 560,000 people have registered with GAMSTOP since 2018, giving them a practical tool to manage their online gambling. The number of registrations has far outstripped original forecasts, which, she says, shows there is a critical need for effective self-exclusion mechanisms.
Jenny Watson, who was recently nominated for a prestigious Non-Executive Director of the Year award in the not-for-profit category, writes: “I am confident the organisation is well-positioned to achieve the important objective of making gambling safer for everyone”.
She has served as Chair since September 2018 and her replacement is currently being recruited and will be in place by the autumn.
The Gamstop Group now runs two self-exclusion schemes, GAMSTOP for online gambling, and MOSES for betting shops, and is the technology provider for GamProtect, the industry led single customer view project which has come out of its pilot phase with seven operators now integrated.
“We are firmly established as a world-leading technology provider in the gambling harm support sector,” she writes.
In her annual overview, CEO Fiona Palmer predicts that the recently announced changes in the funding mechanism for research, prevention and treatment in the UK will change the landscape for commissioners, national and locally. She says that GAMSTOP heatmap and demographic data can help commissioners navigate new challenges.
“We have made a commitment to them to do this going forward…our priority remains delivering a clear, technically robust exclusion solution to those who need it most,” she adds.
An independent evaluation of GAMSTOP, conducted by Ipsos in 2024, found that 75% of service users no longer gamble online and 78% said GAMSTOP had delivered the results they had hoped for.
The annual report includes case studies of users who credit GAMSTOP with protecting them from gambling harm. Hannah registered for GAMSTOP with her partner after he lost more than £100,000 so that he could not secretly gamble using her details and last year wrote a theatre show ‘Gamble’ detailing her family’s experiences.
“My partner is no longer ashamed of his experience, we talk about his gambling with friends and family, and he supports the show…(he) is in recovery, we have tools in place, and I control our finances” she says.
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Financial reports
BETBY ACCELERATES INTO 2025 WITH TRIPLE-DIGIT GROWTH IN Q1

BETBY, a leading sportsbook supplier, has reported an exceptional start to the year, posting strong Q1 results marked by significant growth in Gross Gaming Revenue (GGR), active bettors across its partner network, and total bets placed. These results reflect the continued evolution of BETBY’s sportsbook solution, the introduction of innovative new products, and strategic partnerships.
Overall sportsbook Gross Gaming Revenue surged by +179% compared to Q1 2024, fueled by the successful launch of new projects and the outstanding performance of key existing clients.
This impressive growth is the result of strategic initiatives led by BETBY’s commercial team, which have substantially expanded the company’s global footprint. During the same period, the number of active players increased by +20% year-on-year, while the total number of bets placed rose by +65%, further highlighting the platform’s growing traction.
In addition to core sportsbook growth, BETBY’s proprietary esports feed, BETBY Games, also delivered robust results, registering a 203% GGR increase resulting from a 37% growth in active players and 64% increase in placed bets. This led to BETBY Games’ share of the supplier’s GGR for Q1 2025 standing at 12%.
Leonid Pertsovskiy, Chief Executive Officer at BETBY said: “These results reflect the strength of our long-term investments in product innovation, team excellence, and strategic partnerships. Our Q1 performance showcases the growing trust our clients have in BETBY and our ability to drive their business growth without ever compromising on quality.”
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Financial reports
Optimove US Gaming Pulse Report – March 2025

Executive Summary – Optimove US Gaming Pulse Report (March 2025)
The March 2025 report analyzes data from over 3.2 million U.S. players and 21 million global players to benchmark performance across casino and sports betting.
Key Insights:
- U.S. Players Spend More: U.S. bettors deposited an average of $538 over the past 12 months — 2.6x higher than the global average.
- Casino Activity Climbs: U.S. casino bettors grew 37% March year-over-year, with average monthly bets reaching $8,511 (6.4x the global average), boosted by state expansions like Rhode Island.
- Sports Betting Spikes with NFL Season: Bettor volume rose 32% in September compared to the baseline. U.S. average monthly sports bet: $1,010 (vs. $404 globally).
- Global Players More Engaged: Global players are active more days per month (+13%) and retain better (70% vs. 65% monthly average).
Conclusion:
Report Metrics:While the U.S. market demonstrates higher player spend and betting volume, global markets show stronger engagement and retention. Continued U.S. growth is closely tied to seasonal events and expanding iGaming legalization, while future success will depend on improving long-term engagement and retention strategies.
- Source: Betting trends in United States compared to the global benchmark in the trailing 12 months (March 2024-2025)
- Database: A 12-month average of 3,270,596 active players per month in the US and 21,308,702 globally.
Category: Average Deposit Amount
Key finding: Average Deposit Amounts Greatest in the US
In monthly average total deposit amounts, the US consistently outpaces the global average, maintaining values more than twice as high throughout the year.
The US average peaked at $602 in August 2024 and again in March 2025, while the lowest point was $466 in February 2025. (The 12-month average was $538.)
Global deposit amounts remained relatively stable, fluctuating between $193 and $225, ending at $206 in March 2025.
Definition of Average Deposit Amount: The average deposit amount is calculated by taking the total sum of all deposits and dividing it by the number of Sports and Casino bettors (players) who have made at least one deposit.
Category: Total Monthly Casino Betting Amount & Number of Casino Bettors Growth
Key findings: The US has been leading in both betting amount and number of casino bettors’ growth since August 2024
Throughout the period, the US consistently outpaced global averages, with an average of $8,511 per bettor through the period compared to $1,327 globally. US ending at $8,536 in March 2025 while the global average stands on $1,329.
In number of casino bettors’ growth, the US market saw significant growth, rising from the March 2024 baseline of 100% to 137% (37% growth) by March 2025. Global growth was more moderate, increasing to 116% over the same period. The most notable growth for the US occurred between August 2024 and January 2025, peaking at 142%.
Legalization of online casino gaming in the US has influenced the growth trends among casino bettors, Rhode Island is the most recent state legalized, having launched its iGaming casinos platform in March 2024.
Definition of Total Monthly Casino Bet Amount: The average casino bet amount is the total sum of all casino bets and divided by the number of bettors who have placed at least one casino bet.
Definition of Casino Bettors Growth Trend: calculated by dividing the total number of casino bettors each month by the number of casino bettors in March 2024, which serves as the baseline (100%).
Category: Total Monthly Sports Betting Amount & Number of Sport Bettors Growth
Key finding: The US consistently outpaced global averages in monthly average sports bet amounts, with a strong seasonality effect observed in the number of sport bettors starting in September, coinciding with the beginning of the NFL season.
Throughout the period, the US consistently outpaced global averages in monthly average sports bet amounts. The US average peaked at $1,166 in March 2024, dipped mid-year, and rebounded to $1,150 by March 2025.
In contrast, the global average remained steady, fluctuating between $362 and $452, and closing at $391 in March 2025.
In terms of the number of sport bettors, the US market experienced a sharp increase starting in September 2024, aligning with the start of the NFL season. Growth surged to 132% in September, peaking at 144% in November, and closing at 112% in March 2025.
Global growth remained more stable, gradually increasing from 100% to 108% over the same period.
Definition of Total Monthly Sport Bet Amount: The average sport betting amount is the total sum of all sports bets and divided by the number of bettors who have placed in least one sport bet.
The Sport Bettors Growth Trend: calculated by dividing the total number of sport bettors each month by the number of sport bettors in March 2024, which serves as the baseline (100%).
Category: Average Number of Activity Days per Active Customer
Key finding: global market consistently maintained a higher engagement level than the US.
- Unlike trends in casino and sports betting, the global market consistently maintained a higher engagement level than the US, with 13% more activity days on average per active customer throughout the period.
- The global average began at 8.71 days in March 2024 and rose slightly to 9.03 days by March 2025, maintaining a relatively stable trend.
- In contrast, the US started at 7.02 days, picked to 8.08 days in March 2025, with a notable low point of 6.82 days in February 2025.
Definition of Average Activity Days: The average number of activity days is the total number of activity days divided by the number of bettors who have at least one activity day.
Category: Average Active Retention Rate
Key finding: Although retention rates remained relatively close, the global market consistently outperformed the US
While retention rates between the US and global markets remained close throughout the period, the global rate consistently outperformed the US in most months.
The global average began at 72% in March 2024 and ended at 73% in March 2025, showing stable performance.
Over the period, US average was 65% compared to the global average of 70%.
Definition of Active Retention Rate: The percentage of bettors who were active in the preceding month and remained active in the current month.
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