Rivalry Corp is a platform that allows betting on eSports and other types of games, but the focus is on digital games. According to the survey released by the company, in the first quarter of 2022 growth was 62% compared to the fourth quarter of 2021. In the first quarter of 2022, bets reached US$ 31 million, an increase of 273% compared to to the previous year.
In a press release, Steven Salz, co-founder and CEO of Rivalry, states that the first quarter of 2022 collected the most bets and was a record quarterly revenue in the company's history. “These results demonstrate triple-digit year-over-year growth in all quarters,” said the CEO.
On the platform it is also possible to bet on football and other things, such as reality shows or presidential races, but the focus is on eSports competitions, mainly League of Legends (LOL), Valorant, Free Fire, Dota, Counter-Strike: Global Offensive (CS:GO). Luis Gonçalves, leader of Rivarly in Brazil, explains that championships are held every month, whether in Brazil or in another country, and this moves the betting market.
The sports betting regulation process has been discussed in Brazil for years, but there is still no law implemented to regulate the practice. Precisely because of the lack of standards, Rivarly's website is not registered in Brazil, but can operate normally in the territory.
Gonçalves believes that even if betting is regulated in Brazil, the site's operation should not change much. “The main difference will be the payment of taxes, which will be made to the Brazilian government,” he highlights.
The minimum deposit amount to start betting is BRL 60 and the minimum bet amount is BRL 2. The maximum bet per competition is BRL 5,000. To make the payment, pix, credit and debit card, bank slip are accepted. Although the site is not hosted in Brazil, for Brazilians, deposit and withdrawal amounts - in case of winning a bet - are made in local currency real.
Unlike other bookmakers that accept deposits of up to R$300,000, Gonçalves argues that Rivalry is more concerned with the user's commitment to their money, so that betting is not the financial priority in the consumer's life.
Among the restrictions, only minors under 18 cannot register on the site. “In some cases, we carry out a criminal background check and also seek information to find out if the bets are not made to launder Money,” explains Gonçalves.
For those involved in politics, screening is also more thorough to avoid any money laundering problems.
The platform has been operating in Brazil since the end of 2019 and is now the largest eSports betting company in the country. Still for 2022, the growth expectation is to double revenue.
Source: Valor Investe
