Rivalry’s CEO Steven Salz on esports wagering, crypto, Robinhood, Ontario, and a reset

The continuing rise in esports betting – expected to hit $2.5 billion (U.S.) in 2024 – and the partnership between Bet99 and PandaScore which was announced last week – prompted us to bring back Steven Salz to the Gaming News Canada Show presented by GBG Plc. The founder and CEO of Rivalry, which cut its teeth at inception on esports wagering back in 2017, answered our questions about the still-growing engagement by fans and bettors around Fortnite, CounterStrike, Dota2, Valorant, etc. That conversation reminded us of our first encounter with Salz back in 2022 just after the opening of Ontario’s regulated sports betting and online gaming market, when he compared Rivalry with Wealthsimple and Robinhood when referring to its customer base. So, that led us to get Salz’s thoughts on the recent rumbling about Robinhood contemplating a deeper dive into wagering in the aftermath of the U.S. election. He also addressed the growing popularity of crypto as the currency of choice among gamblers, including among the offshore casino industry, and Rivalry’s focus on accelerating its position as a “global, crypto-native operator”. (Salz reminded us that the AGCO’s rules around deposits in Ontario’s legal gambling business forbid the use of crypto). Rivalry has undergone a major transformation in 2024 and Salz expanded on the company’s release of its latest financial results at the end of November. Finally, he gave us some parting thoughts about Ontario emerging as a good story for the company over the past year. Hosted on Acast. See acast.com/privacy for more information.