Rivalry, a prominent regulated company in esports and sports betting, has disclosed its financial results for the full year of 2024, showcasing the initial achievements of a comprehensive business transformation aimed at ensuring sustainability and profitability in the long run.
The report highlights a reduction in net losses, significant cuts in operating expenses, and early indicators of improved customer metrics. CEO Steven Salz characterized this period as a «foundational rebuild» designed to streamline and enhance betting operations ahead of 2025.
Rivalry Approaches Breakeven After Strategic Enhancements
In 2024, Rivalry recorded a net revenue of $13.6 million, a decrease from $16.2 million in 2023, while simultaneously lowering operating expenses by 17%, from $38.8 million to $32.2 million. The company’s net loss decreased to $22.4 million, down from $23.8 million the prior year.
«We made tough choices last year, focusing on product development, cost reductions, and optimizing our player engagement strategies. These efforts are starting to yield positive results,» remarked Steven Salz, co-founder and CEO of Rivalry. «The latter half of 2024 laid the groundwork, and we are optimistic about our progress thus far in 2025.»
The company has notably decreased its breakeven revenue threshold, with the monthly breakeven now set at $600,000, a drop from over $2 million per month a year prior. Additional cost-cutting measures are planned for the third quarter of 2025.
Rivalry undertook a significant renovation of its platform infrastructure, concentrating on crypto-centric systems and enhancing user experience. These changes have begun to yield benefits in 2025, with record highs in net revenue and wagers per user (excluding anomalies). Moreover, consistent monthly deposit growth has been observed from November 2024 to June 2025, despite limited marketing expenditures.
The company has also enhanced its marketing funnel and customer acquisition tactics. Since January 2025, the number of new first-time depositors increased by roughly 40%, while spending has remained stable.
Positive Outlook for Esports Bettors
Rivalry’s revival carries significant implications for the esports betting sector, particularly in an environment marked by cautious investor attitudes and regulatory challenges. By demonstrating tangible improvements in player retention, crypto systems, and operational efficiency, the firm could be setting a benchmark for how specialized sportsbooks can grow sustainably without relying on the conventional, capital-heavy strategies of larger competitors.
The company is scheduled to release its financial results for the first quarter of 2025 on or before July 14, 2025. Industry analysts will be closely monitoring this release to determine if Rivalry can sustain its positive trajectory and possibly establish a new pathway to profitability in the increasingly competitive esports betting arena.
Rivalry has established various partnerships within the esports sector, collaborating with teams like Blacklist International and BOOM Esports in Dota 2, as well as players Filipe «Ranger» Brombilla de Barrios and Gustavo «Baiano» Gomes in League of Legends.
