It was way back in 2001 that Australia became one of the first countries to openly address the legality of online gambling. With the passing of the Interactive Gambling Act of 2001, laws were put in place to regulate and govern the practice of online gambling within Australia. Today, the country is reportedly the world’s most valuable betting market per capita, and now, Rivalry, an iconic sports and esports betting platform, can take advantage of that value.
Recently, it was revealed that Rivalry had officially been approved for a highly sought-after Australian bookmakers license. As an entry point into one of the most valuable markets in the world, an Australian betting license is remarkably difficult to acquire. There’s a lengthy and expensive application process, and entry requirements are extremely strict. With the acquisition of this gambling license, Rivalry is now free to operate within the entire country of Australia.
What does this mean for the firm?
Rivalry, Without Rivals
With the entry into the Australian betting market, Rivalry becomes one of the first esports-focused platforms to operate within the country. While Rivalry is a hybridized platform, a vast portion of its offering is centered around the rapidly expanding esports betting market. Since 2018, Rivalry has operated through a betting license issued in the Isle of Man. This has enabled the company to trade in several international markets, but this is the first time the company has obtained a license in a fully regulated market.
In a statement given to the press, Steven Salz, the CEO of Rivalry, said:
Expansion into regulated markets across the globe is a key part of our growth strategy, and we couldn’t be more thrilled to officially recieve our license for Australia. 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.
By unlocking the ability to operate within Australia, Rivalry has proven that it is capable of meeting strict, intense regulatory standards. This level of safety and reliability is something that we discussed in our comprehensive Rivalry review. As a platform, Rivalry has long been developing a loyal following, pushing out a brand that stands apart from the competition. It boasts a clean platform that includes proprietary mechanics and functions, as well as attractive promotions, bonuses, and a wide range of esports betting markets.
Now, bettors in Australia will be able to take advantage of this platform. Whether they’re interested in CSGO betting, PUBG markets, or even traditional sports markets, Rivalry has them well and truly covered.
Australia: A Valuable Nation
As we’ve already said, Australia is, per capita, the most valuable betting market in the world. There’s a dense concentration of gamers and bettors in the country, and esports as an industry is on the up across the nation. It’s expected that by 2025, interactive games and esports revenue in Australia will reach approximately $5 billion, growing at a healthy CAGR of around 7.5%.
In 2021, it was revealed that more than 2.3 million Australians regularly tuned in to watch esports tournaments. That’s just under 10% of the entire population of the country. Reportedly, the COVID-19 pandemic caused a surge in the popularity of gaming and esports across Australia, and it’s an upwards trend that continues to climb.
As time goes on, more investment opportunities will arise in and around Australia’s esports scenes – and of course, that includes esports betting. With Rivalry’s entrance into the Australian betting market, other top-tier esports betting sites may follow suit.