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The Northern Territory Racing Commission in Australia has approved Rivalry's application for a sports bookmaker license, which would allow it to lawfully conduct business throughout the entire country.
The country of Australia is regarded to have one of the world's most valuable betting markets per capita because of its strong sports betting culture and well-regulated gambling. In recent years, the nation has hosted some of the world's major esports competitions, owing to a significant number of gamers in the population who are passionate about online video games.
As a result, Rivalry aims to spend on growing its brand and boosting its client base through a number of marketing activities that will appeal to sports betting aficionados of all ages in Australia. However, Rivalry has been operating worldwide since 2018 under its Isle of Man license, which is the first country-specific regulated market in which the company has secured an online gambling license.
In the near future, the firm intends to grow into additional regulated areas, such as the insurance industry. To provide an example, on February 4, 2022, it became one of the first fully registered operators of online real money casino and sports betting in the Province of Ontario, making it one of the most innovative companies in the industry.
"Expansion into regulated markets across the globe is a key part of our growth strategy, and we couldn’t be more thrilled to officially receive our licence for Australia," said Steven Salz, Co-Founder and CEO of Rivalry.
"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. The approval of the NTRC also demonstrates that we are capable of meeting what are undoubtedly some of the world's highest regulatory standards.”
