The esports betting scene in May was largely dominated by financial results, with the likes of Rivalry and EEG announcing their latest reports. However, the month also featured significant movements by betting companies that are looking to expand globally.
In Play, sponsored by Oddin.gg, collates May’s most important stories within the esports betting scene into one digestible report. To view the stories in more detail, click the headline of the corresponding article.
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It should come as no surprise that betting companies have identified opportunities in the esports market as it continues to experience rapid growth.
As a result, bookmakers — endemic and non-endemic — are rapidly changing the sponsorship landscape, similarly to how betting partnerships now dominate most traditional European sports.
Esports betting company Rivalry has announced its financial results for the first quarter of 2022.
The company recorded increased revenue and sizeable growth in its betting handle. However, Rivalry’s loss also increased, as did its operating expenses.
Moreover, Rivalry also launched its online sportsbook in Australia. In February, Rivalry was awarded a sports bookmaker license from the Northern Territory Racing Commission, allowing the bookmaker to operate throughout the entirety of Australia.
Generationz Gaming Entertainment, a subsidiary of Canadian esports and iGaming company React Gaming Group, has signed a white-label agreement with Philippine iGaming licence-holder HHRP Inc.
As a result of the agreement, Generationz will operate LOOT.BET’s esports wagering platform in the Philippines on HHRP’s site on a revenue-sharing basis, pending certification from iGaming certification service Gaming Laboratories International.
Esports data platform GRID has announced that its former VP of Business Development, Mikael Westerling, has been promoted to Chief Sales Officer.
In his new role, Westerling will work with betting brands relying on GRID’s data to power their offerings in the esports vertical.
Esports betting and entertainment company Esports Entertainment Group (EEG) has announced that it will revise its current portfolio of assets following liquidity concerns.
During EEG’s Q3 2022 fiscal year financial report, which ended 31st March 2022, the company announced a $38.6m (~£30.87m) impairment charge related to its esports assets Helix, ggCircuit and EGL.
European esports organisation ENCE has announced a partnership with Asian esports betting platform Jing Ji Bao.
According to the release, the partnership will look to bolster ENCE’s reach within the Asian market. The organisation will join social media platform Weibo and create content on the platform in Chinese.