The Canadian sports-betting platform raised US$20 million from an undisclosed list of investors, including institutional funds and a major Australian gambling operator, with plans to go public later this year. (The Globe and Mail)

Talking point: Rivalry allows gamblers to bet on both traditional sports and e-sports, or competitive video games. The global e-sports industry is on track to pull in more than US$1 billion in revenue this year. In Canada, traditional sports betting may soon get a boost from looser regulations in Canada, after a bill that would legalize gambling on single sporting events passed its first vote in the House of Commons last month. Buoyed by the same factors, Rivalry competitor Score Media and Gaming, which is already on the Toronto Stock Exchange, recently applied to list on the Nasdaq Global Select Market, as well. Rivalry currently focuses on customers under 30 in Latin America who bet on e-sports, but chief executive Steven Salz told The Globe he expects traditional sports betting will account for most of the company’s business in a year.