Sportradar Tests iGaming Services in Brazil
Sportradar is using Brazil as a test market for its iGaming services, aiming to boost operator growth throughout the lifecycle of all bettors.
During a recent presentation of first-quarter results, CEO Carsten Koerl stated that the company has already integrated 50 clients in the market, utilizing its managed trading services and iGaming marketing solutions.
“In Brazil, regarding iGaming, we have adopted a strategy of offering a fully integrated 360-degree solution that drives growth throughout the bettor’s lifecycle. Through advertisements, we offer personalized, real-time advertising across various channels to acquire bettors quickly and cost-effectively,” Koerl explained.
Sportradar and iGaming: A Natural Business Combination
Sportradar views iGaming as a “natural extension” of its business, which focuses on integrated betting, marketing, and sports data services.
“Sports betting clients already rely on marketing services to drive customer acquisition. We are leveraging these relationships and conducting intense testing in the Brazilian market for iGaming,” Koerl added.
While acknowledging that they are still in the early stages, the group is expanding its portfolio in the market and receiving feedback on its actions.
“Right now, we are learning. And, as you know, in our model, we combine acquisition, retention, sports betting services, and iGaming into a 360-degree solution.”
“Once our learning is up to par, we will expand to other markets,” Koerl stated.
Sportradar claims to have 84 iGaming brands worldwide using its marketing services to acquire and retain customers and believes it is “well-positioned” to scale this initiative.
Elsewhere in the Brazilian market, Sportradar announced a multi-year partnership with the Brazilian Volleyball Confederation to protect competitions against match-fixing, using the group’s universal fraud detection system. This system will also provide metrics and dynamic visualizations for team guidance.
Sportradar’s First Quarter Results
Sportradar reported a 17% year-over-year revenue growth in its first-quarter results, reaching €311 million.
The group’s profit for the quarter was €24 million, a 7.8% increase compared to the previous year, with a 25% increase in adjusted EBITDA, reaching €59 million.
Sportradar states that it achieved a net customer retention rate of 122% in the first quarter.
Furthermore, it also reports that it has expanded its partnership with Major League Baseball until 2032. This agreement allows the company to continue distributing official league data with ultra-low latency, media content, and audiovisual content to its customer base.
“During the quarter, we also broadened and expanded the partnership with Major League Baseball to further strengthen the portfolio of differentiated content, in addition to signing an acquisition agreement for the sports betting rights portfolio of IMG Arena,” Koerl said.
“We are excited about the unique opportunities that these valuable properties will provide to our customers and look forward to generating added value for our shareholders in 2025 and beyond.”
Last month, Sportradar agreed to take over the IMG Arena asset from the Endeavor Group, in a deal that saw Endeavor pay Sportradar to divest its own business unit.
IMG Arena’s rights cover 39,000 “official data events” and 30,000 streaming events. After the deal closes, Sportradar will have betting rights to three of the four Grand Slams.
Stay ahead of the curve in the fast-paced online casino world – explore the latest updates and trends at listofallcasinos.com.
