Sportradar using Brazil as iGaming platform test market
Speaking to investors and analysts on its Q1 earnings call on Monday, CEO Carsten Koerl said the company had already onboarded 50 clients in the market, using its managed trading services and iGaming marketing solutions.
“Our iGaming strategy in Brazil is to offer a fully integrated 360-degree solution that drives growth across the entire player life cycle. Through ads, we deliver personalised real-time advertising across multiple channels to acquire bettors quickly and cost efficiently,” Koerl said.
Spotradar iGaming natural business fit
Sportradar said that iGaming was a “natural extension” of its business, which largely focuses on integrated betting, trading and sports data services.
“Our existing sportsbook clients already rely on our marketing services to drive customer acquisition. We are leveraging these relationships and experienced a strong test in the market of Brazil under way for iGaming,” Koerl said.
While Koerl noted that it was early days, the group was increasing its portfolio in the market and was receiving feedback from its actions.
“We learn as we speak here. And as you understand, our model here is that we are uniting the acquisition, the retention, the sports betting service and the iGaming in a 360-degree solution.”
“Once we have learned enough, you will see that we scale this in other markets,” Koerl stated.
Sportradar said it globally has 84 iGaming brands using its marketing services to acquire and retain customers and it believes it is “well positioned” to scale that initiative.
Elsewhere in the Brazilian market, Sportradar noted it has signed a multi-year partnership with the Brazilian Volleyball Confederation to safeguard competitions from match-fixing, using the group’s universal fraud detection system. It will also supply metrics and dynamic visualisations for team coaching.
Sportradar first quarter results
Sportradar reported in its first quarter results year-on-year revenue growth of 17% to €311 million ($345 million).
The group’s profit in the quarter was €24 million, up 7.8% year-on-year, with an adjusted EBITDA increase of 25% to €59 million.
Sportradar said it had achieved a customer net retention rate of 122% in the first quarter.
It also noted that it had expanded its partnership with Major League Baseball through 2032. This deal allows the company to continue to distribute ultra-low latency official MLB data, media content and audiovisual content to its client base.
“During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG Arena’s sports betting rights portfolio,” Koerl said.
“We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond.”
Last month, Sportradar agreed to take over Endeavor Group’s IMG Arena asset, in a deal that saw Endeavor pay Sportradar to offload its own business unit.
IMG Arena’s rights cover 39,000 “official data events” and 30,000 streaming events. Following the closure of the deal, Sportradar will hold betting rights to three of the four Grand Slams.