Welcome to our dedicated page for Sportradar Group news (Ticker: SRAD), a resource for investors and traders seeking the latest updates and insights on Sportradar Group stock.
Sportradar Group AG (NASDAQ: SRAD) is a leading global sports technology company, founded in 2001, dedicated to transforming the sports, media, and betting industries through innovative data solutions and digital content. With a workforce of over 1,650 professionals spread across more than 30 locations, the company proudly serves over 1,000 clients in more than 80 countries.
Sportradar specializes in providing advanced technological solutions to a diverse client base, including media outlets, bookmakers, sports federations, and governmental authorities. The company's core business revolves around leveraging sports data powered by artificial intelligence to enhance user engagement and enable next-generation sports experiences.
One of Sportradar's flagship products is the Alpha Odds, an automated odds recalculation tool launched in 2022. This solution has been instrumental in delivering an average profit increase of 10% for its clients in 2023. Alpha Odds utilizes enhanced AI models to provide accurate predictions and real-time risk management, thereby improving trading efficiency by 11%.
In addition to its robust product offerings, Sportradar maintains strong partnerships with major sports organizations such as the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga. The company covers nearly a million events annually, ensuring comprehensive data and support for its clients.
Sportradar has also made significant strides in financial transparency and reliability. The financial reconciliation capabilities of Alpha Odds have been certified under the ISAE 3402 Type 1 standard by PwC, highlighting the accuracy and dependability of its computational methods.
Financially, Sportradar's revenue streams are primarily derived from subscription-based models and revenue-sharing agreements. The company's commitment to innovation and quality service is reflected in its ongoing projects and clientele satisfaction.
For more information about Sportradar Group AG, visit www.sportradar.com. The company continues to be a key player in driving the future of sports technology and data services.
Sportradar Group AG (NASDAQ: SRAD) announced its participation in the Needham Virtual Growth Conference on January 10, 2022. CEO Carsten Koerl and CFO Alex Gersh will be available for one-on-one and small group meetings with investors.
As a leading global sports technology company, Sportradar creates immersive experiences for sports fans and bettors. With over 2,300 employees across 19 countries, Sportradar serves more than 1,600 customers globally, covering 750,000 events annually across 83 sports.
Sportradar Group AG (NASDAQ: SRAD) recently announced significant accolades recognizing CEO Carsten Koerl's leadership as the company transitions into a publicly traded entity. On December 14, SBC awarded Koerl as “Leader of the Year,” alongside recognition for Betradar as Platform Provider of the Year and other product awards. Koerl's influence in developing technology for the booming U.S. sports betting market, projected to rise from $1B in 2019 to $23B over the next decade, further solidifies Sportradar's position as a key player in the sports and betting industries.
Sportradar (NASDAQ: SRAD) announced the appointment of Rima Hyder as Senior Vice President, Head of Investor Relations, effective immediately. With nearly 20 years of experience, she aims to enhance investor communication during a pivotal growth phase for Sportradar. Hyder previously held senior roles at FactSet and Houghton Mifflin Harcourt, where she led significant investor relations initiatives. CFO Alex Gersh expressed optimism about Hyder's leadership as the company pursues ambitious goals. Sportradar operates at the intersection of sports, media, and betting, serving over 1,600 clients globally.
Sportradar has announced a new multi-year sports betting partnership with PointsBet, making it PointsBet’s preferred supplier for MLB, NBA, NHL, and college sports data.
This deal marks Sportradar's sixth such agreement with a multi-state U.S. betting operator in 2021, further solidifying its position as a leading provider of real-time sports data. The partnership includes pre-match and live betting services, enhancing PointsBet’s in-play betting capabilities.
Both companies aim to leverage the growing popularity of in-play betting in the U.S.
Sportradar Group AG (NASDAQ: SRAD) has expanded its partnership with the NBA, WNBA, and NBA G League to become the exclusive worldwide provider of their data.
This multiyear agreement, effective from the 2023-24 NBA season, includes an equity stake for the NBA in Sportradar and enhanced rights for player tracking data. The partnership aims to increase fan engagement and improve the fan experience through innovative data products.
The deal builds on a relationship initiated in 2016 and underscores Sportradar's commitment to supporting the leagues in navigating the global sports betting landscape.
Sportradar Group AG (NASDAQ: SRAD) reported a strong 30% revenue increase to €136.8 million in Q3 2021, compared to Q3 2020. The U.S. market drove this growth, with a 119% rise in U.S. revenue to €19.6 million. Adjusted EBITDA rose 21% to €20.9 million, despite IPO-related costs impacting margins. The company’s Dollar-Based Net Retention Rate improved to 128%. With a solid cash position of €768.4 million and total liquidity of €878.4 million, Sportradar projects full-year revenue of €553-555 million, reflecting a growth of up to 37.1%.
Sportradar has entered into a multi-year agreement with the International Handball Federation (IHF) to provide integrity monitoring for global handball events. Utilizing the Universal Fraud Detection System (UFDS), Sportradar will monitor betting patterns for major events including the World Championships and the IHF Super Globe. Their experience highlights a significant record of detecting suspicious matches, with over 6,500 incidents noted since inception, emphasizing the importance of safeguarding sports integrity. This partnership aims to enhance integrity measures across all levels of handball.
FIBA 3x3 has partnered with Sportradar (NASDAQ: SRAD) to ensure competitive integrity in its basketball competitions through the Universal Fraud Detection System (UFDS). This initial one-year agreement will monitor over 2,800 games each season, including major events like the World Cup and Zone Cups. The UFDS will analyze betting patterns to identify irregularities, helping combat match-fixing. Sportradar will provide these services at no cost, emphasizing their commitment to safeguarding sports integrity.
Sportradar has secured agreements with the EasyCredit Basketball Bundesliga and the Slovak Basketball Association to implement its Universal Fraud Detection System (UFDS) to enhance competition integrity. This two-year deal will cover approximately 650 matches across various competitions, with Sportradar supplying monitoring and investigative services at no cost. The UFDS, recognized for its effectiveness in combatting match-fixing, will provide essential insights into betting patterns. Industry executives from both organizations highlighted the significance of this partnership in safeguarding fair play.
Sportradar Group AG (NASDAQ: SRAD) has obtained an Online Gaming Service Provider license in Connecticut and renewed its Sports Wagering Supplier license in West Virginia. With a total of 20 licenses in the US, Sportradar aims to enhance the integrity and accuracy of sports data for state-run betting agencies. CEO Arne Rees stated that these licenses reflect the company's commitment to high-quality services and ethical standards as the sports betting market expands in the US. Connecticut recently launched online betting in October 2021, marking its entry into the sports wagering landscape.
FAQ
What is the current stock price of Sportradar Group (SRAD)?
What is the market cap of Sportradar Group (SRAD)?
What is Sportradar Group AG?
What does Sportradar specialize in?
What is Alpha Odds?
Who are Sportradar’s primary clients?
How many events does Sportradar cover annually?
What are Sportradar’s main revenue sources?
What certifications has Sportradar achieved?
Who are some of Sportradar's partners?
How many people does Sportradar employ?
Where can I find more information about Sportradar?
