Sportradar’s Alpha Odds Increased Profits By 15% for Operators Across UEFA Euro 2024 Qualifying Matches

Rhea-AI Summary

Sportradar's Alpha Odds, powered by cutting-edge AI technology, increased profits for sportsbook operators by an average of 15% during the UEFA Euro 2024 Qualifying Matches. The product leverages advanced AI to predict game events accurately, allowing operators to manage risk more effectively and generate bespoke betting prices. With the upcoming UEFA Euro 2024 expected to bring in over €62.2 billion in global betting turnover, operators can maximize profits by utilizing Alpha Odds.

Positive

• Sportradar's Alpha Odds increased profits for sportsbook operators by 15% during the UEFA Euro 2024 Qualifying Matches.

• Alpha Odds utilizes advanced AI technology to predict game events accurately, enabling operators to manage risk effectively and generate customized betting prices.

Negative

• None.

Cutting-edge AI in Alpha Odds empowers operators to optimize trading efficiency and risk management

ST. GALLEN, Switzerland, May 13, 2024 (GLOBE NEWSWIRE) -- Alpha Odds, Sportradar’s (NASDAQ: SRAD) AI-driven personalised odds technology, boosted profits for sportsbook operators by an average of 15% during the UEFA European Championship Qualifying Matches.* With the upcoming UEFA Euro 2024 anticipated to generate more than €62.2 billion in global betting turnover, operators can maximize profits and manage risk by utilizing this product during the quadrennial tournament.

Launched in 2022, Alpha Odds leverages Sportradar’s advanced AI technology to more accurately predict the probability of a game event taking place, enabling operators to manage their risk more effectively. When combined with real-time and predicted liquidity, Alpha Odds allows operators to generate bespoke betting prices in line with their risk exposure and liabilities.

As examples of how Alpha Odds increased profitability for operators during the UEFA Euro 2024 Qualifiers, where one team was heavily favoured, Alpha Odds helped clients manage risk in real-time and continue to accept bets as goals were tallied and the scoreline grew. Additionally, while a conventional odds service would have left operators vulnerable to a matchday of customer friendly results, such as all the favourites winning at home by two or more goals, Alpha Odds’ predictive capabilities enabled instant adjustments, safeguarding sportsbooks against significant losses, as a match unfolded.

Darren Small, Senior Vice President of Managed Trading Services (MTS) at Sportradar said: “The predictive capabilities that Sportradar has developed for Alpha Odds are proving to be a game changer ahead of this summer’s tournament, enabling operators to consistently improve profitability and deliver higher margins across soccer betting.”

Alpha Odds is available across Sportradar’s portfolio of betting markets for soccer and tennis, both pre-match and in-play. The solution will be expanded across basketball later in 2024.

*Based on an analysis of more than 11 million betting tickets placed across 60+ Sportradar clients for the qualifying matches held between March 2023 and March 2024.

About Sportradar 
Sportradar Group AG (NASDAQ: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports, media and betting industries, the company provides sports federations, news media, consumer platforms and sports betting operators with a best-in-class range of solutions to help grow their business. As the trusted partner of organizations like the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA and Bundesliga, Sportradar covers close to a million events annually across all major sports. With deep industry relationships and expertise, Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved. 

For more information about Sportradar, please visit www.sportradar.com.

Sportradar Contacts

Media:
Sandra Lee 
press@sportradar.com

Investor Relations: 
Jim Bombassei 
Investor.relations@sportradar.com

FAQ

How much did profits increase for sportsbook operators using Sportradar's Alpha Odds during the UEFA Euro 2024 Qualifying Matches?

Profits increased by an average of 15%.

What technology powers Alpha Odds by Sportradar?

Cutting-edge AI technology.

What is the stock symbol for Sportradar?

SRAD

When was Alpha Odds launched?

Alpha Odds was launched in 2022.

In which sports markets is Alpha Odds available?

Alpha Odds is available for soccer and tennis markets, both pre-match and in-play, with plans to expand to basketball later in 2024.

What was the estimated global betting turnover for the upcoming UEFA Euro 2024 tournament?

Over €62.2 billion.

How does Alpha Odds help operators manage risk during matches?

Alpha Odds allows operators to make real-time adjustments based on predicted liquidity and game outcomes, safeguarding against significant losses.

Who stated that Sportradar's predictive capabilities in Alpha Odds are beneficial for improving profitability in soccer betting?

Darren Small, Senior Vice President of Managed Trading Services (MTS) at Sportradar.