A sports data aggregator has extended its partnership with a major legal sports betting operator.
Sportradar has expanded its existing partnership with Caesars Sportsbook to provide the gambling operator with access to NBA optical tracking data — a first for the betting platform.
“As in-play betting increases in prominence in the U.S., the fast, accurate, and reliable data that Sportradar curates will play a critical role in contributing to Caesars’ efforts to maximize revenue opportunities,” said Sportradar CCO Ed Blonk. “We look forward to working closely with Caesars to help them deliver engaging experiences for customers while we monetize our league partnerships.”
The extended deal between Sportradar and Caesars is the result of Sportradar’s exclusive partnership with the NBA for tracking data. Sportradar’s data will allow Caesars to create new player prop markets, enhance same-game parlays, and increase the platform’s live betting options.
Sportradar also provides NBA tracking data for other online betting sites, including Flutter Entertainment’s FanDuel — the largest sportsbook in America in terms of market share at over 45%. Sportradar has also solidified its presence throughout major professional sports leagues in the U.S. with additional partnerships with MLB and the NHL.
Driving profits
Sportradar’s extended partnership with Caesars comes after the Switzerland-based company reported encouraging financial results to start 2023. Sportradar generated $226.2 million in revenue in Q1 2023 — a 24% increase year-over-year. The company’s U.S. segment reported $43.3 million in revenue during the quarter — up 55% compared to Q1 2022. Sportradar’s results in the U.S. were driven by increased sales of betting and digital advertising products.
The company saw its Rest of World segment post $118.3 million in revenue in Q1 2023, making up 52% of total revenue. The 25% increase compared to Q1 2022 was driven by live betting.
Sportradar is poised for more growth following a renewed partnership with the Big Ten Network to power its BIG+ streaming platform. The company has also secured global data and streaming rights for the Association of Tennis Professionals starting in 2024. Sportradar projects full-year revenue in 2023 to range between $983.2 million and $1 billion — up 25% compared to 2022.
