There are certain movers and shakers in the sports betting industry. The latest addition to the list could be Sportradar. The sports betting data company just entered into a new exclusive deal with the NHL to become its distributor of league data for legal sports betting purposes.
What makes this deal so special is the clean sweep of all four major US betting leagues. Previous exclusive distribution partnerships have already been formed with the NBA, MLB and NFL, much to the joy of people interested in NFL draft betting. With all four major US professional betting leagues in place, there is talk that Sportradar may now go public.
A recent report by Foxbusiness.com speculated that this may be the case. Similar to the other partnerships with major sports, the betting data collected for the NHL includes statistics directly related to the action on the ice.
Examples given were as simple as goals scored and correlating assists. Advanced analytics cover skating speed and shooting accuracy.
Sportradar has the ability to sell this official league data to online casinos, sportsbooks and other operators taking legal wagers on the games.
There was no official comment from any company representatives at Sportradar following the NHL announcement. The company had already established a business relationship with the NHL in 2015 to distribute league data also relevant to the NHL trade deadline.
The major change in the new deal is the ability to distribute the same information for the purpose of legal sports gambling.
As far as Sportradar becoming a publicly traded company, Sportico first mentioned the possibility back in July. That company reported that Sportradar was considering going public.
However, it would be through a special purpose acquisition company. They are referred to a SPAC. This would be in place of a traditional initial public offering (IPO).
Earlier this year in April, DraftKings Sportsbook went public using a SPAC as opposed to an IPO. The overall market value of that company has been growing ever since.
Over the past several years, Sportradar has grown to become one of the biggest sports data firms in the world. The recent growth has been fueled by a much heavier focus on the sports gambling industry. Key company investors include the NFL, Washington Wizards’ owner Ted Leonsis and NBA great Michael Jordan. Considered an emerging market on a global scale, the upside of legal sports betting in the US is extremely high. A flurry of strategic partnerships, sponsorship agreements and specialized collaborations have taken place since the beginning of 2020 with sportsbooks such as BetMGM with bonus code offers.
The current situation has thrown a big monkey wrench into this year’s sports and sporting events’ calendar. However, many of the recent deals have bee struck with an eye to the future.
As more and more states move in the direction of legal sports betting within their individual borders, the overall market will continue to grow at an increased rate. One of the biggest growth segments in the coming months and years will be online sports betting sites.
The existing offshore sportsbook industry still has a very strong foothold in the US market. Legal online US books have only scratched the surface when it comes to the entire sports betting handle in this market with still only a few states, for example, Nevada offering online sports betting.