Benzinga Names Sportradar A 'Heavy Hitter' Award Recipient At Inaugural Titans Sports Betting Event

Zinger Key Points
  • Sportradar Group was awarded for its expertise in supplying sports data to the sports betting and media sectors. 
  • Total revenues rose 24% last quarter, while the growth in the U.S. market was 55%.

A leading fantasy sports and sports betting company has been honored with the “Heavy Hitter” award from Benzinga, in the first-ever Titans Sports Betting conference.

What’s A Heavy Hitter?: The Heavy Hitter award is reserved for companies who’ve demonstrated material market share gains, competitive advantages and strategic acclaim. A jury evaluated key criteria including financials, innovative spirit, M&A and compliance.

The Decision: Sportradar Group AG SRAD was selected for its leadership in providing data services to the sports betting industry and helping operators remain ahead of the curve.

Its software solutions include traffic generation, advertising, data collection, processing, and extrapolation, visualization tools, risk management, and platform services.

Revenues rose 24% to €207.6 million ($226.2 million) in Q1 2023 compared to 2022. Sportradar's 2022 revenue was €730.2 million ($781.3 million).

Sportradar CEO Carsten Koerl reported profitable growth for the U.S. business. Revenues in the first quarter of 2023 jumped 55% to €39.7 million ($43.3 million) compared to the first quarter of 2022, driven by higher sales of betting products and digital advertising.

Sportradar is a trusted partner of organizations like NBA, NHL, MLB, NASCAR, UEFA, FIFA, Bundesliga, ICC, and ITF.

Looking forward, the company intends to strengthen its investments in technology and artificial intelligence, data and liquidity efficiency, and its commitment to enhancing client understanding via education and risk awareness.

Benzinga congratulates Sportradar team for providing mission-critical software, data, and content to sports leagues and federations, betting operators, and media companies operating in the U.S.

Next: Sportradar Group AG stock (NASDAQ:SRAD, Analyst Ratings, Price Targets, Predictions

Image: Shutterstock

Posted In: GamingNewsSports BettingEventsTop StoriesGeneralBettingsport bettingSportradar