• Loading stock data...
Friday, March 29, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

Sportradar Hits $180M in Q2, Eyes Growth in U.S. and Metaverse

  • Sportradar took in $180 million in the second quarter.
  • The company saw the largest percentage growth in the U.S. among its segments.
Sportradar
Sportradar

Sportradar banked a strong second quarter as it looks to the U.S. and immersive technologies for future growth.

The sports data and technology giant saw revenue rise 23% year-over-year to $180.2 million.

  • U.S. revenue leapt 66% to $29.6 million, but the company still took a $5.6 million loss in the country.
  • Sportradar’s gambling-related revenue in the rest of the world remained its core revenue driver, growing 21% year-over-year to $95.5 million.

“The U.S. is getting more and more important,” said Sportradar CEO Carsten Koerl. “We don’t see the growth slowing down.” Koerl added that the company’s U.S. losses have been steadily shrinking as the sports betting market grows.

“I think it’s very obvious that this is a scalability exercise,” he said.

Koerl noted that U.S. sports fans have a “deep understanding of how data is consumed,” which he noticed regularly when he lived in New York.

“I would walk to Times Square, and I saw so much data for baseball or football. We don’t have that in Europe.

Going Meta

It may take until the second half of this decade, but Koerl sees metaverse and VR technologies eventually being integral to the sport-consuming experience and Sportradar’s business.

“I think sports and betting is perfect for virtual reality and the metaverse,” he said. “All the big producers of gaming consoles are very interested.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Bookie at Center of Ohtani Scandal Reportedly Encouraged Belief Star Was a Client

Mathew Bowyer is said to have allowed customers to think Ohtani bet with him, to boost business.

Report: Match Fixing Hasn’t Slowed. What’s New: AI Is Watching Now

A sports data company is increasingly using advanced tech to detect suspicious activity.

U.S. Sports Betting Sets Records in 2023 for Handle, Revenue

American Gaming Association reports record wagering totals for last year.
Feb 11, 2024; Paradise, Nevada, USA; A general view as the Kansas City Chiefs celebrate after defeating the San Francisco 49ers in overtime in Super Bowl LVIII Allegiant Stadium.

Nevada Sets State Record for Super Bowl Bets

State’s gaming control board reported $185.6 million was bet on Chiefs-49ers.
podcast thumbnail mobile
Front Office Sports Today

Why the Timberwolves Sale was Called Off

0:00
0:00

Featured Today

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.
March 27, 2024

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.
March 26, 2024

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S
March 24, 2024

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers

NCAA Wants to End Prop Betting on College Sports. Will It Succeed?

The announcement comes just days after the NBA began investigating a prop scandal.
March 27, 2024

It Remains Unclear Which Authorities Shohei Ohtani Has Reported Theft of Millions to, If Any

A federal investigation is ongoing, but it’s not clear what it covers.
March 27, 2024

NCAA President Calls for Nationwide Ban on College Prop Bets

The NCAA president is reacting to the recent betting turmoil in sports.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
March 26, 2024

Grading Ohtani’s Explanation: ‘I Would Give It an A’

A crisis management expert gives his reaction to Front Office Sports.
March 26, 2024

NBA Investigating Raptors Center Jontay Porter Over Suspicious Prop Bets

The league is looking into ‘multiple instances of betting irregularities’ in recent months, ESPN reported.
March 25, 2024

Ohtani Emphatically Denies Any Knowledge of Translator’s Gambling

The MLB superstar insists his former translator has engaged in ‘theft and fraud.’
March 25, 2024

Ohtani Will Address Betting Situation. Will He Provide Clarity?

MLB said an investigation into the betting scandal is underway,