Press Sports raises $ 1.5 million and launches new Android app
Sportradar, the sports betting data provider founded 20 years ago, on Tuesday launched its initial public offering on the Nasdaq at $ 27 per share, leaving the Switzerland-based company valued at $ 8 billion. Shares edged down on day one, hovering around $ 25 as the market closed on Tuesday.
Investors in Sportradar include top sports team executives such as Michael Jordan, Mark Cuban, Ted Leonsis and Todd Boehly. More than 150 sports leagues license their official data to Sportradar, which then distributes this data to more than 900 betting operators and 350 media partners around the world.
“If you go back a few years, it was basically a human being on the site collecting data points. In the digital age now, we are using camera technology and tracker technology, ”said Ed Blonk, commercial director of Sportradar, which bought automated camera tracking company Synergy Sports in March.
Sportradar’s partner leagues include the NBA, NHL, MLB, NASCAR and FIFA. It was previously the official data distributor of the NFL before rival data company Genius Sports Group, which went public through a SPAC merger earlier this year, became the NFL’s betting data partner in April.
Blonk said Sportradar “will certainly see future opportunities” with the NFL and is also monitoring the potential market for regulated college sports betting. Sportradar already provides gambling education and integrity services to some colleges.
“[College sports] will potentially open from a regulated sports betting market, ”he said. “It is very important that tThe money raised is actually reinvested in the development of the sport, the teams and the athletes.