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Sportradar’s value hits $10 billion range

Sep 4, 2020; Louisville, Kentucky, USA; Two men bet on the second floor of Churchill Downs on Kentucky Oaks day.  Mandatory Credit: Pat McDonogh/Louisville Courier-Journal-USA TODAY NETWORK
Sep 4, 2020; Louisville, Kentucky, USA; Two men bet on the second floor of Churchill Downs on Kentucky Oaks day. Mandatory Credit: Pat McDonogh/Louisville Courier-Journal-USA TODAY NETWORK

One measure of the demand for sports data came in Friday’s report that data firm Sportradar is being valued at more than $10 billion, perhaps up to $12 billion as it shops itself to would-be buyers as well as pursuing a traditional public offering.

The website Sportico reported the figure, citing sources it said were familiar with conversations between the company and suitors as the Swiss data firm decides which path to pursue.

Sportradar aggregates data from an estimated 350,000 sporting events each year, according to Sportico, and the organization’s range of 50 sports includes partnerships with the NFL, NHL, NBA, MLB, FIFA and NASCAR.

Led by a growth in sports-related gambling, particularly the capacity for live betting, Sportradar’s value has increased from $8 billion only a few months ago, which emerged during talks with buyers interested in forming a so-called special-purpose acquisition company (SPAC) to take the company public.

Sportico cited a report from Variety that said live betting makes up some 70 percent of the handle in sports books in Europe, and up to half in the United States. Sportradar is recognized as a leader in potential live-betting capabilities, “which are built on markets as small as the next tennbis point, or the next baseball at-bat,” according to Variety.

–Field Level Media