Sportradar has strengthened its position in the US sports betting industry by extending its existing partnership with prominent operator FanDuel.
The contract renewal will see Sportradar continue to serve as the data and odds supplier for US sports for FanDuel until 2028, with the Swiss sports data and analytics company providing products and services including pre-match and live betting services as well as betting entertainment tools such as live match trackers and betting digits.
Furthermore, the extension maintains Sportradar’s status as a data provider in the US sports space, as the agreement covers fixtures from major tournaments including the National Basketball Association (NBA), National Hockey League (NHL) and Major League Baseball (MLB).
The announcement closely follows the news that Sportradar will be pursuing an Initial Public Offering (IPO) of its ordinary shares, as the firm targets registration on the NASDAQ Global Market under the ticker symbol SRAD.
“With FanDuel being the leading US sportsbook, this deal further underscores Sportradar’s position as the data and odds supplier of choice for US sports, including the NBA, MLB, and the NHL,” said Carsten Koerl, Global CEO, Sportradar.
“Both Sportradar and FanDuel have established market leading positions through investment in innovation and cutting-edge products and services and this expanded agreement enables us to work together to further evolve FanDuel’s offering, particularly in areas like in-play betting. We’re looking forward to deeper integration with the FanDuel team to continue building on the success we’ve had together thus far.”
For FanDuel, the expanded partnership represents an opportunity for it to bolster its own position in the US by leveraging Sportradar’s data services for popular tournaments and markets, as the sports betting space in the country continues to grow.
The operator aims to enhance its In-Play betting experience – which the company describes as ‘a true second screen companion for sports fans’ – for its sportsbook customers, with the market accounting for nearly 50% of its overall sports wagering handle, particularly moneyline and spread offerings.
Niall Connell, Sportsbook General Manager at FanDuel Group, remarked: “Low latency live data is the essential fuel for our proprietary trading models to deliver a quality in-play betting experience to our customers.
“Sportradar’s data powers our in-house models allowing us to offer a large number of in-game betting markets and it’s the collaborative nature of our partnership that will evolve FanDuel’s in-play product offering in the years to come.”