Sportradar (NASDAQ: SRAD) today announced the opening of an office in São Paulo, Brazil, marking a major milestone in its strategic expansion into the country and across Latin America. This move reinforces Sportradar’s continued commitment to Brazil and reflects the dynamic growth potential of the country’s soon-to-be regulated sports betting market.
Brazil has the potential to become one of the largest regulated sports betting markets in the world, with online gross gaming revenue (GGR) projected to more than double over the next five years, from R$18.4 billion (USD3.18 billion) in 2023 to R$50.5 billion (USD8.75 billion) in 2029. The opening of the Sao Paulo office enables Sportradar to strengthen its local presence, foster deeper relationships with clients and better support the development of the regulated Brazilian sports betting market.
Sportradar has been active in Brazil for nearly a decade, providing sports betting operators with innovative, AI-driven fan engagement solutions to establish market share and drive growth. The company has also partnered with leading regional and local sports federations across soccer, volleyball and basketball, helping them monetize their data and protect the integrity of their competitions, as well as forged formal working agreements with the Brazilian Federal Police and Ministry of Finance, which oversees the regulation of sports betting.
Eduard Blonk, Chief Commercial Officer, Sportradar, said: “We have already established a strong business foundation in Brazil and see immense growth opportunity, driven by its large population and widespread popularity of sports, in particular football, an area in which we excel globally. Furthermore, our commitment to preserving the integrity of Brazilian sports underscores Sportradar’s broader mission to foster a responsible and sustainable industry operating within a regulated environment.”
Including São Paulo, Sportradar has 28 offices in 22 countries across five continents, serving more than 800 operators, 400 sports leagues, and 900 media companies with a diverse portfolio of industry-leading products and services.