maximising-casino-cross-sell-during-the-world-cup

Maximising casino cross-sell during the World Cup

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The excitement created by the World Cup is such that it doesn’t just mean huge potential gains for sportsbooks – there is also massive casino cross-sell opportunities to be had.

European Gaming spoke to Alex Bolton, Casino Manager at Mobinc, about the initiatives the company is taking to maximise this potential as the tournament gets into full swing.

 

How big an opportunity is increased sportsbook traffic to operators when it comes to their casino sites?

Sportsbook is just one of the pillars accredited to the success of casinos and there’s plenty more to offer players. That said, the demographic it captures is far more distinct compared to those seen in more traditional gambling models, because in most cases the customer’s enjoyment of watching live sporting events often precedes their interest in betting.

As a result, the opportunity to acquire this particular type of customer is not one that casinos should overlook. A winter World Cup represents a great opportunity for all operators who should expect a rise in engagement with the number of sports fans eager to get involved. The festive season always sees a jump in casino activity, so the synergy we can expect from a corresponding World Cup is incredibly promising. Those who are well prepared can also maximise their revenue by supplying entertainment during the event’s downtime and off-peak matches.

 

How do they attract sportsbook customers to play casino games if they have not done before?

There are several methods for casinos to cross-sell traditional slots to customers that have been acquired by their sportsbook. One of the more popular methods is to run slot-focused promotions on the sportsbook, which gives players the chance to win rewards that are themed around live dealer titles or slots. The key is to showcase the value and experience of these products without customers having to risk their own money.

Moreover, you can cherry-pick a range of particular products to cross-sell to sports bettors, this can certainly enhance their user experience, whilst increasing the overall retention rates. By picking the correct products operators can deliver the optimum betting experience that sports-bettors seek, allowing them to dip in and out while also enjoying the matches.

 

What sort of promotions have you got planned and how will players and providers benefit?

We have several promotions lined up which will be running over the course of the World Cup and we cannot wait to unveil them to our customers, including free spins, deposit bonuses and vouchers redeemable for World Cup matches. The event is guaranteed to be a spectacle and with it occurring once every four years we hope our themed initiatives will be enjoyed by players.

Additionally, with some targeted cross-selling we expect our partner providers will also enjoy a piece of the action in what’s guaranteed to be a very busy time for the industry. With the World Cup just around the corner, we’re eager to get started.

 

Are there regional variations at work here and how do you tailor your offering to specific markets or in countries with teams participating in the World Cup?

We’re delighted to see Canada and Japan qualify for the World Cup; two of the biggest markets we operate in. What makes this more exciting is the fact that this will be Canada’s first-ever appearance in the iconic tournament, allowing us to tap into a brand-new demographic.

Through strategic positioning, we’re aiming to significantly enhance the experience for our Canadian customers as they follow their nation during its exciting World Cup debut. Meanwhile, with Japan being a more experienced participant, their involvement captures a recurring demographic of football fans and we’re primed to take advantage of this.

 

How can casinos convert newly arrived customers on a longer-term basis?

In an extremely competitive environment, to secure long-term conversion operators must provide the best casino experience possible. The quality and quantity of websites facilitating gambling in the current market are incredible, and when the bar is this high there is simply no room for complacency.

The market is also in a constant cycle of change with regulatory and market developments happening all the time. With this in mind, it’s vital for operators to be on the front foot so that they can ensure they’re catering to these changes, whilst simultaneously delivering an exceptional customer experience.

During massive events such as the World Cup, when community spirit is high, word of mouth can do wonders to get new players on board. Ensuring these converted customers stick around as the event comes to an end is the next challenge for operators, but a fluid gaming experience is essential, as are the RNG and live dealer content that complement the sports betting experience.

livescore-group-integrate-new-superfeed-pre-play-football-content-across-livescore-media-site.

LiveScore Group integrate new Superfeed Pre-play football content across LiveScore Media site.

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Spotlight Sports Group (SSG), a world-leading technology, content and media company, has today announced a new Superfeed Pre-play agreement with LiveScore Group. The multi-year agreement involves the launch of pre-match content across 22 different football leagues to their global audience.

Using Superfeed, LiveScore Media customers can now have access to expert betting-led verdicts and insights from the biggest leagues in the world. The new Superfeed integration strengthens the partnership between LiveScore Group and Spotlight Sports Group after the recent launch of Superfeed Racing across LiveScore Bet and Virgin Bet.

LiveScore Group is committed to offering the best customer experience across its brands and has chosen Spotlight Sports Group to be its primary content provider thanks to the group’s proven track record in providing expert betting content across 20 sports. This is evident through the racing agreement providing incremental betting activity for LiveScore Group’s betting brands.

Head of UK and Ireland sales for Spotlight Sports Group, Daniel Smith, spoke about why LiveScore Group chose Superfeed.

He said: “We’ve worked hard over the past number of years to build one of the best football content products in the industry. It’s an exciting opportunity for us to showcase the power of Superfeed football content on one of the world’s biggest football brands. I’m delighted that this agreement gives their huge global audience direct access to our expert football insights and verdicts.”

James McKay, sportsbook director at LiveScore Group, said: ‘’We’re delighted to further extend our Superfeed agreement with Spotlight Sports Group. I’m particularly looking forward to seeing how our dedicated football audience engages and interacts with the vast amount of excellent football content that Superfeed provides. Whether our customers are engaging in the Premier League or the MLS, the consistent quality information they will now experience will be of huge benefit.‘’

Serve impartial, expert betting insights and verdicts across your platform and marketing channels with Superfeed pre-play, making more events matter on your feed throughout the day, across any sport.

For more information visit spotlightsportsgroup.com/superfeed/

altenar-set-to-showcase-top-tier-sportsbook-at-bege-2022

Altenar set to showcase top-tier sportsbook at BEGE 2022

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Malta-based iGaming leader ready to display its impressive resume

Altenar, the leading Isle of Man headquartered sportsbook provider, is set to take centre stage at the Balkan Entertainment and Gaming Expo (BEGE) in Bulgaria next month to unveil its latest ground-breaking innovations.

The conference, which runs from 23rd-24th November 2022 at Sofia’s Inter Expo Center, has become a hugely integral part of the iGaming calendar and the team at Altenar will play an important role at the annual event.

During the course of the two days, Altenar representatives will be sponsoring, showcasing and speaking about the Bulgarian sports betting landscape. Discussion topics will include market analysis and risk management requirements.

Altenar has developed a strong reputation within the Bulgarian market thanks to success stories in the region, such as Winbet, 8888.bg, Alphawin, Sesame, and Palms Bet. This has led to immense trust in the sportsbook solutions developed by Altenar and the provider’s understanding of such a dynamic Balkan betting landscape.

Over the past 12 months, Altenar has also devised an improved Cash Out formula, as well as developing solutions that allow different odds for individual partners, all while continuing to streamline its settlement processes as the demand for this increases in Bulgaria.

Led by COO and Co-Founder Dinos Stranomitis, Altenar’s expert sales team will be on hand to exhibit all of their most recent high-profile developments.

Commenting ahead of BEGE, Stranomitis said: It is important for providers like Altenar to be present at events like BEGE, as the Bulgarian market is demanding and filled with smart players and betting consumers.

“It’s important to meet our partners to discuss with those in the market what is in demand, needed and wanted, while better understanding the balance and dynamics of the market as well. Our success stems from as far back as 2015 when we empowered Winbet as our first operator; we hope to continue this positive and successful climb.”

betconstruct-partners-up-with-sis

BetConstruct Partners up with SIS

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The complete iGaming platform provider BetConstruct signs up a new exciting partnership with SIS (Sports Information Services), the leading supplier of 24/7 betting services to retail and online operators worldwide.

As a well-known company in the gaming industry, BetConstruct always keeps the needs of partners in mind and is constantly looking for new opportunities to provide its network with the best content and help them stand out from the fierce competition.

SIS is a leading 24/7 live betting service that includes exclusive live UK and Irish horse racing, along with international meetings from the likes of Dubai, Latin America, Mauritius and the US, as well as premium UK and Irish greyhound racing. Their content is delivered as a complete solution including live streamed pictures, data, commentary, on-screen graphics with betting triggers along with an extensive range of markets and prices.

With the recently signed partnership, the huge network of BetConstruct will benefit from quality horse racing content from around the world 24/7. The SIS service will significantly enhance the racing offering of the partners and provide their customers with frequent betting opportunities across all times of the day. In addition, all content can be supported by a range of value-added services designed to increase operators’ turnover and margins, including pre-race betting, prompts and managed trading services.

The newly established partnership between BetConstruct and SIS represents a significant opportunity for both parties and promises to bring continued progress and undeniable success.

zeturf-group-joins-sports-betting-integrity-body-ibia

ZEturf group joins sports betting integrity body IBIA

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ZEturf group is the latest operator to become a member of the International Betting Integrity Association (IBIA), which now numbers 40+ operators and 100+ betting brands. Founded in 2001, ZEturf group operates in the online horse-race and sports betting market via its ZEturf and ZEbet brands, with licences in Malta, France, Belgium, Spain, Nigeria and the Netherlands. The operator will now feed into IBIA’s leading global betting integrity monitoring and alert network. It joins many of the largest regulated sports betting operators in the world, with the association’s members accounting for over $137bn (€115bn) in global betting turnover per annum and nearly 50% of all regulated commercial operator online betting activity.

Paul Klomp of ZEturf group, said: “I am very pleased that we have entered into this international cooperation between leading operators of sports betting. The integrity of sports and especially those we offer bets on is key for offering a solid betting product. With our experiences in the industry for many years we are convinced that we can add value to the association.”

Khalid Ali, CEO of IBIA, said: “IBIA is delighted to welcome ZEturf group to the association’s growing membership. The operator expands IBIA’s international coverage of regulated horseracing and sports betting markets and reinforces the association’s place as the leading betting integrity monitor. ZEturf brings a distinct operational approach and coverage that will bolster IBIA’s global monitoring and alert network.”

The International Betting Integrity Association is the leading global voice on integrity for the licensed betting industry. It is run by operators for operators, protecting its members from corruption through collective action. Its monitoring and alert network is a highly effective anti-corruption tool that detects and reports suspicious activity on its members’ betting markets. The association has longstanding information sharing partnerships with leading sports and gambling regulators to utilise its data and prosecute corruption. It represents the sector at high-level policy discussion forums such as the IOC, UN, Council of Europe, and European Commission.

parimatch-tech-at-sigma-malta:-award-winning-franchise-brand,-aws-cloud-ecosystem,-and-a-new-b2b-product-lineup

Parimatch Tech at SiGMA Malta: Award-Winning Franchise Brand, AWS Cloud Ecosystem, and a New B2B Product Lineup

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Being one of the biggest iGaming events of the year, SiGMA Malta brought together over 25000 specialists from all over the world to share innovations, trends, case studies, and data. The international product company Parimatch Tech, a developer of technological and marketing solutions for the entertainment industry, joined the event, bringing its speakers to SiGMA’s program.

On November 17, Parimatch Tech’s CTO Artur Ashyrov and Deputy CTO, VP of Data, and Head of B2B Dmytro Fedyukov along with AWS’ Senior Account Manager Serhii Avramchuk presented a case study of Parimatch Tech’s partnership with AWS. Started 4 years ago, it brought a massive boost to the company’s development capabilities and operations, allowing it to migrate to a more efficient ecosystem and create smart solutions and features that significantly enhanced Parimatch Tech’s B2B product lineup.

“It became possible, in particular, thanks to AWS’ infra as a service. Designing a reliable, multi-AZ, HA infrastructure from scratch is a time- and resource-consuming task. It is always a choice between a longer TTM plus quality product and sacrificing some features for a shorter TTM. As a product-minded company, we couldn’t put up with any of these outcomes. So we opted for a smarter route, which allowed us to significantly reduce TTM without sacrificing the product’s quality,” explained Artur Ashyrov, Parimatch Tech CTO.

Over the years of AWS partnership, Parimatch Tech engineers have developed several features to enhance the flexibility, durability, and entertainment value of the Parimatch platform, such as Environment by Click development framework and a programmatic content recommendation engine. Based on all the innovations,

Parimatch Tech formed its B2B product lineup for the entertainment industry, which includes:

● Parimatch brand franchise – one of the leading international betting brands, known for its bold fiery spirit, a rocking list of partners, and a number of Operator awards, most recent of them being SiGMA 2022’s Sportsbook Operator of the Year.
● Platform – one of the fastest growing in Eastern Europe with millions of active users and the ability to handle millions of bet settlements at peak load during the main sports events without any downtime.
● BAAS (business as a service) – all-in-one solution that includes all the advantages of Parimatch Tech’s platform, industry expertise, and management excellence.

“Considering that eight out of ten sports betting operators do not work on their software, including companies operating in many regions with well-known brands, we felt ready to offer our solutions to third-party operational companies. Using our tech and expertise in the desired volume and relying on our unique set of experience, our partners will be able to quickly power-up and scale their operations,” pointed out Dmytro Fedyukov, Deputy CTO, VP of Data, and Head of B2B at Parimatch Tech.

statistics-from-over-20-countries-–-most-bets-on-argentina-to-win-world-cup

STATISTICS FROM OVER 20 COUNTRIES – MOST BETS ON ARGENTINA TO WIN WORLD CUP

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Brazil wins the World Cup and Harry Kane the top scorer of the tournament, at least according to Betsson’s odds prior to the World Cup in Qatar. However, most bets are on the neighbouring country Argentina to win the world cup for the third time. Swedish players differ from the rest of the world, where instead Germany is the favourite team to bet on and Denmark stands out as the fourth most played team to win.

Ahead of the Football World Cup, the betting company Betsson has compiled statistics from over 20 countries in which the company operates in. Most bets are on the classic football nations – Brazil, Argentina, France and Germany. Close to 80% of the players have put their money on these four countries.

If the odds are correct, Harry Kane will be the tournament’s top scorer, but most bets are on Messi, followed by Neymar and Lautaro Martinez. England’s striker Kane is to be found on fourth place in terms of number of bets played.

TOP 10 WINNER-BETS OF WORLD CUP (IN TERMS OF BETS)

Argentina: 40%
Brazil: 25%
France: 9.5%
Germany: 4.7%
England: 4.2%
Portugal: 4.5%
Denmark: 3%
Uruguay: 2,9%
Netherlands: 2,1%
Belgium: 2%

TOP 10 STRIKER (IN TERMS OF BETS)

Lionel Messi: 23%
Neymar: 12%
Lautaro Martinez: 8%
Kylian Mbappé: 7%
Harry Kane: 7%
Richarlison: 7%
Memphis Depay: 6%
Karim Benzema: 5%
Cristiano Ronaldo: 4%
Robert Lewandowski 1.5%

sportradar-launches-first-of-its-kind-‘virtual-stadium’-solution-ahead-of-global-soccer-tournament

SPORTRADAR LAUNCHES FIRST OF ITS KIND ‘VIRTUAL STADIUM’ SOLUTION AHEAD OF GLOBAL SOCCER TOURNAMENT

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Sportradar today launched ‘Sportradar Virtual Stadium’ an artificial intelligence and machine learning-driven social engagement solution for sportsbook operators to connect more deeply with bettors and enrich the user experience throughout this winter’s global soccer competition in Qatar.

Sportradar Virtual Stadium provides bettors with the opportunity to socialise with their peers and share the live sports experience by participating in conversation and friendly debate on betting content, pre-match build-up and on the pitch action. This allows operators to interact with bettors as well as develop and nurture their own online communities, resulting in a deeper understanding of customer behaviour.

Available to operators worldwide, Sportradar Virtual Stadium elevates the fan experience by virtue of being the first engagement solution on the market to feature:

  • Game-specific chat rooms for upcoming and live matches
  • Free-to-play betting opportunities
  • Fan polls asking for opinions on hot sports topics
  • Cheer-meters that highlight how fans are reacting to a particular match occurrence

Hosted on a sportsbook’s home page and running alongside sport-specific betting content, Sportradar Virtual Stadium delivers a personalised betting experience, allowing operators to choose which social components to include in their set-up and tailor the contents to the interests and preferences of their customer base.

Blaz Zitnik, Managing Director, Betting Entertainment Tools at Sportradar said: “Built upon our more than 20 years’ experience in the data space and an unrivalled tech stack, the Sportradar Virtual Stadium solution is helping operators maximise the full commercial potential of this winter’s global soccer tournament. By combining innovative engagement tools with deep end user insights, operators can deliver a personalised soccer experience that engages their customers for longer periods of time and increases loyalty.”

sportradar-reports-strong-growth-and-increased-profitability-and-cash-flow

Sportradar Reports Strong Growth and Increased Profitability and Cash Flow

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Sportradar Group AG, the leading global technology company enabling next generation engagement in sports and provider of business-to-business solutions to the global sports betting industry, today announced financial results for its third quarter ended September 30, 2022.

Third Quarter 2022 Highlights

  • Revenue in the third quarter of 2022 increased 31% to €178.8 million ($175.2 million)1 compared with the third quarter of 2021. 2022 year-to-date revenue grew 28% compared to the same nine months in 2021.
  • The RoW Betting segment, accounting for 56% of total revenue, grew 28% to €100.9 million ($98.9 million)1, driven by strong performance from our Managed Betting Services (MBS).
  • U.S. segment revenue grew 61% to €31.6 million ($31.0 million)1 compared to the third quarter of 2021, driven by strong market growth and positive adoption of in-play betting. The U.S. segment turned profitable for the first time since the Company’s initial public offering and generated a positive Adjusted EBITDA margin of 11%.
  • The Company’s Adjusted EBITDA2 in the third quarter of 2022 increased 75% to €36.5 million ($35.8 million)1 compared with the third quarter of 2021 as a result of strong revenue growth even with continuous investments in the Company’s growing business.
  • Adjusted EBITDA margin2 was 20% in the third quarter of 2022, an increase of 500 bps compared to the quarter for the prior year period and 400 bps higher compared to the second quarter of 2022.
  • Adjusted Free Cash Flow2 in the third quarter of 2022 increased to €33.9 million, compared to €32.9 million for the prior year period. The resulting Cash Flow Conversion2 was 93% in the quarter.
  • During the quarter, the Company prepaid €200.0 million of its outstanding debt. As of September 30, 2022, total debt was €236.9 million, and cash and cash equivalents totaled €512.5 million.
  • The Company has raised its guidance for revenue and the lower end of its Adjusted EBITDA2 range for the full year 2022.
Key Financial Measures Q3 Q3 Change
In millions, in Euros 2022 2021 %
Revenue 178.8 136.8 31%
Adjusted EBITDA2 36.5 20.9 75%
Adjusted EBITDA margin2 20% 15%
Adjusted Free Cash Flow2 33.9 32.9 3%
Cash Flow Conversion2 93% 158%

1 For the convenience of the reader, we have translated Euros amounts at the noon buying rate of the Federal Reserve Bank on September 30, 2022, which was €1.00 to $0.98.
2 Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.

Carsten Koerl, Chief Executive Officer of Sportradar said: “Our strong performance in the third quarter exceeded our expectations across all key financial metrics. We consistently managed to grow revenue, profitability and cash flows despite adverse market conditions during the first three quarters of 2022. The Company exceeds expectations quarter-in and quarter-out, and as a result of our operational performance – in particular the U.S. and the betting rest-of-world business – as well as our organizational streamlining, we are able to raise our full year guidance for revenue and increase the lower end of our Adjusted EBITDA range.”

“We are proud of the continuous success of our U.S. operations. We managed to generate a U.S. profit for the first time in the third quarter, displaying solid operational leverage in the business model. Underpinning this success is the extension of our long-term partnership with FanDuel. This partnership is a testimony for our strategy, to expand our relationships and become an embedded technology provider for our customers, based on strategic long-term deals with our league partners.”

Ulrich Harmuth, Interim Chief Financial Officer added: “The financial results in the third quarter demonstrated that Sportradar consistently has managed to grow almost three times faster than the underlying betting market and our growing scale has led to margin expansion – as indicated by the U.S. segment turning profitable in the third quarter. As a result of this strong momentum and based on what we can see today, our 2023 preliminary expectations are for revenue to grow in the mid-20’s percent while expanding Adjusted EBITDA margin above 2022 levels.

Segment Information

RoW Betting

  • Segment revenue in the third quarter of 2022 increased by 28% to €100.9 million compared with the third quarter of 2021. This growth was driven primarily by increased sales of our higher value-add offerings including Managed Betting Services (MBS), which increased 84% to €38.2 million, and Live Odds Services, which increased 12% to €27.1 million. MBS growth was attributable to a record annualized turnover3 of €19.0 billion and the success of our strategy to move existing customers to higher value add products.
  • Segment Adjusted EBITDA2 in the third quarter of 2022 increased 8% to €48.2 million compared with the third quarter of 2021. Segment Adjusted EBITDA margin2 decreased to 48% from 57% in the third quarter of 2021 driven by inorganic investments into AI capabilities for our MBS business, expanding our sport rights portfolio, as well as temporary cost savings in sport rights and scouting from the prior year due to the COVID-19 pandemic.

RoW Audiovisual (AV)

  • Segment revenue in the third quarter of 2022 increased by 14% to €33.1 million compared with the third quarter of 2021. Growth was driven by cross-selling audiovisual content to existing data customers and expanding AV portfolio sales with existing AV customers.
  • Segment Adjusted EBITDA2 in the third quarter of 2022 increased 32% to €12.6 million compared with the third quarter of 2021. Segment Adjusted EBITDA margin2 increased to 38% from 33% compared with the third quarter of 2021 as a result of AV revenue growth.

United States

  • Segment revenue in the third quarter of 2022 increased by 61% to €31.6 million compared with the third quarter of 2021. This growth was driven by a strong increase of U.S. betting services, driven by cross-selling non-data products to betting operators as well as benefiting from our customers’ growth as a result of a development in the underlying market and new states legalizing betting.
  • Segment Adjusted EBITDA2 in the third quarter of 2022 was €3.4 million compared with a loss of (€6.6) million in the third quarter of 2021, primarily driven by enhanced operating leverage as a result of the growing scale of our business despite continuous investments in the U.S. segment’s products and content portfolio. Segment Adjusted EBITDA margin2 improved to 11% from (34%) compared with the third quarter of 2021.

2 Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.
3 Turnover is the total amount of stakes placed and accepted in betting.

Costs and Expenses

  • Purchased services and licenses in the third quarter of 2022 increased by €18.1 million to €47.5 million compared with the third quarter of 2021, reflecting continuous investments in content creation and processing, higher event coverage and higher scouting costs. Of the total, approximately €13.7 million was expensed sports rights.
  • Personnel expenses in the third quarter of 2022 increased by €16.9 million to €68.3 million, an increase of 33% compared with the third quarter of 2021. Adjusted for inorganic hires, personnel cost grew 27% compared to the third quarter in 2021.
  • Other Operating expenses in the third quarter of 2022 decreased by €4.9 million to €20.3 million, as a result of our efforts to increase the effectiveness of our central services and due to one-time costs resulting from our initial public offering in September 2021.
  • Total sport rights costs in the third quarter of 2022 increased by €5.9 million to €34.6 million compared with the third quarter of 2021, primarily a result of costs associated with new acquired rights in 2022 for the ITF, UEFA and ATP.

Recent Business/Company Highlights

  • Sportradar and FanDuel sign long-term agreement for Official NBA data through the 2030-31 season. Providing FanDuel with a comprehensive portfolio of betting products and entertainment tools, Sportradar remains the preferred data and odds supplier to FanDuel through 2031. Using official NBA data, Sportradar and FanDuel will collaborate to enhance the sports betting experience with new offerings such as certain player tracking data to create props and same game parlays. Additionally, FanDuel will use Sportradar’s proprietary Live Channel Trading (LCT) product.
  • Sportradar reaffirms leadership position in cricket market with partnerships with Australian Premier Cricket competitions. Sportradar announced the renewal of partnership agreements with the top tier club cricket competitions in Tasmania, Queensland, and Western Australia. Currently, Sportradar is partners with every single state and territory cricket governing body in Australia. Extensions with these clubs enable Sportradar to remain the official streaming partner until mid-2025
  • Sportradar and International Golf Federation enter integrity partnership. Sportradar’s Integrity Services (SIS) unit signed a multi-year integrity partnership with the International Golf Federation (IGF). Under the terms of the initial two-year agreement, SIS will provide bet monitoring through its Universal Fraud Detection System (UFDS) for several IGF competitions. Sportradar Integrity Services have detected more than 7,300 suspicious matches during the past 17 years, with over 600 taking place in 2022 alone.
  • Tennis Data Innovations and Sportradar team up to expand official tennis data distribution. The partnership sees the launch of a “new secondary feed,” to enable the provision of betting-related services based on official ATP Tour and ATP Challenger Tour scores to a suite of global bookmakers. Of significance, the partnership sees the ATP change its data framework, allowing bookmakers to have uninterrupted access to official data, as scores to date have been delivered directly from the umpire’s chair.
  • Sportradar continues to evolve its organizational structure to set it up for continued success in achieving its strategic goals around growth, organizational effectiveness and efficiency. The Company is optimizing its organization by appointing global leaders for content creation, product development and commercial excellence – with the U.S. retaining a dedicated go-to-market approach. With this new structure, the Company will become faster in decision-making and execution, and will be more effective and efficient in serving global customers with a growing global product portfolio. The net effect will also be to significantly reduce the number of direct reports to the CEO.

Annual Financial Outlook 
Sportradar has updated its outlook for revenue and Adjusted EBITDA for fiscal 2022 as follows:

  • Sportradar has raised its revenue outlook for fiscal 2022 to a range of €718.0 million to €723.0 million ($703.6 million to $708.5 million)1, from its previous range of €695.0 million to €715.0 million representing prospective growth of 28% to 29% over fiscal 2021.
  • Outlook for Adjusted EBITDA2 is narrowed to a range of €124.0 million to €127.0 million ($121.5 million to $124.5 million)1 from the previous range of €123.0 million to €133.0 million, representing 22% to 24% growth versus last year.
  • Adjusted EBITDA margin2 is expected to be in the range of 17% to 18%.4
sports-betting-market-size-&-share-to-surpass-usd-129.3-billion-by-2028-|-vantage-market-research

Sports Betting Market Size & Share to Surpass USD 129.3 Billion by 2028 | Vantage Market Research

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The global Sports Betting Market was valued at $74.2 Billion in 2021 and is expected to reach $129.3 Billion by 2028, registering a CAGR of 9.7% during the forecast period of 2022-2028. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Vantage Market research has a newly released expansive study titled Global Sports Betting Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Sports Betting report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one’s rivals. It classifies the global Sports Betting market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the Sports Betting market and the Sports Betting industry as a whole appears to be quite positive during the projection period.

Sports Betting Market Dynamics:

Drivers:

Increasing Technological Advancement and Innovation to Drive the Market Growth

The increasing technological advancement and innovation in online sports gaming are anticipated to augment the growth of the Sports Betting Market during the forecast period. Digital platforms enable gamblers to place bets from any location around the world, which saves time as well as travel costs. Along with this, the ease of operations digitally makes it a significant driver for the Sports Betting Market. Moreover, rapid penetration of internet-based devices such as tablets, laptops, and smartphones aid the contact with end-users by involving them through online betting activities with the most negligible influence on daily activities. Hence, smartphones are anticipated to play a vital role in the acceptance of Sports Betting Market among end-user over the forecast timeline. In addition, increasing smartphone penetration and high adoption of instant messaging services and video streaming augment the growth of online Sports Betting Market through mobile devices. Such factors can influence the user experience by developing improved mobile applications. Furthermore, the benefits associated with the 5G networks are projected to enhance the adoption of smartphone-based betting in the coming years, driving the Global Sports Betting Market growth.

Rapid Development of Electronic Systems to Stimulate Market Growth

The development of electronic systems to facilitate gaming competition, such as a variety of video games, is contributing to the growth of the e-sports industry. This is expected to fuel the market where bets are placed on the tentative winner. In recent years, the e-Sports industry has seen rapid growth in viewership and revenue. The increasing viewership contributed significantly to revenue growth. For example, in 2016, there was a significant increase in casual and avid eSports viewers, including viewers who watch it regularly. Furthermore, rising eSports awareness is expected to drive industry growth shortly. The rise of live eSports coverage platforms, such as Twitch and YouTube, increases global viewership and drives business growth. Furthermore, the number of people watching Tv with live streams has risen steadily. E-Sports marketing would aid in expanding Sports Betting Market and delivering marketing messages via various channels. Over the forecast period, the factors mentioned earlier are expected to drive market growth.

List of Prominent Players in Sports Betting Market:

  • 888 Holdings PLC
  • Bet365
  • Betsson AB
  • Churchill Downs Incorporated
  • Entain PLS
  • Flutter Entertainment PLC
  • IGT
  • Kindred Group PLC
  • Sportech PLC
  • William Hill PLC

Segmentation of the Global Sports Betting Market:

  • Platform
    • Offline
    • Online
  • Betting Type
    • Fixed Odds Wagering
    • Exchange Betting
    • Live/In Play Betting
    • Pari-Mutuel
    • eSports Betting
    • Other Types
  • Sports Type
    • Football
    • Basketball
    • Baseball
    • Horse Racing
    • Cricket
    • Hockey
    • Other Sport Types
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

The Report on Sports Betting Market Highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

Europe held the largest share of around 50% of the global sports betting market in 2021. Popular sports in Europe such as football, auto racing, rugby, and tennis have a large, loyal fan base that is actively engaged in sports betting. Additionally, implementation of stringent rules and regulations in betting has significantly reduced fraud in the region, thereby positively impacting the sports betting industry growth in Europe.

Asia Pacific dominated the Global Sports Betting Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to a substantial proportion of young people participating in various regional sports. Furthermore, the rising internet and smartphone penetration coupled with the rising disposable income of the middle-class population is also likely to support the regional growth of the market.

Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on Sports Betting market Forecast Report (2022-2028).

Recent Developments:

April 2022: Fanduel extended its partnership to become an Official Sports Betting Partner of the New York Yankees. Through this partnership, FanDuel will be allowed the use of New York Yankees’ marks. It will also have premium VIP hospitality accommodations at Yankee Stadium.

January 2022: Flutter Entertainment PLC announced its acquisition of the leading Italian online gambling brand Sisal for €1.913 billion (£1.62 billion) from CVC Capital Partners. Sisal will presumably slot into the Flutter International division, led by the PokerStars brand and supported by Betfair International and recent acquisitions Adjarabet and Junglee Games.