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Sportradar stock spikes on FIFA sports betting deal – Crypto News

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8 months ago

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Sports betting data and technology provider Sportradar (NASDAQ:SRAD) saw its shares pushed higher on Thursday after it announced a deal with FIFA Club World Cup 2025.

In the deal, Sportradar, along with sports streaming network DAZN, got exclusive rights to distribute betting data, as well as media content, from the FIFA Club World Cup 2025.

The FIFA Club World Cup is a worldwide soccer tournament featuring 32 teams. It will be held across the United States from June 14 through July 13 and will be televised globally by DAZN. It is expected to be a major betting event, worldwide.

Sporttradar, based in Switzerland, provides sports analytics and real-time betting odds, as well as media content, for its clients. Sportradar’s clients include FanDuel, DraftKings, and Caesars, as well as organizations like  the MLB, NHL, NASCAR, the NBA, and ESPN, to name a few.

Through the FIFA deal, Sportradar will deliver live odds for all 63 tournament matches at the FIFA Club World Cup to its global network of more than 800 betting operators and 900 media companies.

“We are thrilled to partner with DAZN to elevate the FIFA Club World Cup 2025 to new heights, expanding global reach, captivating new audiences and deepening engagement with fans worldwide,” Moritz Gloeckler, EVP, rights & strategic projects at Sportradar, said. “At the same time, we remain committed to upholding the integrity of this prestigious competition.”

Sportradar stock is up 45% YTD

Sportradar officials said the company will have access to tracking data from the FIFA Club World Cup 2025 to offer “an extensive range of micro and player markets, including up to 190 pre-match and 200 in-play betting markets, as well as power live match trackers.”

Further, the company will deploy its AI-driven Universal Fraud Detection System (UFDS) to monitor bets and protect the tournament from corruption.

Sportradar stock rose about 4% on the news, trading at over $25 per share. It has been a consistent grower, returning 45% year-to-date and 128% over the past year, making it one of the top stocks on the market this year.

Analysts are bullish on Sportradar stock, with a median price target of $28.40, which suggests roughly 12% upside. It is also a consensus buy among analysts.

In the first quarter, Sportradar grew revenue by 17% to a record €311 million and posted a net profit of €24.3 million, or 7 cents per share, up from a net loss the previous year.

It occupies a key and essential niche as a data, odds and technology provider across the sports betting and media industries, so there is a lot to like about this stock. But one thing to watch is its high valuation. It is trading at 128 times earnings, spurred by its rapid growth. But investors should tread carefully until that valuation drops a bit.

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