Sportradar Review
7.7/10Swiss-founded, Nasdaq-listed data company holding exclusive NBA (to 2031), NHL (2030-31), MLB (2032), ATP (2029), and Bundesliga (2031-32) betting rights plus the IMG Arena portfolio, distributing 1M+ events a year through the Unified Odds Feed and trading for 200+ books via MTS, atop EUR 1,290M FY25 revenue with EUR 100M profit.
Our read
1M+ events and 650,000+ streams a year across 21 sports flow through one feed alongside virtuals, esports, and third-party props, docked for the absent latency figure.
The directory's first 9.0 rests on NBA data to 2031, NHL through 2030-31, MLB to 2032, ATP to 2029, three of four Grand Slams, Bundesliga to 2031-32, and the 460-deal IMG Arena book, priced down only by the 2026-27 UEFA expiry and a World Cup 26 that belongs to Stats Perform.
UOF is the segment's default rail with documented odds-recovery mechanics and MTS carried 200+ books through 3.5 billion-plus tickets in the year to July 2024, but no SLA or uptime number has ever been published.
Public docs with Java and .NET SDKs cover a range that runs feed to MTS to Orako turnkey, Huddle props ride inside UOF, and the Kalshi deal (June 8, 2026) opened a prediction-market lane with broker sublicensing.
Prices the company-stated 12% upper bound on unregulated-market revenue and the structural supplier-competitor dual role against FY25 profit, zero enforcement in 25 years, 109% net retention, and SBC data-category wins in 2025 and 2026.
No public pricing exists for UOF, MTS, or Orako anywhere, the MTS model is a GGR revenue share without bands, and listed-company reporting stops short of a rate card.
Methodology. Our own score, a weighted average of six dimensions, tilted toward coverage and official rights. Weighted on the sports data scale: coverage and latency carry 0.25, official rights 0.20, and reliability, integration, and trust 0.15 each ahead of commercials at 0.10, a fit for a vendor whose rights book and delivery rail are the substance while pricing stays dark. Read the full methodology
- The rights book has no equal in betting: exclusive NBA data to 2031, NHL through 2030-31, MLB to 2032, ATP to 2029, and Bundesliga to 2031-32, plus Wimbledon extended on June 4, 2026, which puts three of four Grand Slams alongside UFC, PGA TOUR, MLS, and EuroLeague from the IMG Arena portfolio.
- One integration carries everything: the Unified Odds Feed pushes official and scouted coverage, virtuals, esports, and third-party content through a single documented rail, with public docs, Java and .NET SDKs, and odds-recovery mechanics an engineer can read before anyone calls sales.
- Managed trading at industrial scale: MTS processed 3.5 billion-plus betting tickets for 200+ operators in the year to July 2024, with UFDS integrity surveillance wired into the risk stack and OneFeed letting the desk trade content from other suppliers.
- The segment's financial fortress: FY25 revenue of EUR 1,290M (+17%) with EUR 100M profit, positive free cash flow, 109% net retention, a buyback expanded to $1B, and 2026 guidance of EUR 1,557-1,582M (March 3, 2026), while both big rivals carry losses or expensive debt.
- Full-stack optionality no data rival matches: the same vendor sells the raw feed, takes over trading through MTS, or ships the whole book as the Orako turnkey (launched 2022 on the Optima base), so an operator can move up the stack without changing supplier.
- First mover into prediction markets among the rights distributors: the Kalshi global partnership (June 8, 2026) covers official data, live odds, and integrity across MLB, NHL, MLS, and UFC, non-exclusive but with a sublicensing lane to Kalshi's own brokers and market makers.
- Unregulated-market exposure is company-stated rather than itemized: the Q1 2026 call put it at low-to-mid single digits with a simulation-based upper bound of 12%, and no market-by-market breakdown is published anywhere.
- The structural conflict of a supplier that also sells sportsbooks: Orako competes with the platform vendors that buy Sportradar feeds, so platform rivals and Orako buyers sit on opposite sides of the same vendor.
- The rights map stopped being one-way traffic: UEFA exclusivity expires at the end of the 2026-27 season inside this review's shelf life, ICC cricket rotated to Stats Perform after 2023, FIFA World Cup 26 betting data also sits with Stats Perform, and the UK CMA cleared the IMG Arena deal on a failing-firm counterfactual, meaning the acquired rights book was losing money.
- Commercial terms are dark end to end: no public price exists for UOF, MTS, or Orako, the MTS model is a GGR revenue share with no bands published anywhere, and the league equity stakes held by the NBA, NHL, and MLB travel with rights costs a buyer never sees itemized.
US-facing books that need official NBA, NHL, or MLB data (no alternative source exists until the 2030s), operators consolidating onto one feed, startups handing trading to MTS or the whole book to Orako, and prediction-market platforms on the Kalshi lane.
Buyers who need published pricing or negotiating leverage on league data, sportsbook-tech rivals wary of buying data from a direct competitor, and value-tier books that only need unofficial coverage at LSports-class cost.
Markets & licensing
Sportradar is a data, odds, and trading supplier rather than a license-holding operator, so its register trail is supplier registrations, and it points one way: North America. The arc runs 26 state and tribal licenses in December 2021, 36 at the Ontario AGCO registration in April 2022, and 56 licenses or equivalents across US states, territories, tribes and Canada by the North Carolina supplier award in March 2024, with Maryland, Wisconsin, Connecticut, West Virginia, Maine, Ohio, and North Carolina named in dated company PRs. Each leg comes from a dated company announcement, because US state registers and the AGCO database are not publicly queryable. Europe needs no B2B gambling license for data supply in most markets, and Sportradar holds no MGA or UKGC B2B entry. For the Orako turnkey the licensing burden sits with the operator, and whether Sportradar carries software-supplier registrations in Orako markets is published nowhere.
The 26-to-36-to-56 license arc (December 2021 to March 2024) is the deepest supplier footprint in the sports-data segment, built state by state as US markets opened, with seven states named in dated announcements and the rest carried in company counts. Nothing here can be clicked, since US registers are not publicly queryable, so the arc rests on dated company announcements.
No UKGC registration exists for Sportradar, consistent with a data supplier whose core product is not license-gated in most of Europe, and UK books already run on the segment's feeds under their own operating licenses. The open line is Orako: a full sportsbook stack is a different regulatory animal, and it has never been sold into the UK.
- US state and tribal supplier licensesUnited States
- Supplier licenses or equivalents across states, territories, and tribes, accumulated as regulated markets opened from 2021 · 56 incl. Canada at the March 2024 company count · arc from 26 (Dec 2021) and 36 (Apr 2022)
- Ontario AGCO supplier registrationOntario, Canada
- Gaming-supplier registration for the regulated Ontario market · April 5, 2022 · announced alongside the 36-license North American count
- European data supplyEU / UK
- No B2B gambling-supplier license required for data supply in most European markets, and no MGA or UKGC B2B entry exists for Sportradar · July 11, 2026 · Orako operator licensing sits with the operator
Licensing tier: Depth where supplier regimes exist, dated announcements where they do not: the 56-license count and each named state come from company announcements, since the registers behind them cannot be opened from outside.
Data flows worldwide without gambling-license gates in most markets, so the register trail concentrates where US-style supplier regimes demand one.
No restriction list is published. The company line is licensed operators only, with its own Q1 2026 call putting unregulated-market revenue at low-to-mid single digits with a simulation-based upper bound of 12%, and no market-by-market breakdown is published.
Sportsbook & verticals
A vendor's lineup often mixes its own builds with other companies' products plugged in. When the sportsbook is third party, a second company stands behind your contract.
Integrations & engineering
One contract and one API instead of a separate deal per studio, feed, or PSP. Here's what connects, how fast, and on what stack.
Everything routes through the Unified Odds Feed: real-time XML pushed over AMQP with a REST companion API for metadata, official Java and .NET SDKs, and documented odds-recovery endpoints, with a separate developer.sportradar.com portal for the media Odds and Sports APIs. Virtuals and esports arrive as producers inside the same feed, Huddle props and micro-markets ride it as carried third-party content, and OneFeed converges outside feeds so MTS can trade non-Sportradar supply. Above the feed sit the managed layers: MTS takes over pricing and trading operations with liability staying at the operator, and Orako ships the entire sportsbook.
None published (July 11, 2026). The feed is documented end to end in the open, and the real calendar comes out of sales scoping with counterparty vetting in the path.
Products & tools
Four rungs on one ladder: the official rights portfolio that anchors the segment's deepest book, the UOF feed that delivers it (and rivals' content) through a single documented integration, MTS managed trading behind 200+ operators, and the Orako turnkey for operators who want Sportradar running everything.
Official Rights Portfolio
Exclusive official betting data for the NBA, NHL, MLB, ATP, and Bundesliga locked into the 2029-2032 window, three of four Grand Slams after the IMG Arena close, and UEFA club competitions through 2026-27, sold as the reason no US-facing book can route around this vendor.
- NBA, WNBA, and G League exclusive worldwide betting data through 2031, with the NBA holding roughly 3% equity since the 2021 deal
- NHL betting data and betting streaming through 2030-31 on the 10-year deal announced June 2021, and MLB real-time data through 2032 after the February 2025 extension
- ATP data and betting streaming to 2029 via Tennis Data Innovations, with Wimbledon's data and AV betting rights extended multi-year on June 4, 2026
- UEFA gambling-data exclusivity through the 2026-27 season at 900+ matches a season, Bundesliga to the end of 2031-32, and a DFB-Pokal extension reported March 23, 2026
- The IMG Arena close (November 3, 2025) added UFC, PGA TOUR, MLS, EuroLeague, US Open, and Roland-Garros: 70+ rightsholders, 460+ deals, roughly 38,000 data and 29,000 streaming events a year
Unified Odds Feed (UOF)
The delivery backbone: real-time odds and data pushed as XML over AMQP with a REST companion API, official Java and .NET SDKs, documented odds recovery, and virtuals, esports, and third-party content shipping through the same pipe.
- Real-time XML pushed over AMQP, a REST API for metadata, and dedicated odds-recovery endpoints
- Fully public documentation at docs.sportradar.com, including the market catalog and player-prop markets
- Virtual sports and esports delivered as producers inside the same feed rather than separate integrations
- Third-party content rides the rail: Huddle player props and micro-markets have shipped inside UOF since July 2024
- No latency figure published anywhere on the betting product pages (July 11, 2026)
Managed Trading Services (MTS)
Sportradar as the trading desk: operators hand over the whole book or keep in-house control with the vendor's tools, with pricing, liability management, player profiling, and UFDS match-fixing surveillance run as a service at 200+ client scale.
- 3.5 billion-plus betting tickets processed year-to-date for 200+ clients, with 44 new operators added in H1 2024 alone (July 2024)
- Full-book handover or in-house mode with Sportradar tools
- Alpha Odds AI pricing, vendor-credited with lifting client profits by an average of 10% versus traditional odds (July 2024)
- OneFeed converges third-party feeds so the desk can trade non-Sportradar content
- Dedicated Operational Account Managers with round-the-clock coverage (July 2026)
Orako Turnkey Sportsbook
The all-in-one omnichannel sportsbook launched June 27, 2022 on the 2019 Optima acquisition: fully managed or self-managed modes, ISO-certified, aimed at Africa, Europe, LatAm, and North America, with the operator carrying the licensing burden.
- Launched June 27, 2022 on the platform base acquired with Optima in 2019
- Fully managed or self-managed operating modes, omnichannel across online and retail
- ISO 27001, ISO 20000, and ISO 9001 certifications cited on the product
- Positioned for Africa, Europe, LatAm, and North America
- Sold beside the feed and MTS, so one vendor spans data supply and platform competition
Platform & capabilities
Everything the product does out of the box. If a feature isn't listed, the vendor either doesn't offer it or doesn't say.
Risk maturity
Operators check this capability first, and depth varies enough between vendors to grade it.
The history
Sales decks get rewritten for every deal. A dated record doesn't.
Carsten Koerl founded the company in St. Gallen in 2001 and still runs it 25 years later, with the Betradar brand carrying the betting business through the 2000s and 2010s (betradar.com is still live). The modern shape came in three moves: the 2019 Optima acquisition that became the Orako turnkey, the September 2021 Nasdaq IPO at $27 a share ($513M raised at roughly $8B, Michael Jordan among the investors, Koerl keeping about 82% of votes through Class B stock), and a rights-buying run that locked the NBA, NHL, MLB, ATP, UEFA, and Bundesliga into multi-year exclusives, several paid partly in equity. The IMG Arena close of November 3, 2025 folded in UFC, PGA TOUR, MLS, EuroLeague, and three tennis majors, with $225M flowing to Sportradar to take the book. FY2025 printed EUR 1,290M in revenue (+17%) and EUR 100M of profit, and 2026 opened with guidance of EUR 1,557-1,582M and a buyback expanded to $1B.
Brands & clients on the platform
Corporate
- Optima (2019)
- IMG Arena (2025)
Leadership
Milestones
- 2001
Carsten Koerl founds the company in St. Gallen, with Betradar as the betting-industry brand of the early years.
- 2019
Acquires the Optima sportsbook platform, the base of the later Orako turnkey.
- 2021
Nasdaq IPO on September 14 at $27 a share raises $513M at roughly $8B, the NBA signs an 8-year exclusive data deal and takes about 3% equity, the NHL signs for 10 years and buys $10M+ of stock, and the US supplier-license count reaches 26 by December 17.
- 2022
Orako launches June 27, Ontario's AGCO registers Sportradar on April 5, and the North American license count reaches 36.
- 2023
ICC cricket rights rotate to Stats Perform after the 2021-2023 cycle, the first marquee loss of the modern rights race.
- 2024
The ATP cycle to 2029 begins, Bundesliga extends to 2031-32 (February 26), UEFA extends through 2026-27 (July 11), Huddle props start shipping inside UOF (July 2), and North Carolina makes it 56 licenses or equivalents (March).
- 2025
MLB extends and expands to 2032 with equity (February), the IMG Arena deal is announced March 19 and closes November 3 with $225M flowing to Sportradar, and the UK CMA clears it October 2 on a failing-firm counterfactual.
- 2026
FY25 prints EUR 1,290M revenue and EUR 100M profit with the buyback expanded to $1B (March 3), DFB-Pokal extends (March 23), Hard Rock Bet adds PGA TOUR and UFC data (March 26), Wimbledon extends (June 4), and Kalshi signs the prediction-market partnership (June 8).
Where they're pushing next
- Prediction markets through the Kalshi lane signed June 8, 2026, with direct contracting to Kalshi's brokers and market makers on the table
- The US state supplier roll, which has run 26 to 56 licenses since December 2021 as new markets regulate
- IMG Arena cross-sell into the existing book, with Hard Rock Bet (March 26, 2026) as the first dated proof
Awards & recognition
Longevity and ownership
Switching vendors is expensive, which makes the company's staying power part of the purchase. What the contract says about your data decides how expensive an exit gets.
Sportradar vs alternatives
No two vendors describe themselves the same way, which makes their own claims hard to line up. Every name here answers the same fields, so you can see where this one sits against the closest alternatives.
| Attribute | Sportradar | Genius Sports | Stats Perform | LSports |
|---|---|---|---|---|
| Founded | 2001 | 2000 | 1981 | 2012 |
| Team | 3,900+ | 2,600+ | 3,300+ | — |
| Sportsbook | Yes | Yes | Yes | Yes |
| Licenses | — | Tennessee, Massachusetts, Ohio | — | — |
| US market | Available | Available | Available | Available |
| Pricing | Not published | Not published | Not published | On request |
| Trading model | Managed via MTS or tools-only | Managed | None sold | Tools only |
| Bet builder | — | Own engine | — | — |
| Sports | — | — | — | 100+ |
The take: Genius Sports is the mirror-image gatekeeper, NFL and EPL exclusives against Sportradar's NBA, NHL, and MLB, with a loss-making P&L against Sportradar's EUR 100M profit. Stats Perform took the two properties Sportradar lost (FIFA World Cup 26 betting data and ICC cricket) and publishes the only quantified stream-latency claim of the big three. LSports is the value counterpoint with no rights strategy at all. Pick Sportradar when official US league data, one-feed consolidation, or outsourced trading decides it, and price the supplier-competitor dual role into the trust column.
Pricing & terms
Sportradar quotes pricing per project. Here's how the model and the terms are structured.
GGR revenue share on MTS with no published bands, and feed or turnkey pricing quoted deal by deal
Turnkey
Support & account management
You can't demo service before you sign, so what a vendor puts in writing is the only floor you can hold it to.
Frequently asked
The things operators actually ask before signing.
Which leagues can a US sportsbook only get from Sportradar, and until when?+
Exclusive official betting data runs for the NBA, WNBA, and G League through 2031, the NHL through the 2030-31 season, and MLB through 2032 after the February 2025 extension, so there is no alternative official source for the three biggest US leagues until the next decade. The IMG Arena close (November 3, 2025) added exclusive official data for UFC, PGA TOUR, MLS, EuroLeague, the US Open, and Roland-Garros. The misses are real too: FIFA picked Stats Perform for World Cup 26 betting data (January 12, 2026), and the ICC moved its cricket rights there after 2023.
How is MTS priced, and does Sportradar take the book risk?+
MTS is priced as a revenue share tied to the operator's GGR, and no rate bands have ever been published, so the real number comes out of negotiation. The liability stays with the operator: Sportradar supplies pricing, liability management, and trading operations as a service, and it has never taken book risk onto its own balance sheet. Scale is the sales argument, with 200+ operators and 3.5 billion-plus tickets processed in the year to July 2024, and OneFeed lets the desk trade third-party content an operator brings from other suppliers.
Can I get odds from other suppliers through the Sportradar feed?+
Yes, and it is one of the stranger facts of the segment. UOF distributes third-party content, with Huddle's player props and micro-markets shipping inside the feed since July 2024 as the proof case, and OneFeed converges outside feeds so MTS can trade non-Sportradar content. That makes Sportradar the rail its own competitors ride to reach operators, which cuts both ways: one integration covers more content, and the rail owner is also everyone's rival.
What happens to UEFA data after the 2026-27 season?+
Unresolved. The current deal, extended July 11, 2024, makes Sportradar the exclusive gambling-data distributor for UEFA club and national-team competitions through the 2026-27 season at 900+ matches a season, and no renewal had been announced as of July 11, 2026. Treat it as a renewal watch item: FIFA's World Cup 26 betting data already went to Stats Perform, so a UEFA loss would move a second marquee soccer property off the book.
What did Sportradar actually get from the IMG Arena deal?+
A rights portfolio of 70+ rightsholders and 460+ deals covering roughly 38,000 official data events and 29,000 streaming events a year across 14 sports, including UFC, PGA TOUR, MLS, EuroLeague, Wimbledon, the US Open, and Roland-Garros. The structure was the remarkable part: $225M in total consideration flowed TO Sportradar for taking the book, roughly $122M as seller prepayments to rightsholders and $103M payable to Sportradar over two years, and the UK CMA cleared the deal unconditionally on October 2, 2025 using a failing-firm counterfactual, accepting that IMG Arena would otherwise have exited.