Sportradar expands footprint in Brazil’s newly regulated betting market

SÃO PAULO - Sports technology company Sportradar (NASDAQ:SRAD), with a market capitalization of $8.06 billion, is strengthening its position in Brazil’s newly regulated sports betting market, which became formally regulated at the start of this year.

Brazil’s online gross gaming revenue is projected to more than double from R$18.4 billion ($3.18 billion) in 2023 to R$50.5 billion ($8.75 billion) by 2029, according to industry estimates cited in a company press release. This expansion opportunity comes as Sportradar demonstrates strong momentum, with InvestingPro data showing impressive revenue growth of 23.07% in the last twelve months.

Sportradar opened its first office in Brazil this year, marking a significant step in its Latin American expansion strategy. The company has been active in the country for nearly a decade, working with local leagues, federations, and regulators.

Of the approximately 80 operators granted licenses in Brazil so far, 50 are Sportradar clients, with 35 outsourcing their complete risk management and trading operations to the company, according to data shared at Sportradar’s April 2025 Investor Day.

The company’s Sportradar Integrity Services monitors betting patterns to detect potential match-fixing. Its monitoring has shown a 48% decrease in suspicious Brazilian soccer matches, with 57 suspicious matches discovered last year compared to 110 in 2023.

Sportradar has established partnerships with major Brazilian sports organizations, including the Brazilian Soccer Federation (CBF) and the Brazilian Volleyball Federation (CBV). The company also has formal working agreements with the Brazilian Federal Police and Ministry of Finance, which oversees sports betting regulation.

Beyond sports betting, Sportradar is launching its iGaming strategy in Brazil, offering products including crash games, virtual sports, slots, casino games, and live dealers.

The information in this article is based on a press release statement about Sportradar’s operations in Brazil. According to InvestingPro analysis, Sportradar maintains a "GREAT" financial health score of 3.16, though current trading levels suggest the stock may be overvalued relative to its Fair Value. InvestingPro subscribers have access to 15+ additional exclusive tips and comprehensive financial metrics for SRAD, along with detailed Pro Research Reports that transform complex Wall Street data into actionable intelligence.

In other recent news, Sportradar Group AG has been the focus of several significant developments. JPMorgan raised its price target for Sportradar to $30.00, citing the company’s successful monetization of multi-year sports data rights contracts and the potential for substantial cash generation. Macquarie initiated coverage with an outperform rating and a $32.00 price target, highlighting Sportradar’s strong position in the sports data ecosystem, supported by contracts with major U.S. sports leagues. UBS maintained its buy rating with a $29.00 price target, praising Sportradar’s effective management of sports rights costs compared to its competitors.

Additionally, Sportradar has secured exclusive betting data rights for the FIFA Club World Cup 2025, partnering with DAZN to distribute ultra-low latency betting data from the tournament. This agreement allows Sportradar to provide live odds and extensive betting markets, enhancing its offerings to betting operators and media companies. The company also announced robust fourth-quarter 2024 earnings, surpassing expectations in both revenue and EBITDA, which led JPMorgan to raise its price target to $26.00 from $20.00 earlier. These recent developments underscore Sportradar’s strategic initiatives and growth potential in the sports data industry.

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