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Sportradar Reports Strong Growth In First Quarter 2022

Published

4 years ago

May 18, 2022

Reading Time: 6 minutes

Overall revenue increased 31%; U.S. revenue increased 124% year over year
Company reiterated annual outlook for fiscal 2022 projecting strong annual revenue growth of 18% to 25%

Sportradar Group AG, the leading global technology company enabling next generation engagement in sports, and the number one provider of business-to-business solutions to the global sports betting industry, today announced financial results for its first quarter ended March 31, 2022.

First Quarter 2022 Highlights

Revenue in the first quarter of 2022 increased 31% to €167.9 million ($186.4 million)¹ compared with the first quarter of 2021, driven by strong growth across all business segments. In particular, the U.S. segment revenue grew by 124% to €25.7 million ($28.5 million) compared with the first quarter of 2021.
Adjusted EBITDA² in the first quarter of 2022 decreased 5% to €26.7 million ($29.6 million)¹ compared with the first quarter of 2021 primarily due to higher costs associated with being a public company as well as reversal of certain temporary COVID-19 related cost savings versus the first quarter of 2021.
Adjusted EBITDA margin² was 16% in the first quarter of 2022, compared with 22% over the prior year period.
Adjusted Free Cash Flow² in the first quarter of 2022 increased by 100% to €12.9 million, compared with the prior year period. The resulting free cash flow conversion² was 48% in the quarter.
Strong Net Retention Rate², based on the last twelve months, increased to 121% at the end of the first quarter of 2022 compared with 107% the same period in 2021 highlighting the continued success of the Company’s cross-sell and upsell strategy across its global customer base.
Cash and cash equivalents totaled €715.5 million as of March 31, 2022. Total liquidity available for use at March 31, 2022, including undrawn credit facilities was €825.5 million.
The Company reiterated its previously provided annual outlook for full-year 2022 for revenue and Adjusted EBITDA². Please see the “Annual Financial Outlook” section of this press release for further details.

Key Financial Measures	Q1	Q1	Change
In millions, in Euros €	2022	2021	%

Revenue	167.9	128.5	31%

Adjusted EBITDA²	26.7	28.2	(5%)

Adjusted EBITDA margin²	16%	22%	–

Adjusted Free Cash Flow²	12.9	6.5	100%

Free Cash Flow Conversion²	48%	23%	–

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1} For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on March 31, 2022, which was €1.00 to $1.11.
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 fiscal 2022 is off to a fast start, with core, high-margin betting products driving growth around the world. Our U.S. business continues its tremendous growth story as more states legalize and sports betting becomes live, mainstream entertainment. As the market leader, our technology and data-driven insights continue to transform the converging media, entertainment and sports industries and fuel our consistent and long-term profitable growth story.”

Segment Information

RoW Betting

Segment revenue in the first quarter of 2022 increased by 25% to €86.7 million compared with the first quarter of 2021. This growth was driven primarily by increased sales of our higher value-add offerings including Managed Betting Services (MBS) which increased 51% to €26.4 million and Live Data/ Odds Services, which increased 16% to €46.8 million. MBS growth is attributable to increased turnover³ and Live Data/ Odds Services grew as a result of upselling content to existing customers. MBS includes Managed Trading Services (MTS) and Managed Platform Services (MPS). Additionally, increased content sales from the Synergy acquisition contributed to the growth.
Segment Adjusted EBITDA² in the first quarter of 2022 increased by 13% to €44.6 million compared with the first quarter of 2021. Segment Adjusted EBITDA margin² decreased to 51% from 57% in the first quarter of 2021 driven by temporary savings in sport rights and scouting costs in the prior year related to the COVID-19 pandemic as well as acquisition of new sport rights.

RoW Audiovisual (AV)

Segment revenue increased in the first quarter of 2022 by 17% to €45.9 million compared with the first quarter of 2021. This growth was primarily a result of increased content from Tennis Australia and the National Hockey League (NHL) as well as upselling content from the Synergy acquisition.
Segment Adjusted EBITDA² in the first quarter of 2022 was flat at €8.9 million compared with the first quarter of 2021. Segment Adjusted EBITDA margin² decreased to 19% from 23% compared with the first quarter of 2021 primarily due to higher sports rights costs driven by the easing of the COVID-19 pandemic versus prior year, and acquisition of new sports rights.

United States

Segment revenue in the first quarter of 2022 increased by 124% to €25.7 million compared with the first quarter of 2021. This growth was driven by increased sales of U.S. Betting services primarily as a result of new states legalizing betting. We also experienced growth from increased sales to media companies and a positive impact from the acquisition of Synergy Sports.
Segment Adjusted EBITDA² in the first quarter of 2022 was (€6.4) million compared with the first quarter of 2021 of (€3.6) million, primarily due to increased investment in the Company’s league and team solutions focused business. Segment Adjusted EBITDA margin² improved to (25%) from (32%) compared with the first quarter of 2021 reflecting an improvement in the U.S. segment operating leverage.

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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

Personnel expenses in the first quarter of 2022 increased by €13.7 million to €52.3 million compared with the first quarter of 2021 primarily resulting from additional hires in the Company’s product and technology organizations across high and low-cost locations. Employee headcount increased by 620 to 3,075 full time employees at the end of the first quarter of 2022 compared with the first quarter of 2021.
Other Operating expenses in the first quarter of 2022 increased by €5.0 million to €19.5 million compared with the first quarter of 2021 mainly driven by higher costs associated with being a public company, and the reversal of temporary COVID-19 related cost savings versus the prior year.
Total Sport rights costs in the first quarter of 2022 increased by €13.1 million to €54.0 million compared with the first quarter of 2021, primarily resulting from new rights for 2022 for ICC, UEFA, ATP and a normalized schedule in sports such as NBA, NHL and MLB, as COVID-19 pandemic restrictions eased.

Recent Business Highlights

In April 2022, Sportradar acquired Vaix, a pioneer in developing AI solutions for the iGaming Industry. Vaix’s innovative AI technology allows betting and gaming operators to gain a personalized view of their customers, which provides a more targeted, player-friendly experience. Sportradar has partnered with Vaix previously and incorporated its technology into its Managed Trading Services (MTS) offering. Sportradar’s MTS solution is a sophisticated trading, risk, live odds and liability management offering that helps betting operators boost margins and profits, while increasing efficiency and managing risk.
Sportradar was awarded a supplier registration for online/mobile wagering in Ontario. With this registration for online/mobile wagering from the Alcohol and Gaming Commission of Ontario, Sportradar now holds over 36 licenses in North America across states, territories, tribes, and Canada. Additionally, Sportradar Integrity Services and the Canadian Hockey League announced a multi-year education and bet monitoring services agreement. This new relationship increases Sportradar Integrity Services’ portfolio of ice hockey partners to nine different leagues and federations around the world and strengthens its leadership position across North American sports leagues.
The Company continued to strengthen its U.S. leadership by appointing former Fiserv executive Michael Gandolfo as Group Head, Regional Sales. Gandolfo led Fiserv’s Large Financial Institution Sales and Service Team, responsible for over 300 top financial institutional clients.
Norwegian state gaming operator, Norsk Tipping, will deploy Sportradar’s internet-based Self-Service Betting Terminal (iSSBT) into 245 retail outlets across Norway to support the gaming operator’s growth. iSSBT is deployed in over 500 retail outlets, enabling Norsk Tipping to establish a mobile-first and online digital strategy, along with a retail presence.
Sportradar continued to advance its mission to detect, investigate and prevent betting-related match-fixing, doping and other threats to the integrity of sport by announcing a multi-year integrity partnership with NASCAR, an expansion of a previous agreement to provide bet monitoring and reporting with its Universal Fraud Detection System (UFDS), launching a Sportradar Integrity Exchange, a network that enables bookmakers to report suspicious betting activity and extended its work with the Austrian Federal Criminal Police on anti-doping.
The Company also announced that it will act as an advisor to Bowl Season on the sports betting space in a responsible manner, with a focus on educating the organization’s membership on the rapidly evolving world of sports betting, as well as the opportunity to expand the scope to include Sportradar’s Integrity Services.

Annual Financial Outlook

Sportradar is reiterating its outlook for fiscal 2022 provided on March 30, 2022 as follows:

Revenue is expected to be in the range of €665.0 million to €700.0 million ($738.2 million to $777.0 million)¹, representing growth of 18% to 25% over fiscal 2021.
Adjusted EBITDA² is expected to be in the range of €123.0 million to €133.0 million ($136.5 million to $147.6 million)¹, representing growth of 21% to 30% over fiscal 2021.
Adjusted EBITDA margin² is expected to be in the range of 18.5% to 19.0%, an improvement over the prior year.⁴

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1}For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on March 31, 2022, which was €1.00 to $1.11.
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.

Brazil

Esportes da Sorte campaign celebrates fans’ resilience in support of Brazil

Published

19 minutes ago

May 12, 2026

GamingAmericas.com

esportes-da-sorte-campaign-celebrates-fans’-resilience-in-support-of-brazil

“Cheer Like a Corinthian”

In a World Cup year, Corinthians’ master sponsor uses the unwavering loyalty of the club’s fanbase as an example.

Brazilians’ relationship with the national team and their passion for football take on a new perspective in a World Cup year.

Master sponsor of Corinthians, Esportes da Sorte reinforces the club supporters’ long-standing reputation for unconditional loyalty with the launch of the “Cheer Like a Corinthian” manifesto, a movement aimed at reconnecting Brazilian fans with the national team.

Created by Agência Brenda, the project seeks to redefine the term “to choke” (“amarelar” in Portuguese), transforming it into a call for unwavering belief and determination.

“The campaign draws inspiration from the symbolic strength of Corinthians fans and football’s power to emotionally unite the country.

The idea is to encourage Brazilian supporters to reconnect with the national team through values such as loyalty, presence, and unconditional support,” said Davi Oliveira, Sponsorships Head at Grupo Esportes Gaming Brasil, owner of the Esportes da Sorte brand. Watch the video here.

The campaign debuted on Sunday (10), airing on TV Globo during programs such as Em Família, Eliana, and Fantástico. Simultaneously, the video was displayed on the giant screen at Neo Química Arena during the Corinthians 3–2 São Paulo derby, valid for the 15th round of the Brazilian Championship.

To bring the concept to life, players entered the pitch wearing shirts featuring the phrase “Cheer Like a Corinthian,” which was also displayed across the stadium’s LED boards.

Fans received handheld banners in the stands, while a giant flag bearing the campaign slogan was unveiled by supporters.

Directed by Lucca Meloni and Adriano Alarcon (Nocandy), the film’s visual identity uses symbolic elements to reinforce a sense of persistence.

Rain appears in unexpected settings, while the soundtrack, based on authentic fan chants — creates an immersive sensory atmosphere.

The production also featured real supporters, including historian Fernando Wanner and iconic Corinthians fan Wanda Vitorino, adding authenticity to the message.

“This campaign was developed with great responsibility because we were entering sacred territory. Hearing from legendary players like Marcelinho Carioca that we were on the right path was extremely important,” said Raphael Pinteiro, partner at Agência Brenda.

“Our intention was to inspire Corinthians fans through pride while making supporters of other clubs agree with the message: Brazil’s supporters need this spirit and determination,” added Bernardo Barbosa, also a partner at the agency behind the campaign.

“Convoque” campaign

Also inspired by the World Cup, Esportes da Sorte launched the “Convoque” campaign on Friday (8), using the brand’s iconic blue hat as a portal to a playful universe.

The film features celebrities such as Léo Santana, Jojo Todynho, and Marcelinho Carioca, transforming the user journey into a fun and immersive experience while always promoting responsible gaming.

Esportes da Sorte

Esportes da Sorte is one of Brazil’s leading sports betting platforms, operating entirely within the country and licensed by the Ministry of Finance (SPA/MF) under Esportes Gaming Brasil — the group that also owns the Onabet and Lottu brands.

The company belongs to a Great Place to Work-certified group and generates around 1,000 direct and indirect jobs. Its core pillars include innovation, responsible gaming, and support for market regulation.

Esportes da Sorte maintains strategic partnerships with institutions such as ANJL, IBIA, Sportradar, EBAC, and IAA, strengthening practices related to oversight, gambling harm prevention, and user protection.

Beyond sports betting, the company consistently invests in sports, culture, and social initiatives. It serves as master sponsor of clubs including Corinthians, Ceará, Ferroviária, and Náutico, while also supporting major cultural events such as Galo da Madrugada, Carnival celebrations in Recife, Olinda, Salvador, Maceió, Natal, Caicó, Belo Horizonte, Rio de Janeiro, and São Paulo, as well as the Parintins Festival.

The brand also expands its digital presence through creative campaigns and influencer partnerships, strengthening engagement with audiences across online platforms.

The post Esportes da Sorte campaign celebrates fans’ resilience in support of Brazil appeared first on Americas iGaming & Sports Betting News.

apuestas deportivas

¿Por qué Pix es central en la lucha contra el mercado ilegal de apuestas?

Published

19 minutes ago

May 12, 2026

GamingAmericas.com

¿por-que-pix-es-central-en-la-lucha-contra-el-mercado-ilegal-de-apuestas?

Este artículo de opinión del CEO de Pay4fun, Leonardo Baptista, analiza por qué Pix se ha convertido en una de las herramientas más estratégicas para combatir el mercado ilegal de apuestas en Brasil y por qué el rastreo financiero puede ser más efectivo que simplemente bloquear sitios web.

Segun su publicación en el portal Poder360, existe actualmente una pregunta recurrente cuando hablamos del mercado de apuestas en Brasil: ¿por qué el sector ilegal sigue operando incluso después de la regulación?

La respuesta es simple y, al mismo tiempo, incómoda: porque aún no hemos abordado el problema de la forma más eficiente.

Durante mucho tiempo, los esfuerzos para combatir las apuestas ilegales se centraron en el bloqueo de sitios web. Es una medida importante, pero insuficiente.

La dinámica es conocida: se bloquea un dominio hoy, otro aparece mañana con pequeñas variaciones. Es una tarea casi interminable, a menudo descrita por el propio sector como “una lucha sin fin”.

Si realmente queremos ser efectivos, necesitamos cambiar el enfoque.

El camino es otro: seguir el dinero — y es precisamente aquí donde Brasil tiene una enorme ventaja competitiva: Pix.

Hoy, Pix es el único medio de pago aceptado en el mercado de apuestas del país. Por primera vez, esto proporciona a las autoridades un instrumento capaz no solo de rastrear, sino principalmente de interrumpir el flujo financiero que sostiene estas operaciones.

Cuando se corta el flujo de pagos, se corta el negocio.

Este movimiento ya ha comenzado.

La Secretaría de Premios y Apuestas (SPA) ahora cuenta con herramientas de fiscalización más estrictas contra instituciones que operan de forma ilegal. Las multas pueden alcanzar valores extremadamente significativos.

Al mismo tiempo, el Banco Central ha aumentado sustancialmente los requisitos para las instituciones de pago.

Este segundo punto es fundamental.

En los últimos años, Brasil ha sido testigo de la proliferación de instituciones más pequeñas, muchas veces con estructuras de control débiles.

Con requisitos más estrictos de capital, cumplimiento y prevención de lavado de dinero, muchas de estas operaciones han salido del mercado.

En la práctica, esto ya ha reducido el espacio para la actividad ilegal.

Pero aún no es suficiente. El mercado irregular sigue representando una parte significativa del sector: las apuestas ilegales representan actualmente entre el 41% y el 51% del mercado brasileño, según una investigación de Instituto Locomotiva y LCA Consultoria Econômica.

En otras palabras, estamos hablando de un enorme volumen de recursos que no generan impuestos, empleo ni protección al consumidor — pérdidas que podrían alcanzar hasta R$40 mil millones por año en ingresos fiscales, según las mismas estimaciones del sector.

Esto nos lleva a otro punto importante: no tiene sentido discutir aumentos de carga tributaria o restricciones adicionales para las empresas que operan dentro del mercado regulado mientras una parte tan grande continúa operando fuera de la ley.

Si aumenta la presión sobre los operadores regulados, el efecto es directo: los operadores — y muchas veces los propios usuarios — se desplazan hacia el mercado ilegal.

La forma más eficiente de aumentar la recaudación no es subir impuestos, sino traer la actividad ilegal al mercado legal. Si eso ocurre, el sector regulado prácticamente se duplicaría en tamaño y, con ello, también los impuestos recaudados.

Por eso, el enfoque debe ser claro: fiscalización.

La supervisión de los medios de pago, proveedores y operadores en ambos lados del mercado es esencial. Ya no hay espacio para empresas que permanezcan “en la zona gris”, atendiendo simultáneamente al mercado regulado y al ilegal.

Otro punto que necesita avanzar es la integración regulatoria.

El Banco Central y la Secretaría de Premios y Apuestas deben trabajar cada vez más en conjunto. La lucha contra la ilegalidad depende directamente de esta coordinación.

Brasil ha construido un modelo regulatorio sólido para las apuestas en relativamente poco tiempo. El mercado está funcionando, generando ingresos, empleo y protección al usuario.

Ahora el país entra en una nueva fase: la consolidación.

En esta etapa, no debe haber dudas sobre dónde concentrar los esfuerzos.

La lucha contra el mercado ilegal no ocurrirá en la superficie, simplemente eliminando sitios web. Ocurrirá a través de los flujos financieros. Pix nos da esa posibilidad.

Quizás sea la herramienta más poderosa que tenemos hoy.

La pregunta no es si puede ayudar. La verdadera pregunta es hasta qué punto estamos dispuestos a utilizarla de forma efectiva.

Leonardo Baptista

Es CEO y cofundador de Pay4Fun, una institución de pago reconocida por su tecnología, seguridad y prevención del lavado de dinero en el mercado regulado de apuestas en Brasil.

Con más de 20 años de experiencia en los sectores de gaming y tecnología de la información, creó en 2004 el primer bingo online del país. En 2022 fue nombrado uno de los 10 CEOs más inspiradores por CIO Business Review.

The post ¿Por qué Pix es central en la lucha contra el mercado ilegal de apuestas? appeared first on Americas iGaming & Sports Betting News.

Flashscore

Flashscore tops speed rankings in UK fan survey ahead of 2026 World Cup

Published

1 hour ago

May 12, 2026

Wladimir P.

flashscore-tops-speed-rankings-in-uk-fan-survey-ahead-of-2026-world-cup

Flashscore has been ranked the fastest sports results platform by UK fans, according to new research into how audiences consume live sport.

In the UK survey of 2,000 sports fans, 46% identified Flashscore as the quickest platform. Flashscore said the pattern was similar in Italy, where 49% of 2,000 respondents named Flashscore the fastest, and in Brazil, where 53% of 3,300 participants reached the same conclusion.

Respondents also associated Flashscore with reliability. In Italy, Flashscore (known locally as Diretta) was recognised as being more accurate than competitors and national broadcasters’ platforms, while in the UK and Brazil it was recognised as being equal to or close to competitors and national broadcasters’ platforms.

Flashscore Director of Engineering Tomáš Kavka said: “It is not one magic technology that solves everything, it is a lot of small and larger right decisions over time.

“Serving a user in South America from Europe is technically possible, but speed is in our DNA. If we want to be the fastest on every continent, we need to be as close as possible to the user. And the data needs to reach that location the moment it appears in our database.”

The company said it continues to scale globally in its 20th year since launch, reporting more than 125 million monthly users worldwide, more than 400 million app downloads across its portfolio, and approximately 145 billion monthly impressions. Flashscore also reported over four million UK downloads, more than two billion monthly impressions, and average daily time spent close to 30 minutes. On infrastructure, Flashscore said it moved to a new data centre in Prague in 2024, tripling processing capacity, and uses a distributed cloud architecture. It added that during a major Champions League matchday earlier this season it handled 34 million users in a day, delivered 700 million notifications, and processed up to 1.3 million requests per second.

The post Flashscore tops speed rankings in UK fan survey ahead of 2026 World Cup appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.