ST. GALLEN, Switzerland and NEW YORK - Sportradar Group AG (NASDAQ:SRAD) announced today a multi-year agreement with prediction market platform Kalshi to provide sports data and solutions, according to a press release statement.
Under the agreement, Sportradar will supply official data and services covering Major League Baseball, the National Hockey League, Major League Soccer, and Ultimate Fighting Championship. The deal allows Sportradar to also contract directly with Kalshi’s partners, including brokers and market makers.
Sportradar will provide official sports data, live odds, fan engagement content, customer acquisition services, and integrity monitoring tools. The integrity services include Sportradar UFDS AI for detecting suspicious behavior and Sportradar Integrity Exchange for sharing security threats.
"Prediction markets represent a compelling growth engine for the global sports ecosystem and Sportradar is uniquely positioned to shape and power this emerging sector," said Carsten Koerl, Chief Executive Officer of Sportradar.The agreement comes as Sportradar navigates challenging market conditions, with shares down 39% over the past six months. Despite the stock decline, the company maintains a market capitalization of $4.3 billion and generated $1.53 billion in revenue over the last twelve months with 15% growth. According to InvestingPro analysis, the stock appears undervalued at current levels. The platform reveals 11 additional ProTips for SRAD, including insights on the company’s strong balance sheet with more cash than debt.
Tarek Mansour, co-founder and CEO of Kalshi, said the partnership will use official league data to enable faster trade settlements and includes an integrity monitoring program.
Sportradar, founded in 2001, provides technology solutions to betting operators, media companies, and sports organizations. The company works with sports leagues including the NBA, NHL, MLB, and UEFA.
Kalshi, founded in 2018, operates as a regulated prediction market platform in the United States. The company describes itself as the largest prediction market globally.
Sportradar stated it will provide products and services to Kalshi and other licensed prediction market entities operating in compliance with applicable regulations.
In other recent news, Sportradar Group AG reported first-quarter results that did not meet expectations, with revenue falling short by approximately €14 million, or 4%, due to lighter marketing revenue and challenges in Managed Betting Services. Following these results, BTIG adjusted its price target for Sportradar to $18 from $23 while maintaining a Buy rating. Similarly, Roth/MKM revised its price target to $18 from $20, maintaining a Buy rating as well. However, JPMorgan downgraded Sportradar’s stock rating to Neutral from Overweight, citing valuation concerns and adjusting the price target to $16 from $26.
Meanwhile, Flutter Entertainment is expected to benefit significantly from the 2026 FIFA World Cup, with Macquarie projecting a 2% to 5% increase in EBITDA by 2027 due to the event. This major sporting event is anticipated to generate about $50 billion in global wagers. Additionally, Stifel’s April U.S. online gambling tracker noted a slowdown in handle growth, with U.S. sports betting handle growth turning negative. Despite these challenges, New York saw an improvement in handle growth over the past three weeks. These developments reflect ongoing dynamics in the sports betting and gambling sectors.
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