Genius Sports, Sportradar Settle Data Collection Rift
Posted on: October 10, 2022, 02:27h.
Last updated on: October 10, 2022, 02:37h.
Genius Sports (NYSE:GENI) and Sportradar (NASDAQ:SRAD) today announced the settlement of litigation pertaining to data collection at the games of several European football leagues.
Financial terms of the settlement weren’t disclosed, and Genius is maintaining rights to provide low latency official data through 2024.
The litigation has been resolved. The resolution enables FDC to continue to license and market FDC data, in future as it determines,” according to a statement issued by Genius. “Genius Sports shall maintain the exclusive right to provide low latency Official FDC betting data rights through 2024.”
Previously, Switzerland-based Sportradar asserted Genius’ refusal to share data rights to top-flight UK football leagues was a violation of European Union (EU) and UK competition laws. Conversely, Genius claimed Sportradar was excluded from the sub-licensing group because it didn’t comply with Genius’ internal policies and procedures.
Genius Sports, Sportradar Data Dynamics
As sports wagering grows in popularity in developed markets such as the US and Europe, the data provided by companies such as Genius and Sportsradar are essential to sportsbook operators. Gaming companies need top-tier data to develop new, profitable wagering concepts for bettors.
Both companies operate in Europe, North America, and other regions. But given the devotion to football in the UK among bettors, settling the aforementioned litigation is noteworthy.
“Sportradar has agreed to refrain from unofficial in-stadia scouting of Premier League, Football League, and Scottish Professional Football League matches, and has purchased a sublicense from Genius Sports for a delayed feed to be marketed as the Official FDC Secondary Feed, through 2024. The remaining terms of the settlement are confidential,” according to the Genius statement.
Genius provides data in more than 150 countries to more than 400 sports organizations, including the NFL, EPL, FIBA, NCAA, NASCAR, AFA, and PGA. Sportradar provides data on more than 80 sports across 150 leagues in 120 countries, and its league relationships include Germany’s Bundesliga, FIFA, Major League Baseball (MLB), the NBA, NASCAR, NHL, and the WNBA, among others.
Genius Sports, Sportradar Obvious Rivals
The thesis on Sportradar and rival Genius Sports largely revolves around the growth of the regulated global sports wagering market. It envisions sportsbook operators paying up for premium data, and the ability of these companies to adequately wring profits from league data accords.
Both data providers are heavily involved with domestic sports leagues, some of which are equity owners in the companies. For example, Sportradar gave up equity to the NBA and NHL to win or extend data deals with those leagues, while rival Genius has a similar arrangement with the NFL.
The NFL was granted 22.5 million Genius warrants as part of the data accord. Should the NFL eventually exercise all of its Genius warrants, it would become the largest holder of the stock outside of the company itself.
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Source: casino.org
