Sportradar is leveraging Brazil as a test market for a new breed of fan engagement products, CEO Carsten Koerl told investors.

During the company’s H1/Q2 call, Koerl provided an update to Sportradar’s activities in Brazil, where it is looking to intertwine the worlds of sports betting and iGaming.

“Our perspective is that iGaming should not be treated as separate from sports betting. They belong to each other,” Koerl said. “At the moment, however, they are separated.”

This is what Sportradar is currently experimenting with in Brazil – creating a ‘360 degree’ service that bridges both verticals together for partnering companies.

To better illustrate what that looks like, Koerl gave a tennis match as an example where a 20-second break to change balls would bring up a tennis-themed, slot-like minigame that occupies the bettor’s attention during the pause, therefore improving product engagement.

Sportradar is currently integrated with 50 out of the 70 operators active in Brazil, making it the biggest data player on that market. This means that it can play a significant trend-setting role in the region if the proposition proves successful enough.

Looking at geographical distribution, Rest of World revenues were up 11% YoY for the first six months of the year, capped at €455m (H1’ 24: €411m).

All eyes still on Asia

Koerl also highlighted some notable markets that he believes are worth keeping an eye on, reiterating the firm’s focus on some jurisdictions earmarked during its last earnings call. 

The Asia-Pacific region is of particular interest to Sportradar, as Koerl believes it will go through a favourable regulatory transition in the next 12 months.

The CEO underscored that Sportradar remains a “strong promoter for Japan”, and that he’s keenly looking at the “nice developments” in India and Thailand, with the latter being the more progressive in his eyes. There’s also Europe, where the firm is actively preparing together with partnering operators for the 2026 FIFA World Cup.

In the US, the company has maintained strong momentum, with H1 revenues up 31% YoY (€174m) compared to the €133m last year. “The US is a strong market with big opportunities,” Koerl added.

Sportradar saw strong conversion from in-play betting in the US, with around 50% in-play-to-pre-match betting ratio. Koerl believes that this trend will continue towards 70% in favour of in-play, with 1% conversion equalling €6m EBITDA by 2029.

The acquisition of IMG Arena is still anticipated to close in Q4, with Sportradar management confident it will boost content offering, particularly around soccer, tennis and basketball.

In line with half-year results, Sportradar has updated its 2025 financial outlook and now expects at least €1.7bn in revenue representing 16% YoY growth, together with Adjusted EBITDA of at least €284m to reflect anticipated FX fluctuation.

IMG Arena has not been included in the guidance, but will be incorporated once the deal closes.

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