ST. GALLEN, Switzerland, May 13, 2024 (GLOBE NEWSWIRE) -- Alpha Odds, Sportradar’s (NASDAQ: SRAD) AI-driven personalised odds technology, boosted profits for sportsbook operators by an average of 15% during the UEFA European Championship Qualifying Matches.* With the upcoming UEFA Euro 2024 anticipated to generate more than €62.2 billion in global betting turnover, operators can maximize profits and manage risk by utilizing this product during the quadrennial tournament.
Launched in 2022, Alpha Odds leverages Sportradar’s advanced AI technology to more accurately predict the probability of a game event taking place, enabling operators to manage their risk more effectively. When combined with real-time and predicted liquidity, Alpha Odds allows operators to generate bespoke betting prices in line with their risk exposure and liabilities.
As examples of how Alpha Odds increased profitability for operators during the UEFA Euro 2024 Qualifiers, where one team was heavily favoured, Alpha Odds helped clients manage risk in real-time and continue to accept bets as goals were tallied and the scoreline grew. Additionally, while a conventional odds service would have left operators vulnerable to a matchday of customer friendly results, such as all the favourites winning at home by two or more goals, Alpha Odds’ predictive capabilities enabled instant adjustments, safeguarding sportsbooks against significant losses, as a match unfolded.
Darren Small, Senior Vice President of Managed Trading Services (MTS) at Sportradar said: “The predictive capabilities that Sportradar has developed for Alpha Odds are proving to be a game changer ahead of this summer’s tournament, enabling operators to consistently improve profitability and deliver higher margins across soccer betting.”
Alpha Odds is available across Sportradar’s portfolio of betting markets for soccer and tennis, both pre-match and in-play. The solution will be expanded across basketball later in 2024.
*Based on an analysis of more than 11 million betting tickets placed across 60+ Sportradar clients for the qualifying matches held between March 2023 and March 2024.
About Sportradar
Sportradar Group AG (NASDAQ: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports, media and betting industries, the company provides sports federations, news media, consumer platforms and sports betting operators with a best-in-class range of solutions to help grow their business. As the trusted partner of organizations like the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA and Bundesliga, Sportradar covers close to a million events annually across all major sports. With deep industry relationships and expertise, Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved.
For more information about Sportradar, please visit www.sportradar.com.
Sportradar Contacts
Media:
Sandra Lee
press@sportradar.com
Investor Relations:
Jim Bombassei
Investor.relations@sportradar.com
