Sportradar raised its full-year guidance after it reported a 30.7% revenue increase to €178.8m and said its US segment turned a profit in Q3.
Sportradar reported that revenue from the United States was up by 61.2% to €31.6m.
“This growth was driven by a strong increase of US betting services, driven by cross-selling non-data products to betting operators as well as benefiting from our customers’ growth as a result of a development in the underlying market and new states legalising betting,” the group said.
Rest-of-world betting services was the largest segment of the business, with revenue up 28.4% from Q3 of 2021.
This, Sportradar said, was mostly due to clients using more products in which Sportradar receives a higher revenue share, such as as managed betting services.
“This growth was driven primarily by increased sales of our higher value-add offerings including managed betting services, which increased 84% to €38.2 million, and live odds services, which increased 12% to €27..