A legal sports betting data aggregator is solidifying its presence in a new state.
Sportradar has been awarded a temporary sports betting supplier license from the Maine Gambling Control Unit. The license, which was granted for Sportradar’s U.S. subsidiary, is the 53rd sports betting license Sportradar has been granted across North America, including tribes.
Sportradar secured its license ahead of the launch of both online and retail sports betting in Maine on Nov. 3. The state is now the 38th U.S. jurisdiction to authorize sanctioned wagering.
Maine authorized sports wagering after the state’s attorney general’s office vetted proposed betting rules. The rules require online sports betting operators to partner with four federally recognized Native American tribes to operate in the state. As of Nov. 9, Caesars Sportsbook and DraftKings are the only sportsbooks accepting online wagers throughout Maine.
Other gambling operators, including FanDuel, delayed wagering license applications in Maine following the constant change of the state’s betting rules. Maine is projected to generate between $3.8 million and $6.9 million in revenue annually from retail and online sports betting.
Staying busy
Sportradar receiving a supplier license in Maine adds to a busy end of the year for the company.
Earlier this month, Sportradar agreed to a multiyear partnership with Caribbean CAGE — a Latin American and Caribbean gaming company — to be named an official technology provider.
As part of the pact, Sportradar will provide CAGE Companies with its player account management system and sports betting solutions to launch an omnichannel sportsbook. CAGE Companies plans to launch wagering in Barbados, Saint Lucia, and other jurisdictions.
The Switzerland-based business generated $211.8 million in revenue in Q3 2023 — a 12% increase year-over-year. Sportradar’s U.S. segment, which includes sports betting operations, reported $36.9 million in revenue during the quarter — an 11% uptick compared to Q3 2022.
Its Rest of World segment posted $118.2 million in revenue in Q3, an 11% increase compared to the same period last year. The growth was attributed to an increase in sales of live data. Sportradar projects full-year revenue in 2023 to range between $915 million and $926 million.
