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Sportradar Q2: prediction markets to deliver 'tens of millions' in revenue this year. The sports technology company said delayed prediction market agreements contributed to its lowered 2026 outlook, but expects the emerging sector to become a major growth driver. Updated on 4 August 2026 Global Wire Editor AI-generated image Sportradar devoted much of its second-quarter earnings call to prediction markets, with executives saying they expect the emerging sector to generate "tens of millions" of euros in revenue this year and "significantly higher" revenue in 2027. Despite reporting 19% revenue growth and signing agreements with Kalshi and Polymarket, management acknowledged that negotiations with leagues and "players in the space" took longer than expected. That contributed to a reduction in the company's full-year financial guidance. Prediction markets to generate tens of millions in revenue. Executives provided more detail on how Sportradar expects prediction markets to become a meaningful revenue contributor. CEO Carsten Koerl said the sector should generate "tens of millions" of euros this year and significantly more in 2027. Koerl said negotiations took longer than expected, partly because Sportradar needed approval from sports leagues before expanding into prediction markets. It was, for Gambling Insider in 2026, a lot of work to negotiate the deals, but also to convince its league partners that they're going into this. Gambling Insider is still in progress here with a couple of them. Gambling Insider is very optimistic that Gambling Insider found the right framework." CFO Craig Felenstein added that the delayed timing of those agreements (and missed revenue) was one of the primary reasons the company reduced its 2026 guidance. Despite the delays, management remains optimistic about the long-term opportunity. Executives also dismissed concerns that prediction markets are materially cannibalizing traditional sportsbooks. Asked about the issue during the analyst Q&A, Koerl said operators have reported little evidence that customers are shifting away from conventional sports betting. According to its clients, there is very limited cannibalization." Koerl noted that the majority of prediction market revenue comes from states like California, Texas and Florida, where there's limited or no legal sports betting available. Sportradar expands across the prediction market ecosystem. Alongside its financial outlook, Sportradar outlined a broader strategy to become an infrastructure provider for the entire prediction market ecosystem. The company has already signed multi-year agreements with Kalshi and Polymarket. Sportradar supplies the exchanges with official sports data, live odds, streaming, integrity services, fan engagement tools and customer acquisition products. The agreements also allow Sportradar to work directly with exchanges' partners, including brokers and market makers. That creates additional revenue opportunities beyond exchange operators themselves. Koerl said Sportradar remains in active discussions across the sector and expects to announce additional commercial agreements in the coming months. He also said Sportradar is developing ultra-low-latency data feeds for market makers, describing latency and deep data as "key and center" to the sector. Koerl added that the company plans to roll out a dedicated low-latency feed alongside the U.S. Open and the start of the NBA season. Management added that each prediction market agreement is structured differently. Still, Felenstein said Sportradar does not expect those deals to generate lower economics than comparable sportsbook partnerships. PlayRadar expansion targets sports betting and iGaming. Beyond prediction markets, Sportradar highlighted the continued expansion of PlayRadar, its new iGaming platform that combines sports betting with online casino products. Koerl said customers who engage with both sports betting and iGaming can generate up to five times the lifetime value of sports betting-only users. PlayRadar offers a 24/7 live experience that combines live sporting events with complementary casino games, as well as historical sports games built around iconic moments. The investor presentation showed that PlayRadar is already live globally, including in the U.K. and Ontario, Canada. In Q3, the company plans to debut the platform in the U.S, in Michigan and New Jersey, as well as the newly launched Alberta market. Koerl added that Sportradar plans to present the platform at the SBC Summit in Lisbon in September. Sportradar rejects short seller allegations. Management also briefly addressed the short-seller allegations that dominated the first-quarter earnings call. Asked about the issue, Koerl said Sportradar's Audit Committee, assisted by external legal counsel Paul Hastings, refuted the allegations. They concluded that the reports presented "a misleading narrative." He added that the company maintains a rigorous compliance framework and pointed to recent regulatory approvals and major rights renewals, including Wimbledon and the German DFB-Pokal, as evidence of continued confidence in the business. Revenue grows 19% as Sportradar cuts outlook. Sportradar reported another quarter of double-digit revenue growth but missed analyst expectations and lowered its full-year guidance. The results sent its shares down nearly 19% in premarket trading. The company also posted a wider-than-expected quarterly loss. * Revenue: €377.8 million ($434.8 million), up 19% year over year (Analyst consensus according to FactSheet: €381.7 million) * Betting Technology & Solutions: €315.4 million, up 21% year over year * Sports Content, Technology & Services: €62.4 million, up 9% year over year * Net loss: €4 million, compared with €49 million profit a year earlier (Analysts expected a profit of €0.06 per Class A share) * Adjusted EBITDA: €76.3 million, up 19% * Adjusted EBITDA margin: 20.2% * First-half free cash flow: €103 million, up 23% * Share repurchases: $140 million during the quarter; $422 million since the program began The company attributed the quarterly loss primarily to unrealized foreign exchange losses on U.S. dollar-denominated sports rights and restructuring costs related to its cost-efficiency initiatives. Sportradar also reduced its full-year outlook. The company now expects constant-currency revenue growth of 19% to 21%, down from its previous guidance of 23% to 25%. The new revenue guidance is forecasted between €1.518 billion and €1.533 billion. Adjusted EBITDA is forecast to range from €360 million to €368 million. Felenstein said the revised guidance reflected three primary factors: continued moderation in the U.S. online sportsbook market, tax and regulatory headwinds affecting operators in several jurisdictions, and the later-than-expected completion of prediction market agreements. He said the company nevertheless expects prediction markets to become an increasingly meaningful contributor to growth during the second half of the year and beyond. Stay updated with GI Follow Gambling Insider for independent news, analysis and industry expertise. Chavdar Vasilev Global Wire Editor Chavdar Vasilev is the Global Wire Editor at Gambling Insider, overseeing first-day coverage of breaking developments across the global gambling industry. His work focuses on regulation, enforcement actions, earnings, market activity, and emerging sectors, including prediction markets and sweepstakes casinos. Previously, Vasilev reported for publications including CasinoBeats and Bonus.com, covering industry-shaping stories across the U.S. and beyond, from legislative debates and market expansion to financial performance and operator strategy. Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Its team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. Gambling Insider is committed to delivering clear, impartial, and dependable coverage across the global gambling sector.

Sportradar Group reported second-quarter revenue of €378 million, up 19% year-over-year, driven by strong demand for betting content, streaming, and live data products. Adjusted EBITDA rose 19% to €76 million. The company posted a €4 million net loss, compared with €49 million profit a year earlier, due to €9 million in foreign-exchange losses and €11 million in restructuring costs. Sportradar lowered its 2026 guidance to 19-21% constant-currency revenue growth and €360-368 million adjusted EBITDA, citing slower US sportsbook growth, international regulatory pressures, and delays in prediction-market deals. The company secured agreements with Kalshi and Polymarket, positioning prediction markets as a new revenue channel expected to contribute tens of millions of euros this year.