NBA Signs Sports Betting Data Deal with Genius Sports and Sportradar
In what is the latest partnership between a major sports league and the gambling industry, the National Basketball Association has partnered with well-known firms – Genius Sports Group and Sportradar AG – and have announced that these two have non-exclusive rights to distribute the NBA’s official data to bookmakers all over the U.S.
As a result of the multi-year deal, both Genius Sports and Sportradar are now the sellers of the most accurate and fastest NBA and WNBA betting data. This makes them some sort of a pathway between the sports league and many casinos that offer sports betting across the country.
Neither the two sports firms nor NBA has shared any financial details. However, the numbers are expected to be high since such type of deals tend to be the most expensive kind when it comes to the sports gambling industry. This is because live betting has been growing to be an extremely popular form of betting.
Also referred to as in-play betting, live betting is where punters bet on the small possibilities of a game, such as which player will commit the next foul or free throw. This means that bookmakers need to have access to the fastest and most reliable information so that gamblers can wager on these small possibilities. Some refer to this is as micro-betting.
According to the VP of the NBA’s fantasy and gaming department, Scott Kaufman-Ross, the deal enables the NBA to fulfill its desire to let all legal operators use their official data for sports betting activities while ensuring that the marketplace remains competitive. Commenting on the non-exclusive nature of the deal, Scott said that this is not something that sports leagues across the world usually do, which makes the deal more interesting and unique.
What’s in it for the sports firms?
Genius Sports is a firm based in London, and this deal is the perfect opportunity to secure validation within the growing U.S. market. Ever since the U.S. Supreme Court, in May 2018, legalized sports betting across the country, the market for sports gambling has grown at an exponential rate.
Jack Davison, Chief Commercial Officer of Genius Sports, said that his firm aids sportsbook operators by providing them with the expertise, resources, and technology required to make the best use of the data.
Sportradar, on the other hand, has pre-existing deals with NBA, one of which is for the firm to distribute the sports league’s overseas gambling information.