The National Basketball Association (NBA) has signed its latest partnership with data suppliers, Sportradar and Genius Sports. Both companies stand as exemplary experts in the area of data analysis and they will help the NBA monetize their brands and portfolio.
NBA’s Partnerships with Genius Sports and Sportradar
The NBA will seek to expand its source of revenue by using tailored data-driven solutions provided by two of the best companies in the segment, Sportradar and Genius Sports. As a result, the association will seek to explore sports betting opportunities across the United States where the activity has been legalized.
An exciting day for Genius Sports Group's expansion in the U.S. as an official betting data partner to the @NBA. We look forward to delivering superior pre-game and live betting experiences to licensed US operators and their customers. @novy_williams https://t.co/rZkhB7neTX
— Genius Sports (@GeniusSports) November 28, 2018
NBA wants to provide people who choose to bet on the outcome of NBA matches with accurate and high-end data, which will help them place successful wagers and take their analysis from a reliable source. According to NBA Commissioner Adam Silver, the organization is committed to protecting customers and providing them with everything necessary to tailor their bets as winning ones, highlighting the expertise of the partners who will make it possible.
Sportradar and Genius Sports are proven leaders in data distribution and will deliver unparalleled, real-time official NBA betting data. As the sports betting landscape continues to evolve at a rapid pace, these new partnerships will provide robust and reliable data to ensure the best possible gaming experience for our fans in the US. -NBA Commissioner Adam Silver
NBA is no stranger to collaborating with Sportradar, for example. The association sought closer ties with the data analyst company ahead of 2016/2017 Season, with the NBA catering to overseas markets where people were actively wagering on the outcome of games.
A Promising Investment
Naturally, Sportradar themselves are quite active in the sports betting sector, providing a number of bookmakers and leagues in the United States with vital information. The National Football League (NFL) and the National Hockey League (NHL) are among the customers. Even NASCAR have a partnership with the company.
Sportradar are also catering to MGM GVC Interactive, a joint-venture promising to take on sports betting in the United States and dislodge the local champions.
According to Sportradar CEO Carsten Koerl, the United States will be expanding by leap and bounds, with “tremendous opportunities” further down the road. Naturally, Koerl acknowledged that the activity is too new, but remained convinced that the market is expanding and promising.
Meanwhile, the partnership with Genius Sports is a first landmark deal for the analytical company who are only now entering the segment. An endorsement deal with NBA would definitely bolster the company’s own good standing with other potential clients.
We are world renowned for driving innovation in basketball sports betting and look forward to inspiring a more engaging betting experience for NBA fans – Genius Sports CEO Mark Locke
At the same time, signing up two partnerships will allow NBA to better tailor the information that it ends up listing on its official websites, and tailoring the most accurate game forecast currently possible.
The NBA is particularly well-poised to benefit from the expanding betting industry, with the potential windfall from the activity reaching estimated $600 million should the association embrace the segment in full.