Benzinga hosted its inaugural Sports Betting Titans virtual event.
Prominent industry leaders attended, including Sportradar Group AG (NASDAQ:SRAD) CEO Carsten Koerl and NBA senior VP Scott Kaufman Ross.
Their discussion encompassed the evolving landscape of sports betting and the innovative strides the pair are making together.
Sportradar, a global sports technology firm, partnered with the NBA a decade ago to help drive fan engagement. The goal is to create a positive and responsible environment for sports betting in the U.S.
Koerl highlighted their pioneering efforts in this arena. “[Adam Silver, NBA Commissioner] said, ‘I believe there is a good opportunity to make something happen,’” he recalled.
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Currently, Sportradar is helping the NBA engage its global fanbase, creating solutions that cater to market needs. Their collaboration thrives on innovation and leveraging big data. One of their focal points is in-running live betting. “Every second, we have new information, and using that for the in-running data which we get now from tracking systems in real time is amazing,” Koerl commented.
Ross, who heads up gaming and new business ventures at the NBA, says sports betting is a lens through which fans engage with the NBA.
He highlighted the critical role of their product council, a monthly meeting between senior stakeholders from the NBA and Sportradar, which aims to explore product innovation in the betting space.
Sportradar’s comprehensive live data, combined with the NBA’s constant action, creates a thrilling sports betting experience for fans. The future of sports betting is interactive, customizable, in-game, and real-time, setting the stage for an engaging digital experience.
Looking ahead, the NBA is contemplating its next round of media renewals. As digital streaming services take center stage, the opportunities for integrating betting into the live sports experience are expanding. Ross emphasized, “In play betting is going to play a big role. You can bring that directly into a digital interface in a way that really difficult to do in a linear broadcast.”
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