Sportradar released a new update on the performance of its Alpha Odds tool, announcing that it has boosted clients’ profits by an average of 10% in 2023.

For reference, Alpha Odds is an automated odds recalculation tool which allows gambling companies to generate bespoke betting prices that take their risk exposure and liabilities in mind. Alpha Odds was launched in 2022 and has since benefitted over 60 betting operators across the globe.

What makes Alpha Odds special are its AI capabilities and pricing models that provide reliable probability prediction, allowing operators to manage their risk more effectively. When paired with real-time and predicted liquidity, Alpha Odds ensures trading efficiency maximization that corresponds to the trading strategies of Sportradar’s operator partners.

Sportradar also pointed out that an analysis of 17 million betting tickets across 60 of its clients showcased the reliability of the artificial intelligence models within the odds recalculation service.

According to Sportradar, Alpha Odds delivered an average trading efficiency improvement of 11% for clients, compared to the performance of its conventional odds product. This difference was attributed to Alpha Odds’ capabilities, which were able to adjust betting prices in real-time, thus stabilizing clients’ trading operations.

Alpha Odds Received ISAE Certification

Furthermore, Alpha Odds’ financial reconciliation aspect was recently independently certified by auditors PwC, allowing the solution to achieve the International Standard in Assurance Engagement (ISAE) 3402 Type 1 for matching and client invoicing calculation systems.

This certification, Sportradar clarified, attests to the company’s robust computational practices and superior visibility when it comes to the processes behind Alpha Odds.

Darren Small, Sportradar’s senior vice president of managed trading services (MTS), commented on the matter, pointing out that Alpha Odds has been transforming trading betting markets since 2022.

Commenting on the recent certification, Small said that it confirms the effectiveness of the solution and shows that Sportradar is a company that partners can trust.

The independent ISAE certification validates the performance of Alpha Odds and provides confidence to clients that the associated financial aspects of the solution are transparent and accurate.

Darren Small, SVP of MTS, Sportradar

Meanwhile, Sportradar just extended its data deal with kwiff, the super-charged betting service.

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In a landmark ruling by the Swedish Patent and Market Court of Appeal, Betsson, a prominent betting company, has been mandated to refund all losses the plaintiff, a man suffering from a gambling disorder. This development has significant long-term consequences and follows similar cases in other European jurisdictions.

Betsson May Face Other Such Lawsuits

According to the court’s decision, Betsson must repay all of the plaintiff’s historical spending and additional compensation for mental distress. According to the individual, Betsson engaged in extensive and aggressive marketing tactics like frequent bonuses despite being aware of his status as a problem gambler. Since this happened before the company received its Swedish license, he had little legal recourse.

Magnus Rydeving, an expert providing legal guidance to individuals affected by addiction, noted that the court’s decision, ordering Betsson to reimburse the individual, potentially sets a precedent for similar cases from other victims. In an interview for Swedish media outlet Dagens industri, he noted that the sum for this individual trial may be just the tip of the iceberg.

“It’s hundreds of millions of krona, and that’s solely what I know about. Then, of course, there’s much more out there.”

Magnus Rydeving

Betsson might face the prospect of repaying hundreds of millions of krona to affected individuals, who can use this recent ruling to improve their chances of court victory. An influx of lawsuits could significantly hinder the company, costing it valuable resources and time. Betsson can still appeal to the Swedish Supreme Court, but the company has yet to disclose its intentions.

This Development Follows Broader Industry Trends

The silver lining for Betsson is that the case specifically targets the period spanning 2014 to 2019, preceding the regulation of the Swedish gambling market. Betsson was a grey market operator in Sweden before the industry underwent formal regulation in 2019. Any customers seeking legal action against the company after 2019 will likely face a significantly more difficult court battle.

This ruling aligns with similar legal precedents established in countries like Germany, Austria, and the Netherlands, where tens of millions of euros have already been recovered from gambling companies in almost 7,000 cases, with the argument being that companies acting against the law were not entitled to profits from such activities.

Sweden’s decision underscores the increasing legal scrutiny faced by gambling companies operating in unregulated markets, setting a precedent for accountability within the industry. However, it contributes to ongoing tensions between operators and EU regulators as some jurisdictions may become unsustainable for licensed stakeholders.

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