The Bear Cave issued a cautious report on Sportradar (SRAD), saying that while the company is seen as a credible leader in the sports data industry, a growing royalty on sports betting, and a company which will benefit as more gambling shifts from the grey market to legal regulated platforms, investors likely “overestimate” Sportradar’s business quality and moat and “underestimate its growing” competition and headwind from prediction markets. The firm also explored allegations that Sportradar helps facilitate the crooked gambling it claims to police.
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